Is keeping track of your assets getting more complicated every day? If your answer is yes then, you have landed on the right page. Because there is a simple & effective way to keep track & manage all of your assets without any problem.
The check-in check-out software allows you to maintain records in a systematic approach. It keeps all your asset records organized! With check-in check-out, you can keep asset history records as well.
Other than this, there are several other check-in check-out software benefits as well. We will discuss that later but first, let clear some basics!
What Is Check-In & Check-Out?
Check-in check-out is a very effective tool. Especially, when your assets are sent from one place to another. Assets can be anything such as tools or vehicles. Check-in & check-out is one of the most important tools for the construction industry, manufacturing units, and rental organizations.
Also Read: What are the steps involved in the Incident Management Process?
With check-in check-out, you can know who has the asset when it will be returned. Hence, it provides asset visibility. In simple words, check in check out software provides a simple and easy solution to avoid asset loss and misplacement.
How Check-In Check-Out Works?
All assets are tagged with a unique identification number through which monitoring and tracking are done.
For asset tracking there are several techniques are available such as Barcode, QR Code (Quick Response Code), RFID (Radio-frequency identification), NFC (Near field communication), BLE (Bluetooth low energy), etc.
Few of these technologies provide updates in real-time and provide deep visibility of assets.
According to the Allied Market Research,
“The global real-time location system market size was valued at $2.83 billion in 2018, and is projected to reach $23.13 billion by 2026, growing at a CAGR of 30.2% from 2019 to 2026.”
Nowadays a rapid growth can be seen in the market of real-time location tracking. In the next few years, this growing speed will be increase compare to present growth.
Real-time asset tracking and check-in check-out work in a similar way and their main objective is the same! That is to keep track of assets, equipment, and machine.
What Are the Benefits of Check-In & Check-Out Software?
There are several check-in & check-out software benefits:
1. Avoid Theft
Asset theft is avoided with the assistance of asset tagging. Assets are assigned to an employee or department as per the requirement & availability.
And when the employee or department gets the required asset then it is the responsibility of them to make sure that it is returned in the condition that they had received.
So, this way, asset theft or asset misplacement are also minimized. This software notifies and reminds the employees about the returning of an asset. Avoiding asset theft is one of the major benefits.
Also Read: How Important Is It to Use Cloud-Based Incident Management System?
2. Employee Productivity
It is mentioned in the Xenit Blog, “the knowledge worker spends about 2.5 hours per day, or roughly 30% of the workday, searching for information.”
Similarly, lots of employees unwillingly wasted their time looking for an asset they require to perform the job. But they don't get the asset they look. In this way, the organization lost an asset & employee time is wasted. Overall, the productivity of the employee as well as the organization is decreased.
When you have check-in check-out software all assets will be located at the right place where these assets are supposed to be. Now employees will not have to look for assets! As a result, their productivity increased.
3. Asset Maintenance
Maintenance is one of the huge problems which affects the organization's bottom line. It can affect business in many ways! For example, if machine failure occurs production stops and other activities are also affected.
After which manager brings the maintenance team. They look at issues and charge fees accordingly. Moreover, if for part replacement inventory is needed. Therefore, it impacts badly on the business.
Check-in check-out also helps in asset maintenance. With the software, you can schedule maintenance of your assets, equipment, machines, etc. You can keep track of maintenance. It shows complete records including maintenance.
So, when an asset needs maintenance it will alert you so that you will know automatically when an asset needs maintenance.
4. Data Reports
When the software did not exist, it was very tough to makes reports because you had all documents but were not able to align them to utilize them. The main reason would be all papers were here and there so maintaining data on papers was not an effective strategy.
However, software nowadays getting so advanced and they have an inbuilt algorithm that helps the organization very effectively. Plus, the software keeps track of documents so you can create and get customized reports as well as per your requirement. It is considered as one of the best check-in & check-out software benefits.
You will get all the reports and statistics that can help your business in improving daily work-flow. These reports assist organizations in understanding the issue and when you know the problem you can find a solution.
Overall check in check out software will minimize asset loss, theft, and misplacement because it comes with real-time tracking. Moreover, you will be always aware of your asset to whom it is assigned, what is the condition of the asset, and when it will be returned. In the same way, an asset always will be maintained. Asset accountability also will be increased.
It makes the process automatic and the manual tracking method is eliminated. As a result, operation productivity is increased because now employees don't waste time looking for assets. Therefore, check-in check-out is very beneficial for business. It is one of the major features of asset management software.
Also Read: Key Features to look while choosing Asset Management Software
Frequently Asked Questions (FAQs)
1. For which industry check in check out is effective?
Check-in check-out is the most effective tool for maintaining those assets whose location is kept on changing from time to time. When an asset changes hands that is the time when an asset is lost. A few of the examples of those industries are the AV industry and construction industry, Asset rentals.
2. What are the must-have check-in check-out software features?
Check-in check-out software features should be efficient, user-friendly, simple, and accurate.
3. Which technology can be used for check-in check out?
Choosing the right combination for scanning tags and labels is very important. Because all technologies have their pros and cons for example barcode tag is very effective as compared to other technologies but you need to have a barcode scanner as well!