The Ultimate Tool for Tracking Business Assets and Inventory

By April 6, 2017Asset Tracking, Blog

The Ultimate Tool for Tracking Business Assets and Inventory

When it comes to tracking business assets and inventory, employees have one of the most powerful (and cost-effective) tools right in the palm of their hands … their smartphone. Gone are the days of using hand-written ledgers, trying to decipher the handwriting of your peers. No more trying to access a shared database that anyone can edit and delete. Companies now have the ultimate tool for tracking combined with the latest software platforms to make the painful task of asset and inventory tracking a breeze!

Companies are always looking for ways to cut costs while keeping up with the latest in technology and ways to help employees do their jobs faster and smarter. Assets and inventory are constantly on the go. Employees need a way to find out where asset are, who has them, their check in/check out status and even a complete maintenance history. Businesses depend on their assets to run smoothly, and not having the knowledge of this basic data on an asset can put a dent in productivity.

In years past, many companies used expensive handheld scanners to keep up with assets or track inventory as it entered/left a facility. While at the time they served their purpose, they are also expensive to repair and replace, can easily be lost themselves, and many companies only had a few on hand so employees needed to wait to locate one. These scanners weren’t capable of taking photos or video or recording notes about assets. They captured only a few basic details from a barcode about an asset. And typically only big companies had access to these scanners because of their high price tag. What about the small businesses or start-ups? They were using those problematic ledgers and excel spreadsheets.

If the assets you’re managing do not stay in one place, then the people who need to manage them tend to not be in one place either. Employees need to be ready to perform tasks related to asset management anytime/anywhere. Today, everything is mobile and with the advent of the cloud, everything is accessible all the time. People are highly trained on the usage of their mobile devices from their daily personal and professional activity on them. Managers are realizing that they would much rather use the device they know best to do the work they need in the field.

Smartphones are small and compact and go with employees everywhere – just like the assets they track. When an employee uses an asset or inventory in one facility or takes it out and across the country, they simply just has to scan a barcode (or QR code) on the item with their smartphone, and instantly they have recorded all of the critical data about that particular tool or piece of equipment. Now other employees have instant data on where an asset is and who has it, or if a particular inventory item is in stock and where it’s located. No more lost or misplaced items. And no more paying for duplicate items or unnecessary repairs.

Employees can take pictures of an asset to record its condition at the time of check out or if it is damaged or needs repairs, it can be noted instantly. Capturing images on a smartphone and tagging it to go with assets recorded in tracking software is especially helpful for audits or for insurance purposes when the more detail provided can speed up the process.

The true value is that no matter what you are tracking, thanks to smartphones and today’s asset tracking software, any authorized employee can have access to real-time data on any asset … anytime, and from anywhere.

Asset Panda gives clients access to the complete lifecycle of every one of their vital assets from the mobile devices they already carry. Asset Panda includes a mobile barcode scanner, so adding assets the moment they arrive is incredibly easy. The scanner helps you quickly locate a specific item by searching assets you’ve already logged into Asset Pandaso you can access information from anywhere without additional hardware. At any time day or night, users are able to access such details as an asset’s check-in/check-out status; its condition and who has it, where it’s located, maintenance history, purchase/lease information and insurance policy.

If you’re looking for the best way for tracking business assets and inventory, look no further. Asset Panda is your platform for working smarter. Take a free 14-day trial run of Asset Panda and see the results for yourself. Visit assetpanda.com for more information.

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