Say ‘Bye Bye’ to the Asset Spreadsheet

By January 23, 2018Asset Tracking, Blog, Use Case

Say ‘Bye Bye’ to the Asset Spreadsheet

Think about the last time you used a spreadsheet. How many minutes (or in some cases hours) did it take to manually type in your data? Did you have to create complicated formulas to tie each cell together? Was it a shared spreadsheet? Can you 100% rely on the other parties that have access to it to NOT make an error or accidentally delete valuable data? An asset spreadsheet used to be the way to track assets. That is not the case anymore.

Spreadsheets are still widely used and incredibly useful … when they are used for a task they are designed to perform. If you are recording statistical data, then by all means, use that spreadsheet! But with all the different software platforms specifically designed to help companies track their vital assets or inventory, spreadsheets do not meet that challenge. In fact, if they are used beyond the limit of their capabilities, they can be detrimental to many facets of a business.

One of the most common reasons people use an asset spreadsheet is because they are easy to use. Enter your data and you’re done. But in today’s competitive business environment where budgets and limited spending dictate daily operations, knowing as much detail about your assets is key. An asset spreadsheet can only provide so much data. Users can’t upload photos or video to a spreadsheet. Users can’t create alerts about an asset that might be due for maintenance or an upgrade. Users can’t attach leasing information or manuals that others can access when needed.

Let’s talk about the time aspect involved with using an asset spreadsheet. They are very time-consuming! Consider the amount of time it would take an employee to key in every single letter/number for every asset that is used in an organization. Every time an asset is used or checked in/checked out, data has to be entered. Employees are on a tight time frame to get their work done. Do you think they have the time to sit down on their computer and type in data every time they need to use a piece of equipment? Especially if they are rushing to an appointment — chances are they grab the tool they need and are out the door. No record of who took the tool, where it is, when it is coming back or the condition it was in when it left. That’s where today’s asset tracking and management platforms are so much more useful!

Employees need instant access to relevant data 24/7. In some instances, such as in hospitals or with disaster recovery, lives depend on assets being readily available and in working condition. There must be a reliable way to record and upload data that can be viewed anytime, from anywhere – error-free. And that is one of the biggest issues with an asset spreadsheet … the errors. It’s incredibly easy to miss a keystroke or transpose a number. Sometimes the “delete” key is accidentally pushed and not realized until it’s too late. Or an employee makes a duplicate copy of a spreadsheet and continues to use it, not realizing that another version is floating out there among other employees. Now there are multiple versions with different data and no one knows which is most up to date.

An asset spreadsheet doesn’t allow you to examine the entire lifecycle of an asset, from its initial acquisition to its periodic maintenance, movement inside and/or outside your business, to its retirement from use. There simply is no more room for guesswork in business, and that’s where Asset Panda comes in as a permanent replacement for the outdated asset spreadsheet.

Making the transition from an asset spreadsheet to a cloud-based software and Mobile App asset tracking system such as Asset Panda saves both time and money. In the palm of your hand, you can pull up the exact location and condition of any asset, along with its maintenance history, insurance and lease/purchase information, inflation and depreciation figures, check-in/check-out status and so much more. Our goal is to help you close the communication loop among all stakeholders – increasing accountability and accuracy throughout your entire organization.

Working the way you do, on devices your team is already using, Asset Panda has created a completely customizable tool that enables clients to select the features meaningful to their specific business use. Users have full control over how their data is displayed, from the custom dashboard, fields, reports and exports to unlimited custom actions, alerts and notifications, and security settings.

It’s time to hit “delete” on the asset spreadsheet and make the transition to Asset Panda. Visit www.assetpanda.com for a free 14-day trial and check out the video below to see how a church makes use of Asset Panda’s asset tracking and management platform to make their workload infinitely easier!

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