5 Features To Look For In an Asset Tracking Service

Effective asset tracking starts with getting the foundation in place: the tools, systems, and applications that enable asset tracking coupled with the right software solution that streamlines data collection and analysis. With so many options out there, companies need to be sure they are selecting the right asset tracking service for their specific needs.

The most important part of choosing any asset tracking service is to find one that works for you. Even if you find the highest-rated software that’s getting rave reviews from everyone in the industry -- if the program doesn’t do what YOU need it to do, then it isn’t for you. The benefits of asset tracking are numerous and can contribute to a healthier bottom line for organizations that properly implement effective asset management processes – and that means starting with the right asset tracking service.

Here are 5 features to look for when it comes to an asset tracking service and making it work for your company:

1. Flexible and scalable. Find an asset tracking and management platform that is configured to fit your company’s unique needs today, and as your company grows in the future. There is no one-size-fits-all method, and that goes for asset tracking. No two companies are alike and neither are their tracking requirements. Your selected service should be flexible and customizable to change as YOU need it to.
2. Easy to use. One of the hardest things to do is to accept change and adopt new technology. But that is our reality. That’s why it is important for a company to choose an asset tracking service that is easy to use, understand and implement. Companies don’t have time to teach employees a challenging and hard-to-understand system. They need to spend minimal time but get a maximum investment. Find a platform that is intuitive yet simple.
3. Allows for unlimited users. Today’s asset tracking service is in tune with “the cloud” – surely you have heard that phrase many times by now. Many asset tracking services now securely store data on their assets in the cloud. This means that all users have access to a comprehensive database of real-time, up-to-date information that allows each authorized user to discover everything there is to know about a company’s assets. Everyone from active employees to managers to auditors and financial planners can see the same information as needed.
4. Provides improved financial reporting. Repeat and duplicate purchases equate to lots of unnecessary expenditures. Failure to maintain assets can also lead to increased costs. Find an asset tracking service that provides a better understanding of a company’s assets so employees don’t have to guess about things like when a computer was purchased or a company vehicle went in for service. Improved reporting ensures that companies can anticipate upcoming purchases and prepare for upgrades, service packages, replacing an asset or putting it out of service. This is especially helpful when conducting company audits and planning budgets/spending for the following year.
5. Eliminates ghost assets. A ghost asset refers to property that’s lost, stolen, or unusable and yet remains listed as an active asset. Finding and eliminating ghost assets from your books is critical to demonstrating you no longer own the asset and should not be charged for it.

Asset Panda’s asset tracking service is giving companies of all sizes better business accountability. Asset Panda offers a variety of benefits to users who seek to manage all of their assets. Our powerful asset tracking service and mobile apps are designed to replace costly hardware, software, and outdated spreadsheets. Unlike other systems, Asset Panda is highly configurable, so it can become whatever you need it to be and can adjust as your needs change. Asset Panda works the way you do, making it easy for all your users to access the information they need, when they need it, from wherever they happen to be working. Find out more at www.assetpanda.com.

 

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