Asset Management Benefits For Colleges and Universities

By January 4, 2018Asset Tracking, Blog

Asset Management Benefits For Colleges and UniversitiesThe entire structure of asset tracking at college and university campuses has changed. To contribute to their students’ success, higher education facilities are realizing that the provision of excellent physical and virtual assets that meet the learning needs of their students will assist to ensure the sustainability of the college. The assets provided to staff, faculty and students go way beyond just a computer or a printer. And that’s where the asset management benefits from implementing an asset tracking and management platform come into play.

An asset is something that has value for an organization. What the value is, such as a computer, athletic equipment, vehicle, dorm furniture, and what form the value is, depends on the organization and its stakeholders. Colleges and universities are responsible for managing a large number of assets, buildings, and equipment. These assets may be located at various buildings at one campus or spread out to different locations off-campus. No matter where these assets are located, they need to be tracked and maintained. That also includes keeping up with service requests and maintenance schedules so that the assets are consistently usable and do not interrupt the learning (and living) environment.

As with any education structure, money and funding typically are essential topics that come into play when it comes to assets. Some assets can stand the test of time and be moved from place to place and person to person with little or no issue. Other items are constantly needing upgrades and have to be closely monitored to ensure they are in good working order. The asset management benefits that colleges and universities are looking for are easily found within asset tracking software platforms.

The asset management benefits that colleges and universities are looking for are easily found within asset tracking software platforms.

Informed Decisions

The biggest asset management benefit from proper tracking is the ability of institutions to manage their limited financial resources by making informed decisions. Asset tracking data can provide information on assets such as asset life expectancy or organizational risk. This allows organizations to accurately know how assets are used and if they are a benefit or a financial drain to the university system.

Use of Barcode Scanners

Because assets are always on the go on and off campus, the use of built-in barcode scanning mobile technology is a game-changer for higher-education asset tracking. With a scanner accessible from university staff’s smartphone or tablet, he/she can scan a barcode, and in an instant, have access to an asset’s age, maintenance history, manufacturer, serial number, size, capacity, replacement cost, location, previous users, and so much more. In the instance that maintenance is needed, work orders can be produced from a central database and the work can be tracked to completion.

Even More Asset Management Benefits

The asset management benefits also include the ability to:

  • compile accurate information about assets to analyze performance
  • schedule preventative maintenance
  • download reports in a digital format to a computer, smartphone or tablet
  • customize reports to see data that is most important to him/her.
  • access a cloud-based platform that is accessible anytime, from anywhere
  • know the history and changes to an asset, whether it was an update to the cost or depreciation or whether a classification or field was added
  • meet audit requirements

Knowledge of asset condition and history is no longer accessible via error-prone spreadsheets or to specific employees. Asset Panda gives educators a simple, powerful tool to track the location and status of every one of the vital assets upon which they and their students depend. Thanks to Asset Panda’s free Android and iOS apps that sync with the cloud, administrators and teachers can scan items for inventory using the mobile devices they already carry. A mobile barcode scanner is among the features in the Asset Panda app, which eliminates the need for a separate handheld scanner – an item associated with traditional asset tracking systems that ultimately requires repair and replacement. No additional hardware or software is needed with Asset Panda; the entire lifecycle of every one of your vital assets lives in the palm of your hand.

Now is the perfect time to take advantage of the asset management benefits Asset Panda provides for your higher-education institution. For more information and a free 14-day trial, visit www.assetpanda.com.

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