Businesses increase competitiveness from professional asset management

When should you switch from manual management to software?

In many businesses today, asset management is still done manually on Excel and relies heavily on personal experience. This is still considered effective by many people. However, when the business expands in scale and the asset portfolio increases, many problems will arise.

The most obvious is the lack of connection because each department manages a separate Excel table, lack of synchronization, leading to overlapping information, difficult to compare. More risky, Excel does not save the operation history, does not assign user rights, so it can lead to the risk of internal fraud. Or simply data errors due to personal errors in typing, copying or formula errors leading to loss of assets.

According to experts, the use of Excel in asset management can easily lead to errors and losses due to lack of data linkage. These problems have been identified in many real estate businesses in Vietnam and around the world .

For assets with long-term use value, control for maintenance and upkeep is extremely important to help optimize usage value and reduce waste. In case of damaged or lost assets, if the operating unit only reports the incident via chat channels, it may delay the recovery time. This can affect the customer experience.

In fact, there have been many cases where the asset lifecycle is not controlled due to the lack of data analysis tools, leading to a lack of proactive preventive maintenance, causing unexpected costs. For example, since using asset management software, a business estimated that 54,000 additional tasks and 11,000 periodic tasks were performed with an SLA rate of 95%.

Using specialized asset management software helps improve management efficiency

According to Mr. Dinh Viet Thang - Director of Real Estate Department - TNTech Joint Stock Company, businesses need to think about switching to asset management using specialized software when there are the following signs: The business owns more than 100 assets or assets distributed in many locations, management with Excel is starting to become overloaded; the situation of asset loss, difficulty in tracking repair history is increasingly frequent without a clear person in charge.

In particular, for businesses preparing to open more branches, expand their locations or move towards ISO standardization or digital transformation, switching to asset management software is extremely necessary.

5-star software solution for sustainable asset management

T.FM helps businesses effectively manage multiple assets at the same time.

There are more and more asset management solutions emerging in the software market, but T.FM is the solution that has been awarded a 5-star certification by the Vietnam Software Association (VINASA) thanks to its comprehensive asset management capabilities with high automation features and a friendly interface.

This solution helps manage the entire asset lifecycle from A to Z, from planning to purchase, asset operation, maintenance and repair, and asset inventory and liquidation processes. The system also integrates smart warning features about warranty periods, insurance, and other important milestones. Even for real estate projects, T.FM participates in management from the time the project is formed, through legal procedures, to construction progress, acceptance, handover, and operation.

Every operation on the system is recorded in detail: who performed it, when, what content was changed. This not only ensures transparency but also supports auditing and compliance with legal regulations. In particular, the flexible authorization system allows access management by role, department and security level, so it is very suitable for multi-branch, multi-department business models.

In fact, using asset management software helps businesses “find back” many forgotten revenues. For example, a business building in a central location has an LED screen for rent but it has not been managed, optimized, or the revenue from the parking garage, swimming pool, etc. cannot be counted or controlled.

Since using T-FM, the daily reporting and alerting software has helped businesses calculate revenue in real time. As a result, the business's plan is 120 billion VND in 2025 and the revenue up to now has reached 60 billion (50% of the plan). Through reporting on the plan completion rate and the occupancy rate of the rental areas, continuously updated, it helps leaders come up with appropriate development strategies.

Switching to specialized asset management software not only helps improve management efficiency but also enhances coordination between departments, minimizes risks and enhances business competitiveness.

Ha An

Source: https://vtcnews.vn/doanh-nghiep-tang-nang-luc-canh-tranh-tu-viec-quan-ly-tai-san-chuyen-nghiep-ar946094.html