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Asset tracking is a process businesses use to monitor and manage their fixed assets. This can include anything from office furnishings and computers to vehicles and heavy machinery. Asset tracking software helps businesses keep tabs on their valuable investments, streamline their processes, and improve their bottom line.
While the benefits of asset tracking are clear, the process can be time-consuming and difficult, especially for businesses with large asset libraries. That's where asset tracking software comes in. Asset tracking software automates many of the repetitive tasks associated with keeping up with your assets, such as logging new purchases, scheduling maintenance, and generating depreciation reports. As a result, businesses that use asset tracking software enjoy greater efficiency and peace of mind. If you're looking for a way to streamline your asset management process: Lose the paperwork, asset tracking software is the answer.
Why Excel and Paperwork Need to be Replaced
Asset tracking is a critical part of any business, yet many companies rely on manual methods such as Excel spreadsheets or even physical paperwork. This can lead to several problems, including inaccurate data, difficulty in keeping reports up-to-date, and lost or stolen assets. Asset tracking software can help to solve these problems by providing a central database for tracking assets, automatically updating reports, and generating alerts when assets are moved or missing. As businesses grow, it becomes increasingly important to invest in asset tracking solutions that can keep pace with the demands of a larger operation.
Here are some of the reasons why the old paperwork or spreadsheet method is an extremely limited means of managing your current assets and could stunt your growth potential.
Your Reports Aren't Updating Without Input
Asset tracking is an essential part of any business, but manually updating reports can be time-consuming and error-prone. Asset tracking software can help to automate the process, ensuring that your reports are always accurate and up-to-date. With fixed asset tracking, you can easily monitor all your assets in one place, and the software can automatically generate reports regularly. This can save you hours of work every month, and it will give you peace of mind knowing that your data is always reliable.
No All-Encompassing History Reports
It can be difficult to keep track of everything without any updated history. Paperwork and spreadsheets can be a current-state view of your assets, but they don't provide any historical context. Asset tracking software can help you keep track of your assets and their history, so you can see who had something a week ago or how often it's been repaired. With that information, you can make informed decisions about what to do with your assets. Asset tracking software can also help you keep track of your fixed assets, so you can know what you have and where it is at all times.
They Don't Allow Users to Attach Files
Asset tracking data is only as useful as it is actionable. In other words, if you're not able to attach related files that provide context and insights about your assets, the data itself won't be very helpful. For example, consider a laptop. If something goes wrong with this equipment and requires repairs or adjustments, having detailed notes will help the IT department technicians. Employees who use your equipment might also want to attach user or software manuals to reduce time searching for them on the internet.
By contrast, if all you have is a list of laptops with no supporting documentation, it will be much harder to take meaningful action on that data. Asset tracking solutions that don't allow you to attach related files are therefore much less useful than they could be.
They Don't Provide Managers Ready-to-Go Solutions
With an Excel spreadsheet, you either have to appoint one person to act as an administrator and handle all the necessary changes or allow open access to the document. Due to these strict limitations for management, there's no easy way to limit access based on who the user is. If someone accidentally overwrites the wrong dataset in the sheet, you can say goodbye to your data accuracy.
With asset tracking software, you can easily assign users and permissions, ensuring that only authorized personnel have access to your data. This is especially impactful to businesses with multiple levels of reporting. There are also the possibilities that your company is using other technologies or software that would be beneficial for integrations to be set up. Allowing the managers to sync their live data sets to other business operations for efficiency. You can also set up automatic alerts and notifications, so you'll always be aware of any changes or updates to your assets.
Gain New Process Efficiency With Asset Tracking Software
As previously stated, asset tracking is the process of keeping track of and managing your organization's physical assets, such as machinery, equipment, tools, and vehicles. Asset tracking software is a tool that can help you to automate and streamline this process. By tracking your assets, you can ensure that they are properly maintained and utilized and that they are not being misused or lost. With a well-understood history of all your revenue-generating assets, your business can prioritize future purchases or the replacement of dated assets. In the name of record keeping, RedBeam Software can be a major contributor to easy report building, updating, and even record keeping.
Asset tracking software provides businesses with a way to track their fixed assets. By knowing exactly where their assets are located and how they are being used, businesses can more easily identify bottlenecks and inefficiencies in their processes. As a result, asset tracking software can help businesses to improve their overall operations. In addition, asset tracking can also help businesses to comply with regulatory requirements, such as those related to safety or environmental protection. Thus, asset tracking provides a variety of benefits for businesses of all sizes.
Our easy-to-use software makes it simple to know what you have, where they are, and how they impact your bottom line. Whether you're a small business or a Fortune 500 company, schedule a demo with RedBeam to get control of your assets.
