What’s Up With Inventory Tracking Software

By October 17, 2017Asset Tracking, Blog

What’s Up With Inventory Tracking Software

Every day you hear about the latest innovations in technology. New styles of smartphones. Lighter and more functional tablets. Software that is more efficient and faster. For companies that keep inventory, being able to keep up with the constant customer demands and changes in technology at the same time can be quite a challenge. Finding an inventory tracking software that can change as their business, customer base or even industry as a whole changes shouldn’t be a challenge.

It’s no secret that keeping up with inventory is a time-consuming and sometimes mundane job. However, it’s also a very important job. No matter what size the business is, when it comes to inventory tracking software, it needs to allow users the capability to know what a company has, where it is and its condition.

Accurate and efficient inventory tracking has become more scrutinized over the past few years. Companies use the data recorded when it comes time to set budgets for the next year or in company-wide audits. The data can determine what items are selling well. What items may not be selling and should not be reordered. It also identifies trends as to when items are more popular and with what demographic group. Recording data in a ledger or on a shared electronic spreadsheet just doesn’t cut it anymore. They are subject to many errors and companies simply can’t – and shouldn’t – risk their profitability on templates that are sub par.

Maintaining accurate records on inventory and assets are probably one of the most common challenges companies face when it comes to tracking. Items are constantly on the move and keeping up with them takes more effort than many employees realize. It’s practically impossible these days to track assets and their location and condition without a real-time, technology-based system. The short-term result of not having inventory tracking software in place is a lot of guesswork, purchasing unnecessary replacements, and countless man-hours spent (and wasted) searching for items. The long-term ramifications include lost revenue, unhappy customers and even a damaged reputation among shareholders.

Many companies don’t realize the benefit of implementing inventory tracking software with the tracking of fixed assets. Fixed assets play a vital role in companies who carry inventory and are moving items about. Fixed assets are the items that help you run your business – IT equipment, office furniture, vehicles, your office space and land, and even trademarks, patents or copyrights. Unfortunately, many companies fail to realize that they’re responsible for tracking and reporting their fixed assets each year for tax and compliance purposes. Fixed assets lose value each year, and their depreciation must be noted.

A good inventory tracking software program can record data for both inventory control and fixed assets. It’s an even bigger bonus if the software is flexible and allows you to create custom fields for data. There are lots of programs that work as they think you should. Find one that works as YOU want it to.

Asset Panda offers a flexible inventory tracking software, which is designed to replace expensive and outdated processes. Our integrated system combines the use of free mobile iOS and Android apps, the cloud and a built-in barcode scanner using devices employees already carry. Any organization with inventory and/or fixed assets can use Asset Panda and experience significant and measurable bottom-line results.

Asset Panda is designed with the philosophy that our clients should be able to track their assets exactly how they want. That’s why the tool is completely customizable to meet your specific needs. Create custom fields, generate custom reports, alerts and notifications, select location-based user security and organize your data by location, category or other criteria. Use the mobile check-in/check-out feature, track depreciation and inflation, conduct a mobile audit of your assets, and so much more.

Cost savings are very important to companies of every size. With Asset Panda, you are already saving from day one since the Asset Panda app includes a mobile barcode scanner. Save even more because there’s no need to purchase additional hardware, software or associated licenses.

With Asset Panda, the entire lifecycle of every one of your vital assets  lives in the palm of your hand. The task of finding an inventory tracking software that grows as your company grows is no longer a challenge. Let Asset Panda be your guide to tracking success with a free 14-day trial. Visit www.assetpanda.com today and find out how.

 

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