Understanding the Role Tracking Equipment Software Plays in Business Success

In thinking of what makes your company run, have you ever asked the question: “Do I know what assets we have, where they are at all times, and if they’ve recently been in for maintenance?” Most likely you have not. Equipment that is used every day is also most often misplaced or unaccounted for, and not to mention very expensive to replace. In order to keep up with all these valuable items that are paramount for a company’s success, having a strong tracking equipment software program is one of the best investments a business can make.

Tracking equipment, whether employee-assigned or for specific jobs is a necessity in today’s growing mobile workplace. Equipment is constantly moving from place to place, and the cost of replacing items that are lost, stolen, or not properly maintained takes a big chunk out of the bottom line. Employing equipment tracking software capable of streamlining all these tracking processes — whether at a warehouse, job site, a multi-campus facility or even at a single office is fundamental to ensure accurate data gathering in one central location.

By utilizing tracking equipment software, employees have the fundamental information about an asset that can be viewed anytime and anywhere. They now know facts about each and every asset entered into a tracking management system including:

• what equipment you own
• where your equipment is
• who has your equipment
• what condition your equipment is in
• the complete maintenance history of your equipment

Companies and organizations of all sizes are faced with the challenge of how to maximize the lifespan of every one of their assets – from computers, monitors, A/V equipment, software and mobile devices to chairs, desks, phones, vehicles and machinery, to name only a few. Every asset used contributes to the bottom line in some way and making the best use out of each piece is important. Having an easy-to-understand method of keeping up with each asset can make a tremendous impact in both time and money.

Besides keeping up with the assets and their physical location, there are also important details about purchase price, depreciation rates, repair costs, and replacement costs that the accounting team needs to know when it comes to budgeting or an audit. This data can easily be captured with tracking equipment software.

One of the greatest benefits of today’s tracking software is the ability to create your milestones around equipment maintenance repairs schedules using custom date fields to set up notifications days in advance. You can see the full repair history of an asset with details on where the event was performed and who performed it, as well as the overall cost.

Still not convinced that investing in tracking equipment software is the right choice? Consider these points:

• Optimization of worker efficiency. Locating lost/misplaced assets takes time -- time that employees could be spending on their actual jobs instead of searching for an item. With the right system, your employees can pull up each asset on the database and locate it in no time.
• Minimizes equipment downtime. When equipment stops working or needs to go in for unplanned repairs, it can throw off your workflow. Tracking the repair history and scheduling assets for preventative maintenance, no longer compromises work time.
• Accountability. When employees themselves are part of the record-keeping process, you’re more likely to have correct and current information. Employees have a greater sense of responsibility to get the information entered correctly. Workers in the field have more direct contact with assets daily and are the first to know when a piece of equipment starts acting up and can get it taken care of in a timely manner.
• Save money. Prevent costly emergency repairs by tracking equipment maintenance. When you track repairs and maintenance for your vital equipment, you can predict repairs and get them done before your equipment breaks. Tracking data gives employees information to make financial decisions about acquiring new assets, retiring problem assets, and each asset’s value over its lifetime.

Asset Panda makes tracking valuable equipment as simple as can be. With our mobile app, employees can update the database wherever they work, anytime. Companies can rely on regularly updated information about their assets, and are sure they’re being kept in optimal condition, or can quickly address potential problems as they happen.

Not only will you have anytime anywhere access to detailed data, Asset Panda’s intuitive interface is a breeze to use. There’s no need to purchase additional hardware, software or the associated licenses. With Asset Panda, the entire lifecycle of every one of your vital assets lives in the palm of your hand.

Want to see how Asset Panda’s tracking equipment software can help you keep track of your assets? Visit assetpanda.com for a free 14-day trial.