Track Your Company’s Equipment with an Asset Reservation Process

By September 16, 2019Asset Tracking, Blog

Asset reservation is an important part of having a seamless workflow. Letting employees use assets without a formal request process means you’re more likely to lose track of your assets. You’re also leaving other employees without a way for them to complete their work and therefore sacrificing productivity.

Here’s why having a system in place to reserve assets is vital to a smoothly operating business.

How a Formal Asset Reservation Process Benefits Your Company

When you have a formal asset reservation process in place, it’s easier to speed up your work operations. Your employees will know exactly where each tool is and when they can expect to have access.

Department managers will also have a better idea of the types of projects each team has on their plate. A formal asset request process gives your administrators more power over who gets to use what asset at any given time.

Creating a record of equipment reservations also means your team will have an easier time tracking down specific tools. They’ll know exactly when certain items are available and can plan their workload accordingly.

Asset Panda has a premade configuration to help you with equipment, tool, and asset reservations. This support configuration works on the devices your team is already using and can easily slot you’re your current system. Here’s how you can utilize our platform to incorporate tool reservations into your existing workflow.

Replace Multiple Systems with One System

Trying to manage data stored on several systems is a royal pain. It’s difficult to know off the top of your head which one has the information you need. You’ll end up spending hours trying to find specific details and may even lose data you need to continue operating.

Keep all your asset information in one place instead of spending hours going back and forth. Having all relevant data in one place means you’re better able to support your teams and give them accurate estimates when they request assets currently in use.

Access Real-Time Information on Asset Usage

See what your employees are doing in real-time and don’t be left to wonder what’s happening at any given moment. If you’re worried certain employees are abusing their privileges, or aren’t accomplishing their duties for the day, you can monitor their asset usage without being suspicious.

Getting real-time data is more useful than monitoring your employees’ activities. You can quickly determine if you’ve already bought a specific piece of equipment, identify its condition, and create reports for insurance or regulation purposes.

Use Asset Reservations to Determine Asset Health

Asset reservations can give you useful information into the health of your equipment or tools. If certain assets have extensive requests, they’re likely to need more frequent checkups and have a shorter lifespan than those of items used less often.

Overall asset value contributes to your company’s bottom line. Asset appreciation and depreciation can affect your business worth. If left unchecked, your books could take a turn for the worse.

Having extensive data on asset health, you can reorder new assets before their lifecycles expire. You can also phase out items that aren’t serving you any purpose. Using a check-in/check-out system helps you keep detailed records on each of your assets. Over time, these records can help you prepare for audits, insurance reviews, and quarterly budget meetings with less stress.

Using Asset Panda to create a cloud-based database filled with asset records, you can keep asset request tickets stored in each entry. Repair requests and job-specific reservations will show up and give you an inside look at how this specific asset is improving your company’s workflow. You can customize how asset records show up to make the management process more efficient.

Asset Panda is dedicated to creating and supporting a system that works with you. Let us know how we can make your overall experience better by contacting one of our implementation specialists.

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