Even though we live in the computer age, there are still businesses that have not yet switched to using asset tracking software. Some of these businesses may not have a lot of assets, others may have countless. Some businesses may still rely on spreadsheets, others could be quite disorganised. Whatever the case may be, it’s time to make the switch. Here’s why:

Making the switch to asset tracking is a very good idea. When you do, you will be able to control all of your assets in new ways. You will be able to see who is using what assets, whether they have recently undergone maintenance, and who is waiting to use the asset.

One of the more important features of asset tracking is that you can do just that, track your assets. With the use of an RFID tag or a barcode, you can see where your assets are all day, every day. So, if you wish to see where some or all of your assets are at 11am, you can. You can track your assets from:

• Your laptop
• Your phone
• Your desktop computer
• Your tablet

As long as you are connected to the internet, you can track your assets. You can track your assets:

• At home at 11am
• On the bus at 8am
• On the train at 1am
• On a plane at 3am 
• In your hotel room at midday

With the ability to track your assets no matter where you are (or what time it is), you can have more control over them. You can also see how often they’re used, where they’re used, and whether they need to be repaired. Later on in this article, we will take a look at the additional benefits of making the switch.

Making the switch to asset tracking software is relatively easy. You need to affix an RFID tag or a barcode to each of your assets. Don’t worry, these are usually provided to you when you sign up for the software. 

Now, all that you need to do is to log into the tracking software and scan every barcode or RFID tag. When you do, you will see that a digital profile has been created. Once created, the profile will allow you to add as much or as little information about each asset as you wish. 

You could, for example, add the following information: 

• The asset’s name, model and make
• The asset’s warranty and insurance details
• The asset’s date of purchase and price
• The asset’s maintenance history 
• The asset’s life expectancy
• A photograph of the asset for quick identification
• Any other information that you wish to add 

You could make the switch today and start adding your assets to your new asset register. Do one room/warehouse/yard/office, etc at a time so make it easy on yourself. you’ll soon have an asset register that works for you.

Some of the benefits of making the switch to asset tracking include: 

• You can have much more control over your assets all day, every day
• Your assets will instantly become more secure 
• You can see who is using which asset at any time of the day or night 
• You can track your assets with ease 
• You can potentially eliminate ghost assets 
• You can create a maintenance record for every asset so they stay in good working order 
• It’s easy to update a lot of assets all at once 
• You can check assets in and out 
• Public profiles can be created for more transparency 
• Creating and exporting reports allows you to access important data 
• You can access the tracking software no matter where you

Did you know that having more control over all of your assets allows you to see your business from a new perspective? You can have a lot of information to hand, some of which you may never have had access to before. With this information/data, you can potentially steer your business in a new direction.

You’ve no doubt heard the phrase “There’s no time like the present”. It’s a phrase that rings true right now. If you’re considering making the switch, do it now. You will start to reap the rewards that come with using software that tracks your assets. It’s also likely that you’ll find it has more benefits than you ever realised. More and more businesses are now using software that tracks their assets, and you can too. Come out of the dark ages and use software that can realistically benefit your business. 

Wish to chat with someone knowledgeable about asset tracking software? Contact us now at team@itemit.com.

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Most of us are aware that new technologies are being developed all of the time. With this, comes the realisation that the workplace is changing. How we go about our daily work life tasks can change in such a short space of time. 

But how will managing your asset register change over time? Will emerging technologies influence IT asset management? Let’s take a look.

Before we actually look at some emerging technologies, let’s look at those which are currently being used. 

• GPS – In the world of IT asset management, being able to track your assets is crucial. GPS can help with this. It’s also ideal for those who wish to track vehicles and equipment used outside the office. 
• RFID tracking – Radio Frequency Identification tracking is often used by small businesses to track assets. It can be very useful as it allows each asset to have an individual barcode. This means it relatively easy to track specific assets 

Now let’s take a look at some emerging technologies.

We have all heard about artificial intelligence and even how it could take over the world. However, AI can only do what it has been programmed to do. So, it’s unlikely that a tool that helps to make your IT asset management app run smoother will be looking for world domination. 

The good news and the realistic news is that AI can help in the workplace. For example, you could gain some insights into how your assets are performing and how they are being used. You may even get some updates on each asset’s maintenance status. 

Just think, if one of your trusted machines is undergoing maintenance you could receive updates as to how things are going. Knowing that maintenance may only take a few more days means you could have a clearer idea of when orders will be fulfilled. 

It’s AI-derived information such as this that could help you to make better decisions about how to go about your day-to-day tasks.

In the world of IT asset management, QR codes could prove to be very useful. Scanning the code with a smartphone results in a lot of details appearing on the screen. If you have a lot of similar assets you can scan and see which asset is in front of you and get a lot of information about it. The information will need to have already been added to the asset’s profile, of course. However, this is usually very easy. 

One of the benefits of using QR codes to help you track your assets is that they can be scanned on a smartphone. This is a device that most people already have, which makes QR codes so much easier to access. 

QR codes have already proven to be helpful if you have a lot of assets that need to be checked in and out regularly.

Many people now use augmented reality (AR) to help make the games that they play more realistic. Some online stores also use AR, allowing the customer to see if a table they’re considering buying will look good in their home. 

Augmented reality can also prove to be very helpful in the workplace. Users may be able to visualise asset locations and features. This could be beneficial if you need to find an asset but you’re not exactly sure where it is. 

Being able to visualise features can also be very useful if you need to learn something about an asset. Alternatively, the ability to differentiate one asset from the other via AR could prove helpful. As a result, you could find that IT asset management is easier than you think. For example, if you want to give one team laptops that use specific software you can see which laptops are using that software. Within a matter of moments, you could have the answers you need.

The very quick answer is “Yes it can”. As more and more technologies emerge it’s highly likely that your current IT asset management software will change and develop. Therefore, some of the technologies that we’re only just learning about (AI, for example), are likely to be built into asset register software. Therefore, managing an asset register could potentially be easier than ever before. This means that you could have more control over your assets, and know more about them and where they are than you can currently imagine. 

Creators of IT asset management software are likely to work in earnest to make sure that you always have something powerful and useful to help you track all kinds of assets in the workplace. 

Wish to talk with an IT asset management expert? Contact us now at team@itemit.com.

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If you are about to use an asset register app for the first time, you may be wondering how to integrate it with other business systems. If you have been in business for a while, it’s likely that you already use a range of business systems. 

Many businesses already use systems such as accounting software and data tracking tools. But is it possible to integrate everything? Let’s take a look.

Some businesses are more than happy to use a wide range of systems. However, doing so can be a lot of work and occasionally be a little difficult. This is because you may need to keep logging into a range of software. One easy way to integrate everything is to make sure you use software that’s compatible with a lot of other business systems. 

For example, an asset register app may be compatible with content management tools and accounting software. Your location tracking software may be compatible with your maintenance app, and so on. When there is more compatibility between the systems you use, it makes life much easier. 

You may no longer need to log into one programme and then use an app to do something else. It could be possible for you to log into your new asset register and control everything from one place. All that you need to do is to set up your new register so you can have more control. The good news is that this tends to be relatively easy. Most new apps have been created to be easy to use. As a result, you could soon find yourself using one app all day, every day.

Depending on the asset register app that you use, it may be possible to integrate it with your accounting software. Some apps work with many different types of accounting software, some work with just a few. The apps may be able to export reports that contain data about the value of your stock, and your recent orders. The software could also help you to understand whether you’ve paid your clients and whether your customers have paid you. The apps may also help you to see whether your business is doing well or whether you need to apply for a loan.

When you integrate your asset register app with accounting software, it’s likely that you integrate it with invoicing software. This is unless, of course, you wish to keep things separate. You could, for example, have all of your figures in one place and all of your invoices in another. 

While this may not always seem like a good idea, it can work well. You need to know who has paid their invoices and who you need to chase up. When you use an asset register to help you track your assets, you can also use it to help you track your invoices. 

For example, you could set notifications that remind you to send an invoice to your clients. You could also have a notification that pops up a week later reminding you to check that invoices have been paid.

Perhaps you already track your assets, perhaps you use software that you’ve used for a long time. However, when you use an asset register app that’s fairly modern, it’s likely that the app will also offer location tracking services. As a result, the app may not allow you to integrate with other tracking software. After all, you’ll be asking the app to work with a competitor.

One of the best things that you can do here is to use your new tracking app to track your assets. If the tracking app that you’re considering using is a new one, it may have more features than your current one. Chances are, a more modern tracking app will also provide you with more accurate tracking data.

When you have more accurate tracking data you’re more likely to know where all of your assets are all of the time. You may even know who is using what asset, and who is waiting to use that particular asset. Additionally, there may also be an enhancement of your security when you use a more modern tracking app. The even better news is that switching to a new app that tracks your assets is usually easier than you think.

It may not be possible to integrate your new asset register software or app with tracking software. However, you are more likely to come away with an asset tracking solution that’s more reliable and more secure.

Would you like to speak with an expert about integrating your asset register app/software with other business systems? Reach out to us now at: team@itemit.com. 

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If you have already started looking into effective office equipment management, it’s likely that you’ve heard that tracking software can help. But did you know that data and analytics can also help? While this may seem a little too technical for some, it’s actually quite easy to understand. In short, data and analytics can help to boost efficiency, help to increase your profits and keep your clients happy. Lastly, using data and analytics can also help to reduce costs. 

With these benefits in mind, let’s take a look at just how you can help to make the most out of using data and analytics alongside office equipment management.

Regardless of what industry you work in, maximising sales and profits is key. It goes without saying that if you boost your sales and profits that your business will benefit. But just how does data and analytics help? 

They help by giving you greater insights into your business thanks to offering you real-time data. It’s this data that can help you to make the right decisions about your business. For example, you can see which products are in high demand. With this knowledge, you can potentially see your sales increase more than you otherwise would have.

Using office equipment management software that lets you see data in real time can mean that operation efficiency improves. This is because you begin to understand the metrics even more. In other words, you have a much clearer picture of your:

• Sales revenue
• Net profit and gross margin
• Customer retention
• Monthly qualified leads
• Year to date sales growth 

With all of this information to hand, your business could become much more efficient. You can get rid of or minimise everything that is creating a bottleneck. If you’re not sure of the terminology, a bottleneck is something that creates a type of backlog. When some of the work that you do is at full capacity, your productivity and even how you communicate with your suppliers can be affected. When you let data and analytics work for you, you can realistically improve operational efficiency.

Should you start looking closely at office equipment management, you may see some inventory shrinkage. This happens to every business from time to time. Inventory shrinkage has a number of causes such as stock becoming obsolete, damaged, or even stolen. Shrinkage can also occur if you have counted your stock incorrectly. For example, you may think you have 200 units, but you may have 100 units instead. 

Data and analytics can help you to see your inventory’s movement. As a result, losses can be prevented. This is especially the case as you may be able to see where discrepancies lie. If you use data and analytics alongside office equipment management software, you may even see who is moving all of your stock. It’s this that can help to reduce theft and/or damages.

Every single business in the world wants to reduce costs. Here is where data and analytics can help. When you can see real-time data as and when you wish to, you can help to lower costs. Data can help you to understand the costs associated with renting your premises. It can help you to see how much you’re spending on materials, and even how much interest you’re paying on your loans. 

When you can reduce your costs there’s a real opportunity to increase your profits. This is something that every single business around the globe is vying for. It’s also something that can realistically happen if you use data and analytics to your advantage.

We all know that keeping our clients happy is so important. You can put a lot of effort into a manufacturing process. You can make your marketing materials look all fancy and appealing. You can even work out how to reduce your outgoings so you spend as little as possible. However, if you have unhappy clients all of your above successes are irrelevant. 

When you use real-time data, you can begin to understand why some of your products are more popular than others. You can spot seasonal trends, and you can see which products are in demand and which aren’t. For example, during the summer months, a supermarket manager knows that more BBQ products will sell. However, they also know that tins of soup are less likely to sell. With this knowledge, the supermarket manager can offer their customers more of what they want when the sun is shining. 

You too, can see what your clients want and when. Additionally, you can keep your clients happy by making sure products are delivered on time, that you’re using a reliable carrier, and much more. All of this is possible when you use office equipment management software alongside data and analytics. 

Data and analytics have a hugely important role in equipment management. It can ensure that the right equipment is available at the right time, that your clients are happy, your costs are reduced, and so much more. This is why many businesses are now choosing to track their data. 

Wish to speak with a data and analytics equipment management expert? Contact itemit now at team@itemit.com.

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If you are new to the world of asset tracking solutions, it’s likely that you’re surprised by how much these solutions can help. If you have been tracking your assets for a long time, it’s likely that you’re aware of all of the advantages. Either way, if you’re tracking your assets without integrating other business systems you’re missing out. 

When you integrate as many systems as you need, there’s a real chance that your working day could be easier. For example, integration could mean that many repetitive tasks and processes are automated. Additionally, information could be exchanged between the different business systems that you use. As a result, asset data could be even more accurate, and asset security could be greatly enhanced. 

Let’s take a closer look at what system integration is, why you need to use it, and its benefits.

System integration relates to automating repetitive tasks and processes. These tasks and processes exchange information and move between a range of business systems. 

Let’s imagine that you have created an invoice. You need to be aware of which clients usually pay their invoices on time and which ones don’t. When your invoicing software is linked with your billing software and everything shares data it makes it easier to see where there may be issues. This can be particularly helpful if there is a gap between how much you expect to receive from your clients and what you actually receive. 

When you link or integrate this information with asset tracking solutions you can have an even clearer picture of everything invoice-related and more.

As we have already seen, you can link your invoice-related information together. You can also link so much more. All of your current business systems integrations can be linked with your asset tracking solutions.

When this occurs, there’s a real opportunity for you to gather a lot of information and data together regardless of which systems you use. A result of this is that you can potentially streamline many of your business processes. You could also have a better insight into how your business operates. Additionally, you can see which assets are hugely beneficial to your business and which ones aren’t. What this means is you can potentially increase the bottom line.

Some of the clear benefits of integrating tracking software with other business systems are: 

• An improvement in accuracy 

As all data is stored in a database that’s centralised, there are fewer chances of any errors. This can be very beneficial to any business that has a lot of assets that need to be tracked. 

• An increase in efficiency 

In the past, you may have had to search through a range of business systems to find the information you needed. However, when you integrate tracking software with business systems the much-needed information can be accessed much more quickly. As a result, time can be saved and you and your team as a whole can be more efficient. 

• An improvement in asset utilisation 

When all of your asset-related information is in one place, it’s easier to see which assets are underused. When you know which assets are underused they could be sent to another area where they might be used more. 

• A reduction in costs 

With the ability to track assets with ease, you can save time and thereby save money. Not a lot of people are aware that you save money. However, when you use asset tracking solutions with other business systems you start saving right away.  

• An enhancement in security 

When you can control who has access to which assets you automatically enhance security. Not only can you control who has access to which assets, you can control who has access to which data. As a result, prying eyes are a lot less likely to see that all-important data. This can bring peace of mind as it means sensitive information  may not get into the wrong hands. 

• An Improvement in compliance with regulations

Tracking software is very good at helping businesses to prevent breaches. Instead, it can help to make sure that all assets are used with regulations in mind. This is ideal for businesses that need to show official bodies that they are complying with important health and safety regulations. 

As you can see, integrating asset tracking solutions with other business systems has a lot of benefits. This is why more businesses are now choosing to use asset solutions that allow for integration. Not only does it make life easier, but it also benefits businesses in a wide variety of ways. 

Wish to chat with an expert about integrating asset tracking solutions with other business systems? Contact us now at team@itemit.com. 

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Many people use an asset register to help them to keep track of their assets. For example, they may wish to know who is using what asset or even where the asset is located. Alternatively, a business owner may use a hardware asset register to help them schedule important reminders.

If you already have an asset register up and running, now’s the time to add financial information to it. If you have not yet created a software or hardware asset register, now’s the time to do so. In fact, you can create an asset register for all of your assets such as machinery, computers, tools, equipment, and anything in between. 

Once you have your asset register you will need to add financial information to it. Don’t worry, this is usually very easy. Simply select an asset and click on a menu that allows you to add text. You may, for example, use software that has a “currency” menu. Opening this menu will allow you to enter the currency and the cost of the asset. Please bear in mind that not all software has the same menus. Therefore, you may have to look for the relevant one.

Once you have added your assets to your hardware asset register, it makes sense to double-check everything. It’s very easy to make mistakes when entering information. However, if you want to create financial reports the information needs to be correct.

Double-check everything carefully so you’re satisfied that all is well.

Part of the accounting process includes the verification of your assets. When you verify your assets you walk around your office, yard, factory, etc., looking for each asset. If the asset has been recorded on the asset register but it is nowhere to be seen, it may be a ghost asset. In other words, they may appear to be working and present and correct but the opposite might be true. 

Should you come across a ghost asset, it’s worth your while sending it to maintenance. As soon as the printer, photocopier, tool, or machine is repaired, it will no longer be a ghost asset. 

Furthermore, if you find anything that is not listed on your hardware asset register, it’s what we call a zombie asset. Adding it to the register will ameliorate this.

Over time, all of your assets are going to lose value. This is known as “asset depreciation”. If you want your financial reports to be accurate you need to account for depreciation. There are a few different ways to calculate asset depreciation. However, this is not something we’re going to explore here. For now, we’re just going to consider your hardware asset register and how you can create financial reports. 

As soon as your asset depreciation has been calculated, it will need to be recorded in your asset register. Additionally, you’ll need to record any updated tax and insurance values.

Now that you have added all of the required information, you need to keep it up to date. The good news is that this is usually fairly easy. Simply add any changes to your hardware asset register. For example, you may find that the value of one of your assets increases from time to time. While it may not increase by a huge amount, it’s still worth noting this in your register. 

When you choose to purchase more assets, they need to be added to your register. Don’t forget to add the depreciation values too. 

When your asset register is up to date it allows you to have a better idea about your assets. You can also have a clearer idea about the value of your assets combined. Additionally, you can have more control over your assets, who uses them, where they are, and the maintenance status. Having more control over every aspect ensures that you can make the most out of them.

There are many types of asset register software available. However, using this software for financial reporting only makes sense if you can export reports. When you have the ability to do this, you have the ability to understand your business more.

Using an asset register for financial reporting means you can understand your business on a whole new level. You can see, for example, how many times particular assets are used. You will know the maintenance status of your assets and which ones need to be repaired or replaced. All of this information will help you to have a new, more accurate view of your business. It’s this view that can help your business to succeed.

Wish to speak with an expert about using a hardware asset register for financial reporting? Talk to us now at team@itemit.com.

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