When it comes to asset tracking, many companies often overlook fixed assets. However, using a fixed assets tracking system is just as important as using a system to track your circulating assets. You’ve invested a lot of money into real estate, equipment, technology, and more. Why risk losing that money by not tracking your fixed assets?
Here are top reasons businesses tend to not use a system to track their fixed assets.
Fixed Assets Have a Longer Life Cycle
Real estate, heavy machinery, and even patents will last much longer than other kinds of assets. Since you expect them to last for a long time after purchase, you might not think it important to track them. However, if these assets aren’t maintained, their lifespan will be much shorter than expected, and you’ll be forced to spend more money to obtain new ones. A fixed assets tracking system can remind you on a monthly or yearly basis to send equipment in for maintenance or to inspect your buildings to make sure everything is up to spec.
Fixed Assets Don’t Change as Often as Other Assets
Rotating inventory changes frequently. But equipment, computers, and buildings last for years, sometimes with little change. It’s hard to justify tracking assets that don’t require a lot of attention, but that’s exactly why you do need to track them. When you’re busy, you tend to forget about the things that don’t need immediate attention, and they can fall into disrepair, which will put your investments at risk. Using a system to schedule checkups and repair will ensure that you won’t be caught unaware by less frequent changes.
Companies Don’t Know How to Maintain a Fixed Assets Tracking System
If you’ve never used an asset tracking system before, trying to track your fixed assets can seem like a mystifying process. However, with the use of a dedicated tracking software, you won’t have to figure it out on your own. You’ll be able to use tried-and-tested systems and make sure your fixed assets are maintained as well as your circulating assets.
Asset Panda understands that you’ve invested a great deal of time and money to get the fixed assets you have today. You need your technology and machinery to function at top operation as much as possible so you can continue providing the products and services that bring in revenue. Our cloud-based software is designed to notify you of updates and changes to any of your fixed assets. Your employees can use their smartphones to update fixed assets records as they change, so you don’t have to try to remember to do it when you get back to the office. Best of all, our platform was created with usability in mind, so you don’t have to spend hours trying to configure it in a way that works for your business. Our customer support staff will be on hand to help you with any issues you might have during the setup process.
The asset tracking industry is expected to grow by more than 27 percent in the next four years. Keep up with market growth with a company that has been providing asset tracking solutions for businesses across a variety of industries and is consistently cited among the top asset tracking software.
Want to see why so many companies choose Asset Panda? Check out a free demo today!