This blog will help you navigate four typical Challenges with Asset Mapping and their solution.

Challenges:

The word asset has been used frequently to denote worth, importance, and resourcefulness in community involvement and community development theory and practice. Aspiration, as well as creative talents, skills, knowledge, social principles, and emotional resources, are examples of psycho-social assets. Assets can also be somewhat hidden, intangible, or internal, such as spaces, services, and infrastructures, including communications, media, and informal information networks. To establish partnerships across the public, nonprofit, and community sectors and to "document" or "map" out peoples' values and perceptions of value, asset-based techniques have been used.

The process of identifying and organizing assets in a community setting is called asset mapping. By highlighting strengths or action priorities, it can help realize the actions necessary to create capacity and/or impact change (Alexiou et al, 2016). The following are the Challenges of Asset Mapping

1. Retaining Up-to-Date Asset Records: You should work hard to properly keep fixed asset records if you wish to be aware of your fixed assets at all times. That may be done by entering all changes on time and fixing errors as they happen.
2. Taking Care of Huge Amounts of Data: Due to the wide range of topics that need to be covered, compiling data on fixed assets can be difficult. When you include many corporate departments, it becomes much more challenging.
3. Monitoring the Life Cycle of Fixed Assets: You should add the most recent details on each asset's life cycle to your freshly created fixed asset list to get even more value out of it. Obtaining a list of fixed assets without any actionable comments on the state of the tools or equipment is a typical problem in tracking fixed assets.
4. Making Assets Visible: Tracking fixed assets frequently faces difficulties due to poor asset visibility. Your reports are frequently incomplete because of unaccounted-for or incorrectly-labeled assets.

Solution:

All these above-mentioned challenges can be overcome easily with an efficient Asset Mapping System. The organization can map its assets to the employees to whom they have been assigned thanks to the asset mapping module of Digital HRMS. Under Admin Configuration, the Set-up Masters tab may be used to define the assets. This makes it simple for HR to maintain track of the assets that have been allotted and to consult the Asset Mapping Database as needed for rapid access to information on asset management throughout the company.