Selecting the right solution for cloud-based asset management

IDS-FEB-BLOG

Selecting The Right Solution For Cloud-Based Asset Management

Moving from an on-premise asset management solution to a cloud-based asset management platform is no longer a question of if, but how. The arguments in favor of on-premise solutions include security, data integrity, and control over uptime. However, giant strides in cybersecurity have enabled secure cloud services, minimizing the number and seriousness of such attacks. Redundancy and advanced load balancing systems have improved the reliability of cloud-based asset management solutions, but the key to the successful adoption of a cloud-based solution lies in identifying the right solution provider. This is because, unlike on-premise solutions, a cloud-based solution is not a capital investment, but an ongoing relationship with a reliable technology partner. However, selecting such a partner is not rocket science when consideration is given to the following parameters.

Physical-To-Digital-To-Cloud Capabilities

Data is created in both physical and digital transactions. A simple product checkout at a storeroom involves a physical transaction. A barcode scan of the released product involves a digital transaction. The data from both these transactions must reach the cloud without distortion and as quickly as possible. This example clarifies that successful implementation of a cloud-based asset management solution is only possible when the solution has full-spectrum capabilities. It involves acquiring data about a physical transaction, converting it into digital data, and communicating with the cloud.

Similarly, it involves insights from the cloud analytics module pushed to digital devices like mobile phones or desktop computers, which the user understands to act in the physical world. Such end-to-end capabilities involve hardware, application software, cloud software platform, and user-interface applications. A solutions provider who can deliver all these components can give you better results than working with vendors of each disparate component.

For example, our iQ Technology-driven Virtual Tracker application helps diverse organizations maintain their inventory levels remotely through their solutions that cover the dispensing machines and their software backends. Office admins and IT departments can now keep a close eye on how office inventory is being consumed and make replenishments and purchase decisions accordingly.

Interoperability With Existing Enterprise Systems

One of the critical challenges of adopting an enterprise application is interoperability with existing systems. Complex interoperability with your procurement software, ERP, MRP, and CRM can make the adoption a headache for all participants across departments and functions. Moreover, interoperability allows the usage of a common dataset. This helps provide a single source of truth that is much more reliable and insightful than using data that can be distorted in transition due to manual porting. Lastly, seamless integration of the asset management solution with other enterprise systems can help reduce the time for information flow and accelerate decision-making. It also provides cross-functional intelligence to decision-makers enabling a well-informed decision-making process. 

The IDS Virtual Tracker application brings a secure and accessible back-end solution through seamless API integration. With Virtual Tracker as your inventory management solution, you will have access to real-time hard inventory data. this data will also be available for other business and operational applications used in accounting, finance, and procurement to help with better decision-making through relevant inventory intelligence.

Device And Hardware Agnostic

Another reason why businesses run into challenges with the implementation and adoption of asset management solutions is the dependence on devices and hardware interfaces. Suppose the asset management platform data is not accessible on multiple devices like desktop computers, mobile devices, or on-the-floor display panels. In that case, it diminishes the versatility of the application. Responsiveness of the application for multiple form factors is a must-have. Data from any barcode reader, card reader, or keypad must be usable by the application software. The significance of the data is not dependent on the source, so why should your asset management refuse to work with any?

 Proven Expertise In Dispensing, Collection, And Storage Solutions

Asset management is not just software. After all, it is used to manage the handling of physical goods in the real world. Only a vendor who has a complete understanding of dispensing, collection and storage processes can provide a holistic solution that manages all aspects of material movement in your business. Such providers understand the constraints associated with managing assets rather than treating them as bits of data, but that is just not it. 

Solution providers, like IDS, who have a complete understanding of the asset management process will also accelerate the implementation of your product. They will be able to look around corners and advise on what is to be avoided without expensive experiments. Our range of software packages are designed to help organizations in asset management that helps deliver high-quality products and services while reducing operations costs. 

Multi-Channel Alerts And Escalation Capabilities

The true benefit of a cloud-based asset management solution is realized when it is accessible anytime and anywhere. For this to happen, the asset management solution should have the ability to communicate through multiple channels. Role-based custom reports may need to be sent by email to the correct recipient regularly. Push notifications on web applications might help bring instant attention to specific events or transactions. If this web application is responsible for multiple devices, tablets and mobile devices become additional channels for communication.

For example, the Virtual Tracker application automates workflows that identify extraordinary events to trigger alerts. Such alerts can ensure timely actions to improve production or prevent unexpected incidents. Alerts can also help make the right business decisions at the right time.

A Trusted Partner, Not Just A Product Seller

A feature-rich solution that meets the above criteria is a good indicator that the solution can help you with your asset management need, but that is not all. The success of cloud-based asset management solutions lies in continuous handholding throughout its usage, constant innovation to meet the changing interfaces, and timely support that avoids frustration. A solution provider who can provide these will be your trusted partner through the ups and downs of successfully implementing a cloud-based asset management solution.

IDS Vending has helped numerous businesses in various industries implement its asset management solution running on its proprietary iQ Technology platform. To know more about how we can help you, visit us at www.idsvending.com or call us at 1-800-771-4446.