The Best Time to Purchase Asset Inventory Software: Before Mistakes Happen


Asset inventory software is a fast-growing market, as more companies and organizations better understand the bottom-line benefits of taking a more formal approach to their asset and inventory management and tracking. Regardless of the size of an organization or its respective industry sector, companies across the board stand to save time and money and experience increased efficiencies with asset inventory software.

Unfortunately, it often takes an expensive mistake or other miscalculation before a company moves this topic to the front burner and decides it’s time to start shopping around for a good asset inventory software solution. On the asset tracking side of things, common mistakes include errors related to the depreciation figures a company must supply to its accounting and finance teams; the loss of an important asset; gaps in asset recordkeeping; failure to keep up with maintenance schedules and premature breakdowns (resulting in loss of productivity) of equipment that keeps the business running. As for inventory management, it’s not unusual for companies to make errors in forecasting, which then can result either in too little or too much inventory. Maybe seasonal variations haven’t been accounted for, or accurate values haven’t been reported. Or maybe there’s missing inventory. The opportunity for confusion, frustration, and general mismanagement is great when you’re relying on manual processes – most often an Excel spreadsheet – to stay on top of your asset and inventory management.

Your asset and inventory data are an ever-changing entity, which is part of the reason why human error is so common. And, let’s face it – your employees are flat-out busy, so it makes good business sense to outsource these functions to an asset inventory software product that automates much of the process and gives you peace of mind with the knowledge that your data on which you base many of your most critical business decisions is indeed accurate.

When you’ve decided to purchase asset inventory software, it’s a decision you want to get right the first time. You want maximum buy-in from all of your stakeholders – and to gain that, you need an easy-to-use system with no intimidation factor. The ultimate success of your tracking and management efforts increases exponentially if you’ve got buy-in from as many stakeholders as possible. When you can bring everyone who’s involved in the respective lifecycles of your assets and inventory into the communication loop, you subsequently increase accountability and accuracy throughout your entire organization. Related to ease of use are flexibility and customization. Your asset inventory software should allow you to track and manage your assets and inventory any way you want; it should accommodate your needs today, tomorrow and well into the future. The Internet of Things is a forthcoming reality we’re always hearing about. Technology is constantly changing, so you need a solution that’s flexible enough to adapt on a continual basis.

In short, you need Asset Panda, the world’s most powerful, yet simple asset inventory software. All you need to use Asset Panda is the mobile device you already carry. Download the free iOS or Android app, and you’ve got everything you need to manage your assets and inventory. The app includes a built-in barcode scanner, and it syncs with the cloud for real-time data access 24 hours a day. You can add as many users as you’d like at no extra charge. The features offering is both extensive and totally customizable. And the interface is intuitive, so your employees won’t need any special training to get up to speed quickly.

Here's a great example of Asset Panda can help simplify the process of tracking and managing IT assets:

Asset Panda is garnering great reviews for its ease of use, power, and flexibility. Give Asset Panda a try free for 14 days, and you’ll quickly understand how this remarkable platform delivers bottom-line savings of time and money that can help you stay competitive in the marketplace.


Courtney Roush

Courtney Roush is a freelance writer, editor, and communications strategist with 25 years of experience. Her favorite discipline is crisis communications – and it’s a highly relevant one in our present times.

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