Here’s How Asset Tracking Software Helps Universities Track Loaner Equipment

loaner equipment asset tracking softwareAsset Tracking Software for Loaner Equipment Management

Asset tracking software is an absolute essential for the education sector, particularly, universities where there are items continuously on the move and spread over a massive area. It happens to be an increasingly critical part of the day-to-day activity. Universities, in particular, have a lot of departments and buildings where countless assets are used. There are tech tools, books, lab equipment, furniture, loaner equipment and other educational tools. If you don’t track your loaner equipment properly, you might be at risk of paying additional costs in maintenance, support, and insurance. You need to remain aware of who has it, what condition it is in and what type of agreement it is on. You can easily run a report to find out all the information you need using an asset tracking software.

Among other assets, IT assets tend to be a costly investment for universities particularly when replacing them becomes a routine – as items are lost or stolen on a regular basis. That becomes a real burden on the already tight budget a university go through. Universities rent out equipment from vendors to save their costs as technology quickly goes outdated and students rent out equipment from universities all the time. We all know students come and go. They really don’t take loaner equipment they borrow very seriously. You need to keep an eye on all your assets and keep track of them as it is essential for your university’s budget. Replacing a $250 cable may not be much for a big company but for the universities already running on tight budgets, it is a considerable amount.

For smoother operations, without any nasty buildup of extra expenditures, asset tracking solution is a must. We have gathered ways in which asset tracking solution helps universities track loaner equipment and other educational assets.

1. Discourage Theft & Misuse of Assets

Whether they are tech assets like SmartBoards and expensive laptops or simply furniture items like desks and chairs, a university needs to track its assets and loaner equipment efficiently as they are never immune to theft and misuse. Asset tracking tool with scanning solution can be used in everyday classroom activities for security purpose. For instance, you are having a classroom activity that needs each student to have their own tablets or laptops. In that case, you can assign tablets or laptops to a particular classroom using a scanner. As soon as the class is over, use the scanner to make sure that all the borrowed devices (loaner equipment) are returned to the storage unit for educational equipment. The check-in/checkout feature lets you efficiently track borrowed items that students might claim to have returned. This lets universities hold students and faculties accountable for the equipment they use.educational asset tracking software for expensive equipment

Whether it is a projector, Smartboard or laptop, you can track all your valuable assets using an asset tracking solution.

When you properly implement and maintain an asset tracking system, you automatically gain more visibility into your loaner assets and other assets as well. It is only natural when citizens see a police patrol moving about, even men with evil instincts tend to refrain from doing anything wrong. Similarly, when university staff and students know that costly items and loaner equipment are being tracked, they refrain from misusing and stealing it.

Read More: Here’s how asset tracking system improves education

2. Maximize potential and useful life of each asset

Technology keeps bringing in new innovations every day which is why its role in education sector keeps evolving. However, with limited funds and resources, investing in new assets and software can feel quite risky. But don’t you want to give your asset an optimized life by properly monitoring them? No laptop or computer can live forever, but tracking these assets can at least help you utilize them to their full potential and extend their lives.asset tracking tool optimizes educational equipment

Extend the life of your educational assets by monitoring them closely.

Asset tracking software does not only locate the existing assets in your university but it also helps you review your asset details like their current status. It goes a long way in helping you remain informed about the condition of your loaner equipment and other assets. By maintaining proper records, you will get your alerts when a computer needs to be updated or serviced. You can even set due dates for borrowed items and scheduled maintenance. The routine maintenance can increase the life of your assets giving you a higher return on your investment.

Keeping a close eye on your assets lets you know the right time to write them off. Asset theft is not an uncommon thing in the education sector. Tracking those assets help you identify and secure the assets you actually have – along with exposing the ones that have gone missing or stolen. Imagine a situation where 40 digital tablets were stolen but this instance went unnoticed by the responsible authorities. The devices kept appearing on the accounting ledger of the university. After 2 years, the theft was actually spotted. Now the university overpaid like the taxes for the devices that didn’t even exist anymore. This happens in universities all the time. Not being able to identify ghost assets can result in unwanted expenses.

Read more: School inventory management software makes teachers’ lives easier

3. Conduct asset audits with centralized database

University is a huge place with thousands of assets that need to be monitored. Loaner equipment and other assets are kept somewhere when not in use. It could be a storage room, classroom or even a combination of locations. Having a centralized database that is accessed by all the users throughout the university guarantees that each update noted is enforcing accountability. The staff can track their valuable assets at all times with a robust asset tracking solution.

You can now put an end to the missing assets using your smartphone. The best thing about using smartphones to track assets is that you don’t have to buy expensive scanners. Your smartphone can do the job for you. It is of particular importance when a university has to conduct audits at multiple campuses. It can easily record collection and delivery location of assets along with informing you about its condition. This increasingly reduces the time taken to search for assets in different departments and sections of the university.

The management can easily conduct accurate and low-cost physical audits on loaner equipment and other assets using barcodes. You can record everything on the central database from office furniture to IT equipment. With a single audit, you can cover numerous items and locations with the ability to prevent discrepancies throughout the university and quickly create a transfer event. Audits become really efficient with a mobile app as the data is directly fed into the centralized database. This ensures less time is consumed and efficient use of assets.

Read more: Use asset tracking tool to add value to your audits

Want to learn more about our asset tracking software?

EZOfficeInventory is a leading asset tracking software used by the education sector around the world to efficiently track their loaner equipment and keep operations lean.best asset tracking software for loaner equipment  For more assistance, drop us an email at support@ezofficeinventory.com.

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