Why An Asset Tracking Program Just Simply Works

By December 18, 2018Asset Tracking, Blog, Use Case

Why An Asset Tracking Program Just Simply WorksAs we all search for the perfect formula to save our companies time and money, often times the process of asset tracking is overlooked. No matter the size of your company, the management team is always looking for a way to stretch each and every dollar while at the same time ensuring employees have the vital assets necessary to do his/her jobs. An asset tracking program can make a major impact on how a company conducts daily business.

The goal of an asset tracking program is to maximize asset control efficiency and minimize loss. Through the use of a number of complementary tools like mobile computers, barcode labels, built-in barcode scanners, and asset management software, you can track your assets in real time, resulting in more efficient production planning and reduced downtime.

The proper management software also enables organizations to schedule necessary maintenance or service, or even preventive maintenance. Complete asset tracking solutions include barcode technology, enabling organizations to scan their fixed assets to track them accurately and efficiently.

Looking back

In the past, companies did have an asset tracking program of sorts in place. It was comprised of a staff member(s) and an Excel spreadsheet. That employee sat for hours and hours manually entering data into that spreadsheet. With that monotonous task, there was great potential for error. Employees forgot to keep up with records, duplicated efforts with other employees or simply transposed a number or two, which created a chain reaction of errors. This resulted in “ghost assets,” or items that were long lost but not recorded as such – and subsequently remained on the insurance bill.

Looking ahead

According to a report added to the database of Market Research Report Search Engine (MRRSE), titled Asset Tracking and Inventory Management Solutions Market”, enterprises are adopting asset tracking and inventory management solutions in order to increase revenue and to overcome the challenges concerning the loss faced due to the mismanaged inventories.

Having the ability to monitor assets gives organizations greater visibility into their operations, helps prevent losses, and even enables better customer service. More organizations are also starting to realize the benefits of asset tracking, which has use cases for everything from health care to construction to manufacturing to e-commerce to education. Simply put, by knowing the location of things, an asset tracking program adds value, often saving time wasted provisioning.

Need a few more reasons as to why your company should implement an asset tracking program? Consider these benefits that you are missing out on:

  • Improve efficiency and trim costs
  • Adjust company records as equipment is moved or pulled out of service, and use the updated data when calculating taxes and costs for each department and future budgeting
  • Quickly and easily locate assets at any time, in real time
  • Track and reduce asset loss and utilize assets more effectively from recorded data
  • Improve customer service through improved asset tracking and management practices
  • Ensure accountability and accuracy throughout the entire company
  • Immediately know where your assets have been allocated and who has what
  • Get real-time reports on the position of each asset and increase the efficiency of your asset management

Work hours no longer happen from 9 to 5, and business tools must allow us easy access to what we need whenever we need it. Asset Panda’s asset tracking program is powered by free mobile iOS and Android apps that include a mobile barcode scanner and sync with the cloud, so your data is accurate, real-time and accessible to you 24 hours a day, seven days a week.

At your fingertips, you have access to an item’s location, condition and who has it, along with such details as check-in/check-out status, warranty information, insurance policy, lease/purchase information, GPS location and much more. Asset Panda conforms to the way you do business. Customize the app’s dashboard, create custom fields, notifications, alerts, and reports. Easily import and export data – even to Excel, if you’d like. Set up custom role- and/or location-based security. Also use Asset Panda as an enterprise service desk, which significantly reduces the number of support calls you have to field.

See how user, Dogs Deserve It, LLC, solved some challenges thanks to Asset Panda’s asset tracking program:

 

 

Want to learn more? Asset Panda offers a free 14-day trial to any prospective new client. Visit assetpanda.com, get more details and start your trial today.

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