When choosing an asset management software for all your company’s asset needs, it’s important to weigh out the pros and cons of each type of software available. Currently, cloud-based asset management software is taking over the role that manual asset software use to play. This is due to the following reasons:


The risk of data loss when using a manually installed asset management system is high. This is because all data can only be accessed within a certain computer or network of computers. In the event of a natural disaster, all data within those computers can be lost if there is damage to the equipment. Although some data can be recovered after such events, many times recovery is not possible. Companies also lose data by lack of redundancy. For example, updated systems require frequent data backups. If these are not performed regularly chances of data loss are likely. A way to cancel out data loss altogether is to use a cloud-based system. Cloud-based asset management software cannot be damaged by natural disasters and all data is backed up within the system as soon as it is entered.


Companies that use manual asset tracking systems can negatively impact their businesses bottom line. This is due to the manual software’s incapability of tracking missing or lost assets. Cloud-based management systems are capable of checking assets in and out. For example, if you work at a calibration lab with hundreds of instruments, a cloud-based system would be able to check in and out instrument’s being used by technicians. This feature allows the assets to be tracked on when they were last used and who was the last to use them. This saves companies money because they will not have to worry about paying out of pocket for assets that have been lost or misplaced. Manual asset tracking also loses money for companies due to the amount of downtime needed to browse through the software for information on a certain asset. When using a cloud-based system all asset information is available at the tap of a finger.


The biggest issue associated with manual asset management systems is the inability to access data anytime or anywhere. Manual systems are limited to specific locations, therefore if you are out of the office you will not be able to access any of the information you may need. The benefit of a cloud-based system is that it is mobile friendly and is readily accessible anytime and anywhere. This features aids in avoiding downtime or halts in business operations.