Asset Panda Tool Tracking Platform Curbs Loss, Trims Waste from Your Bottom Line

The Asset Panda tool tracking and asset management platform has the capability of saving organizations significant time, money and hassle. Almost any company stands to benefit from more efficient tool tracking. The typical organization depends on a great variety of tools in order to conduct business properly. Keeping track of those items within a single location is challenging enough. Now imagine if you maintain multiple locations across several territories, and you’re trying to track the whereabouts and condition of your tools. If you need to order more tools, it behooves you to order them in bulk. So it’s vital that you have an accurate picture of your needs across the organization. You don’t want excess tools sitting around idle; nor do you want your teams to be without the tools they need. If we expand the discussion of tools into equipment, then you’ve also got to take into consideration that your equipment requires periodic maintenance and servicing. From a financial standpoint, you have to consider the expense of equipment maintenance as well as replacement.

If you haven’t yet implemented a formal tool tracking and management system, you may feel as if you’re always buying tools that end up lost or stolen. The reality is, without a formal system, there’s no accountability. Employees pass tools around freely, and there’s no way for you to determine who has what and when – or the condition of those tools. Hoarding happens from time to time, causing other teams not to have what they need, and bringing productivity to a screeching halt. When that happens, the slowdown can create a chain reaction and delay other projects. Items fall through the cracks, and so you order more. The drain on your bottom line can be significant.

There’s another very important reason why you can’t afford to implement a reliable tool tracking and management system: the safety of your employees. If you’re not staying on track of maintenance, your equipment and tools could place your employees at risk for an accident.

At some point within the lifespan of any tool or piece of equipment, companies must determine whether it makes sense to keep that item in inventory anymore. There’s a critical juncture at which a piece of equipment has been serviced so many times and is operating so slowly or inefficiently that it’s likely time to consider replacing it with a new one.

Manual tracking procedures simply can’t keep up with the constantly changing details surrounding your tools and equipment. Excel spreadsheets invite errors, gaps and, ultimately, higher costs to you. The Asset Panda tool tracking and asset management platform removes the headache and frustration associated with manual tracking procedures and saves you measurable time and money.

With the Asset Panda tool and equipment tracking platform, everything you need to track your tools and equipment lives in the palm of your hand. Using your smartphone or tablet, you simply access Asset Panda’s free iOS or Android app, enter assets using the app’s built-in mobile barcode scanner, then view the complete lifecycle of your assets. Because of the app syncs with the cloud, your data is always in real time. From an item’s location, condition and complete maintenance history to its depreciation, insurance policy and check-in/check-out status, Asset Panda centralizes all of your vital data in one location. You’re entitled to add as many users as you’d like for no additional charge, so you can bring everyone involved in the conversation and eliminate the mistakes and communication vacuums of the past.

Here's a look at how Asset Panda helped a field construction company better manage its tool inventory:

Asset Panda’s customizable features allow you to organize your data exactly how you want, establish specific security settings based on user roles or locations, create an equipment refresh schedule, and generate and issue reports.

Give Asset Panda a try free for 14 days. For more details, visit


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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