Effective inventory management can be the difference between making the sale and losing it to a competitor. Common sense tells you that if you don’t know what you have or where it is, you’re going to have a tough time selling it to your consumers. The same can be said when it comes to tracking a company’s assets. How can your team do their job well if they don’t have the tools to do them? Or if they have the tools, are they in optimal working condition to do the job needed? Asset tracking software is a low-cost inventory and asset tracking tool that can potentially save your business thousands of dollars down the line.
When companies think of new technology and software programs that manage assets and inventories, they think it will cost a fortune and that it will require lots of expensive equipment and hours of training to learn the program. That’s simply not true anymore. While there are large, detailed and expensive inventory management systems out there, businesses are finding that cost-effective, easy-to-use software exists featuring mobile apps that can be used on employees’ own smartphones and tablets and take virtually no time to learn to use.
Taking stock of inventory or assets is of utmost importance when a company relies on these items for daily operations. Depending on the business or industry, it’s often an annual exercise. This can be an incredibly time-consuming process, especially if there are thousands of assets that need to be counted or an excessive amount of inventory. It used to be that companies had to invest in expensive hand-held scanners that were in limited supply and always in demand by multiple users. These scanners only captured a small amount of information about an asset or SKU of inventory. However with today’s low-cost inventory and asset tracking tools, one of the most beneficial features is that of the included barcode scanner.
Now companies have upped their accuracy and efficiency thanks to this tool. Employees can have access to the full lifecycle of an asset such as where it is, who had it last, it’s maintenance history, as well as pictures of the equipment, videos, notes and even GPS coordinates. Having access to this data allows employees to work together and they always know where an asset is or in terms of inventory, what current stock levels are, sales information or when the next batch is up for reorder.
The cost of implementing asset and inventory tracking tools speak for themselves when it comes to audit and budgeting time. And in terms of being a low-cost inventory and asset tracking alternative to error-prone ledgers and shared spreadsheets, you can’t afford to not to utilize them when you see how much a mistaken entry or a presumed-to-be lost asset can cost the bottom line.
With asset and inventory tracking, companies reap many benefits including:
- Significant time savings
- No more lost items — look up assets and find their locations immediately
- Eliminate guesswork from repair and replacement decision-making
- Reduced taxes
- Savings on property insurance
- Reduced asset losses
- Fast audits
- More accurate reporting
- Store all information related to an asset in one location
- Save time and money
Asset Panda is the best asset and inventory management tool on the market today. Asset Panda’s flexible asset tracking system, available via free mobile apps and on the web, gives organizations large and small a comprehensive, lifecycle view of their vital assets and equipment. Completely customizable, clients are entitled to an unlimited number of users and may add specific details in their custom entries, like repair and replacement costs, current condition and administrative information.
The depth of the information Asset Panda provides its users empowers clients to make better, more informed decisions, eliminates guesswork and costly errors, and cuts down on wasteful spending. Find out more and start your free 14-day trial today at assetpanda.com.