What is Fixed Asset Tracking?

By February 10, 2015Asset Tracking

Fixed assets are any permanent objects your business uses year round. Spreadsheets and ledgers have now been eliminated with revolutionary technology to simplify tracking assets.

Did you know that 30% of all organizations do not know what they own, where their assets are located or who is using them? Start saving time and money by knowing exactly where your assets are at all times. Evaluating factors that influence the actual value of assets can take time. With a tracking system like Asset Panda, it can be as easy as taking a picture or entering a code. Businesses that use a tracking system have 15% or less cost of ownership. Reduce duplicate purchases by verifying what items you have already purchased.

Natural disasters strike almost 30% of businesses. When a natural disaster occurs, it’s hard to make a fast recovering when assets cannot be provided for insurance companies. 1 out of 5 businesses will never reopen after disaster strike. Using a tracking system will ensure that you have the documents needed to get the funds to recover your business.

Another disaster that can blindside companies’ is employee theft. 79% of employees will steal from their employers at least once. Theft thrives where employees know there is a lack of tracking items such as office supplies, equipment, merchandise, and intellectual property. 1/3 of all bankruptcies come from employee theft.

Start improving your companies budget with asset tracking. According to a research study, one company saved $100,000 in maintenance fees by dropping items they weren’t using. Rather than guessing about upgrades or replacements, tracking your assets helps to anticipate cost and timing of replacing or upgrading items.

Eliminate ghost assets. Ghost assets are items that are lost, stolen or unusable and still remain listed as an active fixed asset. Remove ghost assets from your books so you are not charged for them. 65% of fixed asset data is incomplete, inaccurate, or altogether missing.

Try Asset Panda today with our 14-day free trial. It’s never too late to save time and money!

 

 

 

 

 

 

 

Start your FREE Guided Tour today!

Sign up for your FREE Guided Tour