Your assets are some of the most valuable parts of your business. They quite literally keep the lights on. Taking care of your assets means taking care of your business. That’s why it’s important to have a structured, effective asset maintenance management plan in place. Discover our top tips for great asset maintenance management. 

Effective asset maintenance prolongs the lifespan, enhances the performance and of your assets. For machinery, this means fewer breakdowns and less subsequent repairs. For an office space, this means a clean and comfortable workplace where your team can be their most productive. Performing asset maintenance means keeping your asset in great working condition and ensuring their repairs and replacements are up to date. Good asset maintenance management translates into a smooth-running and efficient workflow, ensuring your organisation is functioning at its best and most cost-effective!

It’s essential to create a database or register of your assets so you can store all the necessary information associated with them in one centralised place. You can use the database to add relevant documentation such as user manuals and insert descriptions of your assets so your employees or clients can view associated data after each scan. Plus, with asset tracking software, every time you scan an asset its record of location will be automatically updated.

With asset tracking you can stay informed about asset behaviour and gain analytics throughout the lifecycle of your assets. Collecting data on your assets will enable you to make informed decisions that can lead to cost savings and improved performance with smarter maintenance schedules. 

Preventive maintenance is more effective than reactive maintenance. Understanding an asset’s lifestyle will enable a maintenance team to perform preventive maintenance at critical points in the cycle that can expand or enhance the asset’s useful life. Tracking the lifecycle will also help you plan and prepare for an asset’s eventual breakdown and the get funds together for its eventual replacement.

During the operational phase of an asset’s life cycle, it is important for organisations to keep up-to-date on asset maintenance. However, often organisations can be reluctant to do so. Maintenance is a business expense that can cut into profits. Overdoing it can bring significant costs. On the other hand, under-maintenance can lead to reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime, which ultimately increases productivity and keeps costs down. Plus, users can set up maintenance schedules in advance and be notified when routine repairs are due.

In order to implement asset tracking and preventive maintenance schedules as strategies for successful asset maintenance, you need to invest in your team and the technology to support them.

Investing in your technicians will ensure the maintenance work is properly performed and recorded. Every facility leader can agree that great training leads to well-prepared staff, but training runs deeper than just knowing how to perform maintenance. For successful maintenance operations, proper training also means ensuring your team has (and understands how to use) the technology in place to best do their jobs.

Effective inventory  tracking underpins the success of any business. There is nothing more frustrating than starting a project just to realise you don’t have the necessary parts needed to complete the job. An effective inventory tracking system ensures you rarely face this type of setback when performing asset maintenance.

 Implementing inventory management software will ensure you’re able to effectively manage your assets. The software will automatically reduce inventory when maintenance projects occur that require certain parts and keep track of stock levels.

itemit’s cloud-based and user-friendly asset management software is the tool you need to optimise your operations. Good asset maintenance management will allow for better planning, more accurate forecasting, and protect your business from spiraling costs. Developing, operating, maintaining, and repairing assets in a cost-effective manner will ensure your business is functioning at its best. With up-to-date online profiles of your assets your business can drastically extend the lifespan of its assets and maximise the return on investment. 

If you would like to learn more about itemit’s asset management software, contact our friendly and helpful team today. You can reach them at team@itemit.com. You can also sign up for our 14-day Free Trial by filling in the form below.

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or, download the itemit app to get started

In this guide:

1. The Benefits of Asset Tracking Software for Media Production Companies
2. Streamlined operations
3. Improved inventory management
4. Reduced costs
5. More secure bookings and rentals
6. itemit’s Asset Tracking Software

A huge number of assets go into media production. From keeping track of all your lights, mics, booms, tripods, light reflectors and anything else you need. This amounts to a big investment and, like with any investment, you need to look after it. It can be easy to lose track of things as they move around sets and are taken off to various locations. This poses a challenge to ensuring the longevity of your equipment.

Using spreadsheets is usually the first go-to option for managing assets but this manual process can quickly become long and laborious. As your production grows, so do the number of assets, meaning more data and more moving parts to track and manage. Spreadsheets can become your system’s downfall since they are difficult to share with others, lack smart features, and are susceptible to errors. With itemit’s asset tracking software you can ensure your assets are where they need to be and with the right people, taking the headache out of asset tracking. When your team checks assets in and out the asset manager is automatically notified. Every time an asset is tracked, entered into the system, checked out, or repaired, data is collected.

Good inventory management is critical to the success of any operation and media productions are no different. Asset tracking software can improve your inventory management by informing you of what equipment you have, where it is, and who it has been assigned to. For example, if somebody requires multiple pieces of kit, you can bulk check them out with itemit’s equipment checkout system, then bulk move their locations to indicate that they’re with that company. Then, you’ll be able to run a report on the equipment that is on the move to the location and export it as a pdf, giving you a register of the equipment your client needs to sign for.

All of the data you collect will be pulled into a fixed asset register, providing you with an accurate and up-to-date record of your assets. This offers greater control and visibility of the financial data related to your assets. With itemit the process of creating fixed asset registers is simple. You can view, filter, manage, and export reports with ease, giving you a clear view on what you own and how the assets are behaving. A clean register will allow you to completely streamline your insurance and tax operations, allowing for clearer expense and more transparent insurance applications.

Asset tracking software covers your back by ensuring you are compliant with your insurance. If you know where your assets are at all times then there is less associated risk, resulting in simpler invoicing and lower premiums for you. With itemit you can even set reminders for expired licences and insurance payments.

Asset tracking software provides a digital, centralised system that allows your team to track important details about each asset in real time. With asset tracking software you can keep track of all your lights, mics, booms, tripods, light reflectors and anything else you need. All the necessary information for each piece of equipment, who it’s assigned to, what project it’s on, are safely stored in an asset register. Asset tracking software will save your production time and money so you have everything you need to create the next blockbuster. 

If you’d like to find out more information please contact the team at team@itemit.com or you can get started straight away and try the 14-day free trial by filling out the form below!

Instant access. No credit card details required.

or, download the itemit app to get started

In this guide:

1. What Is An Asset Register?
2. The Benefits of an Asset Register
3. Accurate financial reports
4. Estimating maintenance and repair costs
5. Eliminate ghost assets
6. itemit’s Asset Register Solutions

Too many businesses are still relying on spreadsheets to count their assets or, even worse, don’t keep track of them at all. Assets are at the core of any business, they keep things moving and, often quite literally, keep the lights on. So it’s about time businesses started to track, monitor and appreciate the value that their assets bring. The answer to how to do this is simple: keep and maintain an asset register. Asset registers can make a big difference to how a business operates by streamlining their financial auditing, maintenance processes and ensuring a business knows what it truly owns.

An asset register is simply a detailed list of assets that a business or organisation owns. It includes details on assets such as location, condition, and owner. Asset registers are an incredibly useful tool for representing a business’s investments and provide information on the most important features of your assets.  

Your asset register should contain specific asset data such as:

• What is the asset
• Asset status
• The exact location of each asset
• Procurement details including purchase date and price
• Estimated life expectancy
• Depreciation value
• Insurance and compliance details
• Maintenance history including repairs and downtime

Asset registers lay the foundations for a smooth and robust business. Discover all the benefits an register could bring to your business:

You can’t expect to produce accurate financial reports for your business without an up-to-date asset register. Maintaining an asset register means you can always follow a clear audit trail and obtain accurate financial reports. With online asset registers your business will be able to identify bottlenecks, make more informed decisions, improve delivery and generate reports at the click of a button. Updating your asset register is simple, you can easily log dates that assets have been purchased, inspected, and checked in or out by staff. 

With itemit you can view your entire asset register in one place and pull all the information together into customisable and exportable reports, helping you to pass those financial audits with flying colours.

You can utilise an asset register to estimate maintenance and repair costs of your assets. During the operational phase of an asset’s life cycle, it is important to keep on top of asset maintenance. Asset registers can help to evaluate when and how much so you don’t risk overdoing, and increasing costs down-the line, or under-doing it resulting in reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime and calculate depreciation, which ultimately increases productivity and keeps costs to a minimum.

It’s important that a business knows what it actually owns. If an asset register is haunted by a number of ghost assets then this can have a significant effect on financial assessments. Ghost assets can mislead companies to either over or undervalue their set of assets. This can result in overpaying taxes, higher insurance premiums, inaccurate fixed asset reporting, and an inability to forecast accurately. All of this can affect regulatory compliance and place companies in a jeopardous position. 

Ghost assets also limit the productivity of a company. If your team believes an asset exists when it doesn’t then this can create operational bottlenecks. Alternatively, if an asset does exist but is out of action due disrepair then this can create delays and potentially increased expenses.

itemit offers a simple solution to your asset tracking needs, with a fully-equipped suite of helpful features from a centralised dashboard to  check-in and check-out functionality, you can set up your own asset register in just a few clicks. An asset register provides your business with information it needs to ensure a healthy and productive operation. 

To find out more about itemit’s asset register solutions and how they can help you contact our team at team@itemit.com today. 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