A company may deploy several equipment and resources at the workplace that are used by its employees to perform the several tasks related to their jobs. The duty of the employees is to utilize these resources to create revenue for the company. Every day, they will come to the workplace, do their assignment, and leave after their shift is over.
The owner of these assets is the company, not the employees. As long as the employees are sincere and taking responsibilities for the assets provided to them, the company won’t have to concern much about the accountability of its employees. There won’t be a disturbance in their workflow.
Equipment breakdown is prevalent
Cases of equipment breakdown or system failure can occur due to unforeseen circumstances. This may lead to downtime in a business due to the impairment of assets and machinery. The organization must implement a regulatory system to monitor the resources as well as the employees to avoid such event.
Consider that you have a retail business and your employees are using resources to carry out the daily chore. One day, you found out that the steering wheel of the tow truck you provided for warehouse has broken down. Then several questions bubbled up inside your head.
Who did this? When was the vehicle assigned, to whom and for what purpose? Should I trust my employees? What would be the maintenance cost if repair and replace the steering? Or should I purchase a new vehicle?
Here are some tips that will free your mind from the worry of asset breakdown.
Establish an asset requisition process
In order to monitor the allowance of assets to the employees, every company is required to set a guideline for allocation which is also known as requisition process. In this system, there will be a formal procedure when handing over the assets to the employees. It is a process where the report of “requesting” and “allotting” of equipment is recorded. Certain information will be noted down in this process.
From a requisition process, a company will able to see the information like status, condition, the location of the particular assets, and to whom it was assigned.
Monitor your workplace with asset tracking software
By using asset tracking software provider Asset Infinity, you can maintain the audit trail of the assets used in the business. You can check the movement history of a single or multiple assets regarding the information in this cloud-based application. The information may include the name of the asset, quantity, date and time of allotment, quality, depreciation cost, and user detail like the name of the assignee and the associated department.
In the cloud-based computerized maintenance management system (CMMS), you can create and attach barcode stickers to multiple assets at the time of allotment to multiple users, departments and locations. This audit software will indicate you about the status of the assets as well as its asset value.
Enterprise asset management helps you review employee profiles
Many companies encounter asset misappropriation incidents involving its employees. These individuals abuse the company resources provided to them by either exploiting or callously handling them. This could even drag the organization into fraudulent scandals.
Asset Infinity can prevent your organization from such situation. At the time of allotting the assets, you can record information about the assignees’ details – name, employee code, department, previous allotment detail, types of equipment they have used, and the number of allowances.
From this accurate data recorded in the facility management program, you can grasp the history of the employees and how they have been using the company resources from time to time. For example, an employee Mr. X has requested a brand new computer on his desk. From his profile, you found out that the person had already replaced the system for a few times in the past. The administrative can either take disciplinary action him or terminate him for the offense.
Asset tracking software can help in optimal usage of assets
With asset tracking software, you will know how long a specific asset can be issued to specific persons. By using this dynamic equipment tracking software, you can record the information of the assets along with the time of allocation. For an instance, a printer is being assigned to an employee of a specific department. At the time of handing over the asset to the person, you can define an expiry date to the asset. When the asset reached its expiry date, the asset tracking system will send a reminder for returning the assets.
Asset Infinity is a leading b2b cloud-based enterprise asset tracking software & asset management app, serving top global enterprises in various industries.