Whether you’re a housing association, local authority, landlord or reseller, Asset Management Software (AMS) can help. In fact, AMS is a popular choice in a wide range of industries and the housing industry is no exception.
With a reasonable number of software providers offering various applications to the market, there are options out there that provide scalability, so whether you’re a large organisation, or your stock size is relatively small, there is a product for you…
But where do you start in selecting the right AMS for your housing organisation? Well, here in our latest post, we’ve put together a list of 6 tips to help you make the right choice, including important features to look out for.
Increasing demand for social and private housing means that housing providers must manage their property assets effectively if they want to ensure they are fit for purpose and occupied. Thankfully, technology has transformed how services are delivered in a wide variety of industries, and the housing sector is no exception to this.
In recent years, broad technological shifts have influenced how social and private housing organisations work and interact internally. Effective use of IT and systems to deliver improvements across housing organisations, such as Asset Management Software (AMS), now help to combat housing management challenges commonly experienced by many social and private landlords.
Asset Management in the Housing Industry
Asset management is the process of monitoring and maintaining assets within a business and refers to both tangible assets (such as buildings) and intangible assets (such as financial assets). Asset Management Software is the dedicated application that works to manage all assets of a company.
Such AMS software stores all company asset information whilst also recording and tracking each asset throughout its lifecycle, providing a more efficient way of managing property assets, and giving the user the ability to program capital and revenue expenditure, regardless of the size of their housing stock.
In the social and private housing industry, there’s a reasonable number of software providers that offer various applications to the market. But, how do you choose the correct Asset Management Software for your business?
6 Tips to Choosing the Right AMS for your Organisation
A one size fits all approach is not true in the world of software solutions, which is why when striving to select the best AMS for your organisation, it’s essential that you select an AMS that’s suited to your needs, whatever they may be.
With a relative number of AMS solutions in the market, selecting the right one becomes that much more of a difficult task. Here are just a few things to look out for, to assist you in selecting the right Asset Management Software for your company…
When it comes to AMS in the housing industry, asset software can help significantly with strategic, long-term maintenance planning, forward projection of maintenance costs and more. An advanced AMS will also help to provide scalability, so that you can maintain and look after all varieties and sizes of properties with ease.
Additionally, some systems will allow users to optimise the planning of maintenance work to match budgetary constraints. They work by allowing the user to evaluate different options and assign replacement work into ‘programme years’ – rather than match the replacement intervals produced by lifecycle and condition data.
Varying Levels of Operational Detail
When shopping for your AMS, look for essential features such as performance indicators, maintenance cost profiles and management reports – these should each be available at different levels of operational detail, helping both yourself and your team to stay in control.
Opt for a Modular Design
Choose an AMS platform with a modular structure. By this, we mean that each module functions entirely separately to the whole, whilst having full access to the data held or created in other modules. The modular aspect of the system must be planned carefully to support current and future functionality.
An application that uses a modular approach, encompasses a collection of modules that interact with the core platform. The benefit of which is that modules can be built separately (potentially by multiple developers) and work can be prioritised based on commercial requirements.
It’s important you choose an AMS that brings user customisation to the forefront of your service. From allowing you to configure the user structure yourself to follow your existing workflows, to allowing you to rename or create new terms in the system to match your existing terminology. Additionally, you’ll want to choose a system that can respond to changing requirements without redeveloping fundamental areas.
The building blocks of interoperability are a necessity when choosing your AMS. What we’re trying to say is, any new system that you choose must interact with future add-on products as well as existing add-ons.
As a user, you’ll want to exploit the benefits of AMS by combining several different functionalities or add-ons. Interoperability ensures that you gain the full functionality of companion products, such as Notus Pocket Surveyor, with your chosen system.
Balance Budget & Expenditure
Choose an AMS that gives you the ability to program capital and revenue expenditure both now and in years to come. Ensuring you gain a smoothing tool to even out peaks and troughs will enable you to balance budget and expenditure better than ever.
Is your Software Driving You? Integrator Can Help…
Integrator is an Asset Management System for housing associations, social landlords and local councils, designed to give a holistic view of your organisation’s asset holdings as well as providing the ability to calculate based on various legislative compliance standards.
Integrator has been developed in association with Maintenance and Housing professionals and features comprehensive advantages including each of the 6 advantages listed above. Get in touch today to find out how you can benefit from a complete housing stock asset management solution with Integrator.