If you’re relatively new to the world of asset tracking, you might need a primer on what this term entails. When we talk about assets, we’re actually referring to fixed assets or items purchased for long-term use within your business or organization. Fixed assets aren’t sold, but their presence helps you to conduct business more efficiently. Take, for example, your IT assets (computers, laptops, smartphones, tablets, printers, monitors, A/V equipment, copiers, scanners, etc.), your office furniture, vehicles, vending machines, even the building in which you house your headquarters. All fixed assets must be reported for accounting and compliance purposes. Regardless of whether you’re a mom-and-pop organization or a multinational brand, you’ve got fixed assets, and your ability to track and manage them has an impact on your bottom-line revenues.
Unfortunately, some fixed assets – IT equipment is the most obvious example here – are constantly changing hands, which makes them tougher to track. Those items are particularly vulnerable to theft or loss. In the worst-case scenario, companies continue to pay insurance for lost or stolen items, called “ghost assets,” simply because those items were never reported as such. Many fixed assets require periodic maintenance, which means you’ve got to keep track of service schedules. If you don’t, the equipment in question could break down, turning what would have been a minor repair into a major overhaul or even expensive replacement.
Even in our technologically driven society, you’ll still find companies and organizations who are relying on manual processes to track their fixed assets. And that approach simply doesn’t work in the long term. Here’s why: First of all, the properties of any fixed asset are changing frequently, which makes it difficult to stay on top of for even the most well-meaning employee. Another big factor: humans. We make mistakes. It’s very easy to make a typo, miss a keystroke or simply forget to log an item or detail. Put several employees in charge of the task, and you might have the occasional duplication of effort, a transition of job responsibilities and the occasional oversight. It’s also difficult to consolidate records when you have multiple employees charged with tracking your fixed assets.
If you’re looking to tighten up your recordkeeping and be a more responsible steward of your resources, Asset Panda can help you. Our free, cloud-based mobile iOS and Android apps offer the most powerful asset tracking platform in the world. With Asset Panda, the entire lifecycle of every one of your vital fixed assets lives in one centralized location for easy access. We take the hassle out of asset tracking with an easy-to-use, yet a robust system that can make a significant and measurable difference in your bottom line revenues.
You won’t need any additional hardware or software to use Asset Panda – only the smartphones and tablets you and your employees already carry. The app includes a mobile barcode scanner, as well. From the palm of your hand, you have easy access to details like check-in/check-out status; maintenance histories; insurance policy information; an item’s exact location, condition and the identity of the person who has it; lease/purchase information; appreciation and depreciation figures; and so much more. The app is completely customizable, so you decide how your data is displayed. You may also establish custom security settings based on location or role.
You’re entitled to an unlimited number of users at no additional fee, giving you the freedom to bring every one of your stakeholders into your communication loop. That raises the bar on accountability and accuracy throughout your entire organization. And, thanks to the cloud, you have the assurance that your data is in real time all the time.
If you’re ready to eliminate waste, frustration and lost time – and maximize the lifespan of your investments – Asset Panda is the clear choice for your asset tracking needs. Give us a try free for 14 days. To get started, go to assetpanda.com