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The Best Uses for a Fixed Asset Register

Aug 11, 2020 | Blog, Fixed Asset Management Software

The Best Uses for a Fixed Asset Register

You can use a fixed asset register for many different purposes. All of these purposes will help you save time and money, as well as help you improve your operations and make your company more efficient.

In essence, a fixed asset register is a list of all of your fixed assets. This list will have specific information included, such as the costs of assets. Likely, you’ll be using fixed asset management software to track and manage these assets. 

To find out more about what fixed assets your companies own, you can read more about this in our blog about what a fixed asset is.

 

The Best Uses for your Fixed Asset Register

So, what are the best uses for your fixed asset register?

When you’ve logged your fixed assets, and you’re tracking them with your QR code asset tags, you’ll start to collect some important data. This data you’ll be able to export, view, edit, and use.

How can you use this data?

 

Save Time

First of all, you’ll save time. Knowing where assets are thanks to location tracking ensures you’ll be able to find and use assets in an instant.

Also, being able to add equipment checkout information to your fixed asset register ensures you won’t double book on asset use. This means that you and your colleagues will be able to manage and plan time for operations better.

 

Save Money

The ability to track warranties, maintenance information, and depreciation data helps you save money.

Your fixed asset register provides the visibility you need over your fixed assets. With this visibility, you’ll be able to see when an asset is more economical to replace. 

Whether this is because a fixed asset has required frequent maintenance, or because you’re tracking depreciation data, you’ll have the information you need to make a replacement with the peace of mind that it’s the correct decision.

 

Lose Fewer Assets

Thanks to QR code asset tags and location tracking, you’ll be able to see where all of your fixed assets are. So, whether your business is working remotely or if you’re onsite, you’ll have a full register of what you own and where it all is.

Having a complete fixed asset register allows you to mitigate asset loss and helps with preventative measures against asset theft.

Thanks to streamlined reporting features in your fixed asset management software, too, seeing which assets haven’t been seen recently is an instant process.

 

Pay Fewer Taxes

Finally, a full, exportable list of your assets and their respective financial information is great for your business expenses.

What this means is that you’ll be able to verify the cost of assets, add them to your expenses, and update the purchase dates. This way, you’ll know that your expenses are correct.

Ghost assets and zombie assets can either incur fines or can mean that you’re paying more than is required in your taxes. A fixed asset register helps you mitigate this risk.

Find out more about itemit’s fixed asset management software by clicking on the demo button below.

Book Your Demo

You can also contact us at team@itemit.com, or fill in the form below to start creating your fixed asset register with a 14-day free trial.

 

Why not check out these blogs?

How Does IT Asset Management Work? 

How to Use Fixed Asset Management Software

Why you Need Check In Check Out Software

Start Your Fixed Asset Register Today

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How Does IT Asset Management Software Work?

Aug 10, 2020 | Blog, IT Asset Management Software

How Does IT Asset Management Software Work?

IT asset management software can help save you time and money. It’ll give you more control and visibility over your IT assets. This visibility gives you more data to make better business-focused decisions.

Your IT asset management software will build an IT asset register, which will show you all the information you need about your IT assets. To find out more about this, you can read our blog: what is an IT asset register?

 

equipment asset management software and ITAM

 

What Is IT Asset Management?

IT asset management (ITAM) is the process of logging, monitoring, and tracking your IT assets.

IT assets are anything with an IT capability. To name a few, IT assets can be:

  • Phones
  • Laptops
  • USB sticks
  • Spreadsheets
  • Software

There are many different sub-types of IT asset management. For example, you can have Sofware Asset Management (SAM) and Hardware Asset Management (HAM). 

The type of IT asset management will dictate which IT assets you’re tracking and how you’re tracking them. So, Hardware Asset Management will involve a lot more maintenance, and Software Asset Management will include tracking who has access to which software.

Overall, IT asset management is tracking information related to It assets, and this information is what helps give you more clarity over your assets, who is using them, and how they’re being used.

 

How Does IT Asset Management Software Work?

IT asset management software works by linking physical assets to online profiles. Much like with social media, each of your assets will have their own profile. 

On this profile, information related to your assets can be logged and edited. For example, you’ll be able to set reminders for PAT test tracking, and you’ll be able to assign assets to employees, making onboarding a much more transparent process.

The way you link your physical IT assets to your IT asset management software is by using asset tags. You’ll likely either be using QR codes or barcodes.

Every time you scan an IT asset’s tag, it’s profile will appear, and you’ll be able to add whatever information you need, such as required maintenance. This maintenance will then be visible against this asset, your maintenance team will be notified, and they’ll be able to find the asset quickly and fix it quickly.

Every scan also updates an asset’s last seen location and who scanned the tag, giving you a full audit trail of where assets have been and who has been interacting with them.

 

How Does IT Asset Management Software Help?

This information gives you more of a basis to make decisions. As you track and collect data, you’ll have more information about your finances and asset use.

For example, if you can see that an asset is frequently unavailable by using a bookings or equipment check out feature, you’ll know that it’s more economical to purchase another asset.

bookings and check in check out

If you can see that a laptop frequently needs maintenance, you’ll know that it’s cheaper to replace it than to continue fixing it.

issues management software

You’ll also be able to track depreciation using your IT asset management software, meaning you’ll know specifically when the value of your asset is less than its replacement price.

itemit, therefore, saves you time and money with this IT asset management functionality. To find out more about how itemit can help you, you can book a demo using the button below.

Book Your Demo

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

 

Why not check out these blogs?

How to Use Fixed Asset Management Software

Why you Need Check In Check Out Software

How Equipment Maintenance Tracking Software Saves You Time

Try Out ITAM Now

Start your free 14-day trial now

Instant access. No credit card details required.

Start Free Trial

or, download the itemit app to get started

How to Use Fixed Asset Management Software

Aug 7, 2020 | Blog, Fixed Asset Management Software

How to Use Fixed Asset Management Software

When you have fixed assets, it’s important to know as much as possible about them. This is were fixed asset management software comes in. 

With fixed asset management software, you can track your fixed asset inventory, managing things such as financial information, asset location, and asset usage information.

Essentially, fixed asset management software gives you the ability to cut costs and mitigate any lost time. For example, you’ll be able to track your maintenance, thus scheduling asset downtime more effectively and shortening the amount of time an asset can’t be used.

 

Why Do I Need Fixed Asset Tracking?

Fixed asset tracking saves you time, and it saves you money. When you have an inventory of your fixed assets, you’ll have plenty of data and information to save you money.

For one, a fixed asset inventory is incredibly important to have because this is usable in your business expenses. You’ll be able to leverage your inventory of fixed assets against your profits and, therefore, pay less tax.

As well as this, knowing what you own helps you avoid the risk of ghost assets and zombie assets. In other words, you’ll know what equipment you have, what you can use, and this equipment will be accounted for and visible in your fixed asset management software.

Overall, the visibility a fixed asset inventory gives you helps you make clearer decisions and helps you mitigate problems if and when things go missing.

 

How Do I Use Fixed Asset Management Software?

The process behind using fixed asset management software is incredibly simple. 

  1. Create your fixed asset register: The first step is to log your assets in your fixed asset management software. An import service is possible if you already have a fixed asset register. Effectively, what you’re doing here is creating digital doubles of your fixed assets.
  2. Tag your assets: The next step is to tag your fixed assets. You’ll likely use QR code asset tags, but you can also use GPS tags and RFID tags for some of your more expensive equipment.
  3. Link your equipment to your fixed asset register: Now, you’ll want to link your physical assets to their digital profile. To do this, all you need to do is scan the associated tags. Every time a tag is scanned, an asset’s last seen location is updated as well as the user who scanned the tag.

After this, you’ll be able to add a range of different information to your assets, meaning you’ll be able to track bookings, maintenance, locations, quantities, and more!

Tagging and Tracking with QR Code Asset Tags

To find out more about this, check out our blog about how to make a fixed asset register.

itemit’s fixed asset management software can help you do all of the above, and help you save time and money while you’re doing it.

To find out more about using itemit to create your fixed asset inventory, you can book a demo using the button below.

Book Your Demo

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

Why not check out these blogs?

Why you Need Check In Check Out Software

How Equipment Maintenance Tracking Software Saves You Time

5 Reasons you Need IT Asset Management Software

Try Fixed Asset Management Software Today

Start your free 14-day trial now

Instant access. No credit card details required.

Start Free Trial

or, download the itemit app to get started

Why you Need Check In Check Out Software

Aug 6, 2020 | Blog

Why you Need Check In Check Out Software

If you’re looking for ways to save time on your operations, check in check out software is just what you need. With check in check out software, you’ll be able to book equipment, check it out, and indicate to your colleagues where it is and who’s using it.

Time is money, so all of the time asset tracking with check in check out software saves you also saves you money, and allows you to have better control over your finances.

Equipment checkout software is shareable too, and you’ll be able to work with your colleagues and view which assets are available for use and when, allowing you to plan your time better.

 

Streamlined Bookings Features

With the use of QR code asset tags, booking equipment and checking it in and out is an instant process.

Each of your assets will have an online, digital profile. Asset tags are how you link these digital profiles to their physical counterparts. In other words, if you’re tracking a spanner, for example, the spanner will have an online profile. Whenever you scan the spanner’s asset tag, it will open this digital profile.

With equipment check in check out software, all you need to do is scan the asset’s tag, then either book the asset or check it out. It’s this speedy!

bookings and check in check out

Whenever you check an asset out, as check in check out software is cloud-based, this change will be visible to your entire team. This means that everyone will know when the asset is booked out for and can plan their time with more clarity. As double bookings aren’t permitted, you’ll get full visibility over asset availability.

Bespoke Reporting and Export Functions

The ability to report on bookings and check outs is helpful for any industry, from construction to healthcare, to anyone performing IT asset management.

These reports show you the specifics about who has been checking assets out, how long these assets have been checked out for, and which assets are more frequently checked out.

Knowing this data helps your business make better-informed decisions when it comes to equipment use, purchase, and decommissioning, as you’ll be able to see the trends and specifics behind equipment use.

Using Check In Check Out Software In Your Business

The ability to book and check assets in and out helps across the board. You’ll be able to:

  • Schedule maintenance and downtime more effectively
  • View which assets are and aren’t available
  • See which assets are frequently used so you can purchase more, should you need to
  • Create bookings for equipment that is rented out 

With additional control and visibility over your assets, you’ll be able to save a lot of time and money.

To find out more about how itemit can save you time and money, you can start a demo with the team by clicking the button below.

Book Your Demo

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

 

Why not check out these blogs?

How Equipment Maintenance Tracking Software Saves You Time

5 Reasons you Need IT Asset Management Software

Differences Between Asset Tags: How to choose the best type for you

Find Out More About Check In Check Out Software

Start your free 14-day trial now

Instant access. No credit card details required.

Start Free Trial

or, download the itemit app to get started

How Equipment Maintenance Tracking Software Saves You Time

Aug 5, 2020 | Blog

How Equipment Maintenance Tracking Software Saves You Time

Having an effective equipment maintenance tracking software can save you a lot of time, and therefore, a lot of money.

With equipment maintenance tracking, you’ll be able to report, schedule, monitor, and fix any asset maintenance that is required with much greater ease.

Overall, this will save you a lot of time as all of your maintenance will be on a single system, ready to view, edit, and use. 

 

Schedule your Equipment Maintenance

The first way you’ll be able to track your equipment maintenance is with a variety of scheduling features. 

With these features in your equipment maintenance tracking software, you’ll be able to:

  • Schedule repeating reminders for routine and pre-emptive maintenance
  • Set notifications for when maintenance is due
  • Book equipment for downtime
  • Check equipment out to show your team that it’s unavailable
  • And more!

There are two main ways you can do these, and the first is by setting reminders. Reminders are customisable, and you can set them to repeat. So, for example, if you need to calibrate an asset every six months, you can add this as a repeating reminder so that you get notified every six months.

Then, when the reminder is due, you’ll get an email and a notification on your phone reminding you to perform necessary calibrations, maintenance, PAT tests, anything!

The second way is with equipment bookings and checkout features. If you know an asset is due maintenance in advance, you’ll be able to book the asset out for the duration that the maintenance is required.

When it’s time to perform the maintenance, you’ll be able to check the equipment out, so that everyone knows that it is undergoing downtime. This speeds things up as people can plan their time better with the knowledge of what is and isn’t available, and by speeding up maintenance, mitigating lost costs from asset downtime.

bookings and check in check out

Report Issues Instantly

Using an issues management system in your equipment maintenance tracking software means that required maintenance is reported, seen, and rectified sooner.

Reporting an issue is simple. All it takes is a scan of a QR code asset tag attached to the equipment, then the issue can be typed up and sent off.

When this happens, you and your maintenance team will be notified, and the issue will be visible against the broken equipment itself. What this means in practice is that all you have to do is open up your equipment maintenance tracking software, click on the issue, and view which asset is broken, where it is, and what needs to be fixed.

Share your Equipment Maintenance Tracking Software

Another way you can save time with your equipment maintenance tracking software is with the amount of shareability it comes with.

The more people you share your software with, the less time individuals need to spend on rectifying, logging, and viewing issues. 

You’ll be able to set user permissions so that sensitive information remains hidden. Also, when your whole team can see which assets are unavailable, and when other assets will become unavailable for maintenance, everyone can be more time-effective.

To find out more about how itemit’s equipment maintenance tracking software can help save you time and money, you can book a demo with the button below.

Book Your Demo

You can also contact us at team@itemit.com or over the phone at +441223 421611. Or, fill in the form below to start your 14-day free trial of the software.

 

Why not check out these blogs?

5 Reasons you Need IT Asset Management Software

Differences Between Asset Tags: How to choose the best type for you

Everything you Need to Know About Asset Tracking Software

Sign Up For Better Equipment Maintenance Tracking

Start your free 14-day trial now

Instant access. No credit card details required.

Start Free Trial

or, download the itemit app to get started

5 Reasons Why you Need IT Asset Management Software

Aug 4, 2020 | Blog, IT Asset Management Software

5 Reasons Why you Need IT Asset Management Software

Your business needs IT asset management software. Being able to see what you own, monitor maintenance, and keep a register of your assets provides a brilliant opportunity to cut costs and save time.

How does it work? You’ll create digital profiles of your assets, which you’ll then be able to track and manage. With the use of QR code asset tags, you can link physical assets to these digital profiles.

 

equipment asset management software and ITAM

 

Every scan of a QR code asset tag opens up the corresponding asset’s profile, ready for maintenance to be logged or for a booking to be completed. Each scan also updates an asset’s last seen location and the user who scanned it, showing you where assets have been.

So, why do you need IT asset management software? Find out more below.

 

1. Asset Tracking Shows You What You Own

Having a full IT asset register shows you what you own. When it comes to writing up expenses and leveraging assets against profits, therefore, you’ll simply be able to export your IT asset register and transfer it to your finances.

This helps with tax breaks and ensures that you avoid fines by mitigating the risk of ghost assets and zombie assets.

Also, knowing what you own shows you what you do and don’t need to purchase, saving you money with the clear control that you gain.

 

2. IT Asset Management Software Saves You Time

Knowing where everything is speeds up asset retrieval. For example, if somebody needs a laptop, you’ll be able to check your IT asset management software to see where it is to collect it faster.

Also, every scan of a QR code asset tag speeds up adding information to your assets. Therefore, if you need to log maintenance, all you need to do is scan the tag and report this issue.

This information updates in real-time, meaning the changes will be reflected on your app and your web portal for your users to see.

3. Save Money With An IT Asset Register

Having a clearer view of asset information saves you money. You’ll be able to save petrol on asset retrieval, as well as optimise your operations.

Time is money, so saving time with IT asset management software also saves you money. But, losing fewer assets and creating more automation in your business also provides a high ROI.

The ability to see that everyone has what they need to work and that your assets are performing well saves money while also generating more revenue.

4. Make Onboarding Simple

When you’re onboarding new staff, you’ll be able to use an assignee feature to link assets to individuals. This way, you create an audit trail of who is using which assets.

Everyone needs a laptop to work, so being able to assign your business assets to individuals helps you verify that everyone has what they need.

Overall, this allows you to have more control over your assets and more visibility over what’s going on within your business.

 

5. Use The Data For Better Business Decisions

All of this information is viewable and exportable in customisable reports. What this means is that you’ll be able to run a report on which IT assets require PAT tests, for example.

Customisable and streamlined reports show you how assets are behaving, and which require work to be done on them. This gives you more time and freedom to plan ahead, showing you which assets will require downtime, and which should be replaced.

If you want to learn more about itemit’s IT asset management software, you can book a demo using the button below.

Book Your Demo

You can also speak to the team by emailing team@itemit.com or by phoning us on 01223 421611. Or, fill in the form below to start your 14-day free trial!

 

Why not check out these blogs?

Differences Between Asset Tags: How to choose the best type for you

Everything you Need to Know About Asset Tracking Software

The Importance of Construction Equipment Tracking

 

Start Using IT Asset Management Software Now!

Start your free 14-day trial now

Instant access. No credit card details required.

Start Free Trial

or, download the itemit app to get started