Add a Little WOW to your ROI with an Education Asset Management Solution that Saves Time and Money
You know the old saying, “Money makes the world go round?” Well, we have it on good authority that there’s definitely some truth to it. After all, how else are you going to pay for all the laptops you need to support your students during remote learning? The only problem is that there’s not as much money available as there used to be.
In a survey of more than 200 IT leaders focused on schools and other educational institutions, the Consortium for School Networking found that 42% of school districts in the United States were cutting their IT budget for the 2020/2021 school year.
Remote learning hasn’t made things any easier, either. For schools still tracking their assets with pen & paper, emails and spreadsheets, there are more financial challenges than ever before in today’s climate of 1:1 deployment like:
- Antiquated check-in/check-out processes.
- Higher probability of lost assets.
- Inaccurate asset tracking data.
Plus, you have no way to accurately track students that purposely damage or disable their laptops or other devices. It’s also difficult to retrieve assets from teachers who leave the job if you don’t have an accurate and accessible list of devices assigned to them.
All of these issues make you lose one thing you can never get back - time. For those still relying heavily on a convoluted spreadsheet to track assets, you will find the functionality of a spreadsheet will continue to fall short of your needs.
An asset management tool that provides you real-time updates and 100% visibility into your assets is essential to today’s education asset manager. Before you go spend money on an asset management solution, you need to know what you should be looking for.
Study Up On What To Search For In An Education Asset Management Tool
To save yourself both time and money, you need an asset management solution that’s robust, adaptable and efficient. To be the most efficient your asset management solution needs the following:
- Simplified check-in/check-out processes.
- Audit tracking.
- Service ticketing system.
- Contactless support.
- Open configuration.
- Customized reporting tools.
- Mobile applications.
- Google Workspace and active directory integration.
With these tools in your back pocket, you can cut down on the time you spend assigning your assets out to students and teachers alike.
You simply use the barcode scanner in a mobile app to scan the device, input the person who’s taking possession of it and hand it off. All of the data concerning each asset (who has it, location, maintenance history, due date, etc…) is saved in one centralized database for easy access no matter where you are on campus or at home.
By having this wealth of accurate data in real-time, you don’t have to worry about losing time tracking down lost assets or maintaining a flawed spreadsheet.
Secure More Education Grants With 100% Visibility into Your Assets
An efficient asset management system can also help you qualify for more grants to cover the costs of the devices you need to properly roll out a 1:1 deployment. Proving that you are using grant money effectively by keeping track of assets and their maintenance is pivotal in attracting more grant money. You can prove your case by creating reports that show:
- Asset inventory counts.
- Asset needs.
- Disposal data.
- Budgetary needs.
Once you’re awarded the grant, your asset tracking doesn’t stop there. You need to continue tracking everything from before plus you how you used the money you received. Provenance on the assets acquired must be maintained so you can show the organization that provided the grant that you used the money wisely and efficiently.
Asset Panda’s ROI Calculator: Your Bottom Line Is Our Top Priority
Before you make any investments, whether that’s on assets, software or personnel, you need to know about your return on investment. No one wants to lose money or assets, especially when it comes to their students’ education and their ability to receive education grants in the future. They want to know that what they’re getting will either make or save them time, money or both.
To help you see how an effective asset management solution can save you both, We have created an ROI Calculator to show you how our solution can do just that based on three primary points.
- Total Cost of Asset Loss
- Ghost Assets Management
- Asset Search Costs
To determine the total cost of asset loss, you simply input the number of people managing your assets, how many assets you have, their average value and the estimated percentage of lost assets each year.
Ghost assets management tells you what lost or inoperable devices are still costing you despite not being used.
Asset search costs helps you understand how much you’re losing in time and labor for staff to track down missing devices. By inputting the total number of days looking for lost assets and the average salary of staff looking for them, you can see how much money you’re losing each year.
Combining the data from these three points, the ROI Calculator shows you how much you could be saving each year through asset loss reduction, tax & insurance savings and audit search savings. It also tells you how much you’re risking each day you do not have a proper asset management system in place.
Get Time Back on Your Side and Save Money in the Process with an Asset Management Solution
Based on customer feedback, Asset Panda provides an average of 800% return on investment in time and wages saved by creating a more efficient and accurate asset management workflow. That’s time and money back on your side to continue supporting your students. Wouldn’t it be great to know that you have a tool that can bring so much value to your department?
To see how much time and money Asset Panda can save you, check out the ROI Calculator. After you’re done being amazed at the savings you could be enjoying, reach out to one of our specialists by requesting a demo today.