Three Benefits of Equipment Inventory Software

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The equipment a company uses is the backbone of the entire organization. And without access to these vital tools, a company cannot run. Often, these are also some of the company's most expensive assets. Equipment inventory software ensures that employees are always aware of three important things. They know:

  1. Where their equipment is
  2. Who has which piece of equipment
  3. The maintenance/repair history of each piece of equipment

Once you have these three critical pieces of data in your possession, then you can throw that costly guesswork out the window and get your company on the path to success!

The Importance of Equipment Inventory Management

We work in a very mobile society these days. Employees are constantly on the go. From in-house meetings to trade shows across the globe. And often take equipment with them, such as laptops, A/V equipment, mobile phones, and tablets. For some businesses, their equipment is what keeps them in business. Think of construction companies with their large tractors or backhoes. Or bands out on tour. They have all their music, lighting, and sound equipment that has to be ready the moment they hit the stage. With so many people relying on others for their products, services, etc., equipment inventory software has a significant job.

When you don’t know what you have and the condition it is in, the chances are that you are making uneducated guesses and probably spending wasteful dollars on replacing items. Equipment inventory software allows companies to do so many tasks that were once mundane and time-consuming. You can track:

  • check-in/check-out status of the equipment
  • equipment make and model
  • insurance details
  • leasing information
  • software updates
  • maintenance and repair records
  • photos/video of the equipment and its condition

Data Details

To make the most informed decisions about your company’s equipment as a whole, looking at an asset's lifecycle over time can tell you a lot about it. Equipment inventory software can provide data such as how often each piece of equipment gets used and for what type of job, and how frequently it has to go in for repair. Knowing this data helps companies make decisions regarding budgets and whether the equipment is useful or just a drain on the company's finances.

Time Factor

Another vital benefit of equipment inventory software is the time factor. When an employee needs to use a piece of equipment, the chances are that they don’t have the time to figure out where it is, who has it, or when it’s coming back. Instant access to this exact data eliminates that useless time and helps your employees stay on task by knowing where to get the equipment they need when they need it.

Safety Matters

Let’s not forget safety. Keeping equipment in good working order is always important. Employee safety and well-being count on that. By updating each piece of equipment in use, from safety inspections to testing or upgrades, employees (and management) can breathe a little easier knowing that equipment is safe to use and up to all necessary standards. Consistent performance of routine maintenance prevents minor issues from becoming major and saves thousands of dollars in repairs and/or replacements.

Asset Panda's Equipment Inventory System

Asset Panda has an equipment inventory software platform that’s the simplest tool you’ll find on the market yet the most versatile and cost-effective. Based on free mobile iOS and Android apps that sync with the cloud, Asset Panda requires nothing but the smartphones and tablets your employees already carry. Because it’s cloud-based, Asset Panda delivers real-time data on which you can depend, day or night. Add an unlimited number of users to your account at no additional charge, and take your pick of the features most relevant to your business.

Every client is a premium client, so you receive full access to our full features list. This incredibly user-friendly platform is totally customizable, from the custom dashboard to the fields, notifications, alerts, and role- and location-based security settings.

With Asset Panda, you won’t find a more powerful or cost-effective equipment inventory software on the market. Try our equipment inventory software for 14 days for free (no credit card required)!

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Our FREE demo will show how we can transform your asset management system

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