3 Asset Management Benefits You Need Every Day

By September 20, 2018Asset Tracking, Blog

3 Asset Management Benefits You Need Every DayCompanies rely on their assets every day. From the most minuscule task to saving lives, assets play a very important role. The process of tracking assets can be very time consuming, but thanks to technological advances such as mobile asset tracking, barcodes, and barcode scanners, and customizable asset tracking software, the process is becoming more streamlined and efficient. For companies who invest in tracking technology, asset management benefits are proving to have a real return on their investment.

There are a number of benefits associated with asset management – and those are thanks to a variety of features that have changed the way companies track and keep up with their assets. No matter if you are in the construction industry, the medical profession, world of education or just need a way to keep your office in line, asset management makes it possible to move assets from place to place and person to person in an easy-to-navigate way that benefits all users from top to bottom.

 

“Asset management makes it possible to move assets from place to place and person to person in an easy-to-navigate way that benefits all users from top to bottom.”

 

Here are three asset management benefits that should be part of any software platform you choose to invest in:

Time Savings.

How many minutes or even hours a day are you spending trying to track down a particular asset? You have an important job to do and other employees or customers are relying on you. Do you really have the extra time to spare looking for an asset that is lost, misplaced or possibly stolen? Or what about if you need a particular tool or piece of equipment and it’s broken or out of service and you didn’t know about it? Now you are scrambling to find a replacement (if there even is one!) so you can carry out your task. Time is a very important commodity in today’s workplace and the right asset tracking and management software should be saving you time – not wasting it.

By implementing an easy-to-use barcode and scanner, which is preferably built-in to your software and usable from your own mobile devices, employees can quickly scan assets and instantly upload up-to-date data that all allocated users can access. There’s no more guesswork on where an asset is, its location or its condition.

Financial Savings.

Who likes to waste money? Probably not you or your company! Employers are relying on their employees to make the most out of the assets they provide and expect them to keep up with those assets and keep them in good working condition. Of course, accidents happen, but being proactive and responsible can usually keep the useless accident from occurring. When companies track assets, they are always aware of what they have. Chances are that if you were to ask management if they knew how many assets they owned and where every one of them was, you might be met with a long silence. By not knowing what you own and where it is, you are throwing money away.

There are many cases when you can’t find an asset so you just go out and buy another one to replace it. Essentially wasting money. It could be that it was simply placed on the wrong shelf or is sitting in a warehouse across the city. But if you are accurately tracking assets and recording their movement, then you are also being fiscally responsible and aware of them at all times. One of the most useful asset management benefits are the instant reports that can be pulled up. You can see everything from the check in/check out status, GPS locations, maintenance records and so much more. And having this instant knowledge can result in significant savings by preventing your company from making unnecessary or repetitive purchases.

Accountability.

We have all heard at some time or another to be more accountable. That’s what asset tracking and management provide to its users. Today’s tracking software comes with a type of “checks and balances” system that enables users to be more accountable for what they are using, how they are using it and ensuring it’s returned in the condition in which it was received.

By using the barcodes, with one quick scan, the item becomes the responsibility of the user and they become more accountable to the company for the asset they use. It doesn’t matter if it’s a simple stapler or a huge rock hauler … all of these items cost money and by being more accountable for what you use, you are contributing to the bottom line and reducing the instances of loss and liability.

Asset Panda offers a plethora of asset management benefits to users who seek to manage all of their assets. Our powerful asset tracking system and mobile apps are designed to replace costly hardware, software, and outdated spreadsheets. Asset Panda is a cloud-based asset tracking system that allows users to use their own smartphones or tablets in tandem with a built-in barcode scanner to track assets, whether in the office, out in the field or across the world.

Unlike other systems, Asset Panda is highly configurable, so it can become whatever you need it to be, and adjust as your needs change. Asset Panda works the way you do, making it easy for all your users to access the information they need, when they need it, from wherever they happen to be working.

Isn’t it time you took the first step toward receiving your asset management benefits with a free 14-day trial? To get started, visit assetpanda.com.

 

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