3 Common Types of Asset Tracking Systems

3 Common Types of Asset Tracking Systems

If you are like most product- or service-based businesses, it’s likely that you have several assets you need to track. Whether your company moves hundreds of products daily or provides services to local businesses, you need the benefits you’ll experience when using asset tracking systems.

But with so many options out there, how can you find the one that’s best for you? Here’s a brief rundown of the most common asset tracking methods and what you can expect from each one.

Traditional Pen-and-Paper Approach

If you haven’t had the time to look at asset tracking methods, you might be relying on pen and paper to track company valuables. There aren’t many benefits to this approach of tracking equipment, tools, and other items. Your team has to know where the asset records are, and spend valuable time searching for the right place to take down asset information. If your team hasn’t taken the time to keep the data organized, who knows if your employees can find the records they need?

Spreadsheet-Based Tracking Methods

Spreadsheet-based asset tracking systems offer some benefits over using pen and paper. Many spreadsheet programs are available to multiple users, so your team doesn’t have to find the physical location of your asset records. There are many free asset tracking templates available for use, so you can cut down on the cost of tracking your investments. However, spreadsheets are prone to error and can be difficult for multiple team members to access and update. Complicated formulas are easy to mess up and can misrepresent what you have available.

Barcode-Based Asset Tracking Systems

Barcodes are some of the most reliable ways to track assets. They speed up the data transfer process through technology you can use on your mobile device. Using barcodes to track your assets avoids many of the issues that come with spreadsheets and manual tracking methods. The ease of use means your team is more likely to keep your records updated, which gives you access to a lot of information that would otherwise be nearly impossible to get.

Asset Panda’s barcode-tracking technology makes it easy for you to see all information related to your company assets. You’ll be able to locate your equipment in minutes instead of hours, identify usage patterns in your machinery, and make well-informed budgetary decisions. You’ll be able to avoid many of the errors that come from using cumbersome spreadsheets and increase the likelihood of your team contributing to your asset tracking efforts. Knowing where your assets are at any given time will also decrease your need to replace missing assets, and end up saving you money.

Our cloud-based platform was designed for ease of use. We understand that you have a million other things to worry about and can’t afford to spend a great deal of time implementing a new asset tracking management system. You shouldn’t have to adapt to a new software. You can configure our platform to do exactly what you need.

Several school campuses in Washington used Asset Panda to track their technology assets originally, but then also implemented it to manage their library systems and workflow efficiency.

Want to see how Asset Panda can benefit your company? Sign up for a free trial today!

 

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