The Importance of Fixed Asset Tracking

The Importance of Fixed Asset Tracking

The Importance of Fixed Asset Tracking

Before we go on to discuss the importance of fixed asset tracking, here’s a short overview of what fixed assets are, and what they mean for your business. 

A fixed asset is a term used to define objects of value that cannot be readily converted to cash. They are used in the business process to generate revenue and may vary from land to equipment.

Fixed asset tracking involves storing important asset details, such as the purchase date and the valuation of an asset in a single, localised directory. Be it a spreadsheet, a physical register, or an advanced fixed asset tracking software solution, the basic purpose remains the same – tracking asset data. 

Below, we’ve listed some of the most important reasons as to why fixed asset tracking is important.

The Importance of Fixed Asset Tracking


Benefits of Asset Tracking To Your Business


Accessible Asset Information

The day-to-day business operations often involve frequently accessing asset information. Be it for locating your assets or routine asset maintenance scheduling, your assets data is critical in many situations. 

As a result, whether your business lies in the IT or the construction sector, knowing where your assets are, and who has them is imperative to accountability. 

When asset data is both readily available and easily accessible, your business’s productivity increases.


Improved Customer Service

Though it may not be outwardly apparent, tracking your assets yields serious returns when it comes to customer satisfaction.

For instance, by utilising asset tracking to better analyse customer buying patterns, you can ensure that high-in-demand products are never out of supply. This in turn will improve customers’ satisfaction, and happier customers translate to loyal customers.


Reduced Spending

Of all the listed advantages, being able to save money definitely takes the crown. 

Asset tracking reduces losses in many different ways. Be it better planning, or improved resource utilisation, asset tracking has it all.

For instance, asset tracking allows you to track when an asset’s maintenance is required. Timely repairs help increase an asset’s lifespan and prevent the likelihood of equipment breakdown.


Fixed Asset Registers and Their Impact

Due to the immense importance they hold, managing complete, correct, and up-to-date fixed asset records can be quite a daunting task. However, asset tracking software can make all these time-consuming and laborious business functions seem like a cakewalk.

Fixed asset tracking, streamlines these functions, enabling you to log, track and manage your fixed assets in real-time. Furthermore, asset registers provide you with greater insight into how your assets are being used. 

Fixed asset tracking via asset registers has far more benefits than those mentioned above. Below are 4 major benefits of using itemit‘s fixed asset register.

  • Improving asset-level operations
  • Eliminating ghost and zombie assets
  • Reducing lost assets and duplicate assets
  • Assisting in business decisions


How Does itemit’s Fixed Asset Register Improve Asset Tracking?

Compared to traditional means of tracking assets, itemit’s advanced fixed asset register makes asset tracking a breeze while also providing you with an array of advanced features.

From logging what you own and monitoring how your assets are behaving to viewing your assets’ depreciation, itemit’s asset register comes equipped with all sorts of features.

In addition to all these features, itemit’s asset register allows you to view operating and purchasing costs. What this means is that you’ll be able to create clearer, and more accurate predictions owing to a more transparent view of your annual net and gross profits.

Being able to view what you own is critical, too. Ghost and zombie assets are a pest that plagues many a business. itemit’s fixed asset register makes combating these nuisances simpler. It accomplishes this by giving you an easy-to-comprehend view of the assets that you own. This allows you to improve accountability within your business and can prevent fines that would set you back an arm and a leg!

Compared to your run-of-the-mill asset tracker, itemit’s asset tracking software reduces the likelihood of asset losses and duplicate purchases. As opposed to traditional means of asset tracking, itemit also employs asset tags to facilitate asset tracking.

Fixed asset tags are physical tags that you stick onto your assets. They contain a unique code that links them to their unique digital counterpart. Once tagged, you need simply scan an assets tag to access its unique profile on itemit’s asset register.

Every time an asset is scanned, the time of the scan, who scanned the tag, and the last seen location, all get automatically updated and logged onto itemit’s asset register. This allows you to get a full audit trail and pinpoint when and where issues were reported.


itemit: Revolutionising Fixed Asset Tracking

To sum it up, asset tracking is a fundamental business procedure, one that is essential in nearly every business situation. Whether you’re looking to improve your business decision making or improve customer satisfaction, asset tracking is the way to go.

However, to take full advantage of asset tracking, itemit’s asset register is an indispensable software solution. Not only is itemit scalable, but it also features RFID asset tracking and image recognition via AI. Consequently, itemit should be your go-to asset management software solution. 

To find out more about how fixed asset tracking can help you in improving your business, feel free to contact our team at team@itemit.com. We are always happy to assist you with any queries you may have. 

You can also choose to test itemit yourself using our free 14-day trial. Fill in the form below and test out the fixed asset tracking features today!

The Importance of Fixed Assets Tracking

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Asset Management: How An Asset Register Saves You Time and Money

Asset Management: How An Asset Register Saves You Time and Money

Asset Management: How An Asset Register Saves You Time and Money

“How can an asset register help me?”

“What do I gain from using asset registers?” 

“Are asset registers even worth it?”

If any of the statements above sounds even remotely familiar, you’re at the right place. In this blog, not only will we be discussing how asset registers work, but also how they help in cutting down business expenses.

Whether you’re well-versed with asset registers, or if you’re just starting, by acquiring a comprehensive knowledge of how asset register software and all its features work, you’ll be better able to apply and utilise the software solution to maximise your business’s profits.

Why use an asset register


Why Use an Asset Register?

It goes without saying that an asset register is a software solution used to manage assets. However, an asset register is far more than the name lets on.

For starters, compared to traditional spreadsheets, asset registers provide you with the functionality to automate asset management. Rather than selecting and editing individual cells in a spreadsheet, an asset register allows you to edit and manage asset data, all contained within a single, unique asset profile. 

An asset register is highly effective at preventing asset losses and duplicate purchases because your data is visible, usable, and editable at all times. From tracking to summarising data, asset registers have it all. Furthermore, an asset register lets you have a clear overview of your assets efficiently. With a fluid and streamlined system, asset data such as locations and check-in/check-out status are updated automatically. 

By adding accuracy and accountability via itemit’s asset register, you’ll take strides in cutting both money and time expended. Though a simplistic snapshot of your assets is worthless when it comes to the legal intricacies of tax and insurance, an automated, streamlined asset register may yet prove to be your trump card.

If the paragraphs above went over your head, simply read on to make sense of the jargon overhead! 


How Tracking Fixed Assets Saves You Money

By tracking fixed assets data, you can log their respective locations, service history, and assignee\s. These processes are crucial for any form of asset tracking to help reduce asset loss, duplicate purchases and address any issues surrounding accountability.

At its core, the goal of fixed asset management is to provide users with visibility and control over their assets. Using this visibility and control, you can mitigate risks such as ghost and zombie assets while simultaneously tracking the valuation and depreciation of your assets.


The Benefits of Asset Register Software

itemit’s asset register software comes bundled with an array of powerful tools. From GPS-enabled location tracking to AI-powered image recognition, you can use every tool to save up on time and money. 

From speedy and effective asset operations to clarity and transparency, an asset register can both minimise and help in identifying ghost assets. This begs the question: “When should you use an asset register”?


Collecting Asset Data

Starting off, you should use an asset register when interacting with assets and collecting data. For instance, you may use this for daily operations, or alternatively for weekly audits.

By making use of the dedicated features of itemit’s asset register, you can reduce your workload considerably. Say that you’ve come across a fault in an asset. Rather than notifying all those concerned, a simple tap to report an issue on itemit will instantaneously update all the relevant employees.

This reduces the time spent on manual notifications, and thus consequently eliminates the cost of the communications channel. Similarly, asset tags can help with this too. Asset tags are physical labels that you can stick onto your assets and link with digital asset profiles. Scanning an asset tag will automatically log the time of the scan, the person who performed the scan, and so forth.

This speeds up data collection, asset interactions and automates asset location tracking in the process, giving you a clear audit trail.


Tax and Insurance Operations

By using an asset register to collect asset data, all of your respective asset data will be automatically logged and updated on a reporting page. These logs can be used for tax and insurance purposes. 

By utilising this functionality, you’ll be less likely to either miss out on assets or conversely add too many. By giving you accurate tax returns, the asset register can help you steer clear of hefty fines.


Fixed Asset Management Operations

Likewise, it’s also possible to use your asset register system as fixed asset register software. By doing so, you’ll be able to track depreciation for your fixed assets, which can help you save considerable chunks of money in the future.

Fixed asset audits are sped up when you’re both physically auditing a location or when you’re auditing the costs, status, and existence of your assets. Naturally, this will help reduce the time expended in what is usually a time-intensive, laborious task.


itemit: Cutting Costs On The Daily

The three characteristics shared by every reliable, cost-efficient system are transparency, fluidity and accuracy. This is why itemit’s asset tracking software saves you the most money: it is one of the very few systems that can reliably give you all three at once. 

Not only does itemit’s asset register allow you to track assets and their details, but it also provides you with a seemingly endless array of features. To find out more about how your business can save money using the itemit fixed asset register, contact us at team@itemit.com. We are always happy to assist you with any queries you may have. 

Alternatively, you can start your 14-day free trial and experience itemit’s software solution for yourself. Fill in the form below and test out its features today!

Saving Money and Time with Asset Tracking

Choose a better way to track your assets

Start your free 14-day trial now

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Asset Management: What Benefits Does IT Asset Management Give Your Business?

Asset Management: What Benefits Does IT Asset Management Give Your Business?

Asset Management: What Benefits Does IT Asset Management Give Your Business?

Trying to list all the IT-related assets that you may have can often be quite a baffling task. From mice to headphones, the list of assets seems nearly endless. Consequently, it comes as no surprise that managing this horde of assets is quite the hassle.

Fortunately, you’re at the right place. We’re here to help you out with this encumbrance and transform IT asset management from being a hard row to hoe to something so simple that you’ll be able to do it with your eyes closed. Continue on to learn more!

Asset Management: What Benefits Does IT Asset Management Give Your Business?


What are IT Assets?

An asset is simply something that you own that plays a role in your day-to-day business operations. Whether it’s employed in producing goods or services, or simply a plot of land owned by the business, assets encompass anything and everything that a business may own. 

However, the term “IT asset” refers to a specific sub-segment belonging to assets. Comprising any and all tools that help you in conducting computer-based tasks, IT assets can vary from hardware to software. Even digitally-stored information that holds some inherent value for your business makes the cut. 

To aid your understanding, let’s have a brief view of the three different forms of IT assets:

  •  Hardware: Any physical object that helps you conduct digital tasks is considered to be IT hardware. For instance, laptops, smartphones, mice, keyboards, printers, Wi-Fi routers, and telephones. 
  • Software: Purchased or leased software that helps in conducting your business operations, such as your employee’s data-tracking software system, are also considered IT assets.
  • Digital Information: Any information that is useful to business operations is considered to be an IT asset. These could be license agreements, financial datasheets, or even NFTs or crypto assets.


What is IT Asset Management and Why Do You Need it?

As an IT-intensive company, some of your routine tasks will involve keeping track of many different assets. As such, ITAM (IT Asset Management) software is an absolute necessity. 

Using an ITAM, you can assign unique profiles – equipped with important information – to each of your IT assets. For instance, you can create a new asset profile for a laptop, which can then store details such as the specifications, purchase price, warranty information, and so forth.

Moreover, IT asset management involves tracking much more functional data. From the current assignee to the next maintenance date, itemit’s ITAM places all such information directly into the palm of your hand. This makes the data both easy to understand and accessible, allowing you to make well-informed decisions for your business. 

Recording unique information for different assets opens a lot more possibilities to improve your business’s efficiency and productivity. By localising all the data and storing it in one specific location, itemit’s IT asset management software, gives you greater clarity and more control over your IT assets, opening up ways for your business to grow.

Not only can you create an accurate asset register, but you can also create customisable reports to observe how your IT assets are being utilised. Used correctly, these reports can prove to be the dark horse in boosting your business productivity, giving you an edge over your competitors.

From keeping a detailed and updated log of all your IT assets to sending asset maintenance reminders, itemit’s asset register has it all. With the help of such powerful tools aiding you in minimising costs, your business will be sure to grow.


How Can IT Asset Management Benefit Your IT Business?


Reduced Losses

itemit’s IT asset management software gives you a better view of your assets. By storing up-to-date and accurate data, the IT asset register becomes a powerful tool that helps you extend asset life, reduce asset theft and make the most out of your investments. From tracking depreciation to booking assets in advance, using an ITAM can allow your business to take strides in reducing loss of time and money.

What’s more, with the entire database just a few clicks or taps away, you can search the asset tracking software for any asset that your business owns. By utilising asset profiles, you can locate and retrieve assets, and avoid duplicate purchases.


Greater Accountability

Accountability and productivity go hand-in-hand. In general, using IT asset register software and asset tracking can improve your business’ accountability. Employees tend to feel a stronger sense of responsibility when they are assigned assets through itemit’s asset register. This encourages employees to be more mindful while using assets, taking greater care to ensure that they are used the right way, kept safe and well-maintained.


Faster Tracking with Asset Tags

With a built-in functionality to accommodate asset tags, itemit’s IT asset management software comes with a great range of helpful features and functionalities. Be it AI-based image recognition or GPS asset tracking, itemit’s asset register has it all!


itemit – IT Asset Management Made Easy

ITAM software is a crucial tool that every IT-intensive organisation can leverage for improved productivity and greater profits. For that purpose, itemit’s software solution is the one for you. Highly scalable and versatile, it’s a one-size-fits-all solution hand-made for all business sizes and asset tracking purposes. 

Feel free to contact our team at team@itemit.com to find out more about how your business can benefit from using itemit’s IT asset management. We are always happy to assist you with any queries you may have. 

You can also choose to take itemit’s asset register out on a test drive yourself using our free 14-day trial. Fill in the form below and test out its features today!  

IT Asset Management Benefits

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Asset Management: The Complete Guide To Asset Tracking Software

Asset Management: The Complete Guide To Asset Tracking Software

Asset Management: The Complete Guide To Asset Tracking Software

Asset management is a fundamental business function. Whether you want to locate a piece of equipment or if you’d like to calculate the annual depreciation, asset management encompasses all these different tasks. 

In the past, asset management was accomplished through different conventional methods. Not only were these extremely time consuming, but they’d also involve a lot of errors. Rendering business operations highly inefficient, and yielding a low productivity rate. 

However, new asset management software, armed with a plethora of powerful features, remove the weight off of your shoulders. From asset tags to automatic report generation, itemit’s asset tracking software has loads of advanced features. Continue on to learn more!

Asset Management in all industries


What is Asset Management?

Put simply, asset management involves keeping a track record of your assets for a range of details. From recording asset value to its location, asset tracking deals with nearly all asset-related tasks.

At its core, asset management works by keeping the business’s short term and long term goals in mind, while working to accomplish those goals via purchasing and managing stocks, bonds and funds.

Asset tracking software is utilised by many different types of businesses. Bakeries, IT software companies, NGO’s, and even churches often make use of asset management software to aid them in their day-to-day tasks.

Like most other business processes, asset management has also been revolutionised in the last few years. This has resulted in the asset register, a software solution that has made asset management a doddle.


What Features Does a Good Asset Management Software Have?

A good asset management software should, at its core, contain only data that is both relevant and up-to-date. Data stored should be presented in a form that is simple and easy to read.

Furthermore, with a good asset management software, you should be able to track assets and minimise the time it takes you to do so. This will help you save a lot of time and boost your business’s productivity.

That’s not all. To stand out from the crowd of asset tracking software, there have to be some special features. itemit’s asset register allows you to book assets, track asset life cycles and even use AI-powered image recognition to track different assets.

Another powerful feature of itemit’s fixed asset register lies in its ability to perform bulk actions. You can effortlessly perform actions on multiple assets at a time, reducing the time spent on otherwise arduous tasks.


Church Asset Tracking

With itemit’s asset management software, you can ensure that all your events and ceremonies run smoothly. Not only can you easily track any asset inspection date, but you and your entire team can instantly access any information directly from the itemit asset register. 

By using asset tags, each time you scan one of your church’s asset’s tags, the date/time of the scan, the location, as well as who scanned the asset, all are updated simultaneously. 

By making sure that you have all the assets that you need, when you need them, itemit’s asset management software allows you to share and contribute up-to-date assets data in real-time.

That way everyone is literally on the same page, all the time!


Construction Asset Tracking

Be it construction or any other business, it is a well-known fact that well-maintained assets have a longer lifespan. You can customise itemit’s asset register to receive regular maintenance notifications for individual assets. 

What’s more, by scanning tools and equipment with asset tags, you can instantly see where all your assets are and who has them. Construction often involves a lot of transportation. Assets are frequently taken from one site to another. This often leads to assets getting misplaced. To counter this, you can easily use itemit’s asset register to not only track the location, but also the last custodian of the asset

Tracking assets must always be as simple as possible otherwise you’ll have a hard time communicating asset information with your team and acquiring optimal asset management. Luckily for you, itemit is very simple to use. By sharing key asset records with relevant collaborators, you can easily reduce redundancy and improve efficiency. This way, you stay within your budget and right on top of your project schedule.


IT Asset Tracking Management

From PC’s to printers, IT companies have numerous assets that must be tracked. This is where IT asset management comes into play. Using itemit’s asset management software solution, you can ensure that your assets are fully maintained to reduce downtime and extend the lifespan of your IT assets.

By setting maintenance schedules for different hardware devices, you can configure itemit to send you a reminder whenever each asset requires maintenance. IT companies frequently upgrade hardware to stay ahead of the competition. When it comes to dealing with such assets, itemit gives you all the information you may need to stay up to date.

Likewise, if your IT company lends laptops and smartphones to employees, it is crucial that all these devices be tracked carefully. After all, IT assets don’t come cheap. itemit’s asset register can help you out, allowing you to track each laptop’s assignee, address, value, and other details.


itemit- Asset Management at it’s Finest

To find out more about how asset management using itemit’s asset register can aid your business, feel free to contact our team at team@itemit.com. We are always happy to assist you with any queries you may have. 

Alternatively, you can also choose to test itemit yourself using our free 14-day trial. Fill in the form below and test out its features today!

The Complete Guide to Asset Management

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

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How Does a Fixed Asset Register Help Your Business?

How Does a Fixed Asset Register Help Your Business?

How Does a Fixed Asset Register Help Your Business?

In the past two decades, technology has advanced by leaps and bounds, influencing and affecting all circles of life. It comes as no surprise that trade and transit have been riding the crest of the wave-after all, it is demand that drives supply.

The taxing task of noting and recording details of a business’s fixed assets has always been a spanner in the works of smooth business function. Even double checking each detail of a recorded asset does not warrant it from being completely free from slip-ups. The need for an accurate and reliable means to store asset data materialised in the form of a software solution: the fixed asset register.

In this blog, we’ll discuss how you can use a fixed asset register to place your business in the catbird seat, giving it an edge compared to market competitors.

Fixed Asset Register


1. Helps You Track Assets Efficiently

Recording the ID, valuation, purchase date and other details for each asset manually can be quite a lengthy task. What’s even more daunting is the task of updating each asset’s data individually by hand. In fact, rough estimates state that it’s quite common to spend nearly 80% of your time simply collecting, cleaning, and organising data.

Luckily, a fixed asset register shrinks the workload by a considerable amount. Rather than employing conventional methods of asset tracking, you can use itemit’s powerful features to save time. Features such as scanning asset tags to automatically access assets stored details can then be used to update data with just a few, simple screen taps.

Equipped with the capability to track asset locations, itemit’s fixed asset register can help your business prevent asset misplacement. This makes use of GPS location tracking, which, bundled with other asset tracking features help minimise the raw work of tracking and storing asset details. You can use this feature to save loads of time that would otherwise have been spent just searching for misplaced assets.


2. Helps Manage Asset Finances Easily

Running a business requires both vigilance and dedication. Only by keeping a tight check on the changing values of assets can you micro-manage and improve the efficiency of your fixed assets. Having said that, the detailed analysis does come at the expense of taking more time, and time is a very precious commodity.

However, what if we told you that it was possible to have a detailed analysis ready at hand, requiring nearly no time investment?

Though it may sound hard to believe, an asset register can track the annual depreciation of your assets with merely the tap of a screen. Available on mobile, itemit’s software solution provides such powerful tools to strengthen your business position in the market.

Need a graph? Or perhaps a pie chart? How about a report? itemit’s got you covered. Providing support for all types of different exports, it’s simpler than ever to understand trends using itemit’s fixed asset register.


3. Improves Decision Making

From board meetings to understanding a business’s survivability, business evaluations are used throughout the business process. Measures such as liquidity and the fixed-asset turnover ratio are all used to put a figure on vague business terms. 

Using a fixed asset register cuts down the error and the time taken in computing these calculations, leading to faster decision making. Sometimes, business valuations can even take up to 2 weeks!


4. Helps you Make Insightful Predictions

The usage of an asset register can be broadly categorised into two specific groups. It is either used to track and comprehend a business’s current position, fixed assets, and present value or on the other hand, the asset register may be used to graphs trends to help make plans and goals “future-proof”, i.e. prevent the assets from losing meaningful value in future objectives.

From estimating the repairs and maintenance costs of fixed assets to predicting future capital investment in assets, itemit’s fixed asset register has it all. 

Accurately estimating the cost of repairs for an asset can be used to gauge whether it would be better to replace or to continue using the same asset. Naturally, factors such as productivity can be factored into making this decision completely sound and error-free.


itemit – Business Simplified

If you’re looking to simplify your business decision making and to reduce the time taken and human errors in hefty business calculations, itemit should be your go-to asset management software solution. 

itemit is scalable, allowing you to use it for not only fixed asset tracking but also for IT asset management, high-value collection audits, RFID asset tracking and more.

To find out more about how itemit can help you in improving your business, feel free to contact our team at team@itemit.com. We are always happy to assist you with any queries you may have. 

Alternatively, you can also choose to test itemit yourself using our free 14-day trial. Fill in the form below and test out the fixed asset tracking features today!

Fixed Asset Register

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

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