The most important asset any business can ever have is time! If you’re organized and on top of all your deadlines, your business is going to run a lot more smoothly. Think of it this way; when you make the most out of the time available to you, you are actually making the most out of the investment you have made!
So what’s a task that takes up a lot of time for businesses? Every company spends countless hours tracking their assets by one method or the other. After all, their assets are a major part of their investment, which is why taking care of them is vital for operational efficiency. If only you could eliminate these countless hours spent tracking assets, you could actually hand your employees other revenue-generating tasks for the company, creating added value and maximizing profits.
An asset tracking software will do exactly this job. With all its automated features – from reports to audits – it is able to save businesses a great deal of time that they would otherwise have spent handling their assets manually. It is rare to come across companies that don’t use any form of modern technology in their business operations. The process can actually become overwhelming if you are using more than a few technologies, and newer solutions can easily fall through the cracks. Having a cloud-based asset management system can help track each and every asset, along with wringing out the most value from its lifecycle.
Let’s delve a little deeper into how you will be able to save time with equipment tracking software and utilize it to its fullest potential.
Automation with Barcodes
They say time is money and it cannot ring any truer for businesses. They often tend to go for a decentralized approach to tracking their shared assets like printers, vehicles, and laptops. It could be a sign-out sheet on a clipboard, or maybe even an honor system that would depend a lot on your employees’ reliability. These practices are not a great way to ensure that assets are always where they are supposed to be. They are not only prone to errors, but are also extremely time consuming. A great alternative is to use barcode tracking. This not only lowers your dependance on employee accountability, but also makes you process dozens of items in mere seconds!
You can use barcodes to keep tabs on where all your equipment is, at any time!
These barcodes can also be scanned using smartphones rather than just external barcode scanners, making them a cheaper option to boot. Scanning and printing barcodes is also cheaper compared to other methods and can serve your organization with a variety of functions. It helps organize your warehouse and storage layout, catch shipping errors and eliminate mispicks! All of this optimizes your workflow a great deal, saving you effort and a great deal of time.
‘On the Go’ Mobile Apps
Pen and paper is so last century! Your records have a high chance of being outdated even before you finish putting them down in writing. Cloud computing not only fosters collaboration and interaction between managers and employees, but also offers instantaneous updates.
To add to this, more and more people are working from their phones today. Businesses are so hooked to their phones that 96% of businesses use wireless technology while two-thirds of small businesses claim to be at a loss without mobile technology. The cool thing about cloud technology is that it extends to mobile devices. In case you’re traveling, you can update all your data on the go from a centralized database just using your mobile phone! It doesn’t matter whether you’re on-site, at an event, or even logged in from home – you can take actions on assets anywhere, at any time. This saves you the hassle of having to bulk-upload a huge stream of data when you’re at work, and therefore greatly streamlines the logging process.
Read more: Asset Tracking Software For Jobs On The Move
Leaner Operational Processes
Do you sometimes feel you have little control over your business operations? Things get lost all the time, employees claim they don’t have the tools needed to get their job down, and you’re always running low on important items! You can hold tight to the reigns of your business equipment with equipment tracking software. You will not only be able to locate these items, but also identify items that are used most often, and procure more accordingly.
Save money by streamlining procurement in favor of a ‘leaner’ system.
For instance, you might find out that there are two products that your employees usually check out together, but they’re located on different floors of your office building. You can now use this information to actually place the assets closer to each other in order to increase efficiency and save time. You can also predict the needs of your company and identify future trends without wasting precious resources to gather this information!
Read more: How Asset Management Helps You Survive Your First Five Years in Business
Improves Asset Life and Performance
None of your assets are going to live forever, but you can always extend their life. This will save you considerable time that would otherwise be spent looking for substitutes, ordering new items, or creating service tickets when an asset begins to fall apart all the time. To increase longevity, you would need information associated with the health of the asset, asset utilization, maintenance, procurement, depreciation and impairment. If you don’t track this decline properly, you will end up paying a lot of extra cash on taxes, maintenance, and insurance.
A robust asset tracking software lightens the load by letting you log all the required information from procurement to disposal – such as original cost, salvage value or depreciation methods. It then sends you alerts whenever maintenance is scheduled or when your asset is about to reach the end of its life. You don’t have to perform the time-consuming task of manually checking the condition of each and every machine to know its current status. In this way, an asset tracking system frees up all that time for your employees and makes your workflows simple, quick, and doubly effective!
Interested in learning more about our asset tracking software?
EZOfficeInventory is a leading asset management software used by businesses all over the world. Save both time and cost with smooth, productive and more efficient business operations!
For more assistance, drop us an email at support@ezo.io.
