Three Notable Features of Asset Tracking Systems

By October 25, 2017Asset Tracking, Blog

Three Notable Features of Asset Tracking Systems

When it comes to asset tracking systems, think of them like snowflakes — there are no two alike. The right fit depends on so many different variables — company size, industry, asset use, etc. Many companies also look at the financial, training and scalability of the systems as well. The great thing is that in asset tracking, there truly is something for everyone.

Asset tracking provides companies of all sizes, across all industries basic information on the company assets – the location, condition, and value (both financially and in time). Consider this statistic — 30% of all organizations do not know what they own, where their assets are located or who is even using them. By not having asset tracking systems in place, many companies are just throwing money away and wasting their employees’ time. And if you’re using outdated forms of asset tracking like ledgers or electronic spreadsheets, there are many opportunities for error and inaccurate data. With a more mobile workforce and employees who need instant access to tools or equipment at any given moment, one overlooked error can harm a business.

In looking at the different asset tracking systems available, probably the most important thing to consider is the features. Asset tracking systems can display, transmit, and capture a myriad of information about your assets. It can also store and interpret that data into customized reports that calculate and organize information on each asset such as current asset value, depreciation, location and movement, use history and damage to assets. This data gives users as well as managing the “who, what, when, where, and how much” on each of their assets and allows for more accurate and informed decisions at budgeting time. Asset tracking systems take the guesswork out of the process and provide real-time information anytime, from anywhere.

It can be overwhelming when you start evaluating all that’s available. Here are three key features all asset tracking systems should have no matter what size company, the number of assets to track or industry you represent:

Accountability
When you bring all of your stakeholders into the communication loop, you increase accountability throughout your entire organization. With asset tracking systems in place, companies have found they reduce loss and the wasted revenue associated with “ghost assets,” or assets that have long been gone from your inventory but for which you still pay for. There’s no more guesswork or frustration if employees no longer have to search for lost or misplaced assets.

Simplicity
Moving to a “new way of doing things” is usually met with some trepidation. Especially if a technology is involved. In order to get everyone on board, you need a system that’s simple to use and requires no extensive training. Having the option to select the features that are relevant to your business and your needs eliminates many of the extra pieces that confuse or overwhelm staff. No company wants to waste time forcing employees to spend hours out of the day trying to learn difficult asset tracking systems with intricate rules and too many steps. If the system is too complex, employees won’t use it.

Flexibility and Customization
These two features are probably the most important with asset tracking systems. Whatever program you choose should adapt to the way you, your employees and your business work now. It also needs to be flexible enough to adapt as your needs change in the future. Look for features such as a custom dashboard, custom fields, custom actions (like reports, alerts and notifications), a calendar feature, custom security settings and more. The depth of information entered into customizable fields and dashboards empowers clients to make better, more informed decisions while eliminating guesswork, errors, and wasteful spending.

Asset Panda is one of the most flexible and customizable asset tracking systems in the industry for tracking and managing assets. When everyone in your organization has quick and easy access to information they need, they can all work smarter. They need to access information in a way that not only doesn’t impede workflow, but makes that workflow more productive.

Highly configurable, Asset Panda works the way you do, on devices you’re already using, both online and through our free Mobile App which are synced through the cloud. This makes it easy for all your users to access the information they need, when they need it, from wherever they happen to be working.

Asset Panda is designed to work the way you do, giving everyone in your organization quick and easy on-demand access to everything they need to know about your assets. Best of all, Asset Panda is so easy to use that it requires no special training, saving your staff time and money.

Give it a try free for 14 days and you’ll agree not all asset tracking systems are the same. Visit www.assetpanda.com to get started today.

 

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