An Asset Panda Audit Assures Accuracy of Recordkeeping, Financial Reporting

An Asset Panda Audit Assures Accuracy of Recordkeeping, Financial Reporting

An Asset Panda audit is among the fastest and easiest you’ll find anywhere. Why do you need to conduct an audit of your assets, anyway? Audits help you ensure accuracy in your recordkeeping and financial reporting.

Conducting an audit of your assets can be a complicated and error-prone process, particularly if you’re relying on Excel spreadsheets or pen and paper. And the stakes are rather high. Inaccurate recordkeeping can result in lost or missing assets, which then can affect employee productivity negatively. Insurance costs can increase. A company that doesn’t take care of its fixed assets is wasting time and money and is often forced to replace assets early due to neglect, loss or carelessness. A nonprofit organization with mismanaged assets may lose grant funding or be required to pay it back.

With an Asset Panda audit, however, your mobile device is all you need to do the job. Using your smartphone or tablet, you can download the free Asset Panda app in either iOS or Android, and conduct on-site audits of your assets and inventory. The audit feature is exclusive to the mobile app, and it gives you the freedom to perform this function wherever you are. You’ll perform your audit successfully in substantially less time and with fewer people.

Users typically perform an Asset Panda audit by location – for example, headquarters or warehouse. You can run the audit in as many fields as you’d like. Users either create a new audit or update an existing, ongoing one. Asset Panda enables you to capture GPS coordinates, as well, if you have GPS location turned on for your mobile device. The “Audit Default Fields” feature automatically updates the fields you’ve set up inside of “Audit Fields.” You can also opt to show asset details after each scan, allowing you to verify the accuracy of your asset information and make necessary changes; and create custom reports, if you wish.

In the palm of your hand, you have 24-hour access to real-time comprehensive asset data, including the complete lifecycle of each item. You can set up custom security parameters based on location or function, enhance your security with electronic signatures, and add supporting photos, videos and more. There’s no more hunting around for lost, stolen or mismanaged assets because all of your data lives in a centralized location. You won’t need any special training to get up to speed on the app; it’s both user-friendly and incredibly intuitive. And you can add as many users as you’d like for no additional fee. A scanner comes built into the app, so you won’t have to purchase a separate, expensive handheld scanner.

Beyond the Asset Panda audit, you can use this powerful, yet flexible app to track and monitor the movement of your assets and prevent loss, waste and premature breakdown. And, with Pangata powered by Asset Panda, you can also establish equipment refresh schedules and make smarter financial and budgetary decisions. One of the most recent enhancements to Asset Panda’s service offering, Pangata is a platform that enables clients to build custom mobile apps to track their assets and inventory, using Asset Panda’s infrastructure. Pangata powered by Asset Panda incorporates clients’ software, systems and processes like workflow, compliance tracking, calibration, maintenance and more.

For more information on Asset Panda, or to begin your free 14-day trial, visit assetpanda.com

 

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