Asset management software is used by many businesses all around the globe. This type of software can offer so much to every business, including yours. However, not everyone is aware just how this relatively new technology can help businesses on a day-to-day basis. The good news is that when your software asset register is up and running it could work wonders for you.

This ever-developing technology works by taking control of your assets. In order for it to do this, you need to add all of your assets to the register. As soon as they have been added everything can be tracked. You can see where your assets are 24 hours a day, 7 days a week. You can see who is using your assets and what messages they’ve left on the system. 

Below, you will find an explanation of just some of the additional features that asset management software offers.

Before you can even track your assets you need to add asset tags. Tags such as QR codes, barcodes, or RFID tags can help you to detect where your assets are. Depending on the software asset register you use, you could choose between a range of tags. The most important consideration here is whether the tags can be permanently affixed to your assets. Make sure you opt for a tag that cannot easily be removed. Once a tag is added your assets can be tracked all day, every day.

When you choose to let an asset register take control of your assets, you’re in good hands. Your new software asset register can track the location of your assets for as long as you wish it to. You could constantly be provided with updated information wherever you are. For example, you can see how your sales are performing, the cost of licensing, where your fleet of vehicles is, and so much more.

One of the benefits of using a reliable software asset register is the ability to record vital information. Ideally, you will record a lot of information about each of your assets. This can include the:

• Make and model
• Colour
• Serial number
• Licence information 
• Date of procurement
• Cost
• Estimated value
• Estimated resale value
• Estimated lifespan
• Insurance details 
• Warranty information 
• Photograph for easier identification
• And anything else you wish to add

The more information you add about each asset, the better. Let’s imagine that you have purchased 20 shiny new laptops. A week later you find that 5 of those laptops aren’t working very well. This is where having the warranty information and insurance details to hand can be very useful. You won’t have to sift through a lot of paperwork or emails to find what you need. You can simply log into your software asset register and find that information.

Did you know that you can send reminders and set up notifications? Depending on the asset register that you use, these features may be available. Imagine being able to set up reminders so that your shiny new laptops are inspected and repaired (if necessary) once a year. Your machinery could be looked after in this way, so too could your vehicles and anything else you own. 

There may also be a possibility for you to receive notifications when reminders are due. You could, for example, receive them a week or a few days before a reminder is due. You could receive notifications about meetings, deliveries, sales, and anything else that’s relevant. The choice is yours.

Tracking an asset’s history is one of the best advantages of using a software asset register. Whether you’re only tracking your software, your fixed assets, or every asset, you can view the asset’s history. As long as the asset in question has been added to the register you can track its history. You can see who has and is using it, when it was purchased, how many times it’s been repaired, and so much more. When you can track its history, an asset automatically becomes more valuable. If this is not enough, it also ensures that you have access to a lot of data. You could create a lot of data without even realising it. As any business owner knows, these days, data is king. Depending on the asset register that you choose, you could export that data so it’s readable. A result of this means that you could gain access to a lot of useful data. The data could show you how your business is really performing, allowing you to take it to a new level, should you wish to. 

Wish to chat with a software asset register expert about harnessing the power of asset management software? Talk to us now at team@itemit.com.

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You want your business to succeed, that goes without saying. However, many business owners don’t just want their business to succeed, they want it to thrive. If this is something that you identify with, you need to use a fixed asset register. A register such as this can make life so much easier. It can ensure that your assets are more likely to last longer and they’re more likely to be found. Additionally, your business is much more likely to thrive if you track your fixed (and your non-fixed) assets.

A fixed asset is typically anything that is of value to your business that you would own for at least one year. This includes machinery, buildings, IT infrastructure, and land. However, they can also include anything that you use every day such as chairs and desks. However, the inventory that you sell or manufacture is not considered to be fixed assets. As a result, these items will not be included in your fixed asset register.

These days, most businesses are reliant on a range of technology. As a result, tracking assets via an app or an online portal is becoming more important. The benefits of such technology are clearer than ever, however, some of them can be found below. If you’re not yet sure whether you’d like to use a fixed asset register or why, this section should answer some of your questions.

A very clear benefit of tracking your fixed assets is that you could have a better understanding of your business. Seeing how it’s performing can only help you. Your fixed asset register does this by saving the data each time an asset is tracked or someone logs into the system. Upon logging into the system, a user is likely to perform a range of tasks. These tasks will be recorded as data and that data can be exported. While not all asset tracking software offers you the chance to export data, some software does. As a result, users can print the data off or simply read it on-screen. Whatever the case may be, it’s usually possible to see how well their business is performing, and in a whole new way. Consequently, businesses can be taken to a new level, change direction, or simply continue along the right path.

One of the clear benefits of using a fixed asset register is that it allows you to track your asset’s location. You may wonder why a fixed asset needs to have its location tracked as, after all, it’s in a fixed place. However, this feature can still prove to be very useful. Let’s imagine that you have quite a few buildings. The roof of one of your buildings has started to leak. When you take a look at the map, you can see exactly where this building is. You could also see which non-fixed assets are in danger of becoming damaged. 

Now let’s imagine that you need to use a specific machine in your factory. However, you’re not sure exactly where that machine is. Logging into your asset register app or online portal can show you where that machine is. Therefore, you’re a lot less likely to spend time searching for the machine. Consequently, you can use the machine when required and you can meet or even beat your deadlines. 

Take another look at the images in this article. They depict how fixed asset tracking looks in a parallel universe. That parallel universe has the technology to make tracking fixed assets a breeze. Now it’s your turn to use it and reap the benefits. 

Would you like to speak with someone knowledgeable about using a fixed asset register? Contact us now at team@itemit.com.

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As you are no doubt aware, financial reporting and audit compliance need to be undertaken accurately. This can be tricky at times depending on your figures, the work that you do, and the software that you use. The good news is that when you use the right IT inventory software the whole reporting process can be made easier. In fact, the right inventory/tracking software can ensure your reporting is much more accurate. 

If you have never used this type of software, don’t worry. It’s usually easy to use and it can make a difference to many aspects of your business. Simply add all of your assets to the software. Then, ensure a barcode is attached to each asset for location detection purposes.

So, you’ve decided to use IT inventory software to help with the whole auditing process. This is a very smart move as it can both save you time and a lot of frustration. Once you have added all of your assets to the software you need to make sure you’ve verified everything. It would make sense for you to double check that you haven’t missed a single asset. Go around your buildings and make sure every single asset you own has been added to the software. Once you have, your reporting and audit compliance are much more likely to be accurate. 

Some of the latest tracking software out there will allow you to export reports. These reports will be based on the data that your tracking software has created. As a result, you’re left with reports that are accurate. You also have a much better idea of how your business is doing. The data will be there for you in black and white.

As soon as you have managed to double check your assets it’s time to move on to the next step. This step involves calculating any asset depreciation. This is a very important step simply because every asset you own will depreciate. Depreciation is perfectly normal and it’s something that you need to be aware of. When you calculate depreciation you can use the straight-line method, Written Down Value, or any other method you wish. The most important thing that you do is to calculate the depreciation correctly. 

As you’re calculating how much your assets have decreased in value you could add the figures to your IT inventory software. Doing so can help you to refer back to this information at a later date. 

The third step in the financial reporting and audit compliance process involves valuing your assets. You should have an idea of how much your assets are worth. Calculating the depreciation could help you figure this out. As soon as you have the figures you need you’ll have a good idea about how your business is doing. With luck, your business is running as you wish, or slightly better than expected. In any case, it’s time for you to start reporting everything. Be aware that there are some regulatory requirements that you need to adhere to. If you find that you have not worked with these requirements in mind, make the necessary changes. This will allow you to report accurate figures. 

Your new IT inventory software can potentially help you with this part of the process. If, when you worked out the value of your assets you added the information to the software, you’re good to go. All of that useful information will be there for you to use when confirming your valuation. You may not have to log into the software and access every single asset to see its value. You could export a report so the details are right in front of you. Imagine how much easier this could be. You could quickly export a report or two to your chosen device. You could send the report to your computer, phone, tablet, or your desktop computer. You could print the report out and see the figures for yourself. All of these options could help you to confirm the valuation and ensure you’re adhering to regulatory requirements. 

As you can see, it’s possible to accurately report your finances and have audit compliance when you use IT inventory software. Log in online or download an app and make use of the software. The financial reporting process can sometimes be difficult. Throw in audit compliance and it’s enough to make you sigh heavily. However, with the right type of software, the process can be a much easier one. 

Wish to chat with an expert about how IT inventory software can help with your financial reporting and compliance? Contact us now at team@itemit.com.

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If you work in a school you will know how hard it is to keep track of everything. From stationery to laptops, textbooks to furniture, knowing where your assets are can seem impossible. Perhaps you have a log book that shows who has checked out what equipment. This logbook may even show where the equipment has been taken. However, it won’t show its exact location. 

Tracking everything can seem impossible and it’s likely that from time to time, assets go missing. Not only can this be frustrating but it can also be expensive. The good news is that when you use some asset tracking software, you can have complete peace of mind.

Tracking your assets using an app is something well worth considering. Depending on the app you choose, you could see where your assets are at all times. To do this, you may need to attach a barcode or RFID tag to your assets. When scanned, the code or tag will bring up a digital profile. This profile can be filled with information about the asset. As soon as you have scanned the code or tag for the first time you can start to track the asset’s location. This feature is invaluable.

Ultimately, you can track just about anything. You could track your textbooks, lab equipment, printers, E-readers, first aid equipment, bathroom supplies, stationery supplies, chairs, tablets, cafeteria supplies and equipment, smart boards, and so much more. 

If you want to track all of your assets, you can. If you only want to track a few, such as your most expensive assets, you can. The choice is yours. However, the more assets you track, the better. This is simply because it’s very likely you’ll see the benefits that come with tracking your assets.

The world of asset tracking can offer you more than you think. For example, you could set up the check-in- and check-out feature. It’s this feature that can help you to keep a really close eye on some of your assets. 

Let’s imagine that you have 30 really expensive textbooks. You want the textbooks to be safe at all times, but you know they need to spend time in a classroom. So, in addition to attaching an RFID tag to them, you could also ensure they’re always checked in and out. This is a feature that’s easy to implement and it’s also one that shows you exactly who has what. You can ask each teacher to check them in and out or even each student. This will ensure that everyone is accountable for those textbooks.

Assigning assets to teachers is another useful tracking feature. It allows you to see which departments are using which assets. It also helps you to understand which departments use particular assets more often than others. This data could prove to be useful if you want to build a clear picture of what each department needs.

Health and safety in schools is so important and here is where some asset tracking software can help. Thanks to the way that the software works, you can make sure that safety standards are met. You can even potentially prevent issues from arising such as boilers overheating. You could, for example, set up a maintenance schedule so that the boiler is checked out every so often. You could also set up a schedule for every asset your school has. This can ensure that your equipment, computers, vehicles, and anything else is in good working order. As a result, you could spend less on repairs and replacing damaged assets.

So you now understand some of the benefits associated with using asset tracking software. Now it’s time for you to create your asset register. Don’t worry, this part is relatively easy. Remember earlier on when we looked at adding a barcode or an RFID tag to assets? When you affix a code and scan it, you automatically create that all-important digital profile for an asset. This is the beginning of your register. The more digital profiles you create the larger your register will be. 

As long as you add your most important assets to your register, you’re good to go. However, the more assets you add, the more benefits you’ll reap from the software. This is why it makes sense for you to add every single asset. While this may undoubtedly take time, it’s absolutely worth it. Imagine being able to track and instantly locate your assets at the touch of a button. It’s very satisfying and it brings peace of mind. That, in itself, is priceless. 

Would you like to speak with someone knowledgeable about asset tracking for schools? Contact us now at team@itemit.com.

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Keeping your customers happy should be your priority. It does not matter what industry you work in or where your customers should be at the forefront of all that you do. Unfortunately, it can be hard to keep everyone happy all of the time. Customers can be demanding but, at the end of the day, your business exists for and because of them. So, no matter what you think of your customers, keeping them happy is paramount. 

Did you know that when you use an equipment tracking system to its advantage you can keep your customers happy? Here’s how:

Let’s imagine you’ve just manufactured, purchased, or repaired a product and it’s time to deliver it. When you use an equipment tracking system you can show your customers the status of the delivery. For example, you could share some tracking information with them so they’re aware of what’s happening. Even in this day and age, some businesses still fail to update their customers. This is never a good thing as it means everyone is kept waiting. However, when you share tracking information, customers can see where their goods are. As a result, they are more likely to be happy with your service.

Have you just repaired something that belongs to a customer? Do they know the status of the repair? Perhaps you could use a reliable equipment tracking system that updates them. You could, for example, affix a QR code to the product or its packaging. The QR code can be checked in and out of each department. For example, once the product has been received by you it could be marked as “Received”. Then, the product could be added to the repair queue, examined, repaired, awaiting delivery, and sent out for delivery. If and when your customers know what’s happening every step of the way they are more likely to be happy.

Some customers entrust companies to repair their products and they expect a first class service. Unfortunately, this is not always something that they receive. The customer could send their radio, for example, for repair and fail to hear a word until it’s arrived back at their home. This is not very good customer service unless the repair has taken less than a week. Ensuring that your customers know where their radios are by sharing screenshots of the tracking updates can help.

It’s fair to say that customers love to be updated. Whether they have purchased something shiny or they’re returning a product for a refund, updates are always good. Many businesses send occasional emails to customers regarding their products. However, the emails received could be few and far between. What would be good is if customers received an email every time the status of their product was updated. For example, someone from your quality control team could check a box each time a radio was manufactured or repaired. Upon the box being checked, a screenshot of the radio’s status could be sent to the customer. Alternatively, an email could automatically be generated. Once the radio has been sent out for delivery, a screenshot or an email could be generated. 

As long as everyone is kept up to date, they’re more likely to be happy. Customers can no longer be kept in the dark and be expected to be happy. These days, they expect so much more. The good news is that when you use a modern and reliable equipment tracking system you can offer them so much more.

As you can no doubt see, communication with your customers is key. And using an equipment tracking system can help with this. A system such as this could help you to keep everyone happy with little effort from you. There’s no reason why you could not craft a nice and friendly message to send to your customers along with your screenshots or emails. While the messages you send may not be particularly personalised, an update is an update. 

Consider using an equipment tracking system to help you keep your customers happy. They could see when products are once again in stock. You could show whether you’re waiting for some spare parts or if their order has reached the production line. While some customers may be happy with a little communication, others will only ever be happy with a lot. So, make sure you do what you can to keep everyone happy and offer your customers the chance to decide how much communication they’d like. Once they’ve decided you can offer them a service they’ll be happy with. 

Would you like to speak with an equipment tracking system expert so you can keep your customers happy? Contact us now at team@itemit.com.

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