Equipment Checkout Software Promotes Streamlined Asset Management

Equipment Checkout Software Promotes Streamlined Asset ManagementIf you’ve ever had a piece of equipment vanish, then you likely understand the need for equipment checkout software. This technology has saved countless organizations time, money and perhaps most important, frustration. With equipment checkout software, you can monitor the exact whereabouts and condition of your equipment 24 hours a day, seven days a week. The best equipment checkout software provides you access to the complete lifecycle of your vital equipment through the mobile devices you and your employees already carry.

Traditionally, employees have had to wait until they were sitting in front of a desktop computer if they wanted to access their data. They usually relied upon an Excel spreadsheet to log all of their equipment and each item’s data including warranty information, lease/purchase information, maintenance schedule, check-in/check-out status, depreciation and more. Manual recordkeeping has its drawbacks, however. First, it’s difficult to stay on top of so many moving parts. Some of your equipment may be changing hands frequently, and each item has its respective maintenance schedule and other unique data attached to it. Busy schedules, unexpected fires and employee reorganizations can create gaps in recordkeeping. Typos are unfortunate, yet a common occurrence in manual recordkeeping. And Excel spreadsheets don’t allow consolidation of data. Spreadsheets often result in wasted time for employees who have to spin their wheels, get on the phone and hunt down lost assets. Ghost assets, or assets that go missing but aren’t reported, are another result of poor recordkeeping and can cost companies thousands.

Equipment checkout software outsources the arduous task of equipment tracking and maintenance so your employees can focus on other priorities. Best of all, you enjoy the peace of mind that comes from knowing your data is both accurate and in real time. One of the best features of the software is the ability to bring all of your stakeholders into the conversation, eliminating communication gaps and mistakes and increasing accountability throughout your organization. You’ll inevitably reduce theft and loss and maximize the lifespan of your investments. The failure to keep up with routine maintenance can cost you much more than you realize. You rely on your equipment, and so it’s likely you’ll need emergency repair. Parts may need to be rush ordered or shipped from far away for an additional fee.

Meanwhile, productivity stalls and the delays can spill over onto other projects. And this is the best scenario. The worst situation is that your equipment can’t be repaired and you’ve got to either rent or purchase a replacement, which cuts into your bottom-line profits.

When you have anytime access to maintenance histories and schedules, you’re able to stay on top of maintenance and keep equipment in good working order, avoiding breakdowns and lost productivity. You can set up custom notifications to alert you when items are checked out and returned, when items are overdue for return or due for service. Comprehensive and accurate records also enable you to create equipment refresh schedules and make more informed decisions about your equipment needs across the organization. It’s also easy to create reports, pull depreciation figures for accounting and compliance purposes, and generate work orders.

With Asset Panda, all you need to effectively manage your equipment is your smartphone or tablet. It’s the most powerful, yet intuitive equipment checkout software on the market. To learn more, or to start your free 14-day trial, visit assetpanda.com

 

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