In order to decide which is better, an on-premise vs cloud-hosted deployment of asset management software, one must first understand the difference between the two models. On-premise deployment means that the customer can completely control their environment and customise it to fit their needs. Cloud-hosted deployment is a newer model in which the service provider manages the customer’s environment. There are advantages and disadvantages to both models that need consideration before landing on a decision. 

This blog post will explore those differences in depth so you can make an informed decision about which deployment is right for you. 

What Is Asset Management System Software?

Asset management system software is a computer program that enables organisations to track and manage their assets. This includes financial assets and equipment for facilities and real estate. Typically, asset management system software provides users with a centralised database where they can store and track information about their assets. 

This can make it easier for organisations to track what they have, where it is, and how they use their assets. In addition, asset management system software often includes features for tracking maintenance records and depreciation schedules. This can help organisations manage their assets over time and make the best of their investment.

What Is On-Premise Asset Management Software?

On-premise asset management software is computer program businesses use to track and manage their assets. This type of software is usually installed on a company’s servers rather than hosted by a third-party provider. On-premise asset management software typically offers many features, including asset tracking, inventory management, and maintenance schedule. 

Some on-premise asset management software solutions offer basic accounting and financial reporting capabilities. Choosing the right on-premise asset management software for your business is essential to consider your specific needs and budget. 

Let’s assess the pros and cons of the on-premise asset management software:

Pros

• It can be customised to fit the organisation’s specific needs.
• It can be integrated with other in-house software applications.
• Data is stored locally, so there are no concerns about data privacy or security.

Cons

• It requires a more significant upfront investment.
• It requires ongoing maintenance and updates.
• IT staff must be trained to use and manage the software, adding to the cost.

What Is Cloud-Hosted Asset Management Software?

Cloud-hosted asset management software provides a centralised platform for tracking and managing enterprise assets. By hosting the software in the cloud, businesses can profit from economies of scale and the flexibility of using a shared infrastructure. Cloud-hosted asset management software typically includes a web-based interface that gives users access to the system from any location. 

The software also typically includes features for managing inventory, scheduling maintenance, and generating reports. In addition, many cloud-hosted asset management systems offer integrations with other enterprise applications, such as accounting and HR systems. By using cloud-hosted asset management software, organisations can improve visibility into their assets and better manage their lifecycles.

Let’s assess its pros and cons:

Pros

• It requires a lower upfront investment.
• There’s no need for in-house IT staff to manage the software, saving the company the overhead cost.
• Automatic updates are typically included in the subscription price.

Cons

• It provides less control over customisation and integration.
• It stores data offsite, so there may be concerns about data privacy and security.

On-Premise vs Cloud-Hosted: Which Solution Is Right For Your Business?

The cloud offers many advantages for businesses, including scalability, flexibility, and cost-effectiveness. However, on-premise solutions can also offer benefits, such as greater control and security. Ultimately, the decision of whether to use a cloud or on-premise solution depends on the business’s specific needs. 

For example, businesses that need a high level of security might prefer an on-premise solution, while businesses that need the ability to scale quickly might prefer the cloud. By carefully considering the needs of the business, organisations can make the best decision for their particular situation. If you want assistance in assessing the types of deployments that would best fit your needs, you can contact QbBasis today!