3 Downsides to Using Free Asset Register Software

By February 16, 2018Asset Tracking, Blog

In order to ensure you’re making the most of your equipment, you might be tempted to use free asset register software. Using an asset register can help you track a lot of information about your investments that you need to reference at any given time.

However, traditional asset registers are somewhat outdated. Many of them use spreadsheets to track the value of your assets, location, usage history, and life cycle.

There are many problems with using a spreadsheet as your asset tracking system. Here are just three of them:

Spreadsheets Are Difficult to Share

Even small teams are likely to have more than one person managing and tracking assets. However, trying to create a spreadsheet that more than one person can access is a difficult task. Depending on what software program you decide to use, the license may only be accessible from one computer. All your team members will then have to go to the same location to access and change asset data.

If your asset database is inconvenient to access, your team members are less likely to work on keeping your asset records updated. This will lead to outdated information, which can make it difficult for your team to make asset-based decisions.

Free Asset Register Software Is Prone to Errors

Many free asset register software programs use spreadsheets to keep valuable information. However, the spreadsheet structure makes it difficult to track asset data in a straightforward manner. Many spreadsheets require manual data entry. This is where situations can become complicated. Entering data by hand is more subject to mistakes than automated data collection. Some of these mistakes could be harmless, but some of them could add or subtract a zero from numbers your company needs to continue operating.

Having errors in your asset records will also complicate other asset decisions. With incorrect information, you could buy way too much product or come up short-handed during peak business times. Either situation could cost your company big time.

Spreadsheet-Based Software Is Difficult to Customize

Your company isn’t like any other company. You need software that will work around your business requirements. Free software usually only comes in one format, and if that doesn’t work for you, then you’re just out of luck. If you need to track types of asset data but don’t have a field to track them in, you might not be able to record that information at all.

Depending on what industry your business operates in, you might have unique requirements for your asset register. Construction companies need to track equipment warranties, and IT departments need to track software licenses. There’s no guarantee that a free solution will enable you to track this information.

Asset Panda provides an easy-to-use platform for you to use as an asset register. Our cloud-based database means all your team members can access asset records from any location. Automated data updates mean you don’t have to worry about error-ridden information, and our program is easy to configure to meet your needs.

Cellular One uses Asset Panda to avoid all the downsides that come with using a spreadsheet-based software. Our application enables them to track any and all asset information from all their warehouse locations.

Want to see Asset Panda’s features in action? Take a free guided tour today!

 

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