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Tracking Asset History with Asset Management 365
Spotlight
A complete and accessible record of asset history is critical for organizations to ensure informed decision-making, reduce operational risks, and meet compliance standards. Asset Management 365 empowers teams by capturing the full lifecycle of every asset—right from acquisition to retirement. Integrated with Microsoft 365, it offers secure, real-time access to asset records, making management, audits, and replacements significantly more efficient.
Highlights
Improvement in Asset Record Accuracy
Faster Retrieval of Historical Asset Data
Reduction in Audit Preparation Time
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
The organization struggled with incomplete and disjointed asset history records that caused multiple inefficiencies:
- Missing Historical Records: Asset data lacked timelines for procurement, maintenance, and ownership changes, making tracking difficult.
- Inconsistent Documentation: History logs were maintained manually across spreadsheets and documents, resulting in data gaps and inaccuracies.
- No Centralized Visibility: Asset details such as purchase date, warranty status, repair logs, and transfer history were scattered across departments.
- Audit Delays: Preparing documentation for internal or external audits was time-consuming and stressful due to incomplete asset trails.
- Limited Accountability: With no traceable ownership history, accountability issues arose during loss, damage, or compliance reviews.
How We Solved It – The Solution
With the deployment of Asset Management 365, the organization gained complete control over asset lifecycle records and historical visibility.
- Centralized Asset History Logs: Every update—purchase, transfer, maintenance, and retirement—was logged in real-time under each asset profile.
- Automated Change Tracking: The system automatically captured every modification, ensuring up-to-date and accurate logs.
- Microsoft 365 Integration: Teams accessed asset histories directly through SharePoint and Microsoft Teams, increasing usability and collaboration.
- Custom Fields for History Tags: Asset entries could include service records, vendor details, depreciation status, and user assignment logs.
- Secure, Time-Stamped Records: Every action was tracked with timestamps and user information, ensuring transparency and audit-readiness.
- Searchable History Trails: Assets could be filtered by location, category, or event history—allowing quick access to relevant information.
Key Features Used
With the implementation of automation, our client saw significant improvements across all aspects of contract management. By reducing manual processes and streamlining workflows, we were able to drive efficiency, enhance compliance, and minimize legal risks. Here is how our solution delivered measurable results:
Results & Business Impact
- Full asset history logs with event timestamps
- Centralized records for procurement, repair, and ownership
- Microsoft 365 and SharePoint integration
- Advanced search filters for historical data access
- Custom tags for asset lifecycle milestones
- Role-based access and audit-ready reporting
Results & Business Impact
After implementing Asset Management 365, the organization experienced measurable improvements in asset tracking and data governance:
- 65% Improvement in Asset Record Accuracy: Real-time updates eliminated manual errors and ensured all historical data was complete.
- 50% Faster Retrieval of Historical Asset Data: Teams accessed records within seconds through intuitive dashboards.
- 35% Reduction in Audit Preparation Time: Automated logs and complete history trails simplified compliance and internal reviews.
- Increased Operational Efficiency: Reliable data helped managers plan replacements, upgrades, and maintenance more effectively.
- Improved Accountability: Clear ownership and usage trails encouraged asset responsibility across departments.
Industry
Consulting and IT Services
Location
USA, Texas
