5 Ways Asset Tracking Software Can Save Your Business Time and Money

January 16, 2023 • 3 min read
5 Ways Asset Tracking Software Can Save Your Business Time and Money
Home 5 Software & Tools 5 5 Ways Asset Tracking Software Can Save Your Business Time and Money

Here at itemit, we know that you only ever want to use the best asset tracking software around. This is why we are proud to offer you the chance to use our reliable tracking software. We work hard to make sure that we only offer all of our customers the best software possible. In fact, we make sure that it saves your business both time and money. Read on to find out how.

It Helps You To Locate Your Assets With Ease

Our easy-to-use software can help you to locate your assets quickly and easily. When a QR code or an RFID tag is attached to each asset, tracking is possible. You can log into our system and locate your assets within moments.

This feature can save you time because it doesn’t take long for you to locate every asset. In other words, you won’t have to go hunting for them. You can simply see where each of your assets are at the touch of a button.

Business Asset Tracking

It’s Possible To Export Reports

Our asset tracking software allows you to export reports as and when you need to. This is a feature that can save you a lot of time. It may even save you money as you’re less likely to need to hire someone to do the task for you.

Export the reports to your chosen format and print them off or send them elsewhere. This is a feature that means you can see which assets you have, their worth, how often they’ve been used, and much more. You can choose what you want the reports to mention and you can export them when it’s convenient for you.

You Can Maintain All Of Your Assets With Ease

Maintaining assets is not always easy. This is particularly the case if you have many assets in many locations. However, thanks to itemit’s asset tracking software maintenance is a breeze.

Simply set a reminder for each of your assets so you’re notified when it’s time for them to undergo maintenance. You can set a monthly, bi-monthly, quarterly, six-monthly, or yearly reminder. Alternatively, you can set a reminder to appear whenever you wish.

This is a feature that can save your business money. Staying on top of the maintenance schedule is hugely important as it means more of your assets will be in better working conditions. They won’t have to go years without being maintained. Rather, the assets will be looked after. As a result, they are much less likely to need replacing. It really is possible for this feature to save you money when you make the most of it.

Your Assets Automatically Become More Secure

Did you know that our asset tracking software can add more security to your assets? When you choose to track all of your assets you’ll find that they’re less likely to go missing. As a result, you won’t have to spend quite as much money replacing lost or stolen assets.

Additionally, your employees will know that your assets are tracked. Therefore, they may take more care of them. This means that fewer assets could go missing and they could sustain less damage. Again, this could potentially save your business money as fewer assets may need to be repaired. Every business is trying to reduce spending these days and we can help you with this by making your assets more secure.

You Know How Many Assets Your Business Has

If you ever bought more assets than you really need, you’ll know how frustrating it can be. The good news is that our asset tracking software can help you with this. When you group some or all of your assets together, you can see where they are and how many you have. As a result, you can know within moments whether there are enough containers in your warehouse, for example. With this knowledge, you may not need to order any more containers. As a result, you could save money that you may have spent otherwise.

Let itemit’s Asset Tracking Software Save You Time And Money

itemit’s asset tracking software is here to help your business save both time and money. Thanks to the way that our software works, you can save time and money in multiple ways. Many businesses are working hard to save both time and money these days. Our tracking software can help you to do just that.

Talk to one of our helpful asset tracking experts today to find out how our software can work hard for you. You can reach our experts at team@itemit.com. Alternatively, you could complete the form that’s found below to begin a 14-day free trial. You do not have to supply us with your credit card information and you could start saving your business both time and money today.

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Article by

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit. For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results. A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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Home 5 Software & Tools 5 5 Ways Asset Tracking Software Can Save Your Business Time and Money

Software asset management or SAM is a subset of IT asset management or ITAM. IT asset management involves tracking any asset that is linked to IT processes in your organisation. This includes all sorts of hardware and software.

As the name suggests, software asset management includes only the latter. SAM is a business strategy for managing and optimising how your company purchases, deploys, maintains, utilises, and retires software assets.

Software asset management, in many ways, is different from conventional asset management most of us are used to. This post aims to get you familiar with the idea, understand how SAM works and how to implement it in your business operations.

What Is Software Asset Management?

What are Software Assets?

Before we understand how software asset management works, it’s necessary to get familiar with the definition of software assets. Some of us already know what it is, but some don’t. Let’s make sure everyone is on the same page before moving forward.

A piece of software is a computer program that tells a computer how to work. It can be something as basic as the operating system such as Microsoft Windows or Linux, common apps like MS Office or more complex programs like project management or graphic design software.

Now, a software program is a business asset if your company has purchased it, owns it and uses it for its operations. Although these are intangible assets that do not hold physical value, they still are an important part of a businesses’ financial structure and define how it goes about its day-to-day work.

When it comes to using Software as a service, there are different schools of thought as to whether they qualify as an asset or not. It depends on your business. If you’ve not purchased a piece of software fully, but only use it with a weekly, monthly or annual subscription, then you may account for it as an expense rather than an asset. But again it’s up to you and your software asset management goals.

5 Benefits of Software Asset Management

Just like you can make duplicate purchases when buying other business assets, you can buy software licences in excess too. SAM is a smart approach businesses use to balance the software licences they purchase with the number of software licences they bring into use.

Since these are intangible assets that you cannot see sitting around the office unused, it becomes even easier to purchase licences wastefully. Software asset management helps you make sure you buy only what you need.

Here are a few of the most important benefits of software asset management:

1. Save money

Your organisation can consolidate its software utilisation, have more control over acquisition costs and make well-informed decisions regarding future investments in software with SAM.

2. Better Strategising

One of the most essential functionalities of SAM is to offer you a clear overview of all your IT or software investments so you can utilise all of them towards fulfilling your business goals.

3. Avoid duplicate purchases and repurpose software

As compared to conventional methods of tracking software licences that take up much more time, money and have a greater risk of error, using SAM systems offers you a competitive edge. Using a SAM system can cut software management costs and time by half, letting you allocate your resources to other aspects of your business.

4. Faster, cheaper and better management

If the HR framework of your organisation involves employees moving positions frequently, you might end up buying a lot of software licences wastefully. SAM lets you track all software the company has so that it can be reallocated and repurposed when no longer in use.

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