Telecom companies possess a wide range of expensive resources. They are dynamic, meaning they move around a lot, undergo maintenance, replacements, and more. Given that, they need to be frequently monitored and accounted for. By doing so, telecom organizations will be able to use their assets judiciously, curtail expenses, enhance savings and offer exceptional network services. The practice of tracking, monitoring, and handling telecom assets is known as telecom asset management.
The most effective way to oversee network assets is to use a telecom inventory management software solution. In this article, we’ll tell you why.
Asset discovery
Spreadsheets have several caveats when it comes to tracking and monitoring assets. In order for them to have the latest data, they require frequent updates. This manual operation opens up room for errors. In addition to that, it takes up a lot of time and requires dedicated personnel.
Asset tracking software for telecom doesn’t rely on manual entry. It automatically captures live information from network devices. Details it can track include where your telecom assets are, what their serial numbers are, and each device’s IP address. This allows you to have an up-to-date record of your inventory.
Asset maintenance
Network assets deteriorate in condition over time. For this reason, it is important to service and maintain them. Manually implementing an asset maintenance strategy can be complex. On top of that, it can also be immensely challenging to carry them out in a streamlined manner. In this regard, telecom network asset management software solutions prove to be incredibly useful.
With a telecom asset tracking solution, you can create custom maintenance schedules for each network asset in your inventory. For every type of asset, the software allows you to create comprehensive checklists. And to help you stay on track of approaching maintenance schedules, the software offers notifications and alerts.
Asset audit
Every few times a year, you will need to perform a complete audit of all the assets in your inventory. Executing this task manually, using either paper-based tools or spreadsheet software, can be daunting. Not to mention the amount of time it consumes and the myriad of oversights that can occur in the process.
With a telecom inventory management software solution, auditing network assets becomes significantly easier. The software integrates with tracking devices such as barcode scanners, NFC, RFID, GPS, and other sensors. This feature helps automatically track asset details such as cost of acquisition, rate of depreciation, quantity, location, compliance status, and more.
Asset procurement
Telecom companies have a constant influx and outflux of assets. And It is important to have an effective purchase system in place. Procuring new assets isn’t a straightforward process. There is an evaluation for the need for new assets, a selection stage, and finally the approval and draft of the purchase order. Telecom network asset management software solutions allow you to automate these operations.
Telecom asset tracking systems enable you to manage all asset acquisition-related processes at the click of a button. You can effortlessly manage asset purchase requests, administer multiple vendors, and more. When your inventory runs low on items, the software can automatically place purchase orders for you.
Budget allocation for assets
Right from purchasing network assets to decommissioning them, the lifecycle of assets entails numerous costs. That being the case, it helps to allocate a sufficient budget for asset management. Doing so prepares you to take on various asset-related expenses. Otherwise, surprise expenses can hamper your returns on investments.
With a telecom asset management solution, you can forecast all asset-related costs. The software takes various factors of assets into consideration and suggests you an optimal budget. As a result, you can seamlessly plan your expenses for acquisition, operations maintenance, repairs, and more.
Asset reports
For a telecom asset company to grow, it must continually optimize its operations. It will help cut down expenditures, enhance savings, improve asset utilization, and more. These benefits can be achieved by consolidating and processing key asset data. The outputs can reveal a great deal of information on how the company’s operations are performing.
While there are many advantages to learning about your business from reports, preparing them manually can be difficult. Asset tracking software for telecom can automatically comb through the asset details in its database and generate comprehensive reports as per a schedule.
Conclusion
By efficiently managing your network assets, you can boost your telecom operations and achieve greater returns on investments. The best way to do that is to invest in a telecom inventory management software solution. It gives you centralized control over all your assets from a single application.
If you’re looking for a world-class telecom asset management software solution, then I highly recommend SmartAMS. Created by the renowned tech company SmartPoint, it is rich in features, secure, easy-to-use, and cloud-based. SmartPoint offers a live demo of their software product. Contact them to book a demo session today.
