You don’t know what you’ve got until it’s gone – it couldn’t be truer for businesses and organisations like schools and academies. Whether it’s a skilled and valued employee who decides the time is right to move on in their career, or an investor who suddenly withdraws their bankroll, you’re left with a gap that’s hard to fill. It makes you really appreciate the way things were.

How about when you literally aren’t sure of what you had, due to a lack of records of your assets? If you’re not on top of things, you can’t possibly know everything that is now gone – perhaps following a fire or theft; everything that you could claim insurance on; everything that you now need to replace.

Keeping track of your assets has come a long way from the barcode lasers and other unreliable physical methods that we used to rely on, but the importance of asset management hasn’t waned in the slightest. In fact, it’s more important now than ever.

Don’t be unprepared

We all know how much damage fire can do, and regardless of how secure your premises are there are still things that can go missing. The minute you realise how much your estate value is worth (that being every asset value, and every room value), you’ll also realise how much you have at risk. That is, unless you operate through a quality asset management system.

Asset management doesn’t place an impenetrable force field around your computers, electrical equipment, and everything else on your estate; but it does provide clarity and control over what you own. Should the worse happen, you can refer to your asset management system and find out the cost of the damage, the value of the items damaged or stolen etc. quickly and efficiently.

Solutions like those offered by Parago can be accessed via smartphones and tablets, and also provide the ability to store photographs of your rooms and assets so it’s easier to get back to normal following an incident.

Not just about assets

Of course, there’s more to asset management than just listing what you own. The best solutions offer an array of valuable functions.

“Requirements are often universal,” says Tim Roots, director of Parago. “It’s not just about assets anymore; it’s about having a system that can also schedule premises work, manage business and employee contracts, and produce detailed reports.”

Indeed, facilities management is crucial – your premises and your staff are your biggest assets, after all. Asset management solutions give you a real-time view of your estate and assets, their location, and any scheduled maintenance and/or replacement dates and costs.

“Asset management is just one of those subjects that people know they should do something about, but actually keep putting it off,” Tim says. “In the past, nobody particularly wanted to do it as it was time consuming and difficult.

“At schools in particular, they’ve tended to buy sub-par asset management software that then never gets used. From Parago’s point of view, we knew we needed to make an uncomplicated and powerful tool that every school and business would want to use.”

Big savings

Asset management isn’t just needed to protect the assets you’ve bought, but also to protect you from spending money on assets you already have, as Tim explains.

“Unnecessary procurement is a big issue. Many schools in reports say they’re buying things that they don’t necessarily need because they might already have them. If they’re buying things they already have then they’re wasting money.

“Our system gives you the ability to have a real-time view of your estate – for example, an office or an individual school – but beyond that it gives head offices and school districts a real-time view of ALL the offices and schools they manage. This helps them in two ways: it prevents them from overspending, and it also allows them to plan procurement a lot better. They can review everything in a much easier to use reporting system.”

To discuss your current asset management and to enquire about introducing Parago’s ‘one stop shop’ asset management solutions for assets, facilities, and contract management to your organisation, get in touch today.

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Over a decade of collaborative feedback from IT technicians, premises managers, to finance directors in academies and MATs has resulted in a system that helps you share resources, stay compliant, manage contracts and prevent unnecessary expenditure.

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