How to Track Assets: Then and Now

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Companies these days are probably much more familiar with how to track assets than they were, say, ten years ago. The process has become much more streamlined and easier to use with less chance of error. Companies are saving money. Employees are saving time. So why wouldn’t you want to learn how to track assets the right way?

Tracking Assets: The Old Way

Just a few years ago, asset tracking was handled manually with a paper-based system or entered into an excel spreadsheet. Previously, both of these methods of tracking your assets had great potential. But now, this outdated method is filled with errors.

Just one misread ID code or a few mistyped SKU numbers could be detrimental to companies that rely on accurate data for their assets.

Employees want & need instant access to software programs. While shared online spreadsheets slightly sped up the process, this caused many problems. If they have to wait around to enter data while another employee uses the spreadsheet, they move on to another task and completely forget to enter their data. That missed data could mean significant issues for a company on many levels.

The New Way of Asset Tracking

Today’s asset management and tracking systems offer an easy to use software and implement the framework that allows companies to become more efficient and boost the bottom line by making the best use of existing resources to achieve results.

In learning how to track assets, simply start with a few fundamental actions:

  1. Know which assets you need to track;
  2. Be sure you track assets immediately as they come into a company;
  3. Select appropriate reporting & analytics functions that work for YOUR company. Find software that works with you and changes as your business changes;
  4. Embrace mobility – it’s here for the long haul (and will save you money!).

How to Track Your Assets with Mobile Technology and Reporting

Mobile Technology

“Going mobile” has simplified the asset tracking process and made it more efficient. Employees can record inventory transactions in the field with a smartphone or tablet, using the software’s built-in mobile barcode scanner, providing accurate, real-time data of inventory and assets.

The mobile app knows what information to expect and how to send data back to the web application. After you scan an item, the software knows what to encode into the system so that the application can read and process it. Any allocated user can view asset data no matter their location—instant accessibility.

Reporting

Accurate data is critical in helping a company make confident business decisions. Asset tracking reports need to deliver real-time data, from a snapshot of your asset locations to insights into asset actions, including check out, maintenance history, and change history. Finding software that allows companies to customize the recorded data can make a significant impact.

Beyond these two features, when learning how to track assets, finding software that is flexible, easy to use, and at an affordable price point can determine which program you choose. It’s not worth the money to use software that requires you to buy additional hardware to use or limits the number of users you can add. Efficient asset tracking and management requires a system that adapts to how you work.

Asset Panda's Asset Management Software

Asset Panda’s cloud-based software, paired up with our mobile apps, is the most customizable asset tracking software. It is the program to use when needing to learn how to track assets. We offer a highly customizable solution that is flexible, easy to use, and does not require extra software or equipment.

Our flexible interface makes it so you can set up our software to best suit your company. And you can use the mobile app to access and update asset information in the office or out in the field. If the basic software doesn’t provide you with what you need, you can add modules to access features specific to your individual needs.

Want to learn more? Asset Panda provides an average 800% ROI on saved time alone. What would you do with that extra time? Tracking assets shouldn’t be challenging or time-consuming, and once you learn how to track assets properly, you’ll never look back.

To learn more about how Asset Panda can simply your asset tracking process, get your free demo today! (No CC required).

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