Why Invest in Asset Inventory Software?

By May 3, 2017Asset Tracking, Blog

Why Invest in Asset Inventory Software?

In today’s competitive business environment, knowing what you have, where it is and the condition it’s in is some of the most important data a company can possess. Businesses both large and small depend upon a large inventory of vital assets every day, yet many companies remain unaware of the assets they own. Adding asset inventory software to a company’s required list of operating components is one of the most important tools a company can add to quickly and easily solve that dilemma.

Accurate reporting of assets is vital to the health of any organization or industry. When a company relies on its assets so heavily for daily operations, mismanagement directly impacts bottom-line revenues. Yes, investing in asset inventory software can add to already heavy expenses or take a portion of a budget, but on the flip side, knowing what all of your assets are, who has them and their maintenance status has actually saved companies thousands of dollars.

Many companies don’t want to spend the money to add an asset inventory software component to their operations. They are perfectly happy working with outdated ledgers or online shared spreadsheets – both of which are prone to errors that can be incredibly costly — both financially as well as with manpower — if not caught and rectified. When it comes time to locating an asset that may be lost or stolen, the course of action is a time-consuming search to determine who has the item, where he/she might have taken it or if it can be found at all. Once (and if) an asset is located, it could be in disrepair due to failure to keep it on a regular maintenance schedule. The wasted time and money in this scenario can add up quickly, especially when it reflects a larger issue of deficient asset tracking procedures.

Modern asset inventory software gives users access to a custom database that presents data securely, in real time, so that at any time of day or night, employees know where an item is and who checked it in/out; and at the same time can keep tabs on assets’ regular maintenance, which prevents unnecessary repairs and other expenses, keeping their equipment in good working order.

Asset inventory software also eliminates guesswork and helps stakeholders make informed decisions that are in the best interest of the company as a whole. The software aids with the challenge of how a company can maximize the lifespan of their assets and if they are making a relevant contribution to the business or if they are more of a financial burden and not necessary for use.

If a company carries inventory of an item for sale to consumers, users have access to said inventory at every stage of its journey – from warehouse to customer, and can track how many units they’re selling, enabling them to replenish inventory when needed, track sales cycles, or take an item out of stock if it’s not performing up to par.

A company that invests in the right tools to manage and track assets and inventory is promoting more accountability and better insight into the inner workings of the business. Asset inventory software essentially closes the communication loop among all stakeholders and provides a single destination that data can be delivered and all stakeholders have a sense of confidence that what they are viewing is in real-time, all the time.

Asset Panda offers the most powerful, yet simple mobile asset inventory software solution. With a roster of clients spanning everything from global brands to small nonprofits, our flexible tool offers an easy-to-use, completely customizable system that empowers you to track your assets and inventory exactly how you want. Powered by free Android and iOS apps the sync with the cloud, Asset Panda requires no additional hardware or software to operate. The tool includes a mobile barcode scanner for greater convenience and cost savings.

Designed it to be the most user-friendly product on the market, Asset Panda features a simple user interface, custom dashboard and an extensive list of customizable features, including alerts and notifications, reporting and exporting, fields and actions, user configurable views, sortable columns, the ability to generate work orders and so much more.

When your asset inventory software is top-notch, you can rest easy that the information you provide your team is reliable as well. Asset Panda provides that and so much more. Give us a try free for 14 days. Visit assetpanda.com to get started.

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