May 30, 2018
Software for Asset Inventory: A Smart Investment for Small Business
If you’re a small business, you may be questioning whether it’s worth it to make the investment in software for asset inventory tracking and management. Consider this: Software for asset inventory tracking and management saves you money, time and headaches. As you know well, every dollar counts when you’re a small business. And, since you’re probably running a lean and mean staff, the ability to save time is certainly something you want to do at every opportunity. And who needs headaches and frustration? Entrepreneurs deal with enough of that on a daily basis, right?
Here’s how software for asset inventory tracking and management can make your life as a small business owner considerably easier:
The software helps you stay on track of the periodic servicing and maintenance your equipment requires. At first, you may have every intention of tracking your equipment maintenance schedule. And then, reality happens. You’re juggling a lot of details, and it’s very easy to lose track of time. Eventually, your equipment – which often represents one of the largest investments you’ve made in your business, if not the largest investment – can break down prematurely. Small repairs become major overhauls. You might even need to replace equipment prematurely. And in the meantime, your productivity is affected because your equipment is down.
Also, as a small business owner, you’re responsible for tracking the value of your fixed assets. Some business owners will resort to guesswork here, which could cost them later if they make mistakes – and they often do. For accounting and compliance purposes, you need to be able to provide accurate depreciation figures.
Software for asset inventory tracking and management also pinpoint the exact location of an item. Now, this may not seem like a significant concern if you’re a small business owner and your fixed assets don’t typically leave your premises. Sooner or later, however, they will; take, for example, your IT assets, like company-issued laptops, tablets and mobile phones. Theft and loss of these assets is common. When loss or theft is coupled with poor-recordkeeping, companies often hours of productivity trying to hunt down lost or stolen assets. In fact, in the worst-case scenario, some companies continue to pay insurance for “ghost assets” they don’t have anymore. If you have plans for growth, better to have an eye on a scalable solution that will help you track your assets now and well into the future.
A good asset and inventory tracking and management software product will also help you determine the ideal quantity of inventory. For obvious reasons, you don’t want to run out and turn customers away; nor do you want to carry too much and have it languish on your shelves while it loses value. Inventory tracking allows you to determine optimal quantities, anticipate seasonal variations, calculate values and make adjustments across multiple locations.
Another great advantage associated with asset and inventory tracking software is accountability. You’ll want to be looking for a solution that shows you such detail as check-in/check-out status, an electronic signature, and the exact location of an item – including its GPS coordinates. That kind of information promotes greater accountability throughout your organization.
With Asset Panda, you get all of these features – and that’s just the beginning. Our powerful, yet simple to use software for asset inventory tracking and management is powered by free mobile apps that sync with the cloud. You won’t need any additional hardware to use it – not even a handheld scanner; the app includes a mobile barcode scanner. All you and your employees need to access the complete lifecycle of your assets and inventory are the smartphones and tablets you already carry. Add as many users as you’d like. Track and manage your assets and inventory any way you want by selecting from Asset Panda’s robust and completely customizable features list. This intuitive app couldn’t be any easier or more intuitive.
Asset Panda is frequently cited among the world’s most innovative companies by websites like this one. To learn more about what Asset Panda can do for your small business, or to try it free for 14 days, go to assetpanda.com