An Asset Tracking Platform Can Increase Accountability, Efficiency and Accuracy

Being so wrapped up in your day-to-day business that you overlook housekeeping matters is understandable. Unfortunately, overlooking small errors can eventually put a drain on your organization. Want to prevent this from happening to you, but don't know where to start? An asset tracking platform. That's it, that's the answer.

An asset tracking platform will have a significantly positive impact on your bottom line. Asset tracking is a large market that helps businesses and organizations operate more efficiently, saving time and money. Many business owners don’t even consider an asset tracking product until something significant happens – for example, having to purchase replacement equipment that wasn’t maintained properly or realize they’ve been paying insurance for assets that are no longer in their inventory. An asset tracking product delivers so many more benefits than merely helping you know where your fixed assets are located. These products also make companies aware of just how many fixed assets they own, what condition they’re in, and the value each one holds.

Not only does it help track assets, but also informs business owners when routine maintenance should take place in order to extend the useful life of their fixed assets and establish greater accountability and accuracy across the board.

Where do You Start?

Before you hop online and start to research all the asset tracking products on the market, be forewarned: There are many options out there, and they don't all offer the same things. They vary in terms of features, flexibility, ease of use and price point. Ultimately, you’ll want to go with an asset tracking product that’s scalable – one that will adapt to your needs and allow you to track your fixed assets any way you want.

Your business' future needs may not resemble its current needs, so it's best to get a product with customizable features that can adapt to new technologies as they become available. The platform you choose should be simple enough to teach every stakeholder involved in the lifecycle of your assets. A complex asset tracking platform will require extensive training and could cause confusion among your employees. Your ultimate goal is to eliminate miscommunication and promote more accountability. To confirm which platform is best for your company, inquire about a free trial period to give you a feel for how it works and what it offers.

Watch Out for Hidden Fees

Be on the lookout for hidden fees while browsing through different platforms. Some products require you to purchase additional hardware, like separate handheld barcode scanners, additional software, software licenses, or perhaps a user fee or cap. If you’re looking for a long-term solution – and who isn’t? – focus on products that are streamlined, give you 24/7 access to real-time data, and promote maximum participation among all fixed asset stakeholders.

Finding the perfect asset tracking platform that has all the right criteria may sound like a hard task, but the good news is that Asset Panda checks all of these boxes, and so many more.