Asset Management Benefits For Colleges and Universities

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The entire structure of asset tracking at college and university campuses has changed. To contribute to their student's success, higher education facilities are realizing that the provision of excellent physical and virtual assets that meet the learning needs of their students will assist in ensuring the sustainability of the college. The assets provided to staff, faculty, and students go way beyond just a computer or a printer. And that's where the asset management benefits from implementing a university asset management and tracking platform come into play.

What are higher education and university assets?

An asset is something that has value for an organization. What the value is, such as a computer, athletic equipment, vehicle, or dorm furniture, and what form the value is depends on the organization and its stakeholders. Colleges and universities are responsible for managing a large number of assets, buildings, and equipment.

These assets may be located at various buildings on one campus or spread out to different locations off-campus. No matter where university assets are located, they need to be tracked and maintained. That also includes keeping up with service requests and maintenance schedules so that the assets are consistently usable and do not interrupt the learning (and living) environment.

As with any education structure, money and funding typically are essential topics that come into play regarding assets. Some assets can stand the test of time and be moved from place to place and person to person with little or no issue. Other items constantly need upgrades and must be closely monitored to ensure they are in good working order. The asset management benefits colleges and universities seek are easily found within asset tracking software platforms.

The benefits of using a university asset solution

The asset management benefits colleges and universities seek are available within most university asset tracking software solutions.

The ability to make better informed decisions

The most significant asset management benefit from proper tracking is the ability of institutions to manage their limited financial resources by making informed decisions. Asset tracking data can provide information on assets such as asset life expectancy or organizational risk. This allows organizations to know how assets are used accurately and if they are a benefit or a financial drain to the university system.

Use of barcode scanners

Because assets are always on the go on and off campus, the use of built-in barcode scanning mobile technology is a game-changer for higher-education asset tracking. With a scanner accessible from the university staff's smartphone or tablet, they can scan a barcode and, in an instant, have access to an asset's:

  • age
  • maintenance history
  • manufacturer
  • serial number
  • size
  • capacity
  • replacement cost
  • location
  • previous users
  • and so much more

When maintenance is needed, users can easily create work orders from a central database, and you can track the order to completion.

Even More Higher Education Asset Management System Benefits

The asset management benefits also include the ability to:

  • Compile accurate information about assets to analyze performance
  • Schedule preventative maintenance
  • download reports in a digital format to a computer, smartphone, or tablet
  • Customize reports to see data that is most important to each user
  • Access a cloud-based platform that is accessible anytime, from anywhere
  • Know the history and changes to an asset, whether it was an update to the cost or depreciation or whether somebody added a classification or field
  • Meet audit requirements

With university asset management software, asset condition and history knowledge is no longer accessible via error-prone spreadsheets or to specific employees.

Asset Panda's asset management software system for higher education institutions

Asset Panda gives educators a simple, powerful tool to track the location and status of every one of the vital assets upon which they and their students depend.

With Asset Panda's free Android and iOS apps that sync with the cloud, administrators, teachers, and other users can scan items for inventory using the mobile devices they already carry. A mobile barcode scanner is among the features in the Asset Panda app, eliminating the need for a separate handheld scanner – an item associated with traditional asset tracking systems that ultimately require repair and replacement.

So you don't need any additional hardware or software with Asset Panda; the entire lifecycle of your vital assets lives in the palm of your hand.

Now is the perfect time to take advantage of Asset Panda's asset management benefits for your higher-education institution.

Interested in learning more about our asset management solutions for higher education facilities? For more information, get your free 14-day trial (no card required).

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