Why Do You Need Asset Tracking Software?

Why Do You Need Asset Tracking Software?

Why Do You Need Asset Tracking Software?

You might be an entrepreneur or a manager, and your responsibility is to keep business operations running smoothly. Assigning roles, signing paychecks, maintaining workplace morale and productivity and discipline are only a few of the many things you must take care of. 

As it happens, keeping track of business assets and ensuring they are secured and well-maintained also falls into your domain. If you have thousands, hundreds or even a few dozen important assets to track, things can get out of hand easily if you’re not using asset tracking software. 

If you have ever felt overwhelmed by the sheer number of assets you need to track and are responsible for, that is a compelling enough reason to get asset tracking software right away!

How Does An Asset Register Improve Your Equipment Tracking


Asset Tracking Software Lets You Focus On What Matters

Here’s the deal. Successful asset management takes time, energy and dedication. You simply cannot run it along like any other minor work chore you carry out day-to-day. 

There’s no way you could track all your assets properly if you don’t allocate a considerable part of your workday to recording asset details in spreadsheets or other documents. Let’s face it. Even though asset tracking is a very important aspect of business management, you can’t pour all your time into it. 

If you’re an entrepreneur, or if you hold any other supervisory position, there’s a specific set of skills you possess that make you the perfect fit for what you do. For instance, if you run a construction company you might be a talented architect or seasoned builder. You cannot let an hour of your day go to waste just trying to keep track of your equipment every day; you’ve bigger fish to fry. 

So if you want to channel your time and energy to your actual job, you’d have to share the asset management responsibility and take the load off your shoulders. You could either hire a new employee and pay them in full for asset management solely, or you could get an instant solution with asset tracking software, which is much cheaper and much more efficient. Continue reading if you’re still not convinced.


Asset Tracking Software will Enhance Your Productivity

Asset tracking software lets you have a clear overview of all your assets instantly. You can look up a piece of equipment, find out its location, who has it and its maintenance details in a matter of seconds. There’s a lot of possibilities with asset tracking which ultimately save you and your employees precious time. 

Try to tot up the amount of time you spend each day trying to find items you need in the workplace. Add up the delays you have to face when an asset goes out of order because maintenance was not scheduled or any other asset-related inconveniences. This time could be multiplied by the number of employees you have since everyone works with the same business assets as you. 

You might end up with a pretty large number of hours gone to waste every day, every week and every month. You could utilise this time and make yourself and your employees more productive, and save money with asset tracking software.


Asset Tracking Software Opens Up Business Growth Opportunities

A business experiences the highest growth rate when it’s young. This is primarily because a new business is not strangled by the knots of complex business management. As an enterprise grows, the number of employees, assets, and liabilities grows too. 

It’s not long before entrepreneurs find themselves surrounded by a plethora of administrative tasks such as employee management, asset management, audits and much more, not to mention their primary job which is to make sure their business delivers profitable products or services. They find themselves unable to focus on this primary goal, and that is where business growth stops. 

While there are different solutions to the different administrative tasks, asset tracking software is the only answer to your asset management woes. As soon as you employ asset tracking software in your daily operations, it’ll start bearing results from the very first day. And soon enough, you’ll notice a lot of free time opening up for you to focus on the essentials. 

Not only that, asset management software allows you to discover new horizons of productivity and growth at a whole new level. When each of your employees is saving hours of time every week and devoting more time to the real work, the positive impact is much more amplified.


Asset Tracking Software Opens Up Business Growth Opportunities

itemit is the best asset tracking software you could find on the market right now. This is because it’s the only software that can help you achieve all that we have talked about above. 

itemit is used by firms worldwide to track a huge range of assets. itemit’s friendly customer support is always at your service and setting up this off-the-shelf solution is simple enough thanks to its many streamlined features and capabilities.

To find out more about how the itemit asset tracking software can help save your business time and money, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Asset Tracking Software

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Why Your Business Should Use Asset Tags

Why Your Business Should Use Asset Tags

Why Your Business Should Use Asset Tags

Imagine if you referred to your employees or team members as “employee no. 5” or “reception desk assistant” rather than their actual names. Weird, right? Why not use an individual’s own unique and beautiful name to mark their identity. Names make life so much easier! *laughs*

In the same way you can refer to each employee’s identity with their name or unique characteristics, why not do the same for your business assets? itemit has a way!

With asset tags, you can give each asset its own unique digital identity. So rather than confusing identical-looking keyboards with each other, you could identify them easily with asset tags: they are very useful and so much fun!

The Best Asset Tracking Implementations And Use Cases


The Advantages Offered by Asset Tags

As is commonly known, asset tracking software has opened up new horizons for businesses worldwide. And asset tags are playing a vital role in unlocking these new possibilities. 

The benefits of asset tags share a common quality with the universe: they’re constantly growing. 

Apart from the commonly known benefits, as we’ll discuss below, there are many more creative ways to use asset labels. New companies that utilise asset tracking technology introduce innovative ways of using the system, which keeps adding to the never-ending list of its benefits.


Each Asset Gets a Unique Identity

Your business assets are only the second-most important part of your enterprise after your workforce. So like referring to employees with their names is better, so is the case with assets. 

Installing an asset tag on an item is like giving an employee an ID card. Just scan the tag with a camera or RFID reader and you’ll get all information on the asset in a jiffy. This functionality is especially useful for companies that work with multiple identical-looking assets.

For instance, differentiating computer screens of the same model and make is almost impossible. More often than not, employees tend to mix up such assets during repairs and maintenance which can lead to a lot of hassle. Not only that but you lose sight of each individual asset’s unique historical life. Asset tags put an end to this. 


Reduce the Risk of Human Error in Asset Tracking

Even if you’re using an asset tracking software, you might end up updating asset details on the wrong asset profile. This usually happens with assets that look the same.

For instance, if you have two printers of the same model and one of them needs to be repaired, you might end up marking the other one for repairs. Differentiating identical assets from each other is much easier with asset tags. 

This way you can mark the right printer for repairs. When the repair team comes to pick up the printer, they can also scan the tag so they’re sure they take the right device for repairs. All in all, asset tags will reduce the risk of errors and improve asset tracking processes significantly.


Brand Recognition with Asset Tag Customisation

itemit gives you the option to customise your asset tags. This means you can add your company’s logo, moto or contact number on the tags. 

Apart from serving as a great marketing tool, you could also include other useful information on the tag. Asset tags can be personalised to have a serial number or ownership details. Better yet, you could add your contact number on it to call if someone finds a lost asset. 

To get your custom tags quote, reach out at team@itemit.com.


A Cheap Way to Instantly Boost Workplace Productivity

Every business owner wants to know the cost of investment when trying out something new for cost-benefit analysis. This is where a crucial question has to be asked: Whether or not an idea will generate a good return on investment?

As much as they are useful, you’d be surprised to know that asset tags don’t require a substantial investment. Asset tags are a very low cost solution, and the benefits of using them outweigh the costs by tons.

Only the more advanced asset tags, like RFID asset labels, are more expensive. 

Small and medium businesses can get started with low-cost QR asset tags right away. You start reaping the benefits of asset tagging from day one, but once you discover its full potential, you’ll be glad you made this decision. 


Meet itemit’s Asset Tags

itemit offers a variety of asset labels featuring different functionalities, sizes, materials and costs. You could go for vinyl QR code stickers that come in 23mm square and are great for indoor assets like hardware and office stationery. 

We also have anodised aluminium QR asset tags that are better suited for outdoor use and can withstand the effects of the elements. Last but not least, itemit’s RFID asset labels are of the most sophisticated sort. These are great for discreet tagging of high-value assets

To find out more about itemit’s tags, you can contact the team at team@itemit.com. You can also start your very own 14-day free trial by filling in the form below. 

Play tag with your assets!

Asset Tags

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5 Reasons Fixed Asset Management Software Is Worth The Investment Today

5 Reasons Fixed Asset Management Software Is Worth The Investment Today

Okay, so we get it, finding a better way to manage your fixed assets may not be the most exciting thing you have on your to-do list. BUT, fixed asset management software is often a very quick-win that will make you kick yourself you’ve put it off for so long.

If you’re new to this whole fixed asset register thing then let’s make sure we’ve covered the basics first. What are fixed assets? 

There are so many ways your team will benefit once you introduce the best fixed asset tracking software, but here we’ll cover off 5 of the top reasons that prove fixed asset management software is well worth your investment today.

1. Your ROI is less than one year

When it comes to your return on investment, few opportunities will give you a faster return than taking back control of your fixed assets with a modern-day asset management solution.

save time with inventory check in check out software

Consider the amount of time you and your colleagues spend trying to hunt down the equipment you need. Now, multiply that by the hourly rate each of your team costs the business. And, we’re not done there… Next, add to that the amount of money you spend buying new assets because you can’t find the ones you’ve purchased previously. Still with me?

Phew. Now, it’s very obvious that your ROI will be less than a year, with fixed asset management software pricing starting at less than £1000 per year. 

 

2. You’ll regain control of your assets instantly

We’re all impatient and seemingly getting more impatient by the day. Luckily for you, if you set up your fixed asset inventory software today, you’ll instantly begin to take back control of your fixed assets and equipment. 

The best fixed asset management software gives you a free trial that you can begin today. That means an immediate look into how much better your life is going to be. What’s more, is that you can add fixed assets to the system and invite your colleagues to join your account so you can revolutionise your fixed asset management in just a few quick clicks. 

 

3. You’ll be able to give your boss the answers they need 

We’ve all been there, your boss has an important meeting, and they need to report on the whereabouts and condition of the business’ fixed assets. Your boss is a busy person, and so they’ve only given you about 20 minutes notice. Don’t sweat it, with your snazzy new fixed asset management software you can pull off customisable reports that will show you: 

  • how many fixed assets the business has
  • what the current value of your fixed asset list is
  • what condition your assets and equipment are in
  • the replacement value for the fixed assets that are in poor condition
  • where your plant, machinery and equipment is
  • when equipment maintenance and inspections are due 

 

4. You’ll save significant amounts of money in month 1 

How many assets did you lose last month? No idea? 1? 12? If your business loses one asset a month, with an average value of £500, in a year that equates to £6,000 worth of lost assets. Not only do you need to replace these assets, but from an environmental perspective, it’s an entirely unnecessary and damaging waste of resource.

If we’re really honest with ourselves, the number of assets your team loses or misplaces each month is nowhere close to 1. We’re probably talking about somewhere between 5 and 10. Not all will be lost forever; some will rock up months later with no explanation as to where they’ve been all this time. Nonetheless, even at five assets a month, you’re experiencing a loss of £30,000 each year in lost and misplaced assets. 

 

5. You’ll have more time to focus on the things you really enjoy  

If you’re still wondering how else you can justify fixed asset investment, first of all, re-read the above and let those points sink in properly. Then, remind yourself of the purpose of fixed assets and why fixed asset register software is critical for a happy life.

We all wish we could spend less of our time on operational, administrative burdens. Thanks to the rise in cloud based fixed asset management software, we can now do precisely that. Welcome to a world where you can:  

  • see fixed asset whereabouts in real-time
  • use the mobile app on-the-go to scan and interact with assets and equipment
  • update your fixed asset register software from anywhere
  • share the burden of tracking fixed assets with your colleagues
  • pull off customisable reports based on live data 
  • and get back to the things you enjoy doing 

 

Fixed asset tagging – An added bonus 

So, now we know the importance of having fixed asset register software that is easy to update and manage, we must not forget the second critical element of managing our fixed assets effectively – a fixed asset tagging process.

If tagging fixed assets is a new concept to you, then do check out our complete guide to fixed asset tagging

When we say fixed asset tagging, what we’re referring to is a process of attaching physical tags to assets so that they are instantly identifiable. These can come in several forms depending on the type of assets or equipment you’re tracking and what environments those assets are exposed to.

With fixed asset tags, you can:

  • scan a tag to retrieve further information about that asset
  • enter information about that asset immediately, simply by scanning the fixed asset tag
  • associate the physical asset to the digital record of information for that asset
  • make it super easy for your team to interact with assets and report any faults or issues they come across
  • track the location of your assets

Whether you’re new to fixed asset management software or you’re just looking for a modern-day solution that takes advantages of the latest technologies to make life easier, check out the itemit fixed asset register software here.

Still looking for more information? Read the below.

Choosing the right fixed asset register software for your small business

How to rollout fixed asset management software in your business

What Information Should I Add to my Fixed Asset Register?

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What is EAM (Enterprise Asset Management)?

What is Enterprise Asset Management and does your business need it?  

 

What is enterprise asset management (EAM)?

Enterprise Asset Management (EAM) is the term used to describe the process of managing and maintaining an organisation’s assets (including tools, equipment, plant and machinery) throughout their lifecycle to maximise efficiency and quality and minimise costs. Enterprise asset management (EAM) is also sometimes referred to as computerised maintenance management system (CMMS) although many consider CMMS to focus only on the maintenance aspects. In contrast, EAM considers all aspects of managing an asset throughout its lifecycle.  

Over its lifetime, an asset will require maintenance to maximise its useful life. Optimising the useful life of an asset is highly desirable for organisations as this is usually the most cost-effective approach to managing assets. EAM includes managing the asset throughout its whole lifecycle, including the following stages: design, commission, operational and replacement.

What is enterprise asset management used for?

Businesses use EAM to manage assets through each stage of their lifecycle. This includes to schedule and monitor the planned maintenance required by each asset over its lifetime. Also, EAM manages and tracks any unplanned maintenance that is needed. When the asset needs to be replaced, this is also something that enterprise asset management caters for.

What is the useful life of an asset? 

The useful life of an asset is the amount of time it is economical to continue to use the asset within an organisation. 

How long is the useful life of an asset?

The length of an asset’s useful life depends on firstly the type of asset and secondly the Accounting Standards in your country. If you’re UK-based and implementing enterprise asset management, you can find out more about accounting for different types of assets here. 

What types of assets should be tracked and managed by EAM?  

What is enterprise asset management software? 

Enterprise asset management software is a tool used by organisations to manage all parts of the asset management processes.  

This usually includes maintaining a database of company assets, tools and equipment, preventive maintenance scheduling, asset lifecycle management and warranty management. Your EAM software options are no longer hard-to-use, complex systems. Instead, you can use a simple but complete enterprise asset management system with a desktop portal and mobile apps. That way, you’ll always be able to monitor your assets.

What are the benefits of using enterprise asset management software?

Ensure your business is compliant

As a business, you have the responsibility to ensure that safety levels are upheld. If you cannot be sure whether assets are in fully working order, are safe to use and have been maintained as per the recommended guidelines, then you cannot be sure that these assets and pieces of equipment are safe for use.   

Enterprise asset management software makes this area of compliance transparent. This means you and your team can all see the status of assets you are required to use.  

Easily manage maintenance schedules

When you’ve got hundreds, if not thousands, of assets and pieces of equipment to operate, keeping track of all important dates for planned maintenance can become a challenging task. By handling these schedules using an EAM system, you can be confident that assets are fully maintained. 

Proper and timely maintenance can help to avoid the risk of further unnecessary damage to the equipment. In addition, if faulty tools or machinery are still usable by staff, there is an increased risk of injury or accident. 

Reduce costs 

More often than not, it’s cheaper to repair an item than it is to replace it. Furthermore, if you’re able to reduce the number of repairs that an asset requires, by ensuring it’s thoroughly maintained and serviced, then this reduces costs yet again. 

Improve efficiency 

Enterprise asset management systems cover the critical assets a business needs to continue running day to day. Therefore, any loss in productivity as a result of assets breaking down due to lack of servicing and maintenance is highly inefficient. Your workforce would grind to a halt if the assets they rely on were to fail regularly. By using EAM software, the risk of asset failure is reduced.

 

Can your business afford not to use an enterprise asset management solution?

With all of this considered, it’s obvious why the majority of businesses utilise EAM solutions. With so many options available on the market, all you need to do is carry out a little research to find your perfect match.

Try out the itemit enterprise asset management software for free

Complete the form for a free 14-day trial

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

How do I view an asset’s last seen location?

Option 1:

1. Quickly see an asset’s last seen location on any list view within the app.

You’ll also see when the asset was last seen.

Option 2

1. Tap on your desired asset in the list.

2. Scroll to the Locations section on the asset’s profile.

3. Here you’ll find the last seen location. Tap on the address to find out more.

4. See the asset’s last seen location on a map as well as who scanned the asset and when!

Option 3 – Using the itemit web portal

Note: You need to be an Enterprise user to access the web portal.

Start your free 14-day trial of itemit Enterprise here.

Already got the app? Head to the menu and tap ‘Upgrade to Enterprise’

Next, log in to the itemit web portal here.

1. Head to the Reports page.

2. Click on the “Add filter” option on the left side of the page.

3. Select the “Last Seen Location” filter.

4. Adjust the filter preferences according to your requirements and click the apply filter button.

5. Now you can see a list of all your assets that match your filter. Scroll to the right for more asset details.

6. View all attributes for your assets, including their last seen locations.