Benefits of Inventory Asset Software Reach Far Beyond Cost Savings

By September 22, 2017Asset Tracking, Blog, Use Case

Benefits of Inventory Asset Software Reach Far Beyond Cost Savings

Business is complex enough without having to worry about lost or stolen assets, or whether you’re going to have excess inventory left over – and that’s why inventory asset software is a game-changer for any organization.

When it comes to your assets, you need a means to track and manage their entire lifecycle, from initial acquisition to periodic maintenance to their movement throughout your organization and, ultimately, their replacement. As for inventory, you need a simple solution for monitoring quantities, the distribution of that inventory, and number of units sold, as well as a reliable method of determining when it’s time to replenish your stock or make adjustments based on seasonal variables.

It’s not difficult to understand the havoc that mismanagement of your assets and inventory can cause. Lost assets are expensive. First, the cost: If you don’t have a way to track their exact whereabouts, the opportunities for waste are significant. Some companies continue to pay insurance on “ghost assets” that aren’t even in their inventory anymore, but haven’t been reported lost or stolen. Overlook maintenance, and those minor repairs are likely going to mushroom into more costly fixes. You may even have to replace the asset long before you should have to. Maximizing the lifespan of your fixed assets is in your best financial interests. On the inventory side, without a way to make informed decisions about stock, you’re likely going to face either an overstock or understock situation. When inventory languishes on your shelves, it ultimately can become outdated and useless, shaving money from your bottom-line profits. Understocking, on the other hand, leads to lost customers, which could lead to some bad online reviews … and more lost customers.

The right inventory asset software will deliver multiple benefits to your company, far beyond cost savings and better customer service. You’ll gain better insight into the inner workings of your organization as you’re able to track and manage the condition, location, volume, values and other critical aspects of your inventory and assets. With accurate data, you then have peace of mind that you’re making decisions based on facts, not guesswork.

Asset Panda’s powerful, yet simple to use inventory asset software combines all of these functions in one mobile app. Available in iOS or Android, this free app syncs with the cloud and includes a mobile barcode scanner. There’s no need for additional hardware – all you need to track and manage the entire lifecycle of your inventory and assets is the smartphone or tablet you already carry. Keeping in mind that your inventory and asset tracking efforts are only as successful as your ability to get everyone on board, Asset Panda entitles you to an unlimited number of users at no additional charge. So you can bring everyone involved in the inventory and asset conversation into the communication loop, increasing accountability and accuracy throughout your entire organization.

Every Asset Panda client receives full access to our complete and customizable features offering. You won’t need any training to quickly get up to speed; the app is incredibly user-friendly and intuitive.

With Asset Panda, you can create custom reports, notifications, and alerts, along with work orders; access an asset’s complete maintenance history; set up automatic triggers for inventory replenishment; quickly pull depreciation and inflation figures for your accounting and compliance teams; view warranty, insurance, and lease/purchase information; and track an item’s exact location and condition, among many other pieces of data. With this streamlined, yet powerful app, you’ll save money, time and frustration while you increase your overall efficiency and maximize your investments.

Here’s a look at how Asset Panda helps you create customized forms to meet your specific needs.

Give Asset Panda a try – free – for 14 days. To learn more or to get started, visit assetpanda.com

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