How to Choose the Best Asset Inventory Software

If you're a company that moves a lot of inventory on a daily basis or uses dozens of assets to complete work tasks, you need to know you can rely on your asset inventory management system. You need the best asset inventory software out there. But with so many options to choose from, how do you know what to look for and which one will be right for your company?

The most important part of choosing a software is finding something that works for you. Even if you find the highest-rated software that's critically acclaimed by the asset management industry, if the program doesn't do what you need it to do, then it's worthless to your company.

The Best Asset Inventory Software Should Perfectly Meet Your Business's Needs

What do you need in an inventory management system? The best way to identify what your company needs is to determine how you'll be using any software you invest in. Here are some important questions to answer in order to identify what features you'll require.
  • What sorts of assets will you be tracking?
  • How will employees access your inventory database?
  • What kinds of information do you need to record?
  • Do you need to keep maintenance records for equipment or machinery?
  • How many locations do you need to keep track of?
  • What sorts of problems are you hoping asset management software will solve?
  • Are your assets liable to depreciation?
  • Are there other aspects of your business that your assets are involved in?
  • Do you have a centralized database for all company information, or do you need a system to be put in place?

The answers to all of these questions might change what the best asset inventory software looks like for you. If you need to track intangible assets, some asset tracking programs might not be equipped to store that kind of information. Also, many companies are hesitant to adopt new systems, as it often requires their entire team to learn a new way of doing things, but this can cost your company a lot of time and money in training wages; as such, you likely want an easy-to-use program which doesn't have a large learning curve.

Maintenance can also be tricky to track if you're working with a software that has limited configurability. Depending on what industry you work in, this is unacceptable. Equipment and machinery which isn't maintained can become a work hazard, threatening the safety and well-being of your employees.

Fortunately, Asset Panda has created a versatile asset inventory management system to meet the needs of many industries. With custom fields and configurable actions, you can set up our platform in a way that supports the way you currently do business. With Asset Panda, your team doesn't have to spend hours trying to figure out how the asset tracking system works. They can log in to your database from their smartphones and find inventory records right on the warehouse floor.

One of our construction clients uses Asset Panda for tool tracking and job site management. Our platform enables them to see exactly where their equipment is going, and which workers are using different assets on any given day. This enables them to keep track of how their assets are being used, which in turn helps them keep their construction equipment updated and maintained to ensure worker safety.

Want to see how you can customize Asset Panda to work with your business? Sign up for a free 14-day trial today!


Bree Brouwer

Bree has held plenty of media- and marketing-related jobs over the years now, like working as a PR and marketing assistant to a Hollywood screenwriting coach, and writing content for three different digital marketing agencies.

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