CLOUD-BASED ASSET MANAGEMENT V/S ON-PREMISE ASSET MANAGEMENT: WHAT IS RIGHT FOR YOUR BUSINESS?
Asset management is the process of developing, operating, maintaining, and cost-effectively selling the assets. The asset management service providers offer traditional alternative products too. The asset management provider or a service firm’s role is to make investments that grow the client’s portfolio. Cloud-based asset management, as the name suggests, it means controlling the business data remotely. Cloud asset management helps in maintaining data security, maintenance, tracking, upgrading, etc. The cloud services are stored on a remote server, and the data can be accessed through an internet connection. On-premise asset management includes the software, hardware, and servers set up inside the physical premises of an organization. The on-premise solution is only available for the licensed user like a company. Even individual service providers can also use it.
CLOUD-BASED V/S ON-PREMISE ASSET MANAGEMENT- WHAT TO CHOOSE
Basis of Difference
|Tracking of the Assets||RFID, NFC tracking, and Barcoding, along with internet-enabled tracking, are available.||It uses RFID, Barcoding, and NFC tracking. For internet-enabled tracking, an extra cost is incurred by the premise owner.|
|Anytime, Anywhere Access||It is possible in cloud-based asset management, as users can access the data through the web browser on any device.||Not possible for the on-premise system, as the server, hardware, and software are all located on the premises.|
|Security||Cloud solution providers offer multiple layers of security for asset management. It helps companies not to spend a hefty amount of money on maintaining the security of the system.||There may be a security issue with on-premise asset management. Because a slight breach in the software can lead the hacker to the main server, and they can hack the whole system. So, it is necessary to remove bugs and update the system every time.|
|Interface Used||CSS and HTML technologies are used for the Cloud system. The modern user experience and interface are used for the Cloud-based system.||The feature-rich and easily configurable interfaces are used that are flexible too. Here, the user interface and experience need to be updated.|
Cloud-based and on-premise asset data management systems differ in many aspects, but you must choose the one that suits your budget, ownership, security, etc., needs. However, if you want to focus on your core competencies, you can outsource the asset management services to a reputed firm like Data Direct. From beginning to end, we take care of the entire life cycle of assets.