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Key Benefits of Open HRMS for Asset Management

Every business will have assets. Or in other words, we can say that a company runs with the support of its assets. We know that an organization manages different types of assets. The proper management of assets makes the business easier. It can also support the business to run smoothly and efficiently.

The different types of assets are,

> Digital asset 

> IT asset

> Financial asset

> Fixed asset 

> Infrastructure asset

Assets are being diversified into different categories with the introduction of new technologies. To manage different types of assets we need a separate system. Unlike the olden times where every asset was managed manually by managing manual registers and logbooks, all assets are now managed with the help of software platforms.

What is asset management?

Asset management can be termed as the support for managing all assets of an organization by assuring the systematic management, organization, and transaction of assets. 

In an organization, asset management will need an inter-departmental operation. It involves the participation of managers of different wings, accounts, and employees of all other levels. 

Effective asset management can help the employees, investors and improve the life cycle of the asset.

The key responsibilities of an asset management wing

The key responsibilities of an asset management wing are as follows

> Oversee the assets

> Manage maintenance schedule

> Regular monitoring of the asset

> Tracking of the asset

> Inventory management

> Data generation

Importance of Asset Management

Asset management assures that all assets of an organization are properly stored, packed, and sold. It also makes sure that no asset is lost or misplaced. As far as the infrastructure asset of a company is considered it will help the business to manage the infrastructure asset and its maintenance and repair. The IT assets also have to be protected well. 

> Efficient data stream management

> Real-time tracking of assets

> Improved accountability

> Better equipment maintenance support

> Centralised operation eases interdepartmental asset management

> Saves time and resources

> Improved accuracy

> Avoids theft and mismanagement of assets

Open HRMS

Open HRMS is a comprehensive human resources management software solution that offers support for all human resources-related operations. It helps the business to manage human resources as well as other resources. This tool developed by Cybrosys will help you to bring together all operations. 

Any organization despite its size can make use of this feature. Why does the human resources wing engage in asset management? As resource management is all connected the human resources wing can play an important role in managing the assets. 

In an organization, all assets used by the employees will be managed by the HR wing. These assets include a laptop, mobile phone, or any other instrument or equipment provided by the company. It can also include the vehicles owned by the company or a conference hall which is rented by different departments for different purposes. The company will get support to track the movement of all these business properties. 

Asset management becomes a painful task when the size of the organization increases. Managing the details of 1000 or more employees along with their assets is an impossible task without a software solution. Open HRMS gives you a complete solution to distribute, track and collect back company assets.  This can be done with the help of the software tool and integration of this tool with accounts and other wings.

Open HRMS Custody

In Open HRMS we can find a module named custody and this module is used to manage assets. 

If we check the Custody module in Open HRMS we can find that it can be used to allocate different company assets to employees. IT can also help the employees to send their requests for different assets. It will help the Human resources wing to manage different individuals and the products and assets assigned to them. Approval and rejection of asset requests and tracking of assets and maintenance and repair management of assets can also be done with the help of this application. 

With Open HRMS your asset allocation, tracking, management, and return become simple and effortless. It will also help to renew asset custody. It will also support you to generate asset reports with ease. All operations regarding assets can be done with a few clicks.

Key Features of Open HRMS Custody:

> Request for custody

> Request for custody renewal

> Property Creation

> Report generation and custody analysis

How to Configure Open HRMS custody?

Install Open HRMS custody with the help of the Odoo App store. 

This is available in Open HRMS

You can place the module in a custom add-on folder

Then you can run the application in your private window.

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On clicking open the custody module we can take a glance at the key functionalities. On the opening page, you can view Custody request, Report, and Property

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Enlist company properties

The Open HRMS Custody module helps us to enlist all the company properties. We can do this by creating properties and listing all the properties. 

We can do this with the help of the Property tab. 

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Here, we can view different types of properties. We can also view the tab to Create new property. Click on the tab to get a form. 

In the below-given form, we can add detail like the name of the property, photograph, and the type of property.

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The property can be from assets, products, or no connections.

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Employees can create a request for property

With the help of Open HRMS, employees can create and send requests for any property. This can be done by submitting essential details like property name, the reason for the request. It can also include the request date and the date of return. The user can also avail of the optional feature like internal notes.

All these processes can be completed without difficulty.

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Request management and approval 

The HR Team can either reject or approve the request based on the availability of the asset and the asset return status of the employee. As the module provides you with an internal notes facility we can also give the reason for approval or rejection. 

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If the HR team wants the employee to return the asset before the given return date that can also be mentioned during the process. 

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Request renewal

In some cases, the employee may want to extend the custody of the property. In such cases, the employee can send renewal requests. 

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Property Return

Employees can return the products easily with Open HRMS using the return button.

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Custody Analysis

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Here, the manager or designated person can view the status of the assets given to employees with a click. 

If you are interested write to us at info@cybrosys.com