Everything You Need to Know About Government Asset Management Software: Benefits, Solutions, & More

7 minutes

Managing assets over their life cycles can be difficult, especially for governments. This difficulty makes it harder to improve citizens’ lives and can cause friction between them and their elected leaders.

Asset management software allows organizations to track their digital and physical assets over time, streamlining the process from start to finish. Government asset management software is specifically designed to give government entities strict control over their inventory.

What is government asset management software?

Government asset management software is an all-in-one solution for creating better asset life cycles. Government asset management software offers a user-friendly tool that government agencies can deploy to oversee operations.

Having a cloud-based software solution to automate common tasks and improve workflows allows governments to effectively transform how they manage their assets. With smarter modern tools for governance, agencies can remove the barriers between them and their communities.

Why is government asset management important?

Governments have many strategic assets that they need to account for. Supporting agencies with asset management gives them a structured process to deliver quality service while minimizing resource costs. Asset management allows organizations to control how assets are gathered and used. Government asset management improves processes across the board, making it a powerful option for both national and local governments.

Keep your organization up to code

Government asset management can be used to verify assets at every point in the supply chain. As such, it helps to maintain permitting and licensing requirements.

Section 524 Title 40 of the U.S. Code states that executive agencies must “maintain adequate inventory controls and accountability systems for property under its control to identify the excess property.”

When a government asset management tool is used, it allows governments to eliminate code enforcement risks and comply with regulations.

Increase productivity

When a local government uses an asset management system, the productivity of the government employees increases dramatically.

For example, when a local or state government uses SmartGov, they use the tool to gain real-time awareness of permit processing, business licensing, and code enforcement all within one platform.

This information can be accessed from anywhere and helps keep all parts of the government working together and all from one source.

Reduce costs

Effective asset tracking is vital for government asset management systems to ensure costs stay minimal. Using asset management software is essential for delivering goods to their end users both digitally and physically with as little waste as possible.

Good asset management shields governments from exposure to unexpected financial risks and liabilities. Lowering risk can reduce costs at every point in the supply chain, including:

  • Planning
  • Marketing
  • Shipping
  • Tracking
  • Maintenance

Cutting costs is essential for government agencies that want to operate effectively, as it can greatly impact future funding opportunities.

Better serve your community

Community development is a priority for most local governments. A local government asset management solution allows state and local governments to better serve their communities while reducing overhead.

Furthermore, government asset management improves transparency and ensures the safety of the populace, leading to enhanced engagement.

What are the elements of a successful government asset management strategy?

For government agencies, having an effective asset management solution in place is key to improved performance. It’s therefore essential to have a clear understanding of what makes a successful government asset strategy. Extracting the most value from available assets is one of the most important roles of government. Governing bodies must take a systematic approach to managing assets to deliver value to end users.

With that in mind, integral elements of a successful government asset management strategy include organizing, defining and targeting critical assets, and staying on budget.

Get organized

Government agencies need to be organized to manage their assets responsibly. Among other things, proper organization can help make audits go smoother. Having a clear picture of inventory, costs, and other factors also makes it easier to track and distribute assets where they’re needed most.

Identify your most critical assets

Performance management requires a realistic picture of which assets are available at any given time. Understanding which of these assets is most important allows agencies to allocate them where needed. This ability is crucial when determining which strategies should receive your funds, time, and energy.

Determine reasonable budgets

Government agencies usually work with limited funds, which makes it necessary to create reasonable budgets. Governments must consider all available assets to use them to their fullest potential.

A reasonable budget creates financial stability by eliminating uncertainty from the decision-making process and providing a framework for future investments.

Benefits of asset management software for government organizations

Asset management software delivers many vital services that make it easier to deal with the logistics of moving goods along the supply chain. Government agencies have much to gain from using asset management software in the long term.

The benefits of asset management software in government organizations can be seen almost immediately and have long-lasting effects that improve the delivery of service over the asset’s lifetime.

Streamline workflow and boost efficiency

Asset management software allows government agencies to organize and store information, making it more accessible to end users. It can also be used to automate various processes, yielding systematic workflows that work in real-time and allowing government organizations to operate more efficiently.

Build trust among citizens

Asset management software helps government agencies build trust by giving them a platform for tracking local requirements and communicating projects. Governments can build trust with their local population by securing permitting processes, maintaining code enforcement, and offering an accessible citizen portal.

Enhance visibility and transparency

Asset management software contains easy-to-access and readily available information.  By creating intuitive systems, governments allow more people to participate in community development. This in turn enhances visibility and transparency by making it easy for people to ask about specific policies and get answers to their questions.

Manage your government assets from anywhere

As the digital world becomes more mobile, governments have a duty to keep up. Asset management software can be used from most devices, making it easy for busy government workers to stay on top of problems and create solutions without being overwhelmed.

What are the different types of government software solutions?

The complexities of governing make it difficult to go it alone. With the right software solution, government agencies are better equipped to handle the sorts of problems they face on a daily basis.

Access to the latest tools and services can significantly affect how government assets are distributed within a community. Government agencies have many options for making better decisions regarding their assets and communication with the public.

Asset management software

Governments often see many diverse benefits when using asset management software.

For example, cataloging, asset tracking, and organizing government assets become much easier when done through a unified interface accessible from anywhere at any time. Asset management software has many features that allow agencies to quickly perform property maintenance and fulfill work orders without wasting time.

Community development software

Keeping up with the needs of a community can be difficult for local governments. Community development software aids in licensing and permitting, streamlining important projects and strengthening engagement between the community and government.

By simplifying applications and improving workflows, governments can deliver the best service possible while maintaining vital records and legal documents.

Capital planning software

Capital planning software helps the government regulate long-term funding needs by determining which projects are most important to the community.

Since governments have limited funding, it’s essential for them to properly manage available assets. With the right predictive capabilities, governments can quickly allocate resources effectively and ensure projects are completed without delay. 

Energy management software

Energy is a finite commodity that can quickly become expensive if not managed correctly. Energy management software helps the government look at consumption patterns to reduce carbon emissions.

Determining which energy supplies are most in-demand and when can be difficult. But with the right energy management software, governments can make intelligent and sustainable decisions, saving valuable money and energy.

Event management software

Event management software is designed to eliminate the challenges associated with making and communicating bookings. By streamlining the process of invoicing and cost recovery, governments can successfully run events without unexpected cancellations. 

Event management software helps users schedule, organize, and promote events relevant to local governments and communities, resulting in improved relationships and more trust.

How Brightly can help

As government asset management grows more complex, many agencies have begun looking for a solution that fits the needs of their community. With Brightly, you can create sustainable communities without sacrificing your bottom line.

While there are many local government software solutions you could use to manage your assets, none are as powerful or comprehensive as Brightly.

Brightly is dedicated to solving the kinds of challenges governments and their concomitant communities face. Our software promises to maximize cost savings while enabling new possibilities for growth. We’re dedicated to creating smarter assets, one community at a time.

Manage your assets with Brightly’s enterprise asset management systemSchedule a demo today!