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Improving Asset Aging Visibility with Asset Management 365
Spotlight
Keeping track of asset aging is essential for any organization aiming to control costs, ensure uptime, and extend asset lifespan. Asset Management 365 offers a centralized solution for monitoring asset age, usage, and depreciation across departments. With Microsoft 365 integration, teams gain full lifecycle visibility, enabling smarter decisions on maintenance, replacement, and budgeting—while maintaining compliance and security.
Highlights
Improved Accuracy in Asset Aging Reports
Reduction in Unplanned Equipment Failures
Decrease in Capital Expenditure on Replacements
Customer’s Speak
Mike Reynolds
Legal Operations Manager
“
Managing contracts manually led to missed deadlines, compliance risks, and inefficiencies. With SharePoint Contract Management, automation streamlined workflows, reduced manual effort, and ensured compliance. Now, we focus more on clients instead of paperwork.
Challenges Faced Before Using Asset Management 365
Before adopting Asset Management 365, the organization encountered several difficulties in tracking and managing the aging of its assets:
- Scattered Asset Information: Data was stored in spreadsheets, email records, and separate systems, creating inconsistencies in aging calculations.
- No Real-Time Insights: Without automation, asset aging reports were delayed, often outdated, and prone to manual errors.
- Maintenance Gaps: Aging assets were overlooked due to the absence of lifecycle alerts, leading to unexpected breakdowns and service delays.
- Inefficient Budget Forecasting: Teams struggled to anticipate replacements or maintenance needs, affecting financial planning and resource allocation.
- Audit and Compliance Concerns: Lack of structured aging logs and traceable history raised challenges during audits.
How We Solved It – The Solution
With the implementation of Asset Management 365, the organization gained end-to-end control over asset aging and lifecycle tracking:
- Centralized Asset Lifecycle Data: All assets, including their purchase date, warranty, usage, and expected end-of-life, were captured in one secure platform.
- Automated Aging Calculation: The system continuously tracked asset age and flagged those nearing end-of-life or warranty expiration.
- Smart Maintenance Planning: Scheduled alerts and automated workflows supported timely servicing and inspections, reducing unexpected failures.
- Integrated Reporting Tools: With Microsoft 365 integration, users accessed aging reports directly from familiar tools like Teams and Outlook.
- Customizable Dashboards: Admins tailored views based on asset category, department, or lifecycle status for real-time decision-making.
- Compliance and Security: Asset Management 365 logged every change, maintaining audit trails and aligning with data governance policies.
Key Features Used
- Real-time Asset Aging Dashboard
- Auto-alerts for lifecycle stages and warranty expiry
- Maintenance tracking linked to asset age
- Centralized inventory with custom fields
- Microsoft 365 integration for seamless access
- Audit-ready logs and change history
Results & Business Impact
Post-deployment, the organization saw clear operational and financial benefits from improved asset aging management:
- 60% Improved Accuracy in Asset Aging Reports: Reliable, real-time insights replaced error-prone spreadsheets.
- 50% Reduction in Unplanned Equipment Failures: Timely interventions extended asset lifespans and reduced downtime.
- 40% Decrease in Capital Expenditure: Smart tracking allowed reuse, reallocation, or timely upgrades instead of unplanned purchases.
- Better Financial Planning: Accurate aging data supported precise budgeting and lifecycle investment strategies.
- Strengthened Audit Readiness: With consistent logs and lifecycle visibility, the organization met compliance standards with ease.
Industry
Consulting and IT Services
Location
USA, Texas
