How Remote Asset Management Helps Your Business

Are you worried about your remote equipment? Remote asset management is here to rescue you. Read this guide to learn how it can help your business secure remote assets. 

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We live in an age of highly competitive markets where businesses must compete proactively on all fronts to stay relevant. One such front is asset management, which helps organizations perform efficiently and fix breakdowns before they affect operations. An enterprise must monitor its assets to avoid performance bottlenecks and revenue losses. 

Hence, it's crucial to have capable software for remote assets that provides real-time updates, reports breakdowns, schedules maintenance, and more. No wonder the remote asset management industry is expected to hit $32.6 billion by 2025, with a compound annual growth rate (CAGR) of 14.6% from 2020 to 2025. 

These numbers show its increasing significance. Therefore, it's time to explore how remote asset management software works. We’ll also tell you how it helps businesses track their assets.

What is Remote Asset Management? 

Remote asset management means tracking computers, furniture, vehicles, and other equipment to prevent theft, improve maintenance schedules, and make an organization financially prudent. 

Remote work has revolutionized how assets are distributed to workers, especially since COVID-19. In a physical location, the manager could simply visit an employee’s desk to check if the assets were working well and being used for the assigned purpose. However, it gets complicated when a business has multiple locations or remote employees working for it. 

In such a situation, remote asset management comes to the rescue by offering advanced monitoring solutions. When you pair it with effective asset allocation and accountability, there is a significant improvement in efficiency and productivity. 

Remote asset management deals with some critical questions, such as:

  • How many assets do we own?
  • When was a particular item purchased?
  • For how long is a specific equipment being used?
  • Does any asset need to be replaced?
  • Is our IT equipment, such as computers, updated and working optimally?

Addressing these questions ensures that all your assets are secure and work robustly. 

Benefits of Remote Asset Management 

Assets are the lifeline of any business, and monitoring them ensures that employees perform optimally and projects are completed on time. Remote asset management is a highly valuable undertaking that benefits your company in several ways, which we'll discuss below. 

1. Track Physical Location of Assets 

Businesses use various equipment, such as vehicles, computers, and more, to get the work done. Unfortunately, many companies report missing assets due to theft and mismanagement. According to a report by the Service Management Group, 30% of business bankruptcies happen due to equipment theft. Moreover, American businesses suffer annual losses of $50 billion due to internal theft. These are startling numbers that must be taken seriously by all business executives. 

The best way to overcome this problem is to use asset management software to determine who is using the asset, how long they're using it, and when they are expected to return it (if applicable). It ensures that employees undergo strict screening before acquiring and returning assets within the given timeframe. 

2. Remove Paperwork Inaccuracies 

Paperwork and manual tracking errors are pretty common in asset management. Research tells us that around 88% of spreadsheets have errors, which shows that even the most capable accountants and executives can make mistakes. 

Misplacing a comma or a decimal can change the whole picture, resulting in misplaced assets, over- or under-ordering, cost fluctuations, and more. The flawed paperwork can result in ghost assets appearing on your physical premises but not on your diligently crafted paperwork.

Cloud-based asset management can resolve this problem by recording everything from computers to essential documents. With a complete digital record of every asset your company owns, there is no chance of misplacing or mishandling anything. 

3. Cost Savings 

Remote asset management software provides detailed insights into your assets, enabling your business to improve productivity and efficiency scores. You don't need to hire extra staff to keep track of your assets; the software can do that while you follow its insights for better decision-making. 

In addition to operational costs, maintenance costs are another major factor we should consider here. If assets are not maintained regularly, they could break down more frequently, resulting in a financial burden on your enterprise. Remote asset tracking immediately notifies you about the required maintenance work while providing a detailed usage history.

As a result, you'll keep your equipment in perfect condition and keep a detailed record of the money spent on it. If the costs outweigh the benefits, you can purchase a new machine.

4. Ensures Operational Continuity 

Business success is all about operational continuity, which means two things: continuity in recording assets, which becomes crucial to your business's growth. However, as your business grows, so does the inventory list, which makes manual recording tricky. 

Remote asset management ensures continuity in asset records, no matter how large your inventory grows. It also ensures every single item is accounted for. When you have zero ghost assets on your ledger, you pay fewer taxes, get cheaper insurance rates, and hire fewer experts.

The second is continuity across personnel, which is equally critical. When someone in charge of the inventory steps down from their position or moves to another position, the incoming employee deals with the same protocols to minimize confusion. 


Whether you're a small, medium, or large business, the benefits of remote asset management apply equally. It excels where manual management and tracking give up, offering significant efficiency, productivity, and cost savings improvements.

Itefy offers class-leading equipment management software that works on desktops, laptops, tablets, and smartphones at the same speed. It comes packed with features to make asset tracking a breeze, such as search options, maintenance logs, location tracking, inventory tracking, live statistics, and much more. 

Thanks to these features, you get total control of your inventory and stay up-to-date. And the best part is that we offer all that at the most competitive prices. So, contact us and start tracking your remote assets with Itefy's advanced software.