8 ways in which Contract and Asset management create value

In our view, contract and asset management is an indispensable part of a software solution that supports the entire service process. It is valuable! With contract and asset management, engineers can, for example, add documents such as technical manuals, historical installation data and service contracts to a work order. This way, you keep insight and balance between performance, costs and risks during the usage phase of an installation. But how exactly do employees benefit from all these possibilities? In this blog you will read how contract and asset management creates value for your organisation in 8 ways!

1. Installation management. The word says it all: with installation management, you register all your installations. It is also useful to add all the associated data that you have available, such as the history, date, type and serial number of the installation. This way, mechanics can see all the necessary information at a glance and you may be able to detect a maintenance frequency.
   
   
2. Location management. A location-based work order is useful for customers who manage several installations in one building or at a large location. After all, where exactly should a technician be? It shows the exact locations of the installations, both by addresses and by GPS coordinates. No more confusion about the location of the installation!
   
   
3. Technical documentation. All technical documentation at hand? That’s great! Mechanics add manuals, instruction cards, photos or machine cards to the installation’s record. That’s nice and quick, also for the next mechanic who comes along.
   
   
4. Contract management. Lack of clarity about contracts is a thing of the past! Record contractual and financial agreements and everyone in your organisation knows exactly where they stand.
   
   
5. Installation hierarchy. An installation can consist of several components. Think of main and sub installations. It is smart to record the complete installation structure, so that you know exactly how the installation is put together. With a glance at this information, mechanics can get to work right away.
   
   
6. Maintenance planning. in the maintenance planning module, you can automatically create work orders for recurring maintenance obligations. these become visible in the plan list as soon as the system knows that it is time for another maintenance visit.
   
   
7. Service Level Agreement. Service Level Agreements (SLAs) are contracts between you and your customers that specify the requirements and quality of the work. This information helps you to keep to the agreements made. Think, for example, of information about response times.
   
   
8. Warranty management. Warranty management provides insight into all the rights of the customer: what is the warranty, what is the duration of the warranty and to which parts does the warranty apply.

Wondering what contract and asset management can mean for your organisation?

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