In order to be profitable, businesses need to compile accurate and up-to-date records of its fixed assets. Failure to watch spending can negatively impact a company or organization’s growth. Purchase orders are a clear way of communicating the needs of businesses to a specific vendor. By implementing a reliable and precise purchase order platform in tandem with a consistent asset tracking system, companies are better positioned for success and being more aware of what assets they have and their impact on the business.
A good purchase order platform starts with three key components that are vital records to any business:
- managing what is being purchased,
- what are the negotiated prices,
- which vendors provide goods and services
By keeping track of these details, the purchase order platform enables staff to easily identify areas that need to reduce spending, enforce policies and processes, or eliminate redundancies. Additionally, employing a flexible purchase order tool to assist in managing assets, is critical in allowing executives to view permanent records of all purchasing activity, audit past purchasing documents as needed and establish efficient and effective processes within the business.
Purchase order management is a significant component of your assets’ lifecycle and by incorporating Asset Panda’s suite of robust, easy-to-use asset tracking tools, you can configure the system to work however best fits your organization.
Within Asset Panda, you can request, approve, and generate purchase orders. Once an asset is scanned into your inventory, you have visibility for the entire lifecycle of the asset. The system can email an entered purchase order to the appropriate party, i.e. a vendor or the accounting department. Once you have received your order, add a new asset for each of the items you purchased and attach the purchase order and invoice to each new asset. Record your assets’ entire lifecycle – from purchase, repairs, maintenance, to sale or disposal – all in one easy to use purchase order platform. The app also has an electronic-signature feature that can be used, so there is accountability on all actions related to your assets.
The mobile app allows for easy reference, updated reports, and audits while you or your staff are on the go. It is fully integrated into the web app so there is immediate data transfer. This ensures all users have up-to-date asset information. The function can do broad overviews or go deeper within the data for a more detailed view of asset actions, including change histories, checkouts, and maintenance.
With Asset Panda, you can create purchase orders and email them to the right party so that each your orders are approved before the order is placed and costs are incurred. Pertinent parties will then always know what has been ordered, which could help reduce paperwork and duplicate orders.
Asset Panda is the easiest, most intuitive mobile software system to track and manage your fixed assets — administering, organizing, supervising and tracking all operations and activities that occur during the lifetime of an asset. Asset Panda is a cloud-based and mobile-accessible asset tracking platform, used by unlimited users, for an unlimited number of devices, and across as many locations as desired. The mobile app is compatible with both iOS and Android devices and has a built-in barcode scanner so there is no need for extra equipment to be purchased.
Despite a powerful suite of features, Asset Panda is both simple to use and completely customizable. Create custom fields, notifications and reports, even issue work orders through the app. Asset Panda displays such vital data as check-in/check-out status, maintenance schedules, purchase/lease information, service contract information and expiration dates and insurance policy information and expiration dates.
The most powerful mobile asset tracking platform in the world, Asset Panda gives you quick, easy access to the data you require to run your business efficiently. Asset Panda has built the system companies need for fixed asset tracking and management, and they offer the training and support to back that need up. To see for yourself, try Asset Panda free for 14 days. For more information, go to assetpanda.com.
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