If you work in the world of business you’ll know that your ROI (Return on investment) is a vital part of what you do. Ideally, you will have a very good rate of return so that your profits are high. However, this is not always very easy to achieve. The reason for this is that many businesses simply don’t understand what is costing them money. Consequently, their ROI is not as high as it could be. 

Asset tracking software can be hugely beneficial in terms of boosting your ROI. When it is used correctly, it could make a large difference without very much work. Read on to find out how and why.

Asset tracking software is based in the cloud and it was made to ensure businesses have more control over their assets. Tracking software has the ability to track your assets in many different ways. It can track your asset’s location, who is using it, how valuable the asset is, and so much more. The software can even help to increase your assets’ life cycle, ensuring that it lasts longer than it would have otherwise. If this is not enough, it is possible to create highly valuable data that could prove very useful to you.

Tracking your assets is always a good idea. You need to see who is using your assets and, of course, if they are in the right location. It’s this that can help to boost your ROI simply because you’re unlikely to misplace anything. In addition to this, your new asset tracking can help to prevent your assets from being stolen. How is this? We hear you ask. It’s simply because it will be obvious to the user that your assets are being tracked. 

When you begin tracking your assets you’ll need to attach an RFID tag or a QR code to them. This is so that you can track many different aspects of each asset. It also allows you to understand more about the asset you’re about to use. The good news is that the RFID tag or QR code that you’ve attached isn’t easy to remove. Therefore, your assets will become much more secure.

If you run the type of business that involves having multiple assets in multiple locations you’ll be thankful for asset tracking software. Keeping an eye on assets on the move is never easy. In fact, it can occasionally be quite nerve wracking. 

Sending valuable assets to a different location obviously comes with security issues. However, there’s also the worry about whether the right equipment, for example, has arrived at the correct location. Without the use of tracking software, it can be difficult to know whether the equipment has landed in Peterborough or it has been sent somewhere else. 

When you use reliable, modern tracking software, however, you can see where your equipment is. You can do this regardless of the time of day (or night) or even which device you logged in with. All that you need to do is log into the software and select the equipment in question. 

If you want to make life easy on yourself you could put the equipment you’re sending to Peterborough in one collection. This will enable you to see where everything is with ease.

Want to check the location of that delivery? Log in via the online portal using your desktop computer or your laptop. Alternatively, you could check via the app that you’ve installed on your smartphone or tablet. The choice is yours but being able to access the software in multiple ways is very convenient.

Did you know that setting maintenance schedules can help to boost your ROI? When you take good care of your assets they may last the expected lifespan. However, when you look after your assets and ensure they’re regularly inspected they could last longer. This ultimately means that you could have a much better return on your initial investment. You could spend less replacing assets that break simply because everything will be in a better condition. 

All that you need to do is to log into your asset tracking and set up maintenance schedules. Do this for every single asset. Some assets should be checked yearly by your maintenance team. Other assets should be checked every six months. Whatever the case may be, ensuring everything has a maintenance schedule will help. Now, all that you need to do is make sure your maintenance team receives a notification when an asset requires inspection. 

Imagine being able to spend less money replacing assets because you use tracking software. Your return on investment will be boosted and your business could benefit greatly. 

Would you like to speak with an expert about using asset tracking to boost your ROI? Contact us today at team@itemit.com. 

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