Top 3 Emerging Global Asset Management Trends of 2014

Posted by Avigail Shabtai

Wed, Feb 05, 2014

global enterprise assets managementEnterprise asset management is a concept that involves managing the physical assets of an organization in such a way that maximizes that content's overall value and potential.

An enterprise asset management system gives users the ability to manage content across all departments and even locations within an organization.

Enterprise work management as a concept has continually evolved in recent years to meet the growing demands of the market at large.

Here are three emerging global trends in this regard that you should definitely be paying attention to in 2014 and beyond.

1. Collecting and Analyzing Big Data

Big data is even bigger this year as insight analytics become an integral part of various assets management tools. More and more specialists in enterprise work management are finding ways to make sense of heaps of data to improve their bottomline. 

3. Rise of the so-called 'Smarter Physical Infrastructure'

Organizations are faced with persistent challenges to maximize life cycle performance of their assets. More and more businesses are investing in complex infrastructures that are increasingly interconnected and dependent on operational technology.

To combat such challenges, organizations are turning towards enabling processes and data integration throughout the lifecycle of their various assets. They're making a leap towards implementing methods and tools to manage operational technologies that allow the harvesting of important data and insights with ease. IBM Maximo referred to this trend as the rise of Smarter Physical Infrastructure.

3. Mobile Asset Tracking

Yet another major emerging global asset management trend of 2014 has to do with mobile asset tracking. More specifically, RFID tags (short for "radio frequency identification") are now being used by businesses all over the world to keep track of their physical assets and inventory. This trend is expected to only expand come 2014 and beyond.

Radio frequency identification tags can be read from around 300 feet away. These tags also include native global positioning system capabilities that allow you to see where your assets are at all times. These types of trends help make keeping track of physical assets easier than ever before.

Physical asset management has long been an important part of the way companies all over the world function. With certain global trends that are expected to make big waves in 2014, these new technologies have the ability to make your life easier than ever before - so long as you know they're coming and choose to embrace them.

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Image Credit: Judy

Tags: Enterprise Asset Management