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What is Remote Asset Management?

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  • Written By: Malcolm Tatum
  • Edited By: Bronwyn Harris
  • Last Modified Date: 04 December 2016
  • Copyright Protected:
    2003-2016
    Conjecture Corporation
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Remote asset management is the strategy of using modern communications tools to manage assets effectively from anywhere in the world. Those assets may be holdings in a portfolio, business assets that are essential to the operation of a company, or even specialized asset management related to specific functions such as information technology. In each scenario, the management process often requires the use of wireless technology to monitor activity and execute orders that help to generate the greatest degree of benefit from the assets as possible.

In terms of investments, remote asset management is a process that makes it possible to monitor the price movement of the assets contained in a portfolio, as well as what is happening in different types of investment markets. With this application, the asset tracking is accomplished using wireless connectivity via a handheld device or laptop, making it possible to obtain up to the minute market information. With real-time access available any time of the day or night, investors can quickly execute orders to buy or sell assets when and as needed, managing to generate greater returns while minimizing losses as markets experience sudden shifts in direction.

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When it comes to the operation of a business, remote asset management often takes the form of managing the activity that is taking place at one or more company facilities. This includes monitoring the movement of raw materials through the system as they are transferred from one facility to another. Remote asset management of this type can also include the use of GPS tracking to identify when raw materials will be received at a given location, or when a customer order is delivered. Instant access to this type of data can go a long way toward improving the efficiency of the business, as well as enhancing relationships with vendors and clients.

Remote asset management software designed for general use will work well for many situations. A number of asset management software products on the market today can be easily customized to fit the specific needs of a given business, including as many or as few features as required to accomplish the desired level of monitoring and order execution. In some cases, the software will allow multiple users to work with the same platform, with specific privileges assigned to each user. For example, an employee may have the ability to monitor the progress of a shipment scheduled for delivery, but not be allowed to redirect the shipment. At the same time, the company owner would have the ability to monitor and manage the delivery, including redirecting that delivery should the need arise.

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