The Importance Of Keeping An Accurate Asset Register

The Importance Of Keeping An Accurate Asset Register

The Importance Of Keeping An Accurate Asset Register

Having an accurate asset register is of huge importance. When your register is accurate it allows you to understand how your business is performing. 

It also allows you to see which areas of your business are performing well and which areas are a little behind. As a result, you can potentially improve those areas that are less than perfect. However, you’ll only be able to do this if you use an asset register app or software that you can rely on. 

Before we even look at asset-related software, etc. we need to take a closer look at how important it is to keep an accurate asset register. Read on for more information about this subject.

What An Asset Register Is

An asset register is a physical or digital document that contains the details of a business’s assets. Having a list of assets allows a business no matter its size the ability to have more control over them. A register such as this also allows managers to see what assets they have. 

Some businesses opt to use a spreadsheet as a register, others use an asset register app or an online portal. Digital registers seem to be the more secure and more accurate option as they leave less room for error.

Business Asset Tracking

What Type Of Asset Register Allows For More Accuracy?

As we have already seen, there are a few different kinds of asset registers. However, it’s not always clear which type allows for more accuracy. A spreadsheet can be perfectly reasonable to use if your business has few assets. However, there is usually a risk of errors, as we have already seen. 

An asset register app can also be ideal. An app may only give you the information you require if you have access to the internet. If your phone has no signal, you may have difficulty getting the details you need. 

An online portal seems to be a good option. It’s likely that if you’re sitting at a computer in your office, for example, that you will have access to the internet. Therefore, you can gain access to your register. As a result, you can easily retrieve the latest information about all of your tools and equipment. When you combine the use of an online portal with an asset register app, your register can be even more accurate. As long as the online portal and the app talk to each other you are onto a winner. 

In terms of software and its accuracy, it depends on what you are looking for. There are many different companies out there that offer asset register software. You simply have to sift through them all to find one that suits you. A good way to do this is to think about what you want from your register. When you know what you want, you can search for a company that offers you exactly what you need and more.

How To Keep Your Register Accurate

Keeping your register accurate is important. The more accurate it is, the more you’ll understand about your business’s performance. The best way for you to keep your asset register app or online portal accurate is by:

  • Adding all of your assets to your register
  • Add as much detail about everything as you can
  • Allowing users to update the register when it’s required 
  • Setting up a maintenance schedule
  • Allowing users to ask for assets to be repaired as and when it’s required
  • Letting your team members check equipment, etc. in and out 
  • Ensuring you add a barcode to your assets so they can be tracked 
  • Organising everything into collections so they’re easy to find 
  • Using an asset register app that allows you to create and export reports 
  • Making use of any quick add functions 
  • Being prepared to track everything, even fixed assets
  • Making use of both online portals and apps where available
  • Using image recognition software 
  • Allowing for issue reporting and management 

While this may seem like a lot of work, you can usually find software and/or apps that offer some or all of the above. In fact, the more features you’re offered, the better. They can make sure that your register is accurate and you can track your assets with ease. 

When your register is accurate you can use it to help you to improve your business. You can potentially see where you have sufficient equipment and where you need more. You can see which areas are doing well and where you need to concentrate your efforts. As a result, there’s a real potential for you to increase your bottom line.

If you would like to speak to an expert about keeping your asset register app accurate, talk to us. You can reach us now at: team@itemit.com. We’re here to help.

The Ideal Way to Keep An Accurate 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

Related articles

Improving Equipment Efficiency Through Better Management

Improving Equipment Efficiency Through Better Management

Improving Equipment Efficiency Through Better Management

Regardless of what type of equipment you use, it’s likely to be vital to your business. However, having equipment efficiency can be difficult. The good news is that with better management, efficiency levels can improve. Read on for some great equipment tracking tips that can help you to get the most out of your vital and often valuable equipment.

What Equipment Efficiency Is

Equipment efficiency begins with equipment tracking. This is a method that many businesses use to help them to keep a clear record of the equipment they own. It is also a very useful way to ensure they know who has each piece of equipment and what condition it is in. Additionally, equipment can be automatically tracked. This is as long as a tag or a barcode has been affixed. 

The type of equipment that can be tracked includes:

  • Computers
  • Printers 
  • Modems
  • Laptops
  • Tablets
  • Photocopiers
  • Safety equipment
  • And anything else that needs to be tracked 

Using a dashboard, users can quickly and easily view the status of their equipment. They can also view who it has been assigned to, and what the maintenance status of the equipment is. This can be very useful as it means that equipment efficiency can be improved immensely.

Business Asset Tracking

How To Further Improve Equipment Efficiency

There are a number of ways that you can improve equipment efficiency even more. Below, we take a look at a few of the most effective ways for you to do this so your business benefits.

Create An Equipment Inventory

One of the very first things that you need to do is to create an equipment inventory. Also known as an “asset inventory”, a list of all of your machinery, etc. can be in one place. Forget those spreadsheets that may be full of errors. Put those paper lists to one side. You need a digital inventory that takes equipment tracking and efficiency to the next level. 

When you use some equipment tracking software, you and your team can have more control over everything. However, the very first step in this process is to affix a barcode to your tools and scan the code. Once you have, a digital profile will automatically be created, allowing you to store as much information about your equipment as you please. 

You can add anything you please to your inventory. In fact, the more equipment that you add, the better. Ideally, you will add every machine, computer, vehicle, tool, and tablet that your business owns. While this may seem like a difficult task, it’s worth the time and effort. 

One of the best ways to begin is by starting in one room or office and moving on to the next. This ensures that you’re less likely to miss anything. Alternatively, you could start by adding your most valuable and/or important tools, etc. first. The choice is ultimately yours.  However, adding everything to your inventory ensures you have improved equipment efficiency.

Begin Tracking Your Equipment

Improving equipment efficiency through better management is only possible when you track your equipment. We have already seen that you can create an inventory to help you to improve efficiency. The step you need to take is to begin tracking everything

As soon as a barcode has been affixed and a digital profile has been created, you can track the location of your laptops, for example. You can potentially see where each and every piece of equipment is at all times. This is one of the most effective and most important aspects of equipment tracking. It adds additional layers of security to your laptops and the tracking process can be wholly convenient. For example, you can see whether Delivery Van A has arrived at its destination. As long as Delivery Van A has a barcode affixed, it can be tracked. In fact, all of your equipment can be tracked.

Schedule Maintenance

Another vital part of improving equipment efficiency involves maintenance. If you would like your equipment to be more efficient it needs to be in good working order. As a result, you and your maintenance team need to ensure that you stick to the maintenance schedule.

Sticking to the maintenance schedule is entirely possible if you use equipment tracking software. You can set a unique schedule for all of your computers, printers, etc. From monthly to quarterly, to every six months, or every year, etc. you can set a schedule that’s appropriate. Once a maintenance schedule has been set, you will receive an alert when maintenance is due. 

Additionally, you can ask the maintenance team to repair a piece of equipment should something go wrong. As a result, your equipment can be in much better condition all of the time. It’s this that can help with equipment efficiency through better management.

Want to learn more about equipment tracking and efficiency through better management? Call us today at: team@itemit.com.

The Best Way To Achieve Equipment Efficiency

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

Related articles

Ask An Expert – What Should I Include On An IT Asset Register?

Ask An Expert – What Should I Include On An IT Asset Register?

Ask An Expert – What Should I Include On An IT Asset Register?

If you’re planning to use an IT asset register, congratulations, you are about to take full control of your IT assets. While this may not seem like a huge deal right now, you’ll soon see just how valuable an IT asset register is to your business. 

This type of asset register can help you to have a lot more control over some of the most valuable assets that you own. But what should you include in a register such as this? This is exactly what we cover in this article.

What Exactly Is An IT Asset Register?

An asset register that specifically pertains to your IT assets consists of a list of your business’s IT equipment. In other words, all of your computers, laptops, printers, and anything else you consider to be “IT”. The list can then be used to help you track your IT assets and help you to understand whether licences are up to date. 

An IT asset register can come in the form of a spreadsheet, a list in a book, or some software. The latter tends to be the better option to choose. This is because software is a lot less likely to make a mistake. In addition to this, the software can continuously update and help to create a lot of useful data.

Business Asset Tracking

What To Include In An IT Asset Register

Knowing what to include in an asset register can be difficult. However, when you narrow it down to just your IT equipment for now, you make life a little easier. You can add the following to your register, should you wish to:

  • Desktop computers
  • Printers
  • Modems 
  • Wires, leads, and cables
  • Laptops and laptop cases
  • Spare laptop batteries and cables
  • Tablets and charges
  • Tablet cases
  • Tablet screen protectors
  • Spare tablet chargers
  • Photocopiers
  • Monitors
  • Software licences
  • Memory sticks
  • And any other IT equipment 

There is a real potential for you to add a lot of equipment to your asset register. As a result, you may find it easier to group a lot of the equipment into collections. For example, anything that relates to your desktop computers could be placed in one collection. Your software licences, for example, could be placed in another. This ensures that when you want to find a particular computer monitor, for example, you can locate it easily.

Making Use Of Asset Tags

The best way for you to track your IT assets and any other assets is for you to use asset tags. Tags such as these will enable you to monitor each asset’s location. In addition to this, they can also help you to quickly edit information about each asset. If, for example, you wish to find out when a printer was purchased you can access that particular printer’s profile. You can do this by scanning the tag. When the tag is scanned it will open up the printer’s profile. As long as the date of purchase has been added to the printer’s profile, you can access the information.

Adding Information To Each Asset’s Profile

We have just briefly touched on accessing information regarding a particular asset. What we have not yet discussed is how that information has been added to a profile. Let’s take a look at this now. 

When you affix a tag to an asset, scanning the tag will create a digital profile. You can then assign the digital profile to the asset in question. It is then possible for you to add information about each IT asset. You can add information such as the asset’s:

  • Model, brand, and serial number
  • Date of purchase
  • Price at purchase
  • Estimated lifespan
  • Warranty and insurance details
  • Instruction booklet or manual
  • Software licence information
  • Date of licence renewal/expiry
  • Maintenance schedule and status
  • Usual location(s)
  • List of past and current users
  • Latest photograph for easy identification 
  • Collections that it is located in 
  • Notes that have been left for future users
  • And so much more

You can add as much information as you wish to your IT asset register. In fact, the more information you add, the better. The more information there is about each asset, the easier it is for you to find exactly what you’re looking for. If you want to read an asset’s insurance details you can simply log into the software and take a look. You won’t have to search through a lot of paper files hoping that you have not accidentally disposed of the information. Rather, you can access it when you need to and save a lot of time and worry.

Would you like to speak with an expert about an IT asset register? Contact us now at team@itemit.com. We can help you to understand how to have more control over your most valuable assets.

The Best IT Asset Register Software

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

Related articles

Fixed Asset Register: The Benefits Of Automating Small Business Processes

Fixed Asset Register: The Benefits Of Automating Small Business Processes

Fixed Asset Register: The Benefits Of Automating Small Business Processes

If you run a small business it’s likely that you will do what you can to automate a lot of processes. When you’re able to make some tasks easier for yourself you can get on with more important tasks. 

Automation is becoming increasingly popular as more and more businesses of all sizes realise just how beneficial it is. Perhaps this is something that you too could use so your small business benefits from all that automation has to offer.

What Is Automation?

Automation basically involves using technology to undertake a range of tasks. These are tasks that a human would traditionally undertake. Small tasks may not seem very important on their own. However,  when they’re combined with other minor tasks they can make a huge difference for a small business. 

No matter how large or small a business is, it’s likely to have numerous assets. To keep better control of assets, many businesses have a fixed asset register. Some businesses still use a spreadsheet, however, others use software. Software can automate many small processes that can ultimately help a business to run more productively.  

These small processes can include:

  • Team members checking assets in and out 
  • Tracking assets 
  • Issue reporting and management 
  • Bulk action updates
  • Exporting reports that have been created 
  • And so much more

When processes such as these are automated they can benefit small businesses in a variety of ways. Below, we will take a look at just some of the benefits associated with this.

Business Asset Tracking

The Benefits of Automating Small Business Processes

Some of the benefits of automating small business processes include:

Saving Time

When you rely on more automation you save time without realising it. This is because you will no longer need to tick those boxes or undertake many very small tasks. For example, you will no longer need to make sure you know which team members have which tablets. All of this will be automated thanks to the fixed asset register software you now use. 

Many other aspects of your small business can be automated so that you can save even more time. The more tasks you automate the more time you can save.

Improving Productivity

When you no longer have to spend as much time filling in paperwork, productivity can be improved. You can get on and complete much more important tasks while those smaller tasks are taken care of. As a result, you can spend more time concentrating on those all-important tasks as can your team.

Reducing Human Errors

Many small businesses still rely on a spreadsheet to tell them what assets they have and what condition they are in. However, when you use fixed asset register software that’s reliable you can say “Goodbye” to human errors.

While we try not to make mistakes, we humans are fallible. However, automation is not. Automated software will do exactly what it is told to do. There is no room for error. This ultimately means that your business will have more accurate data all day, every day.

Increasing The Bottom Line

When you use reliable fixed asset register software that provides you with more accurate data you can increase the bottom line. It may be clear to see where your small business needs to make improvements. It may also be clear to see where your business is doing well. When you know where you’re doing well you can potentially do even better.

Improving The Lifespan Of Your Assets

Were you aware that you can improve the lifespan of your assets? You can do this by setting maintenance alerts. In addition to this, you can also leave a note for the maintenance team stating what is wrong. The maintenance team can then prepare to repair the damaged laptop, for example. When equipment is repaired as and when it needs to be and when it’s checked over regularly its lifespan improves. More care is taken of each asset which means you can spend less money replacing them. This is all thanks to the automation processes that have been made available to you.

Ensuring All Software Is Up To Date

It’s vital that you only ever use software that is up to date. When you automate small business processes you help to keep software up to date. This is because you can set reminders so that you know exactly when you need to update your software. As a result, security can be improved on all of your desktop computers, laptops, and tablets. 

Setting up a reminder can be very simple and a notification can tell you which computer, for example, needs a software update. Don’t wait to learn that your software is out of date. Do something before an issue arises.

Would you like to learn more about automation and how it benefits your fixed asset register along with your business? Talk to us today. You can reach us now at team@itemit.com. We look forward to talking with you.

The Best Way to Automate Small Business Processes

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

Related articles

What Are The Equipment Management Best Practices?

What Are The Equipment Management Best Practices?

What Are The Equipment Management Best Practices?

Managing office equipment is never easy. There could be a lot more equipment in an office than you may realise. As a result, managing the equipment could become difficult. The good news is that it is possible for you to take the hard work out of managing office equipment. You simply need to use the tips found below as they can make your life easier.

Understand What Equipment Tracking Is

Before you even think about managing your office equipment, you need to understand what equipment tracking is. Only when you understand this concept can you really make use of all that it has to offer. When you track equipment you ultimately keep a record of everything that your business owns. You do this by creating an asset register and populating it. The next step is to track those assets so you can see who has what and where assets are located. 

The equipment that you track can vary from stationery to computers, furniture, appliances, printers and photocopiers, safety equipment and tablets. Ideally, you will track every single piece of equipment that has some value to your business. Managing office equipment in this way can make your day-to-day life easier.

Business Asset Tracking

Populate Your Asset Register

The next step is for you to populate your asset register. This involves attaching a barcode to your equipment and scanning the code. A digital profile will then be created in your chosen tracking software. The digital profile can contain as much or as little information about each asset as you wish. It’s this that can help to make managing office equipment easier than you think.

Did you know that the barcode you have attached to your assets and scanned allows you to track each asset? You can see where each of your assets are at all times. This ensures that retrieving the assets when you need them is relatively simple. In addition to this, it also means that you’re less likely to lose things.

Monitor Your Office Equipment

We have already seen that you can track your office equipment. However, you can also monitor a lot of different information about each asset. For example, you can monitor:

  • Which team member is using your assets
  • Which team members previously used your assets 
  • How many times each asset has been used 
  • The value of each asset
  • Which collection your office printers are in, for example
  • Whether there are any issues with each asset
  • And so much more

It really is possible for you to monitor your office equipment in a variety of ways. Did you know that you can also create and export reports? You can create data that you may not have been able to create otherwise. This data is automatically created each time someone uses one of your assets. Once a report has been created and exported, it is possible for you to understand your business in new ways. As a result, you can potentially see where your business is thriving, and which areas need improvement.

Schedule Equipment Maintenance

You can be the best in the world at managing office equipment. However, you won’t be able to stop it from breaking down, being dropped, or having other issues. The good news is that with the right tracking software, you can schedule equipment maintenance. 

There’s a lot of tracking software out there that will allow you to schedule maintenance at regular intervals for each of your assets. This ensures that they are likely to be taken care of at your desired intervals. However, this is not all that is offered. Some software even lets you alert the maintenance team when a computer, for example, stops working. When the maintenance team is alerted via a message, they can book the computer in for repair. As a result, the computer is likely to be fixed ASAP. 

This can only be a good thing as it means all of your office equipment is much more likely to be in better condition than it previously was. Whenever there is a problem with one of your assets it can be resolved quickly. This ultimately means that you will have more working assets that are available for use than before. In addition to this, it also means that you will have fewer assets that have just been left to one side because they don’t work. When you have more equipment to use, you and your team can potentially be much more productive. This is just one of the benefits of managing office equipment using tracking software. 

Using equipment management best practices can make a real difference to your business. It can result in you getting more from all of your equipment which means your business could benefit.

Want to speak with someone about managing office equipment? Talk to us today. You can reach us now at team@itemit.com.

The Ultimate Guide To Equipment Management Best Practices

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

Related articles