Cover Your Assets: Tracking Software that Really Keeps Track
Keeping track of company assets is — or should be — a central concern for any business, no matter how big or small. “Assets” meaning “those permanent objects that you use internally, including tools, computers, software, office equipment, vehicles, and any other non-consumable item vital to your workflow.” Employees generally employ business assets regularly as part of their jobs, but the assets belong to the company and are returned after use.
While smaller businesses are more profoundly affected by the loss of an asset, larger businesses have many more assets to keep track of — meaning that both have need of asset tracking software that can tell them where their assets are at any given time. Asset tracking software is now standard issue in larger businesses, and smaller businesses are starting to catch on to the usefulness of having a database of all of their “important stuff”.
What Does Asset Tracking Software Do?
It allows a company to see at a glance what assets it owns, where each asset is, who is using it currently, when (if relevant) it was checked out and when it’s expected to be checked back in, and — and this is big — when each asset was repaired and at what cost. All asset tracking uses a barcode system to demarcate and define each asset, providing reports such as Assets by Category, Past-Due Assets, Repair History, and so forth.
All of this information is collected and thereafter accessible by portal from any Internet-connected computer or mobile device. This allows a properly-authorized individual to make changes to an asset’s status from anywhere, in turn ensuring that an asset’s status is always up-to-date and accurate.
The end result is that a business can better:
- Allocate assets, reducing the need to purchase new equipment.
- Assess depreciation, making for easier tax computation.
- Determine by repair schedule when an asset is costing more than it’s value and needs to be replaced rather than repaired again.
- Track asset losses and determine where the assets are going.
And of course there are dozens of other benefits to using powerful asset tracking software as well. Don’t just read about it though — sit back and think about how your business could benefit, and then get yourself some asset tracking software today!