Profitability and good inventory management are connected. Good inventory management boils down to accountability. Using a robust asset tracking software, you need to account for what’s coming into and out of your inventory. A study by the Gartner Group has shown that 70% of all businesses have ineffective inventory management systems in place, to the extent that the difference between their actual and projected inventory can be as large as 30%!
For the majority of businesses, inventory is a major asset, but if inventory is mismanaged it can create endless problems such as inconsistent high or low stock levels, miscommunication between warehouses and delays in fulfillment. It’s important to protect your business from poor inventory management. Unfortunately, many wholesalers rely on employees to manually monitor and react to changes in inventory. This approach exposes a business to errors and increases the risk that can impact its reputation. In order to be effective, asset management solutions, therefore, need to not only manage assets but to find a way to make your assets part of a larger managerial ecosystem.
Many people cannot resist a good ghost story. However, while a good ghost story is harmless, ghost assets are not. The term ‘ghost asset’ refers to a fixed asset in a general ledger that cannot be accounted for because it is physically (or digitally) missing or otherwise rendered unusable. It has the appearance of ‘vanishing’ unless you have implemented an efficient asset tracking software. It would be fun, but we won’t be looking at the famous TV series, The Supernatural, The Walking Dead, or American Horror Story as examples for fixed assets. Although, one could argue that the equipment used in making these series like cameras, sets, props, etc, could certainly be tracked as fixed assets. Continue reading
Just because you are not running a $60 million company doesn’t qualify you as the business that doesn’t have many assets to track, protect, and value. The illusion is that asset management is for large corporations only. The question is what smaller businesses do? Note them down on some organizer? There are cloud computing companies that offer asset tracking software for small business, not just the enterprise firms.
As per a survey conducted by Statista, the forecasted size of the SMB cloud service market in the United States was expected to reach $25.2 billion in 2015. Efficient asset tracking software for SMBs help them make regular, everyday business operations faster and more organized. Small business inventory management solutions can enable companies to boost productivity and effectiveness of workplace without spending a fortune on software implementation and training sessions. Continue reading
Nonprofits and Asset Tracking Software
In 2015, around 1.5 million nonprofits were registered with the IRS, and this number has only increased in recent years. These organizations have their work cut out for them; they must establish themselves as legitimate, get the right people interested in their initiatives, and manage well-intentioned but inexperienced volunteers all at the same time. Nonprofits can also be extremely asset-intensive, trying to use all the tools and equipment they can get to ultimately lower overheads, streamline operations, and make volunteer effort count. As an example, 35% of all nonprofits registered with the IRS in 2013 identified $5.17 trillion in assets.
How does an organization juggling all the characteristic responsibilities and expectations of a nonprofit manage all its equipment? Below, we’ll look at three of the major problems faced by nonprofits, and how an asset tracking software can help overcome them.
2016 in Review – EZOfficeInventory, leading asset tracking software
Asset Management has never been easier, with us working hard throughout the year to bring you innovative new features. We released a number of updates to meet your requests and vastly improved the usability of EZOfficeInventory, the complete asset tracking software!
Here’s an infographic to show what we have accomplished together in 2016: Continue reading
Well, folks, 2015 was epic! Asset tracking has never been easier, with us working hard throughout the year to bring you innovative new features. We released a number of updates to meet your requests and vastly improved the usability of EZOfficeInventory, the complete asset tracking solution! Here’s an infographic to show what we accomplished together in 2015: Continue reading
Here are some of the fresh enhancements that we launched in our Feature Release ‘Molten Lava Cake’. As always, they are aimed at setting an even smoother ride for your business ahead. Continue reading
Cloud based software has taken the business world by storm in recent years. Cloud computing is a general term for anything that involves delivering hosted services over the Internet. It has the potential to dramatically improve how business is done and has thus gained currency amongst small and medium sized businesses (SMB). In the US, interest in cloud computing continues to increase and the number of companies using cloud technology is expected to more than double in the next 6 years¹. Continue reading
You can use your own URL to access EZOfficeInventory e.g. equipment.SFconstructions.com (or assets.SFconstructions.com). Similarly, your staff users can use your URL to check out items online. This blog details how EZOfficeInventory users can create a custom URL to access the asset tracking software. Continue reading
Make it simple to manage your valuable assets and track them efficiently with an asset tracking software. Here is a getting started guide for you: