What is QR Code-Based Asset Management & How it Reduces Operational costs

Asset management is a critical part of the governance of a housing complex or gated community. It is concerned with the maintenance and upkeep of society assets like electrical fittings, elevators, or office equipment. Effective asset management can lower operational costs, improve performance, and increase efficiency. However, it can be a complex process involving asset tracking, performance monitoring, scheduling regular maintenance, and keeping an eye on the costs involved. 

ApnaComplex offers a comprehensive module for asset management including QR code- based asset tracking. The solutions are designed to give property managers holistic information about each asset on the premises through a simple QR code scan. This can facilitate timely servicing which is not just important for optimal asset performance, but may also play a crucial role in maximising its lifespan. 

What is QR-code based asset management?

Developed by a Japanese company in 1994, QR code is a matrix barcode that can hold a host of information, including valuable data, identifier or tracker towards a website or application. In asset management QR codes hold a clear edge over other alternatives like RFID or GPS tags because of two main reasons. Firstly, QR codes, especially dynamic QR codes, offer a very high degree of usage and customisation. Secondly and most importantly, they can be scanned by a smartphone. 

ApnaComplex leverages the QR code technology to facilitate both asset tracking and its complaint system. QR codes contain valuable information such as maintenance dues, AMCs, and much more.

Reducing Operational costs

The question now is how QR code-based asset management helps in reducing operational costs? The answer lies in its ability to streamline and automate asset management. 

No need for special equipment: Since QR codes can be scanned by a smartphone, we don’t need any special equipment for their deployment. The ease of scanning means that anyone can use it whenever required. In practice, it allows the manager or a service staff to quickly access all equipment data at a moment’s notice. Since the smartphone works as the scanning device, it also removes the need to invest in any additional equipment. 

Speedy asset identification: With a QR code, we don’t have to look up a database to identify the asset and gather all details regarding its service history. This saves time that would otherwise be spent in tracing relevant spreadsheets and invoices. In housing societies that have to manage a large scale of assets and equipment, this can be a valuable resource. 

Reduce asset downtime: Proactive maintenance can be carried out by carefully planning servicing schedules. Ready access to service history or maintenance records can give the data we need to create a schedule that reduces any operational disruptions. 

Improving performance: Data can be key in reducing the operational costs associated with repair and maintenance of assets. This is because data can be leveraged via technology to automate maintenance schedules or to call for repairs on time. By accessing service history, we can schedule timely service, thereby improving performance. 

Ensuring longevity: Ultimately, asset management aims at ensuring longevity of the asset through timely maintenance and repair. Well-maintained machinery where performance has been carefully planned for optimsation is likely to outperform its depreciation rate and last longer than expected. 

What makes ApnaComplex QR code-based asset management so efficient?

With ApnaComplex, QR code technology is backed with an ERP that can further automate key functions. The dynamic QR code allows the viewer to pull up all relevant information about the equipment or property. We can automate maintenance schedules so that all support functions can be carried out smoothly and without any delays. We can also set up an alert system to further ensure adherence to a service timetable. 

ApnaComplex also offers a QR code-based complaint system. This innovative feature allows residents and service staff to register a complaint on the ApnaComplex app by simply scanning the QR code. This further cuts down on time taken to identify problems, thus improving asset performance. In the long run, it can reduce asset depreciation, prolonging its lifespan. 

As an information repository, the QR code technology holds a clear edge over any other asset management tool. It provides us with instant access to information that is updated regularly. Backed up with ApnaComplex ERP solutions, QR code is one of the most important tools in asset management today, ensuring optimal performance and longevity.