If you haven’t given much thought yet to tracking software at your organization, you almost certainly will when you realize the time and money you stand to gain with an efficient, easy to use solution.
Tracking software, unfortunately, is one of those necessities not often considered by a company until they really need it – for example, in the event of equipment loss, theft or breakdown. The right tracking software can manage not only the location of your fixed assets but also the condition. Your equipment and tools require routine maintenance, updates, and other servicing. It’s very easy to overlook maintenance schedules, which can leave your equipment and tools vulnerable to premature breakdown or even replacement. When equipment breaks down, your employees’ productivity and morale are impacted. This can create a domino effect within your organization, delaying the progress of multiple projects.
From a theft and loss standpoint, your IT assets are typical targets. If you have company-issued phones, tablets, and laptops, your employees are taking those items out of their respective offices all the time, going to conference rooms on and off-site. On business trips, those same assets sit on planes, in taxis, hotels and other venues. The opportunity for theft and loss is tremendous. This is serious not only due to the loss of the physical asset and the cost associated with replacing it. All too often, those IT assets contain sensitive data that, if not properly secured, can put your company and even your clients at risk of identity theft or merely a PR crisis, if it becomes known that you’ve had a data breach.
A related issue faced by companies and organizations of every size is the increasing popularity of “Bring Your Own Device,” or “BYOD,” policies.
In an article entitled “It’s 10 PM. Do You Know Where Your Laptops Are?,” writer Peter Jacobson describes the policy and the associated risks: “BYOD allows employees to use personal mobile devices to perform certain work-related tasks in a convenient manner. According to industry reports, approximately 70 percent of businesses utilize BYOD.” In the United States, he adds, a laptop is stolen every minute, more than 4 percent of company-issued smartphones are lost or stolen each year, and on average, 80 percent of the cost of a lost laptop is due to a data breach.
Approximately 50 percent of employees, Jacobson says, use pre-installed security measures, such as passwords, less than 20 percent of employees use additional security methods, such as malware protection. Meanwhile, “the threats against mobile devices are increasing and getting more sophisticated – mandating the requirement for additional security measures.” Jacobson also mentions that the costs of such theft reach beyond those measured in dollars and cents. Affected companies lose hours of productivity associated with the necessary downtime, technical support, management time and legal fees that follow mobile device theft.
The right tracking software can effectively eliminate these serious risks to your company’s financial health and reputation. When choosing a tracking software for your company, your best bet is to find a solution that’s not only powerful, but also flexible, customizable and easy to use. The more stakeholders you can bring into the communication loop, the more successful your fixed asset tracking efforts will be. Asset Panda offers the most intuitive tracking software on the market. All you need to track and manage the entire lifecycle of your vital assets is the smartphone or tablet you already carry. Download Asset Panda’s free mobile app, and customize its features to meet your specific needs.
This testimonial shares how Asset Panda helped a school in the United Kingdom better track and manage its IT assets:
Asset Panda is routinely named among the best asset tracking and management software products on the market on sites like this one. Save time and money and protect your most important asset: your company’s reputation. To begin your free 14-day trial with Asset Panda, go to assetpanda.com.