Understanding Why You Should Track Inventory Software

When the main component of your business involves inventory, finding an efficient and easy way to keep up with it should be a top priority. There are a variety of different inventory tracking software offerings available. And because no two companies are alike when it comes to their tracking needs for items such as assets and the software accompanied with it, determining a good fit to track inventory software takes special insight.

 

"Barcode scanners are able to capture critical and up-to-date data, on an asset or item in inventory for its entire lifecycle."

 

Benefits of Barcode Scanning

One of the most useful ways to track inventory software can be done with one simple click using a barcode scanner. Gone are the days of utilizing expensive handheld scanners that were passed among employees and transferred between facilities – sometimes never to be found again. Today’s barcode scanners are built-in to asset and inventory tracking platforms and are useable on tools that employees already carry — smartphones and tablets. The data recorded by barcode scanners far exceeds what used to be captured on handwritten ledgers and electronic spreadsheets. And the amount of time that it saves employees is quickly being recognized as a major benefit.

Barcode scanners are able to capture critical and up-to-date data, on an asset or item in inventory for its entire lifecycle. Employees now have real-time data to track inventory software, fixed assets, IT equipment – anything they need to track – from where the item is, who has it, check in/check out status, and a complete maintenance history.

Getting an “A” for Accuracy

When it comes to tracking, companies need to bring all of their stakeholders into the communication loop, and having accurate and efficient data is key. When a company needs to track inventory software, they need to know where the software is in real-time. Employees have no room for guesswork in our fast-paced, on-the-go business environment.

The data that is recorded for any type of asset and/or inventory has become more important as companies look over their books and evaluate how much they are spending on tools and equipment as well as employee work hours.

Data can also determine what items are selling well, or maybe not so well. It also identifies trends as to when items are more popular and with what demographic group. Maintaining accurate records can be very challenging when inventory is constantly on the move. And that includes the software needed to track these items. Ensuring that the software is accurately upgraded at all times on all pieces of equipment should be a priority. And that’s where a strong tracking software platform really excels.

Key features for tracking inventory software

So now that you realize you might actually need a better way to track your assets and inventory, including how you track inventory software, here are some key features, besides the built-in barcode scanner, to look for:

Enables multiple users

When you have several employees accessing and updating inventory information, you need to have a software platform that allows for multiple accounts to connect and edit the inventory database from one central location.

Stores data in the cloud

By storing your data in the cloud, employees are able to update and access real-time inventory data anytime from anywhere, 24/7. It also eliminates the problem of duplicate spreadsheets and inaccurate data.

Maintenance scheduling is a breeze

Just like many assets need maintenance from time to time, inventory software also needs to be upgraded. By being able to track inventory software, you can upload data about when the last upgrade took place, on which machines and for which users. This ensures all equipment is working with the latest software edition and all are working together seamlessly.

Allows for multiple configurations

Software that allows for multiple configurations makes it easy for companies to set up their database in a way that benefits their company. No two companies work the same, and your software should work in the way you need it to work. Find a platform that is flexible and customizable with little training time.

 Asset Panda makes it easy for your company to keep an accurate track of all of your products, assets, equipment, and tools to keep your business running. Our cloud-based database allows your allocated team to log in at any time, from any location to access records and update entries. You won’t have to worry about spending hours each week figuring out where the items in your inventory are located because you’ll be able to look up any information you need from our mobile app.

Whether you need to track inventory software or keep up with company vehicles, our simple to use interface works how you need it to work. If you don’t see a feature you need, there are several modules that you can add to improve functionality. Visit www.assetpanda.com to learn more and start a free 14-day trial today.