Telecom Asset Management: Everything You Need to Know

Telecom tower infrastructure provides the world with connectivity, data, and cellular service. It’s forecasted that the telecommunications tower sector will be worth well over $105 billion by 2026. 

These hard assets are the foundation of any thriving telecommunications business. Finding an all-in-one solution that allows project managers and vendors to easily track asset-specific data, whether it be equipment warranties, work history, or billing, is key to growing your telecom business and staying profitable. 

Asset management involves the maintenance and management of physical assets throughout the entire asset’s life cycle. Managing a single telecom tower is an undertaking in and of itself, but when you factor in thousands of multimillion-dollar assets around the world, telecom companies need a purpose-built solution for tracking profits, metrics, and equipment on a global scale. Telecom asset management software helps bring all of this data together and houses it in one place. 

Why Telecom Asset Management is Important

For tower owners and operators, properly managing all of the assets in your portfolio is crucial to long-term success. Telecom asset management software can help teams track operational data in real-time, whether it is several tower sites or thousands across multiple markets. 

Having a centralized source for all data and metrics related to telecom tower assets eliminates the need for multiple programs and spreadsheets, ultimately doing away with any discrepancies that could impact budgets and profitability. 

Managing modern telecom sites requires an integrated enterprise asset management system. Telecom businesses deploying asset management software stand to achieve greater asset visibility, including usage history, upkeep costs, location, and interlinked business processes, all contained in one cloud-based dashboard.

Benefits of Telecom Asset Management Software

Having an automated asset management system means your billing, invoicing and all network communications are made more efficient, secure, and profitable. Here are some of the deeper benefits to consider. 

Tracking Assets 

Utilizing your assets to their fullest capabilities is the goal. Effectively tracking the locations of your assets is a key feature of telecom asset management, and a crucial component of that goal. 

Tracking technologies have advanced in recent years. Barcode scanning, GPS (global positioning system), BLE (Bluetooth low energy), Internet of Things (IoT), RFID (radio-frequency identification), and QR Codes (quick response code) are all options telecom companies should consider depending on the structure of their asset network. This will give your enterprise a detailed overview of each asset over its complete lifecycle. 

Securing Your Data 

As advancements in technology continue to grow, so does the threat of cyber attacks. The right asset management tools will help you keep your data secure and prevent breaches with its enhanced security features. Further, cloud-based systems reduce the in-house IT burden of managing and maintaining security standards that come with hosting on your own servers. 

Asset Maintenance

Tower assets require maintenance. This is a huge undertaking, but it can be made easier with telecom asset management software in place. 

Maintenance isn’t just about repairing an asset. The goal is to conduct routine preventative maintenance so that you can fix issues before they arise. From calibrations to inspections, you can greatly reduce asset anomalies by tracking asset maintenance on multiple towers at any given time. 

Managing Your Contracts 

Overseeing contracts in a telecom organization is a complex task that requires successfully managing thousands of contracts. Wireless telecommunication groups should have a detailed contract agreement with computerization and artificial intelligence abilities. 

With telecom asset management software in place, you won’t need to compromise accuracy or efficiency when managing contracts across multiple networks. 

Manage tower assets and monitor infrastructure with Sitetracker’s telecom asset management software. Instead of wasting time tracking down information across multiple platforms, your telecom enterprise can cut costs by having a single truth source that efficiently monitors the condition and location of assets anywhere in the world. 

Frequently Asked Questions

What are the main features of telecom asset management software?

Telecom asset management software provides features like asset tracking, maintenance scheduling, contract management, and enhanced data security. It utilizes technologies such as GPS, IoT, and RFID to give detailed overviews of asset lifecycles and locations, helping telecom companies manage their infrastructure efficiently.

How does telecom asset management software assist with the maintenance of telecom assets?

The software facilitates routine preventative maintenance, allowing for timely calibrations and inspections. This proactive approach helps in identifying and fixing potential issues before they escalate, reducing asset anomalies and ensuring optimal performance of telecom towers.

How can telecom companies benefit from centralized data management?

Centralized data management eliminates the need for multiple programs and spreadsheets, reducing discrepancies and improving decision-making. It provides a single source of truth for all asset-related data, enhancing operational efficiency and profitability.