Assets are the building blocks of every business. But enterprises invest money to acquire assets. After spending a great amount of money on acquiring them, a lot of money is still required to keep assets well-maintained and in working condition. That doesn’t mean assets incur expenditures only. More importantly, they help you generate revenue.

However, the revenue must always exceed your expenditure in order for you to earn a profit. And when it comes to profits, keeping an asset register and using it the right way hold key importance.

To run a successful business, you must burn the candle at both ends. That is, you must strive to maximise revenues while at the same time try your best to keep expenditures at a minimum. This doesn’t mean you should be miserly, but frugal. Utilising an asset register is one of the perfect examples of doing so.

1. You could keep an asset register for general asset tracking purposes, or more specific asset management areas such as fixed asset management, IT asset management or equipment checkout. 

   All of these work, pretty much, the same way. An asset register carries a comprehensive log of all your assets and their relevant details. If, for instance, you operate a fixed asset register, it’s going to be a record of all of your IT hardware, furniture, phones, and other permanent fixtures. 

   itemit’s asset register software allows you to create unique asset profiles. Rather than using laborious spreadsheets and entering data rows and columns and cells monotonously, creating and using asset profiles with itemit is pretty fun! 

   All relevant details about an asset can be neatly stored away in an online database and any time you update them, the change takes place throughout the database. You can view and manage from any device with the itemit app or web portal.

• Maintain an up-to-date and accurate asset register
• Using asset tags to upgrade asset management
• Using asset management reports to make better decisions
• Save money by storing warranty information securely

Investing in an advanced asset tracking software is only the first step. To make the most out of it, you must ensure that assets are accurately logged and updated every time there is a change. This is because keeping obsolete asset records is no better than keeping none at all.

With an accurate and updated record of what assets you have and those that you don’t, you can avoid common pitfalls like avoiding duplicate purchases and saving up on extra taxes you might be paying on ghost assets.

Upgrading from conventional asset management methods to using an asset register can prove to be a game changer for your business. But if you want something even better, turbo-charge your asset tracking with itemit’s asset tags. 

These are unique QR code or RFID tags that can be attached to assets for identifying assets quickly and easily. Tagging your assets gives each item a unique identity. All you need to do is scan the QR tag with your smartphone camera to access an asset’s profile on itemit. 

Asset tags speed up the asset management process and increase the accuracy of your asset register, hence indirectly helping you save a lot of money.

itemit’s asset tracking software ensures that all essential asset data is just a few clicks away from you at all times. But there’s more. You can also export asset management reports that carry invaluable information on asset utilisation, asset productivity, asset expenses and more. 

With this useful information in your hands, you know which assets are used the most by your workforce and which ones are underutilised. You can use this data to make data-based predictions about your future asset needs. 

In the same vein, you can identify assets that are still functioning but using them costs you much more than the revenue they generate. This is another great way an asset register helps you save money.

Who even remembers the warranty details after a few months of buying a product? Well, the most frugal individuals and companies do! These are the same people and companies who want to make the most out of the money they spend on their assets.

We tend to throw away the boxes and warranty manuals that come with our assets, because we never have space for such stuff. But in the process, we are also throwing away a chance to take advantage of warranty policies for many of our assets in case something goes wrong. 

You can use an asset register and store the warranty information neatly within each asset profile. Anytime something goes wrong with an asset, you can easily access the warranty information and take advantage of it.

The aforementioned are only some of the various ways of using an asset register to save yourself both time and money. If you want to learn more ways how itemit can help save money particularly for your business, feel free to contact our friendly team at team@itemit.com. 

If you’re ready to take itemit for a test drive, fill in the form below to start your 14-day free trial.

Instant access. No credit card details required.

or, download the itemit app to get started

In this guide:

1. How Does Check In Check Out Software Work?
2. What are the Benefits of Check In Check Out Software?
3. Prevent Asset Misplacement/Theft
4. Increased Productivity
5. Increased Transparency
6. Better Management of Remote Work
7. itemit’s Booking And Check In Check Out Software

In this guide:

1. How Does Check In Check Out Software Work?
2. What are the Benefits of Check In Check Out Software?
3. Prevent Asset Misplacement/Theft
4. Increased Productivity
5. Increased Transparency
6. Better Management of Remote Work
7. itemit’s Booking And Check In Check Out Software

Come Monday, someone needed the same piece of hardware but couldn’t find it. They asked the manager about it, but they, for some reason, completely forget it’s with you or that you informed them before you took it. 

The ensuing office frenzy is a story for another day, but the time and energy wasted is what we want to address. Not only did other employees lose out on time and energy during that time, not to mention the mental toll it takes when you can’t find a crucial company asset, but you had to go through something even more difficult. Turning up with something everyone was looking for can be embarrassing. 

What’s more? You did nothing wrong. 

This wouldn’t have happened if your company used check in check out software. Things would’ve gone smoothly for you and your colleagues. Let’s talk a bit about equipment checkout software, how it works and the many benefits it has to offer.

Whenever an employee has to take an asset out of the workplace, they just need to press the ‘Check Out’ button on the asset profile, that’s it. The item is then marked checked out by a particular employee. This way, everyone can see who has what and for how long.

When returning a piece of equipment to the office, checking in is as simple as checking out. Just select the ‘Check In’ button and you’re done.   

Asset tagging can make check in check out software work even better because every asset has its unique identity with its own asset tag. Just scan an asset, and mark it checked out or the other way around easily.

• Prevent asset misplacement/theft
• Increased productivity
• Increased transparency
• Better management of remote work

If, for instance, your employees are moving dozens of assets back and forth every day, it’s very probable that more and more assets will start disappearing with time. The worst part is you won’t even notice it until something really important goes missing or you notice a considerable gap in asset requirements and availability. 

Check in check out software puts an end to this because now you know who checked out which assets and who to hold accountable in case an asset goes missing. This instils a greater sense of accountability within employees to keep company assets safe as long as they’re in their custody.

If you work in construction or any other tool-intensive company, you’d know how much time is wasted every day trying to recover tools and equipment. You can save on all of that wasted time when you have equipment checkout software. You can tell which assets are out of the workplace, who has them and the expected check in time in a matter of seconds.

To begin with, you have all the information you need about all your assets available to you at all times. This means complete transparency in asset management that solves the ghost and zombie assets problem effectively.

You can also obtain various valuable insight reports like information on asset utilisation. This enables you to be well-informed when making asset-related decisions in the future.

This is especially important with remote work or when you’ve got a lot of different employees and assets to manage across  a lot of different locations. Managers can now track down company assets like never before.

For instance, how do you track assets that are going to be passed among different employees while being out of the office at all times? How do you distribute assets and supplies among employees working from home?

All of this and much more can easily be accomplished with check in check out software.

To find out more about how itemit’s check in check out software can help you, you can contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

Instant access. No credit card details required.

or, download the itemit app to get started

In this guide:

1. What is Asset Tracking Software?
2. How Does Asset Tracking Software Work?
3. Benefits of Asset Tracking Software
4. itemit’s Asset Tracking Software

In this guide:

1. What is Asset Tracking Software?
2. How Does Asset Tracking Software Work?
3. Benefits of Asset Tracking Software
4. itemit’s Asset Tracking Software

Your business assets and how well you manage them define you as a company and what you’re capable of. Regardless of what sort of business you run or work at, tools, equipment, vehicles — collectively known as assets — are vital for daily operations. 

It’s for the same reason that it’s so important to make sure all assets are well-maintained, fully utilised and tracked to prevent damages, losses, or misplacement. The slightest asset-related inconveniences can disrupt service delivery, cause delays, or an eventual halt to a project.

This is where asset tracking comes in. A solution that enables you to minimise the chances of these problems occurring and ensure smooth operations while at the same time boosting business growth. 

itemit brings you a complete guide to asset tracking software. Read on for everything you need to know from what it is, how it works and what you can do with it.

Asset tracking is the process of recording and monitoring all your business assets in an asset register. You keep logs of the most basic information like what assets you own, where they are and who has them. Moreover, you can also record more specialised data like asset status, utilisation history and more, all in real-time. 

The functionalities we’ve described above are only the most basic. Yes, there are a lot of other things that asset tracking software does, but we’ll stick to the aforementioned for simplicity. 

Asset tracking software empowers you to do all that and much more, leveraging state-of-the-art technology, seamlessly integrated applications, extreme shareability and last but not least, a very user-friendly interface.

The first step in asset tracking is deciding what assets to track, what type of asset it is and then adding it to the respective asset register. It is a good idea to work out what kind of asset tracking you are looking for. 

Do you want to track IT hardware only? Fixed assets? Or are you looking for an all-inclusive asset register for mixed assets? Here are the most common types of asset tracking.

• Fixed Asset Registers

• IT Asset Management

• Tools and Equipment Tracking

• Check-in and Checkout Software

Once you’ve decided, it’s time to log an asset. All you have to do is open the software and add a new asset with all the details you want to record. The asset is now a part of your digital asset register that can be accessed from any device with the itemit app or web portal. 

The next phase is tracking. Every time the asset is moved, given to another employee, out-of-order or sent for repairs, everything can be updated through the asset tracking software. 

For instance, if an employee sees that a printer is out of ink, they can open the itemit app, and mark the printer in need of maintenance and mention that it needs an ink refill. The asset tracking software automatically sends out notifications to the concerned people about the maintenance so they can address it accordingly. Once the printer is refilled, another employee can track it so everyone knows the printer is now working. 

While asset tracking software itself is a powerful piece of technology that can improve your business operations by a lot, you can put it into turbo boost with asset tags. Tagging increases asset tracking efficiency and opens up new opportunities to boost business productivity. 

Now, when you’re carrying out audits, it’ll be a walk in the park for you since you’ve already got everything tracked in real-time. If you’ve used the asset tracking software right, you need only to generate configurable reports for all your assets. That’s it!

To say asset tracking software can do wonders for your business is not an overstatement by any means. The applications of asset tracking and their derived benefits are truly limitless. While the most common benefits of asset tracking, as discussed below, have their place, every business gains a unique set of benefits from how it uses the software. 

To start with, asset tracking boosts workplace productivity significantly. The time that’s lost looking for misplaced assets and waiting for out-of-order assets to start working again is reduced to the bare minimum. Simply because no asset gets misplaced when you’ve got them tracked with itemit. And whenever an asset needs maintenance, it can be marked ahead of time so that downtime is minimised.

It carries the potential to save you tons of money in many ways. First, asset tracking software gives you a clear overview of what you have and what you don’t. This helps you make informed decisions when buying new assets and avoid duplicate purchases. 

We all know how painful it is to damage a business asset just because we didn’t address a maintenance issue timely. Asset tracking helps you ensure all maintenance is done on time so you never lose a single penny so wastefully.

Of course, there are many more benefits that an asset tracking software has to offer than those we’ve discussed in the last section. What you do with asset tracking software is up to you and your business’ needs, but itemit makes a wide range of operations simpler and more automated. The off-the-shelf solution is easy to get started with and every employee can start using it with the free itemit smartphone app. 

To find out more about itemit’s asset tracking software, you can fill in the form below to start your 14-day free trial. You can also contact the team at team@itemit.com to learn more.

Instant access. No credit card details required.

or, download the itemit app to get started