In the old days, companies used to track their asset by using traditional spreadsheets and ledgers, but now this traditional system is being replaced with the revolutionary technology that can simplify asset Tracking.
In the 1800’s the invention of the machine-readable punch card was the major change in asset tracking. The device allowed people to record a variety of goods. Commonly known today as tracking of assets. In 1960’s, the world was introduced to the barcodes, which is also used in present times. Moving forward 20 years to 1980’s, the traditional tracking system was launched which streamlined asset management even more, but the system wasn’t as efficient as it is now in the 80’s. The system lacked the functionality of automatically updating asset records. After inventory barcode scanning, the information had to be recorded manually into computers.
More than 30% of all organizations do not know what they own, where their assets are located or who is even using them? Add to this the fact that evaluating factors that influence the actual value of assets can take up valuable time.
Locating assets is a critical task for many businesses. Company-owned assets are stored and then shared throughout an office or spread out to multiple locations. Assets are moved when needed by individuals or to be made available for different projects. The challenging part is keeping track of all the movement and changes of possession over time.
Asset tracking software provides supercharged features best suited for the tech world. The software helps you take control of asset mismanagement issues and lets you do this in the most cost-effective way possible. You can also quickly find out where each asset is located and see who the assigned custodian is if in case the system is assigned to anyone. This software can be fit for all industry whoever is looking to manage their assets in a more effective manner.
Following are the benefits of using Asset Tracking Software.
• Maintain asset records in a customized manner
In a fast-moving world of technology tech business need to upgrade their systems in their portfolio every few years. It is not restricted to the basic workflow. This rapid change means that the company acquires multiple gadgets at a time and discards the old ones. In this scenario, the company might face challenges in storing and updating asset information every now and then.
Asset tracking software allows you to customize fields according to your specific business model. Customization is everything to tech business. The software puts forward such a solution for your fixed asset management needs and gives you the option to record additional information to your business assets. As fixed assets need to be upgraded over time, so you can label their fields accordingly. This way you don’t have to create new templates every time when you add new items to your inventory and you will be able to store all your asset information under one secure system.
• Track assets across locations
Cloud-based asset tracking software enables you to seamlessly track all your assets at one place. You can assign a unique asset code which will be a combination of company name, location, department and a unique number in addition to this barcode can also be generated for all items which you want to ship off and enter their departure location. Whenever the assets are searched in the system it can be searched according to the location, departments, and type of assets.
This way you can make sure your assets are not lost and can track the performance of the asset throughout its lifecycle.
How Asset Infinity can help?
With Asset Infinity you can track all your assets across the locations, also you can see the status of the asset whether it is assigned to anyone or it is available in a spare. Also, the condition of the asset can be tracked and non-performing assets can be discarded and replaced with the new assets.
With Inventory tracking module, the spare parts for the assets can be maintained and maintain the stock availability for the spare parts.