For the management of every workplace, asset tracking is necessary. As a business owner, your company must keep track of what it owns to know how much it would cost to repair or replace. Asset tracking software helps you make an informed decision about your physical inventory.
While many organizations track their assets manually, it is no doubt that it is challenging and a lot more tasking as the organization grows. Hence, making it necessary to get an asset management solution. They are efficient in helping your organization maximize assets and minimize loss. Learn about asset tracking and its benefits to your organization below.
Asset tracking refers to tracking the physical assets an organization owns and having real-time information about their location and status. The assets are tagged with either barcode labels attached or by using GPS or RFID tags. The assets can be mobile, which means they move from one place to another, or fixed, which means they stay put.
Asset tracking software helps track the movement of hardware (IT equipment, company’s devices, or software) within an organization. It scans the entire assets, logs tangible information to give a quantitative record, and enables physical monitoring of your assets. Through the use of asset tracking software, organizations can schedule maintenance or preventive maintenance.
Gathering information about your assets and documenting this information is necessary. With the help of the asset tracking system, information about items and devices is automatically stored and can get checked later. It also provides you adequate real-time information about each item.
When an asset is not well managed, the chances of the asset getting damaged is high. Also, maintenance cost is likely to increase. With an asset tracking software doing the job for you, all information about a particular asset is captured and kept within the software. That way you get to track all the assets, schedule maintenance jobs, and even get alerts before the scheduled time. It helps in knowing unproductive items and saves you time and money on the maintenance of products that are of no use.
If your organization handles hundreds to thousands of assets, assets can get separated from a batch. Tracing assets manually can quickly become exhausting because you spend a significant amount of time and manpower looking for the asset. You can easily avoid this by using asset tracking software. The software enables you to put RFID codes or GPS tracker on every access that invariably gives you real-time information of the last location of the assets, so misplaced or lost assets get found quickly.
Auditing is necessary for verifying what assets your organization owns and where they are. The asset tracking software helps audit all your assets and avoids any discrepancy of taxes and maintenance charges during the audit. When the assets are few, you will also end up paying fewer maintenance charges and taxes. It also helps in reducing any compliance risk. By using the asset tracking software, you can improve your daily activities & operations.
Manual documentation and tracking of assets can result in errors which are very common for any big setup. However, the asset tracking software will not make such errors. It will ensure that there is no duplication of the tracked assets. Hence, you can be sure that your data is accurate.
Almost all asset management solutions are cloud-based; they are accessible from remote locations. Cloud solutions make it easy for anyone to access information and validate the data anywhere. So, your physical presence in the office is not required to do this work. You can also easily search for the necessary information on any data from anywhere in the world.
With the help of the software, you can generate reports that give you firsthand information about the current status of the asset, such as the utilization of assets, the asset’s location, and even the cost of the asset. Contracts and information on the maintenance can also be entered. Doing this the contract expiration alerts can be created or spooled as a report.
With asset management software, you reduce the time spent passing and receiving assets thus, improving productivity. With the assets tracker in place, you eliminate the added responsibility of manually logging the movement of assets. This advantage is most beneficial in big companies like multinationals that assign multiple assets to multiple assignees.
The main objective for asset tracking is to save your business time and money while equally improving the productivity of assets and the organization’s resources. Businesses can achieve all of this with our effective asset tracking and inventory management solution. Schedule a demo here at pos@posshop-ng.com.