Place Asset Reservations with Asset Panda

Asset reservations are a critical piece of asset management. It’s not enough for large organizations to know how many fixed assets they have, what condition those items are in and where they’re located. Users (employees) need access to that information as well. That may be even more important now given that many offices are still remote or migrating toward a hybrid structure. With employees likely to be more spread out than they’ve been in the past, companies should be implementing processes and procedures that encourage greater self-reliance.

An asset reservation system is powerful because it gives employees complete visibility into the check-in and check-out status of their company’s fixed assets and allows them to plan accordingly. From the company side, better transparency into their IT asset management and other fixed asset management practices can result in cost savings.

Why are asset reservations so important?

For department managers, having a formal and ongoing process for users to view and place asset reservations means they gain better visibility into the various projects executed by their respective teams. If a particular fixed asset is in high demand, the system administrator can make the decision as to which project will take priority.

Or, they may decide to purchase additional assets or equipment – and they can make that decision based on real-time facts, not guesswork, which ultimately may cut costs and save them money. IT departments may also obtain valuable insight into how their companies use technology - specifically, which assets are being used most often and how, and by which business units -- and schedule routine preventive maintenance based on that usage.

By delegating to designated users the task of approving or denying reservation requests, reservation systems also free administrators to focus on other priorities. With all asset reservation information in real-time, users can trust that employees won’t double-book an asset and create confusion, frustration and wasted time. An asset reservations database also may reveal whether any of the company’s employees are squandering their work hours on non-work-related activities. 

What to look for in an asset reservation system

It can be a challenge to determine the best way to implement an asset reservations tool at your organization. Thankfully, Asset Panda’s technology has made the process considerably easier, user-friendly and accurate. 

Full visibility into your assets and equipment

Asset Panda’s reservations management software utilizes a modern Gantt chart to remove any doubt about the availability of your company’s fixed assets and equipment. Identify usage patterns and decide the best way to distribute resources and reduce check-out traffic jams that slow down productivity. 

Security and control over your assets

One of the most beneficial features of the tool is role-based access, which ensures that the information viewed by users is appropriate and relevant to their respective job roles and functions. This ensures data security (and can make risk management responsibilities easier) and helps simplify onboarding. 

Additionally, the tool helps limit hold times. On occasion, employees who reserved a fixed asset may forget about their reservations. In typical circumstances, the item would appear to be in use on the company’s reservations page. Asset Panda, however, allows administrators to preset and limit hold times so reservations for fixed assets not checked out by a specified date are then canceled.

A single source of truth for reservation data

With Asset Panda, you effectively consolidate all of your asset data – including but not limited to reservations – in one easy-to-access location: the smartphone you already carry. It syncs with the cloud, so your asset data is always up to date and within reach no matter the time of day or night. 

Manage asset lifecycles

With the complete lifecycle of each of their fixed assets at their fingertips, administrators can track such vital details as asset straight-line depreciation. They can plan ahead and order new assets before they’re in a crunch, and conduct routine fixed asset audits and set up custom reminders to perform periodic maintenance on these items.

Looks and feels familiar

Asset Panda’s intuitive interface makes it easy to get acquainted with and use the tool with confidence. Everyone from larger organizations to smaller businesses can better manage the overall life cycle of these assets even if they’re not tech-savvy.

When it comes to IT asset management, an asset reservations system also can reduce or eliminate the occurrence of shadow IT, lead to better license management, license optimization and more successful partnerships with software vendors, reduce costs, and reduce security risks. Asset Panda can help your company establish a new and more effective set of business practices. It's one of the most powerful, yet flexible applications on the market today.

Learn more about Asset Panda's equipment reservation software

There’s no substitute for seeing for yourself how Asset Panda can save you and your employees time, eliminate guesswork and improve accuracy and efficiency of your business practices.

For an overview of Asset Panda’s asset reservations software, check out the benefits and features of an asset reservation solution like:

• Navigating features and tools within Asset Panda’s reservation system
• Filtering asset reservation information and checking availability
• Booking items and locations from the Gantt chart
• Reserving multiple assets during a specific time frame using Asset Panda’s Reservation Wizard
• Canceling or making changes to reservations

You’ll also want to check out this webinar entitled “The Admin’s Guide to Asset Panda’s Reservation System.” It not only provides a full walkthrough of the asset reservation tool, it presents configuration best practices, introduces viewers to features and shows them how to perform such functions as:

• Activating the reservation system in their Asset Panda account;
• Selecting and limiting which fixed assets can and cannot be reserved;
• Setting reservation hold times to ensure items are never left “in limbo”; and
• Assigning trusted users to approve or reject reservation requests.

Ready to get your asset management practices in order? Take the first step, and get a demo today! You'll get 14 days of free access to our platform (no card required).