Many businesses don’t know how ineffective they are at managing equipment and other assets until a problem arises or a costly error has been identified. It’s difficult to identify what you have and where it’s located without a system for tracking assets. Both affordable and user-friendly, barcodes and their associated barcode tracking software serve as indispensable tools for tracking assets and their relevant data.
Keeping track of assets does require time and a bit of a financial investment. Without a system that labels and tracks assets, the investment is typically much higher as you spend time and manpower searching for missing or lost equipment as well as money buying duplicate items to compensate for what can’t be found.
The introduction of barcodes and barcode tracking software has simplified identifying, tracking, and controlling of assets, equipment and processes. While often overlooked as a method for cutting costs and saving time, barcode tracking software has proven to be a viable choice for businesses looking to improve efficiency and reduce overhead.
A barcode is defined as “a machine readable form of information on a scannable visual surface. “ It is composed of a set of lines of varying widths and heights, and a sequence of letters and numbers. When scanned with a barcode scanner, the sequence is returned and recorded with barcode tracking software. The scanning of barcodes dramatically eliminates the possibility of human error. A barcode scan is fast and reliable, and takes infinitely less time (and less chance of mistakes) than entering data by hand or into a spreadsheet.
There are many benefits to an asset tracking system that incorporates barcode tracking software, including:
- Reduction of employee training time. It takes only minutes to master the hand-held scanner, which can be as simple as a smart phone, for reading barcodes.
- Versatility. Barcodes can be used for any kind of data collection and recorded by barcode tracking software which can be completely customized.
- Improvement in inventory control. Barcodes make it possible to track inventory precisely, and therefore inventory levels can be reduced where needed, translating into a lower overhead.
- Cost savings. When equipment can be tracked, companies can save money by reducing the time spent searching for equipment if it’s gone missing, and the money that would typically be spent replacing equipment presumed lost is saved as well.
- More reliable data faster. Barcodes can be customized to contain relevant information for each piece of equipment. When the information is scanned directly into the barcode tracking software, it is ready almost immediately and can be accessible to anyone in the company.
When it comes to asset tracking, companies need to hold all of their stakeholders accountable for the necessary tools to make the business run. Asset Panda has solved that issue by building barcode tracking software into its free mobile app. One of the biggest advantages of the Asset Panda system is the integrated barcode scanning function. What this means is that there is no need to purchase expensive barcode scanning devices and that any user with a mobile device can quickly search, update and maintain accurate asset records. To upload new assets, it’s as easy as using your mobile phone or tablet and opening the app, which is available on both iOS and Android devices.
Once you’ve entered the barcode, how you organize the relevant data through the barcode tracking software about that asset is entirely up to you. Asset Panda is completely flexible and customizable; it works the way you do. Adapt the custom dashboard according to your needs. Set up custom fields, custom actions (like notifications and alerts), link groups of data and generate reports. At any given moment, employees can view an item’s location, who has it, its condition and check-in/check-out status, along with its maintenance history, lease/purchase information, insurance information and much more.
Simple and efficient tracking can make a profound difference in a company’s bottom line, and better resource management produces significant savings of time and money. See why so many companies around the world have selected Asset Panda as their asset tracking tool of choice to make these goals a reality with a free 14 day trial. Visit www.assetpanda.com for more information.