Fixed asset inventory software will give you the tools you need to maintain more control over your operations. It will allow you to speed up a lot of your day to day processes, saving you money as you do so.

Having a neat, transparent, and customisable fixed asset register is essential to any business, as it will help you maintain control over your assets. Knowing what you own and how its operating allows you to mitigate ghost and zombie assets.

Who Is Fixed Asset Inventory Software Helpful For?

Fixed asset inventory software can help any business across multiple industries. This is because the features are customisable and usable in a number of specific situations.

The main benefit of fixed asset tracking is that it fills gaps that are relevant to you, and benefits you in that way. So, for example, if you’re implementing asset tracking for healthcare, you’ll save time where it’s needed the most.

In construction, too, for example, tracking your construction assets as they move between sites mitigates asset theft and asset loss. You’ll also be able to track and manage your maintenance, meaning that you’ll get a clear view of which assets are due for downtime and when.

How Does Asset Tracking Work?

The way asset tracking works is simple. You’ll create a register of your fixed assets and add data to them. As each asset has a unique profile, you get a much higher level of control than you would with a spreadsheet.

You’ll then link these digital asset profiles on your asset register with their physical counterparts using asset tags. So, for example, if you’re implementing IT asset management, you’ll log your laptops and add data such as purchase date and price and then assign these laptops to your colleagues.

Then, you’ll tag your laptops with asset tags, such as QR codes, and be able to retrieve asset profiles simply by scanning this QR. Every time you scan an asset’s tag, the last seen location will also update, showing you where tools and equipment have been.

How Does Fixed Asset Inventory Software Save You Money?

First and foremost, this saves you money by saving you a lot of time. As you can log, view, and edit asset data simply by scanning an asset’s tag, you don’t have to tackle an unwieldy spreadsheet anymore.

There are a lot of other money-saving benefits fixed asset inventory software will provide you with, however. For example, a clear view of your assets and how they’re behaving allows you to make better business-based decisions and control your finances better.

Assets are easier to insure and having a clean asset register allows you to get accurate tax breaks, too. Overall, the ability to see, manage and control your fixed asset register gives you more financial transparency.

To find out more about how itemit’s fixed asset inventory software can help your business, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial and see the benefits for yourself.

Why not check out these blogs:

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Why You Need Equipment Maintenance Management Software

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It’s Halloween 2020, and there’s not much that can scare us anymore. However, financial losses are still a terrifying prospect. Spooky ghost assets and terrible zombie assets can plague a fixed asset register, causing a lack of accountability and a lack of transparency.

So, what do you do? Call the Ghostbusters? Luckily, the solution is much simpler and will empower you to bust your undead assets on your own: fixed asset register software.

Fixed asset register software is a silver bullet which will keep your fixed asset register clean, up to date, and accurate.

What Are Ghost Assets?

Ghost assets are assets that are on your fixed asset register but aren’t available for physical use. In other words, a ghost asset can be an asset that has been decommissioned, but not yet removed from your fixed asset register.

Why is this a problem? If you’re submitting your fixed asset register to your finance department, it needs to be up-to-date and accurate. If there’s an asset on your fixed asset register which is still depreciating in cost, yet has already been physically replaced, all of your data is incorrect.

In essence, a ghost asset will haunt your fixed asset register by adding costs. Your costs must be accurate for tax breaks and insurance purposes, so unintentionally presenting that you’re paying more money than you are in operational costs is a huge problem.

What Are Zombie Assets?

Zombie assets are effectively the opposite of ghost assets. These are assets that physically exist for use, but aren’t reported in your fixed asset register

These assets lumber on in your day to day use, hidden to the naked eye, looking like legitimate assets but still plaguing your fixed asset register. Why? Because they lower the accuracy of your costs.

Zombie assets reduce the overall financial costs in your fixed asset register, forcing you to miss out on earned tax breaks. If you haven’t added a fixed asset as a business expense, you can’t leverage it against your business’ tax returns. 

How Does Fixed Asset Register Software Help?

Fixed asset register software allows you to add your fixed assets accurately and maintain them to ensure your data is up-to-date at any given moment.

As each of your fixed assets will be tagged and entered into your asset tracking software, you’ll be able to keep a much clearer eye of when assets are at risk of becoming a ghost or zombie.

Asset management allows you to track your fixed assets throughout their lifecycle, meaning that decommissioning doesn’t turn your assets into ghosts, and acquisition doesn’t turn your assets into zombies.

The ability to scan an asset’s tag and view asset-related data instantly gives you the accountability and transparency you need to ensure your fixed asset register is accurate and up to date.

The final step, then, is exporting your fixed asset register with all of this data, devoid of the undead and ready to be used in your financial operations.

To find out more about how itemit can keep your business free of ghosts and zombies, you can call the ghostbusters at 01223 421611, or email us at team@itemit.com.

You can also book a demo using the button below to see our exorcisms in practice.

Or, you can start a free trial to start hunting zombies yourself using the form below.

Why not check out these blogs:

How Asset Tagging And Management Can Help With Remote Working

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How Fixed Asset Management Software Saves You Money

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Fixed asset management software saves your business money by saving you time and giving you more control over your operations. You’ll be able to keep all of your fixed assets in a neat and up-to-date register.

With fixed asset tracking, your operations are speedy and simplified, allowing you to spend more time on the things that are most important to your business.

Lose Fewer Fixed Assets

The immediate benefit is that you’ll lose fewer fixed assets. This doesn’t just mean physical asset loss, but also means a loss in tracking and accountability.

There are a few ways you can lose a fixed asset. If your fixed assets move around a lot, robust tracking is necessary to ensure they arrive at their destination and to ensure that retrieval is possible if needed.

However, you can also lose track of fixed assets if their lifecycles aren’t effectively maintained. Ghost assets are assets that are still on your fixed asset register, but can’t be physically accounted for, where zombie assets are assets that can be physically accounted for, but aren’t on your fixed asset register.

Implementing fixed asset tagging mitigates the risk of ghost and zombie assets as your assets will be physically tagged and digitally linked to your fixed asset register.

Gain More Transparency Over Fixed Asset Operations

Using fixed asset tracking operations such as fixed asset tagging also gives you more control over your daily and long-term operations. Knowing that your assets exist and are accounted for in a digital fixed asset register allows you to add more data and information.

As each of your fixed assets will have a digital asset profile, you’ll be able to add crucial information, such as depreciation data and asset finances, such as purchase price and insurance details.

Not only this, but fixed asset management software also gives you a greater ability to add information through fixed asset tracking functionality. So, you’ll be able to add maintenance information, as well as location data and booking information.

This way, you’ll get more functionality than a spreadsheet can possibly provide, allowing you to keep operational costs low and transparent.

Export Your Fixed Asset Register

All of this data comes together in your fixed asset register. Using fixed asset management software means that your fixed asset register will be updated in real-time after any changes to an asset.

This way, every time you maintain or update an asset, the change will be reflected on your fixed asset register. This keeps your operations simple and transparent, allowing you to make better business-focused decisions.

Your fixed asset register is then exportable, with images and all the other data you’ve collected. Having this full fixed asset register is essential to your operations as you’ll be able to use it for insurance, financial, and acquisitional purposes.

To find out more about how itemit’s fixed asset management software can help save you money, you’ll be able to book a demo using the button below.

You’ll also be able to contact the team at team@itemit.com, or by calling 01223421611. You can also fill in the form below to start your 14-day free trial and see the benefits for yourself!

Why not check out these blogs:

Why Your Business Needs Asset Labels

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Why Asset Tags Need To Be Unique

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or, download the itemit app to get started

Fixed asset register software can help you save time and money. Automate your operations by managing asset-related data and finances. With fixed asset register software, you’ll be able to keep a clear eye on what you own and what its status is.

Implementing asset tracking procedures benefits your business by:

• Helping you keep track of what you own
• Mitigating issues such as asset loss or a lack of accountability
• Enabling you to run speedy audits to verify that your assets are accounted for

So, who can fixed asset register software help? The answer is simple, anyone with fixed assets in their business.

How Does Fixed Asset Register Software Work?

Fixed asset register software allows you to create unique digital doubles of your assets. On these digital profiles, you’ll be able to add relevant information, such as who is responsible for assets, as well as depreciation information and costs.

You’ll be able to use fixed asset tagging to link your physical assets with their digital profiles, too. Fixed asset tagging is the simple process of adding a fixed asset tag to your physical assets and then scanning them into your asset tracking app.

After this, every time you scan an asset’s tag, the asset’s digital profile will open up, ready for you to view, add, or amend any data. The last seen location will also update whenever you scan an asset’s tag, as well as the user who scanned the tag. This way, you’ll create a visible audit trail of where your assets have been.

The Type Of Businesses That Need Asset Tracking

A wide range of businesses can benefit from asset tracking. As fixed asset register software is customisable, and as you can add your own assets, you can tailor your procedures to your needs.

So, if you’re looking for construction equipment asset management, for example, you’ll be able to log your asset data in your fixed asset register software. Then, you can track crucial information such as maintenance data and manage issues via your asset tracking system.

If you’re working in an office or from home, you’ll be able to use your fixed asset register software for IT asset management processes. This way, you’ll be able to verify that your equipment is up to date and that your colleagues have everything they need to perform their tasks.

Overall, if your business has assets, you’ll be able to create more transparency and accountability around them using fixed asset register software.

Exporting Your Fixed Asset Register

All of your procedures come together with the ability to export your asset register. Using a bespoke and customisable reporting feature, you’ll be able to filter by asset type or status and export pdfs or spreadsheets showing relevant asset data.

This is useful to prove responsible ownership and accountability when it comes to insurance, but it can also assist with your expenses and finances.

Effectively, reporting streamlines your operations and gives you the functionality you need to perform your duties efficiently, accurately and quickly.

To find out more about how itemit’s fixed asset register software can help you, you can book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial and see the benefits for yourself.

Why not check out these blogs:

Why Software Asset Management Is So Important

How To Use Asset Management Tools In Your Business

How To Use Computer Asset Tracking Software To Save Your Business Money

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or, download the itemit app to get started

With a fixed asset register, you’ll be able to track and manage your assets much better. Fixed asset registers make your auditing transparent, streamlined, and effective.

However, there’s more you can be doing. If you’re currently using a spreadsheet, you’ll notice that there are gaps. When assets move or when the data related to them changes, your fixed asset register becomes out of date.

Therefore, using a spreadsheet takes a lot of time and manual input. This is where fixed asset register software comes in.

The Benefits Of Fixed Asset Register Software

The main benefit of fixed asset register software is that it automates a lot of your operations. With fixed asset register software, any changes that you log against your assets are automatically updated in real-time.

How it works is by using standard asset tracking operations and functionality, and reflecting these changes in an automated and exportable reporting system.

So, if you notice an asset has been damaged, when you use your fixed asset register software to report the damage, this change will also be reflected in your fixed asset register.

How Asset Tracking Works

Asset tracking works by using unique digital asset profiles to log data and changes. This data can be maintenance information, such as reminders or issues management, but it can also be bookings, financial information, or images.

Therefore, if you notice that a laptop is due for maintenance, you’ll be able to log this on the laptop’s digital profile against the laptop itself. So, when it’s time to undergo the maintenance, you can see exactly which laptop requires this maintenance and where it is.

Then, you’ll link your physical assets to these digital profiles using asset tags. These asset tags are stuck onto your assets to streamline your operations. 

Asset tags can be QR codes, barcodes, RFID tags or GPS tags, it’s up to you!

Once you’ve linked your physical assets to their digital counterparts, every time you scan the asset’s tag, the digital profile will appear. The last seen location and user who scanned it will also update.

Preventing Gaps In Your Operations With Fixed Asset Register Software

Overall, this level of automation prevents gaps in your fixed asset management processes. Having a robust register where a digital database is linked to physical assets ensures that you lose fewer assets and that you know how assets are behaving.

Therefore, using fixed asset register software reduces the chance of having ghost assets and zombie assets when it comes to auditing and accounting. 

As it’s all automated, too, you save time where you need it the most. Therefore, fixed asset register software helps you get the most out of your fixed assets while they run through their lifecycles.

To find out more about how itemit’s fixed asset register software can help you, you can book a demo using the button below:

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

Why not check out these blogs?

How To Manage Your Business’ Equipment

Using Tool Tracking Software For Small Businesses

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or, download the itemit app to get started

Many people are working from home in the UK. Did you know, you can continue to use your fixed asset management software to save time and money? If you haven’t implemented fixed asset management, yet, it’s still a breeze to set it up remotely.

When your fixed asset management software is set up, you’ll be able to verify that your employees have all of the equipment they need to perform their duties. You’ll also be able to verify that equipment is maintained and that everything is running smoothly.

Then, if and when it’s time to return to the office, you’ll be able to use your fixed asset management software to ensure that the move is streamlined, quick, and easy.

What Is Fixed Asset Management Software?

Fixed asset management software is a cloud-based asset tracking system which will help you view everything that you own and data related to it. So, in your fixed asset tracking app and web portal, you’ll be able to log unique asset profiles. 

On these asset profiles, you’ll add crucial data, such as depreciation information, maintenance information, and you’ll be able to use it as an equipment check in check out system.

To link your physical assets to their digital profiles, you’ll use fixed asset tags. These asset tags are stuck onto your assets, whether they’re IT assets or tools and equipment, and scanned into your fixed asset management software.

How Does This Help With Working From Home?

The recent move towards working from home has thrown up a few new issues.

• It’s difficult to see who has what
• What your business owns is less visible
• The status of your fixed assets is less visible
• The location of your fixed assets is unknown

Fixed asset management software will help to mitigate these issues. As you’ll have a suite of asset tracking features, you’ll be able to make the most out of the additional accountability.

For example, you’ll be able to use itemit’s assignee feature to run reports to see who is responsible for which assets. This way, you’ll be able to verify that your colleagues have everything they need to act efficiently.

Using Your Fixed Asset Register

All of your fixed asset management efforts will come together in your asset tracking software’s reporting features. With your reports, you’ll be able to filter the information you need to see and export it.

Overall, you’ll get a full view of all of your unique assets as well as the information related to them. This is crucial for accounting and insurance purposes, and when there’s remote working involved it’s more difficult than ever to maintain a fixed asset register.

itemit will update and maintain your fixed asset register automatically. In other words, every change will update in your exportable fixed asset register. Therefore, it’s easier than ever before to create and maintain a fixed asset register for your business’ operations.

To find out more about how itemit’s asset tracking system can help you with your fixed asset management, you can book a demo using the button below.

You can also start your 14-day free trial by filling in the form below. Why not contact us at team@itemit.com so that our friendly team can get you up and running in no time?

Or, you can check out these blogs to find out more:

Using Computer Asset Tracking Software For Videogame Development

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Why You Should Use A Fixed Asset Tracking Solution

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or, download the itemit app to get started