The term inventory asset tracking describes two different functions, but it’s possible to find a tool that can perform both of them efficiently and easily. Inventories are the items or parts of items you sell for revenue, while assets, or fixed assets as they’re often called, are the items that help you conduct business and earn that revenue. Fixed assets aren’t sold; you hang on to them for a year or more, until they’re no longer usable and require replacement. Typical fixed assets include furniture, IT equipment, real estate, company vehicles, A/V equipment, books and more. Some of those items – in particular, IT and A/V equipment – may change hands on a frequent basis, or otherwise spend much of their time in transit, which therefore increases your risk of theft or loss.
When it comes to your inventory, you’re challenged with maintaining that fine balance between overstocking and under stocking. If you’ve got excess inventory, you lose money. Items languish on your shelves, sometimes becoming outdated, at which point they’re either sold at a deep discount, or discarded altogether. An inventory management platform enables you to view quantities across your entire organization, establish alerts when inventory dips below a certain threshold, plan for seasonal changes, perform audits, and more.
An asset tracking platform, meanwhile, helps you stay on top of maintenance schedules, so small repairs don’t mushroom into major overhauls or premature replacements. Additionally, asset tracking software tracks depreciation, so you can provide your accounting and compliance teams with the figures they require, and be confident that your data is accurate.
It’s hard to believe, but some companies – particularly small businesses – rely on pen and paper or Excel spreadsheets to manage their inventory asset tracking. Due to the impact that poor management of inventory and assets can have on your bottom line, you can’t afford to leave this function to chance. Manual inventory asset tracking almost inevitably will lead to errors. With a powerful inventory asset tracking platform, you get peace of mind knowing that your data is accurate, and that you’re not wasting time and money due to mistakes.
Asset Panda is the most powerful inventory asset tracking platform on the market, it’s easy to use, and it’s cost-effective. Our clients throughout the world represent nearly all industry sectors and include companies both large and small. We offer both inventory and asset tracking capabilities through our free mobile iOS and Android app. Clients also may choose Asset Panda powered by Pangata, an enterprise solution. Pangata enables clients to build custom apps for tracking their data. It’s just one more service offered by a company whose philosophy is that clients should be able to track their assets and inventory any way they want.
FitSmallBusiness.com recently named Asset Panda as its best asset management software for small business:
“We recommend Asset Panda as the best asset management software for small businesses because it focuses on asset management without the addition of other, possibly unnecessary, features, and is the most economical option in most cases.”
Asset Panda presents an intuitive, flexible and completely customizable solution to all of your inventory asset management needs. To start your free 14-day trial, or to learn more, go to assetpanda.com