When you track your assets’ lifecycles, you get more use and longevity out of your assets. Knowing what state your assets and tools are in, where they are and how usable they are all gives you a return on investment.

As you’re able to monitor your assets, you can make decisions based on this information, too, such as which assets you need to decommission, purchase, and deploy.

Overall, asset lifecycle tracking gives you more visibility and control over your assets which, in turn, gives you back time and money.

Asset lifecycle tracking is the discipline of monitoring an asset throughout its lifetime. This means monitoring an asset from when it’s received, to when it’s put in use, to when it’s decommissioned, to when it’s either sold on or scrapped.

There are various important parts to asset lifecycle tracking, including maintenance monitoring for routine and reactive maintenance. You need to reduce asset downtime and know about issues as early as possible so that they don’t become fatal for the asset.

You also need to be able to track your assets’ depreciation so that you can see which assets are no longer economical to use and replace them in a healthy, and timely, schedule.

So, why should you go through these asset tracking operations? It’s quite simple: when you track equipment checkouts, issues, and locations, you get much more visibility over your assets.

This visibility saves you time and money and gives you more accountability over your assets. In turn, this translates to longer asset lives and more accurate tax and insurance reports.

You also avoid risks such as misplacing assets. A lost asset can decrease your visibility over your accounts and, therefore, offset any depreciation calculations and create a risk of ghost assets.

So, what is the best way to track your assets’ lifecycles? Quite simply it’s the use of asset tracking software.

With asset tracking software you’re able to log all of your assets and equipment onto a system and physically track them. You can add critical data and information against these assets, too, such as issues and maintenance.

A clean UI makes pinpointing growing asset issues or risks simple and, therefore, allows you to mitigate an accelerated end of life for your assets.

You’ll be able to use software for IT asset management, fixed asset tracking, tools and equipment tracking and more, ultimately tracking the asset lifecycle of all of this kit.

Then, you can increase usability, accountability and visibility even further by using asset tags. Asset tags allow you to automate auditing as, every time you scan an assets’ tag, that assets’ last seen location will update.

itemit’s asset tracking software gives you a cloud-based app and integrated web portal. This means that any changes you make onsite are also reflected on your desktop, ready for you to run and edit reports on.

With itemit, you can run reports on your assets to see which assets need the most maintenance and have issues associated with them. You can also run reports to see which assets have and haven’t been scanned after a certain date.

Ultimately, itemit gives you the visibility you need over your assets to take them further and get the most use out of them possible, while also helping you reclaim accountability over your assets.

To find out more about how itemit can help your business, 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

Construction, electrical, plumbing, automotive or manufacturing, you name it. All these industries are heavily reliant on a large number of tools and equipment. Not only that, almost every medium-to-large scale establishment has a department that operates with a lot of tools for its day-to-day operations. 

If your work involves using different tools, you’d already have your reasons for getting a tools tracking system. But if you’re an executive member who isn’t involved with tool-intensive work or you just need some convincing about getting tools tracking software for your organisation, this 4-minute read is for you.

itemit’s tool tracking system allows you to track your tools in real-time. From smaller hand tools like hammers and spanners to large units like cement mixers and wheelbarrows, you can track them all from one cloud-based platform. 

With itemit, you can see what tools you have, who has them and where they are, and every other important detail so you never lose a piece of equipment again. It also gives you valuable insight on tool utilisation trends so you can make the most out of your tools and make well-informed tool purchases.

Everything from a small tool like a screwdriver to a more important piece of machinery like a large drill machine forms the backbone of your company. To keep your business running smoothly, it’s imperative to ensure all its nuts and bolts are kept track of, in place and tightened! 

In a tool-intensive industry like construction or automobile repair, tracking your tools should be a huge concern. Simply because you incur huge losses in time, productivity and money in the absence of a robust tool tracking system. 

The slightest deviations from the work plan, for instance, time lost in recovering a lost tool, can cause huge delays in project completion. Because this is not just half an hour lost on finding one screwdriver. This is an aggregate of multiple days lost on finding different tools misplaced by different employees every day!

On top of that, when you keep losing track of your tools, the delay also increases the cost of project completion. There are irregularities in tool data when you don’t have a tools tracking system, and this, in turn, leads you to make incorrect decisions about your company’s capability. You cannot provide accurate time and cost estimates. Time loss coupled with incorrect estimates results in the actual project completion cost being much more than what you initially anticipated. 

All in all, not tracking your tools leads you to faulty decision making, incompetent planning, and ultimately, the inability to fulfil commitments. But this is just the tip of the iceberg. There are many more ways how tools tracking software helps your business. 

When you’ve got dozens, if not hundreds, of tools being used by employees, making sure that each piece of equipment is maintained and is working properly can feel like a gigantic task. And it is as important as it is difficult. As a services company, you don’t want your heavy equipment breaking down at the wrong time, resulting in huge productivity and financial losses. 

Undoubtedly, tools go through wear and tear when they’re used and will not always stay in mint condition. It’s especially essential to keep an eye out for the most important equipment and make sure they’re working properly. 

With a tool tracking system, any employee can report issues with equipment so the responsible person can take care of its maintenance in time. This increases productivity and maximises your tools’ life cycle so you can get the most out of them.

Tools tracking makes work much easier and more efficient, this is especially true if your employees have rotating shift hours. For instance, medical workers or builders rotating shifts find it very hard to find essential equipment where it was left off by a previous shift worker. This leads to unnecessary hassle for the employees just beginning to start their shift, and a loss of precious time and energy. Tool tracking can help streamline this process by allowing employees to pick up essential tools and get to work right away. 

That is not all. Tool tracking software enables you to track tool utilisation and identify equipment-related problems that are slowing down the work. This way you can address a shortage in your tools inventory timely and keep operations running at full capacity. Brilliant.

No matter how proficient you may be at what you do, no matter how skilled your employees are, poor management leads to poor performance. If you have your tools and equipment disorganised all over your workplace and project site, and if you’re not using a state-of-the-art tool tracking system to track them, you’re losing out on a lot!

itemit’s tool tracking software can instantly boost your management skills and help you get everything on record and tracked. This means you stop losing tools every now and then and you are aware of the tools you have. Most of all, the heavy burden of keeping track of company tools can be shared by all employees as everyone can access and record tool details through the itemit app.

itemit’s tool tracking software allows you to carry out all of the tool tracking functions mentioned above and much more including the ability to book tools, check tool bookings, and equipment check-in and checkouts.

Using our tool tracking software is super easy, and you can learn how to track your tools in just a few minutes. To find out more about how itemit’s tool tracking software can help your business, you can contact the team at team@itemit.com. You can also 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

Asset tracking is a huge part of successful organisational management. The most successful enterprises around the world are harnessing the power of effective asset tracking to increase productivity and maximise their profits.

It’s no surprise that asset management software is taking the business world by storm. Not only that, its wide range of benefits and versatile functionality has also attracted governments, military agencies and individual users to implement asset tracking technology for their respective uses. 

If you’re not sure whether you need an asset tracking solution or not, discovering the most common uses for asset tracking might help you make your decision. This way, you can learn about the various ways itemit is used in different industries and possibly identify how you can use it for your needs.

• Fixed Asset Register

• IT Asset Management

• Equipment Check-in and Checkout Software

• High-value Asset Management

• Digital Asset Tracking

• Personal Use

One of the most common uses for asset tracking is keeping a fixed asset register. A fixed asset register logs, tracks and manages permanent business assets that can’t be readily converted into cash.

It wouldn’t be wrong to say that every business must maintain an up-to-date fixed asset register. It gives you summarised information on what assets your business has, and what they are worth. 

It enables an organisation to record and maintain accurate financial and non-financial data for each fixed asset. This way, it can easily evaluate its assets when needed. Plus, there are many other benefits of using a fixed asset register.

Fixed asset management represents a wide umbrella that involves tracking every asset an organisation intends to use or own for more than a year. Within this umbrella, IT assets are the most commonly tracked asset type across the world. 

Apart from a few primary sector industries, all other segments of the economy involve the intensive use of IT assets from computers, laptops, and smartphones to USB sticks, scanners and photocopiers. If you think about it, you might not be able to identify more than a few industries that do not need all these devices to function.

Such widespread use of IT assets calls for IT asset management. This involves keeping track of all IT assets including hardware and software you own.

Asset tracking comes in handy when employees have to frequently take company-issued assets out of the workplace. itemit can also be used as an equipment checkout software solution. It enables employees to book assets in advance so they can take them without any difficulty when need be. 

You can track assets in real-time as they are moved in and out of the workplace. Every asset detail from its location to who has it can is just a few touches away with itemit. This application reduces the risk of asset theft to a bare minimum and develops a sense of accountability among employees to keep assets in good shape.

Logging, tracking and managing high-value assets like works of art, jewellery, historical artefacts, high-value wines, valuable documents or anything that’s considered precious is another common use of asset tracking. Asset tracking software can be used to securely track and manage your precious collections and keep an eye on insurance details, asset valuations and locations from a mobile app or web portal.

With itemit, you can record important information like insurance details, current valuation, insured value and so on. This way you can have a complete and easy-to-access financial record of your high-value assets safely stored with itemit. So, whenever you need to audit your assets, simply download the asset register pdf report.

What’s more, the location of an asset is updated each time it’s scanned with the itemit app. All in all, High-value asset management is a great way to keep an eye on high-value assets from a single interface.

Businesses today own more than just the brick and mortar assets of the past. The digital revolution has brought about new phenomena such as NFTs (Non-fungible tokens) and Cryptocurrencies. These are considered as digital assets in the modern world, and like all assets, they must be tracked for a range of asset details. 

Unlike physical assets, you won’t be tracking digital assets for their location and maintenance status. But there’s a whole different set of asset details you need to record for digital assets. With itemit, you can review all digital assets from one portal rather than having to go on different platforms.

We all are aware of asset tracking for business and workplace management. But did you know you could also use itemit as a free household inventory app?

You can keep an inventory of collectables like books, antiques or bottles of wine, organise stuff for better storage and also keep track of household items if you’re moving your house.

itemit’s asset tracking software is a flexible system that you can use for a surprisingly wide range of uses. Different businesses can have different applications which results in a unique set of uses and benefits for every business. 

itemit is not just for single-person use. It can be shared by all employees or members of an organisation. This level of shareability means that the system can be split between different departments for different uses and to track different assets.

To find out more ways you can use asset tracking software, you can contact the team at team@itemit.com. You can also 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

Is your company’s asset management program taking up a lot of your time? Are you overwhelmed by trying to keep track of hundreds, if not thousands, of your company’s assets? Are you still tediously working with spreadsheets to record and track your assets? It’s about time you left all that behind and started using asset management software. 

The world is utilising technological advances to make the most out of our time and money in every aspect of life. So, why lag behind on one of the most important components of business management? 

Unfortunately, a massive proportion of businesses still use age-old manual methods for asset management. According to a study, some 43% of small businesses use inefficient asset management methods. Moreover, the National Facilities Management & Technology Conference (NFMT) states that around 80% of employees waste half an hour every day trying to retrieve information from obsolete data stores like spreadsheets and documents. 

Inefficiency and misallocation of employees’ time come to an end when you start using asset management software. This way, an organisation can channel its time and money on the essentials of the business.

An asset management software is a smart solution to record, track and categorise your business assets on a centralised online database. Employees can log into the asset tracking software through a mobile app or web portal to add and update information about assets. 

With this software solution, you can store all kinds of information about assets ranging from their location, value, status, possession, maintenance data and images in a neat way. Moreover, with the option to categorise assets, finding a particular asset becomes a breeze.  

That all asset management data is stored online, authorised personnel can access it from any device and track important details about assets in real-time.

Employing asset management software for your asset tracking needs has plenty of benefits. Plus, different organisations can utilise it differently which leads to a whole new range of advantages specific to each industry.

A businesses’ assets are what enable it to generate revenue, and it wouldn’t be wrong to say that each asset is a cell in a business body. Much like cells are the building blocks of a living organism, assets function similarly as they come and go, multiply, move around and need to be maintained. 

Like the cells of a body are tracked in real-time so they are well-maintained, business assets must also be kept track of. An asset tracking software allows you to track the location, status, downtime and other aspects of each asset. This way, all assets that need maintenance are taken care of in a timely manner. 

Moreover, real-time tracking gives you hands-on control over your company’s asset profile. You can have access to all asset information including the total number of assets, assets in use, assets that are down and the total valuation of your business assets too.

Previously, you might have stored asset data in local databases like spreadsheets, documents or even on paper. That means only a few people who are authorised to access asset data can update asset records, and there’s no space for collaboration. Not only are spreadsheets and other forms of data storage messy and hard to work with, but they also are a liability. 

On the other hand, asset management software is web-based and anyone can access the data, on any device, from any location — given that they are authorised. This allows for seamless collaboration as all employees can add and update asset data whenever needed.

When you use manual data entry methods for asset management, the risk of making a data entry mistake is always there. However, with asset management software you can accurately track all asset data. This enables you to know when an asset is lost, stolen, is due for maintenance or is no longer in use. Ghost and zombie assets busted!

Lags in asset maintenance can have an amplified negative impact on your organisation’s productivity. For instance, if a photocopy machine is due for maintenance and is not fixed in time, it results in a lot of time being wasted. But with asset management software, you can schedule maintenance to minimise asset downtime.

Well-maintained assets survive longer, maximising returns on investment. On the contrary, poorly maintained assets not only make you lose money through decreased productivity but an asset might be permanently damaged if not fixed on time. That means a big blow to your finances if it’s a costly asset. But even losing cheap assets in this way can have a pronounced impact when looked at collectively.

itemit’s asset management software gives you all of these benefits more! With itemit, you can monitor every detail for all your assets, add any type of asset and maintain an efficient asset register. 

Our solutions include a fixed asset register, IT asset management, equipment check-in and checkout and much more. Plus, our assets tags can help you upgrade your organisation’s asset management program’s speed and agility.

To find out about the full range of benefits itemit’s asset management software has to offer for your business, fill in the form below to start your 14-day free trial. You can also contact our team at team@itemit.com if you’ve got any queries.

Instant access. No credit card details required.

or, download the itemit app to get started