Equipment Checkout Software Promotes Streamlined Asset Management

If you’ve ever had a piece of equipment vanish, then you likely understand the need for equipment check-out software. This technology has saved countless organizations time, money, and, perhaps most important, frustration. With equipment check-out software, you can monitor your equipment's exact whereabouts and condition 24 hours a day, seven days a week. The best equipment check-out software provides you access to the complete lifecycle of your vital equipment through the mobile devices you and your employees already carry.

Equipment Check-out Software Versus Manual Tracking

Traditionally, employees have had to wait until they were sitting in front of a desktop computer if they wanted to access their data. They usually relied upon an Excel spreadsheet to log all of their equipment and each item’s data, including warranty information, lease/purchase information, maintenance schedule, check-in/check-out status, depreciation, and more. Manual recordkeeping has its drawbacks, however.

First, staying on top of so many moving parts is difficult. Some of your equipment may change hands frequently, and each item has its respective maintenance schedule and other unique data. Busy schedules, unexpected fires, and employee reorganizations can create gaps in recordkeeping. Typos are an unfortunate yet common occurrence in manual recordkeeping.

And Excel spreadsheets don’t allow the consolidation of data. Spreadsheets often waste time for employees who have to spin their wheels, get on the phone and hunt down lost assets. Ghost assets, or assets that go missing but aren’t reported, are another result of poor recordkeeping and can cost companies thousands.

The Benefits of Using an Equipment Check-out System

Equipment check-out software outsources the demanding task of equipment and maintenance tracking so your employees can focus on other priorities. One of the software's best features is the ability to bring all your stakeholders into the conversation, eliminating communication gaps and mistakes and increasing accountability throughout your organization. Best of all, you enjoy the peace of mind from knowing your data is accurate and in real-time.

The failure to keep up with routine maintenance can cost you much more than you realize. You rely on your equipment, so you’ll likely need an emergency repair. Parts may need to be rush ordered or shipped from far away for an additional fee. You’ll inevitably reduce theft and loss and maximize the lifespan of your investments.

Why Proper Equipment Maintenance Tracking Matters

Meanwhile, productivity stalls and delays can spill over to other projects. And this is the best scenario. The worst situation is that you can’t repair your equipment, and you’ve got to either rent or purchase a replacement, which cuts into your bottom-line profits.

When you have access to maintenance histories and schedules anytime, you can stay on top of maintenance and keep equipment in good working order, avoiding breakdowns and lost productivity. You can set up custom notifications to alert you when items are checked out and returned and when your assets are overdue for return or due for service.

Comprehensive and accurate records also enable you to create equipment refresh schedules and make more informed decisions about your equipment needs across the organization. It’s also easy to create reports, pull depreciation figures for accounting and compliance purposes, and generate work orders.

Asset Panda's Equipment Check-out Software

With Asset Panda, your smartphone or tablet is all you need to manage your equipment effectively. It’s the most powerful yet intuitive equipment check-out software on the market.

Want to learn more? Give Asset Panda's asset management software a try with a free 14-day trial (no credit card required)! You’ll receive full access to user guides, video tutorials, free mobile apps, and call-in and live chat support from our incredible Asset Panda support team.