What is the lifetime value of your Assets
Make your Asset Management Software, Tracking System, and Help Desk More Efficient. Decision making about capital costs and budgets rely on many factors. Where are my assets? Who uses my assets? How many assets do I have? How old are my assets? How many vendor repairs are there? What is the history of each of my assets? Before you invest your valuable time and energy purchasing an enterprise asset management software or a CMMS - computerised maintenance management software, these are some things to consider. Maxpanda offers a comprehensive implementation and support service ensuring that your account is set up perfectly. With the Maxpanda CMMS, organizations can move beyond calendar and use-based asset maintenance management - a costly practice that doesn't take into account the reliability and health of all your assets. Through data-driven insights, maintenance professionals and engineers see exactly which assets are at a critical stage of their lifetime value and can better understand the health of these assets in real time to compare current conditions to historical performance. Through asset intelligence, organizations reduce downtime, as well as failure and production loss. Coupled with preventive maintenance, longer equipment life and predictable expenditures, these efficiencies transform operational costs to pro status.
Maxpanda will help you track special order items; location of parts and materials; items which are stocked and not stocked; and movement of inventory, including items that move from one place to the other and items that move in or out of inventory. Our Asset Management Software & Tracking System helps provide information about the cost and amount of parts used per work order. Work Order Tracking: Maintenance managers use the software to schedule work; determine the cost of tools, material and equipment; assign personnel; and analyze failure of equipment. The maintenance team can easily know what equipment is faulty, the source of the problem, and assign personnel to repair it. Once the problem is fixed, the person working on the issue confirms they have finished the assignment, and the manager is alerted automatically. Work Requests Tracking: Maxpanda CMMS Software helps track external work requests.
Maxpanda Asset Management software tracks every aspect of an asset and is very useful to an organization because, aside from keeping track of assets, it can also provide additional functions like: Measuring vendor performance, Optimization of supplier portfolio, Vendor audit and policy compliance, Optimization of costs for streamlining procurement processes. Benefits of Maxpanda Asset Management software include: Maximizing utilization and value of assets, Enabling informed decision-making through cost transparency, Proactive software license compliance, Managing of services as well as assets, and Tracking of vendor and supplier performance through transparent metric allocation of assets for greater return on investment.
Maxpanda uses Straight-Line Depreciation: ABC Corporation purchases an HVAC Deluxe system for $100. It has an estimated salvage value of $10 and a useful life of five years. ABC Corporation calculates the annual straight-line depreciation for the HVAC as:
Purchase cost of $100 – estimated salvage value of $10 = Depreciable asset cost of $90
5-year useful life = 10% depreciation rate per year
10% depreciation rate x $90 depreciable asset cost = $9 annual depreciation or $0.75 monthly
Maxpanda auto calculates your annual, as well as, monthly depreciation costs for each one of your assets (unlimited assets per Site). Asset Lifecycle Management (ALM) is the process of optimizing the profit generated by your assets throughout their life cycles. Maxpanda CMMS allows for comprehensive asset management and rigorous project execution through work order management and efficient asset management practices, helping you deliver optimal outcomes. Our suite of service offerings addresses all the stages of an asset’s life cycle regardless of scope, scale or industry. Having a good understanding of the availability, utilization and quality of your assets is critical to your business. Maxpanda CMMS can help you predict and address these types of challenges throughout the life cycle of your asset. From planning for the purchase of your asset to decommissioning that asset throughout its life cycle.
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Enterprise Asset Management Software - Frequently Asked QuestionsWhat is Asset Tracking Software?
Asset Tracking Software is a web-based solution that constantly tracks and accurately manages your valuable assets. Maxpanda software is capable of tracking employees, construction tools, vehicles, labor hours, medical equipment, maintenance schedules, handheld devices, such as smartphones, laptops, etc., legal contracts, legal documents, and lots more, with ease.
What is Asset Lifecycle Management?
Asset Lifecycle Management refers to the procedure of maximizing the revenue generated by your business assets throughout their lifecycle. Only a powerful asset management software such as Maxpanda CMMS can help you manage your asset portfolio with ease, besides facilitating meticulous project execution allowing you to adhere to the best asset management practices.
How does asset management software help in audits?
Asset management software makes your audit process simpler and effortless. It assesses your business practices and suggests ways of utilizing your assets in the best possible manner. Maxpanda also generates a list of expenditures concerning your assets so that you can review cost-effective strategies for maintaining your assets.
What is the Primary Industry that uses Enterprise Asset Management software?
Small and big businesses across multiple industries prefer using asset management software to reap its infinite benefits. It is highly preferred by the hospitality sector, healthcare sector, transport & logistics companies, financial institutions, e-commerce companies, IT companies, construction businesses, fleet management companies, educational institutions as well as government bodies.
How much does an asset management system cost?
Systems with limited functionality cost anywhere around $35-$125 a month per user. Maxpanda CMMS includes unlimited USER accounts so you and your team are not limited in any way. Our pricing can't be matched due to our streamlined operation. Maxpanda does not employ sales, marketing or accounting teams. These departments are automated. Our major cost reduction comes from our partnership with AWS - Amazon Web Services (hosting secure data on hippa compliant elastic global servers). Our latest customers (literally signed up this week) have all received quotes from competitors ranging from 30k - 100k /yearly for enterprise accounts. There are no other cmms software in the world that are hosted/partnered with AWS making it very expensive for those competitors who do not have the proper backend infrastructure to handle multi user environments.
What is the role of asset management software?
AMS monitors all the assets of a company, and this way, they can be analyzed for future use and upgrades. This boosts asset utilization.