Why You Need Asset and Inventory Tracking Management Software

By April 14, 2017Asset Tracking, Blog

Why You Need Asset and Inventory Tracking Management Software

When it comes to assets or inventory, one of the most important tools a company should employ is an asset and inventory tracking management software program. With a tool this powerful, companies can have the entire lifecycle of an asset right in the palm of their hands. And when it comes to inventory, accountability returns in a way that keeps all stakeholders responsible.

It’s commonplace in many large companies for them to have entire divisions devoted to tracking inventory. Dedicated teams know every detail about a product, when it was received, how many SKUs are listed among a certain item, how many are in stock, back ordered, etc. Tracking inventory can be the lifeblood for many companies. One slip up or missed an item, and it can be detrimental in terms of lowered sales or lost customers who leave and go to the competition to find the item they desire. But what about the smaller companies or even start-ups who have less staff devoted to inventory tracking management or who need to keep up with assets that allow a company to stay afloat? That’s where asset and inventory tracking management software comes in.

You’d be surprised how many companies don’t know what they have. They are losing thousands of dollars replacing items that they think might be lost or stolen when in fact they may have been misplaced or someone just simply forgot to check an item back in. Had a company utilized an easy-to-use tracking system, they would know where these items are and who had it last. And let’s not forget to mention the amount of time tracking management software saves employees who are frantically searching for assets or trying to determine how much of an item they have in stock or on order instead of doing their jobs. With tracking management software, this data can be known in an instant.

Besides the immediate financial and manpower savings, tracking assets and inventory has many additional benefits including:

  • Allows companies to analyze data on use, repairs, etc. when it comes to audit time and determine how useful, or not so useful, an asset is for a business.
  • In terms of inventory, companies can look at sales data and determine if an item is selling well, how often they have to reorder or scale back on an item, or if there are certain periods of time when an item sells better.
  • The addition of a barcode scanner with tracking management software is proving to be very valuable, saving companies vast amounts of money in not having to purchase handheld scanners. They take photos, video, notes of assets or inventory and can be tied to data recorded in the tracking software. Most employees have smartphones or tablets already and can upload the software to their own devices and have instant access to the tracking data.

Gone are the days where companies relied on handwritten ledgers or shared electronic spreadsheets to track their items. Today’s asset and inventory tracking management software give companies both large and small, across almost every industry, the ability to know what they have, where it is, who has it and its condition anytime, from anywhere.

Asset Panda has the reputation of being the most powerful, yet simple-to-use asset and inventory tracking management program available on the market. Asset Panda works the way you do, on devices you’re already using via free mobile iOS and Android apps that sync with the cloud to deliver real-time data 24 hours a day. 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 highly configurable, so it can become whatever you need it to be, and adjust as your needs change. Users can select features that are relevant to their business, and customize them according to their needs. Those features include a custom dashboard, custom fields, custom actions (like reports, alerts, and notifications), a calendar feature, custom security settings and more.

Asset and inventory tracking management are no longer available to just the “big guys.” Take the first step toward significant and measurable savings with a free 14-day trial of Asset Panda by visiting assetpanda.com.

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