2 Key Asset Tracking Features in Your Business Software System

Tracking assets has become a routine and very important task in the daily operations of businesses of every size and across every industry. There are a variety of different ways to track assets but not all of them work in the same matter, and unfortunately, many methods are outdated and can cause major problems. Companies need to seriously look at the business software system they employ to track assets and see what it offers now and what it can offer in the future.

Finding a tool that allows you to customize the product to fit your needs and grows and changes as you do is one of the most important factors when looking to implement a new business software system. The product should be flexible and able to adapt as needed. If a product works as it thinks you need it to, not as you need it to, then it’s not going to work for your business. Here are 2 key elements to look for in terms of the right business software system for asset tracking and management:

Every business has distinct needs when it comes to asset tracking. Some only have a few pieces of equipment and maybe a handful of computers. While others have massive industrial warehouses filled with expensive equipment located across the globe. No matter the size or quantity, finding a platform that is fully customizable should be top of your list when beginning your search. You know what you need to track and manage – the software doesn’t and it shouldn’t dictate how you operate either. The users should have complete control over what and how data is displayed.

Complete customization means you can change every data field to reflect your organization’s structure and needs. Customize the dashboard, the notifications you receive, or set up your own alerts and notifications, and role-based security. Choose from built-in asset tracking reports or configure your own to fit your needs, including audit, action, change, depreciation and inflation calculation. Generate automated reports about your assets, organizing the data by location, category or any number of assets or inventory numbers.

Eliminating Guesswork
Monitoring the movement of your assets throughout your organization on a daily basis is a full-time job. Add to that trying to figure out who has an asset, when it is being returned, if it is in optimal working condition … it’s a task that could make anyone want to run for cover. Chances are that employees using assets on a daily basis are not thinking about maintenance histories, value, insurance information, condition, and whereabouts. They want to gain access to the equipment, use it for the job and move on to the next project. But what if the assets aren’t available because they are broken? What if they are lost or misplaced? These types of scenarios solidify the necessity for asset tracking programs as part of a business software system. Who has time to guess where assets are or what condition they are in?

Trying to stay on top assets with a shared online spreadsheet between multiple employees is not the answer. If multiple employees are charged with the task of record keeping, it’s nearly impossible to consolidate those records. Employees are tasked with more responsibility than ever before and in a rush to get projects complete and move on to the next one, it’s easy for typos to pop up in records. The long-term consequences as a result of unnecessary errors include an audit, lost revenue and, potentially, a loss of customers. Simply stated, inaccuracies are expensive and mismanagement can make it even more costly.

Properly managing assets is also very important from an accounting and compliance standpoint. Guesswork should never come into play here! Accurate tracking allows companies to stay on top of equipment maintenance schedules, saves considerable time since employees no longer have to hunt down lost items, and saves unnecessary costs associated with lost, broken or stolen items.

Asset Panda should be your asset tracking go-to as part of an overall business software system. With Asset Panda, employees have access to a simple, yet incredibly powerful mobile app available for both iOS and Android. The app is free and syncs with the cloud, enabling 24-hour access to real-time data. A mobile barcode scanner also is included in the app, negating the need for a separate handheld barcode scanner. No additional hardware or software is required to use Asset Panda – only the mobile devices your employees already carry. You’re also entitled to an unlimited number of users at no additional charge, which encourages organizations to bring every stakeholder into the loop. When everyone is included, the odds of error decrease, while accountability increases throughout your entire organization.

Unity Hospice has seen impressive results after migrating their asset tracking activities to Asset Panda. They now know where their equipment is at any given time, and no longer have equipment missing. The ability to pull reports anytime and from anywhere that have up-to-date data has saved them hundreds of man hours and allows them to really stay on top of things.


See how Asset Panda can be your asset tracking business software system of choice with a free 14-day trial. Visit www.assetpanda.com to learn more and get a quote for your specific business.


Audra London

Audra London, founder of Conceptual Communications, LLC, has over 10 years of writing, public relations and marketing experience and serves as an expert on press releases, media relations, feature writing, web content and marketing copy.

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