Asset Management System Market
The major factor driving the adoption of Asset Management System is the requirement of streamlining the operations in the organization. The implementation of Asset Management System can help enterprise in reducing the time wasted for recording data by inefficient tracking methods and manually recording data. Moreover, the adoption of Asset Management System allow enterprises to focus on complex task of business rather than asset tracking activities and helps in increasing business profits by reducing unnecessary expenses on assets.
The key challenge for Asset Management System market is the maintenance of assets and collaboration of all the functional departments of an organization to use Asset Management System. Moreover, another challenge for the Asset Management System market growth is the high cost of solutions and expenses in maintaining and training employees. Moreover, difference in pricing complicated trade-off between accuracy are acting as a restraint for this Asset Management System market to grow.
Key Contracts:
In October 2016, BaxEnergy asset stack solution provider has entered into an agreement to acquire 4M consulting to enter into the asset management market. This acquisition will help BaxEnergy to improve its offerings and introduce tailor – made asset management solutions by 4M.
In October 2015, FactSet acquired Portware an executive management system provider. This acquisition will help FactSet to improve their tools and services of asset management system with the help of Portware’ s executive management system.
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