Trends in Asset Management in 2024 – Sustainability and Cost Savings

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Trends in Asset Management in 2024 – Sustainability and Cost Savings

What does the year 2024 look like for fixed asset management?

In the market, words like recession and indebtedness are circulating. Profitability challenges abound in both the public and private sectors.

In terms of system needs, this means that the importance of solutions that help save money and operate more resource-efficiently is emphasized. Asset management is a rising trend in these times. Better control and cost efficiency attract many to do things differently than before, focusing primarily on doing things sensibly.

Recently, new opportunities have emerged in the world of asset management. One of these opportunities is the sharing of assets across organizational boundaries. This enables, for example, joint storage and maintenance of common assets. Digitization provides additional control, efficiency, and reliability in collaboration. The entire community, as well as the environment, benefits from this.

In the world of equipment management and fixed asset management, we sill see numerous diverse operational models. The digitization of manageable equipment is not yet fully regulated, affecting the fact that management is still in the dark for many operators. Much work is still to be done. However, pioneers have already understood the valuable significance of systematic digitization of asset data. Those who have not yet taken steps to digitize their equipment registry can easily achieve numerous benefits.

Today, the following functions are increasingly being digitized:

  • Equipment registries
  • Management of device reservations and returns
  • Planning of device maintenance and management of defect reports
  • Management of tool and gear handouts and returns
  • Internal and cross-organizational sharing of devices
  • Optimization and of device insurance and preparedness
  • Optimized device investments
  • Device inventories

2024 will be a very interesting year in the world of equipment and fixed asset management.

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