When it comes to managing your company’s assets, you don’t want to spend countless hours tracking equipment down, or guessing when it’s been in for service last. You also don’t want to go searching through files and stacks of paper looking for lease agreements and terms for your equipment. In today’s fast-paced business environment, we want to know the most up-to-date information, and we want to know it now. Whether you own your equipment or lease, having an accurate and timely way to manage leasing equipment software and the tools that accompany it is no longer a problem to find.
Many small businesses don’t have the cash or financing readily available to purchase an extensive supply of tools or equipment for their office or work environment. That’s where the option of leasing comes in handy. Leasing assets is an excellent way to acquire the equipment your company needs while saving money.
When you lease an asset, you don’t own it. For certain assets that are likely to become quickly outdated in a few years, leasing may be better than owning the equipment so you don’t have to deal with buying an asset that will grow useless or old in a short window of time.
Technology is continually advancing, and new products are being introduced to the market all the time. For many companies, investing in equipment that could become obsolete in a year or two just doesn’t make sense. Again, that’s where leasing becomes a more viable option. Due to the nature of technology, many leases come with the opportunity to upgrade after a certain amount of time has passed, ensuring that the company can continue running their business with the most up to date equipment/software and the leasing company continues to retain their customers.
Managing leased equipment, infrastructure, tools, and technology throughout the life of the asset is essential to avoid taking on additional expenses from loss, theft, or preventable damage. Companies that implement an asset tracking and management platform that includes the option to customize their data for leased or owned assets can immediately get a much clearer picture of their asset portfolio. This enables companies to know exactly what assets they own vs. lease, where all of their assets are and complete maintenance history on all assets in inventory.
Many of today’s asset tracking platforms give employees all the tools and training necessary to maintain real-time inventory data collection as part of their day-to-day workflow via built-in barcode scanners that can be used on smartphones or tablets they already own. The data gathered can be useful for company audits or budgets which determine the viability of purchasing individual pieces of equipment in the future rather than leasing.
If your company decides leasing is what’s best, Asset Panda’s leasing equipment software will help you track your equipment, software, machinery, and more. There’s a lot at stake when your company uses assets that don’t belong to them, and keeping accurate records will help you avoid some issues when it’s time to return the equipment at the end of its lease term.
With Asset Panda’s free mobile app, your employees can keep your database updated wherever they work. This means you can rely on regularly updated information about your leased assets. You can make sure they’re being held in the best condition, and can quickly address any potential problems as they happen.
Asset Panda lets you focus on your business. We take the guesswork out of the process of tracking and managing assets of all kinds. Learn more with a free 14-day trial at www.assetpanda.com.
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