8 Key Benefits of Managing Your School Assets

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School asset management software is essential for education providers and school asset managers to gather data and track assets within their organisation.

The days of tracking assets with a pen and paper are over, as many providers in the education industry are now moving towards more sophisticated methods of asset management.

These methods include implementing school asset management software to improve time management and create accurate and detailed reports.

8 Benefits of School Asset Management in Education

8 Benefits of School Asset Management in Education

1. School Asset Management can Significantly Improve Budget Reporting

The aim of a school asset management software is to collect data and analyse trends relating to asset costs. The level of control with these systems also allows finance managers to meet obligations, such as evidencing appropriate use of public funds.

Having an effective asset management system in place can also make it easier to create accurate accounts regarding depreciation, values and projections.

2. Greatly Improve Security of Assets

In a busy school environment, it can be easy for things to go missing. But, with an asset management system and a school asset manager in place, the number of lost or stolen assets can be significantly reduced.

This allows you to keep track of key educational assets, such as IT equipment and machinery, in real-time.

Some asset management software can even give real-time alerts if assets are moved out of a certain zone.

During periods where schools are closed, for example the Christmas holidays, security is paramount to avoid assets going missing. In conjunction with security patrols and intervention, asset management can make this easier.

3. An Asset Management System can Help Reduce Spending and Costs

The education sector can see an improvement in both time management and spending with an effective school asset management system in place. This includes wasted staff time when searching for equipment and a benefit from economies of scale and bulk-ordering equipment.

As well as better time and cost efficiency, you can also schedule for planned maintenance and replacement of assets.

School asset management software reduces costs and spending

It’s important that budget and resource is managed effectively in education, given the financial impact that these types of waste can cause in an already stretched sector.

4. Helps Facilities to Efficiently Manage Assets

A hugely beneficial part of implementing school asset management software is allowing each facility to manage their own facility asset. This can help facilities teams to track maintenance requirements and replace assets much more easily, improving efficiency and time management.

Facilities teams can also store photos of rooms and equipment to track conditions, along with maintenance schedules and compliance documentation.

With modern cloud based asset management software, each facility can then monitor all assets from anywhere and at anytime. This can be extremely useful for facilities and assets that may be based across different sites.

5. Effective School Asset Management Lets you Future-proof Strategies

Forward planning is key in asset management, and by monitoring a school’s assets appropriately, teams can be aware of when they need to think about replacing assets or planning in repairs.

To understand an asset’s lifecycle is vital in an industry such as education. For example, by knowing when a projector is due for maintenance can save significant downtime and replacement costs.

In a sector where budgets need to spent wisely, this type of planning is essential.

6. Helps Support IT Teams to Keep Track of Assets

A school asset management system can also help to streamline IT tasks such as network monitoring and equipment usage. As a result, this can have a huge benefit on time management and resource.

Helps school asset managers keep Track of Assets

You can log and collect data on such assets like printers, laptops and other equipment commonly used in schools.

As well as physical assets, an asset management system can even be used to manage intangible items such as software licenses and important documents.

7. Always Have Access to a Central Database

With asset management software, information and data can be collected centrally. This means, that in the event of a disaster or insurance intervention, data remains safe and accessible. Whereas, with a manual system, this data could be lost in an event such as a fire or flood.

Having this information, that includes maintenance records, can be essential for managing insurance claims and activities.

Also, by having a cloud based asset management system that stores all asset data, you can prevent this type of loss and make recovery much easier. This allows for complete peace of mind as opposed to using spreadsheets or filing cabinets that can become lost or damaged.

Read more: Swapping Asset Tracking Spreadsheet for Effective Tracking Software

8. Leads to Higher Productivity Rates

Finally, and some what most importantly, school asset management software can lead to higher productivity across all facilities in the long run.

With an asset management system, the onus isn’t on a member of staff to track down missing items or record information. The system will make it much easier to manage all of this without laborious manual input, thus freeing up teaching and support staff to do the job that makes a difference. On average, fraud and human error are costing businesses in the UK £98.6 billion a year (rahmanravelli.co.uk)

Having a system in place can also mean that, as teams spend less time collating and inputting information, they can spend more time doing audits on the ground.

Where do You go From Here?

There is already a large amount of high quality asset management software and tools in place for all types of businesses.

So, the next step is to search, compare and shortlist the right asset management software for your business needs with our free software search tool!

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