How to Track Assets — Then and Now

By August 24, 2018Asset Tracking, Blog, Use Case

How to Track Assets -- Then and NowCompanies these days are probably much more familiar with how to track assets than they were, say 10 years ago. The process has become much more streamlined and easier to use with less chance of error. Companies are saving money. Employees are saving time. So why wouldn’t you want to learn how to track assets the right way?

Taking a look back

Just a few years back, asset tracking was handled manually with a paper-based system or entered into an excel spreadsheet. Both of these methods had great potential to be filled with errors. Just one misread ID code or a few mistyped SKU numbers could be detrimental to companies who rely on accurate data when it comes to their assets.

While shared online spreadsheets sped up the process some, the fact that it was shared caused a lot of problems. Employees want/need instant access to software programs and if they have to wait around to enter data while another employee uses the spreadsheet, chances are they move on to another task and completely forget to enter their data. That missed data could mean big issues for a company on many levels.

What’s happening now

Today’s asset management and tracking systems, offer an easy to use software and implement the framework that allows companies to become more efficient and boost the bottom line by making the best use of existing resources to achieve results.

In learning how to track assets, simply start with a few fundamental actions:

  1. Know what assets you need to track;
  2. Be sure you track assets immediately as they come into a company;
  3. Select appropriate reporting and analytics functions that work for YOUR company. Find a software that works with you and changes as your business changes;
  4. Embrace mobility – it’s here for the long haul (and it will save you money!).

 

“Employees can record inventory transactions in the field with a smartphone or tablet, using the software’s built-in mobile scanner, providing accurate, real-time data of inventory and assets. “

 

Two important components have made a major difference in how to track assets:

Mobile technology. 

“Going mobile” has simplified the asset tracking process and made it more efficient. Employees can record inventory transactions in the field with a smartphone or tablet, using the software’s built-in mobile scanner, providing accurate, real-time data of inventory and assets. After an item has been scanned, the software knows what to encode into the system so that application will be able to read and process it, and the mobile app knows what information to expect, and how to send information back to the web application. That asset data can be viewed by any allocated user no matter their location. Instant accessibility.

Reporting. 

Asset tracking reports need to deliver real-time data at every level, from a snapshot of your asset locations to insights into asset actions including check out, maintenance history, and change history. Accurate data is critical in helping a company make confident business decisions. Finding a software that allows companies to customize the data recorded can make a big impact across the board.

Beyond these two features, when learning how to track assets, finding a software that is flexible, easy to use and at an affordable price point can determine which program you choose. It’s not worth the money to use software that requires you to buy additional hardware to use or limits the number of users you can add. Efficient asset tracking and management requires a system that adapts to how you work.

Asset Panda’s cloud-based software, paired up with our mobile apps, is the most versatile asset tracking software on the market. We offer a highly customizable solution that is flexible, easy to use and does not require extra software or equipment. It is the program to use when needing to learn how to track assets. Our flexible interface makes it so you can set up our software in a way that best suits your company. You can use the mobile app to access and update asset information in the office or out in the field. If the basic software doesn’t provide you with what you need, you can add modules to access features specific to your individual needs.

Want to learn more? Asset Panda user Cellular One saves up to ten hours a week. What could you be doing with an extra ten hours of time? Tracking assets shouldn’t be challenging or time-consuming and once you learn how to track assets properly, you’ll never look back. Visit www.assetpanda.com today.

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