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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These days, it’s becoming increasingly important to keep your data safe and secure. Using a computer, a tablet, or a laptop can be less safe than you think if you don’t constantly update the software. Data that is allowed to go astray can fall into the wrong hands and cause problems for you and/or your business. 

Hackers are growing more sophisticated all of the time. As new methods to keep them away are created, so too do they come up with more methods to uncover your data. Therefore, it’s very important that you do all you can to keep your data safe when using an asset tracking system. 

We’ve all heard about cyberattacks that have caused major issues for large organisations. We’ve all seen the damage that these attacks have done. Working to keep yourself safe from cyberattacks and data breaches is possible if you know how.

It goes without saying that you want to keep your data safe while using tracking software. The good news is that any modern asset tracking system is likely to have features and functions that keep your data safe. In fact, a modem asset tracking system will continuously identify and eliminate any risks that it finds. The only issue here is whether you use a tracking system that offers this level of security. 

When you use asset management to its full advantage it’s likely that you’ll be tracking your assets in real-time. This data is very valuable to any business no matter its shape or size. Should the data fall into the wrong hands it could result in you saying “goodbye” to those assets. When the wrong people know where your assets are and they know how they are tracked, they could take your assets and remove the tracking tag. This is why it’s imperative that your data is as secure as it possibly can be.

A lot of businesses use an asset tracking system to help them compile data. Data such as this could include sales figures, shareholder information, and the account numbers you use when purchasing goods from suppliers. 

Imagine if this information was stolen. Hackers could purchase goods using your money and have the goods sent to their chosen location. Shareholder information could be made public or used to the hackers’ advantage, and so on. This is why it makes sense to ensure you only ever use an asset tracking system that works hard to keep your data safe. However, you don’t just want a tracking system that says it will keep your data safe. You should ideally use one that updates its security frequently.

As we have already seen, it’s important that you always use asset tracking software that has good security. Some of the features that the most advanced tracking software uses include:

• Fixed and non-fixed asset location tracking – Even non-fixed assets can be tracked so you know they are where they should be at all times. 
• Asset checking in and checking out function – This helps to increase security and for example, it can prevent laptops that contain important data from going missing.
• The ability to assign assets to a specific person – This allows for even better tracking and keeps important data out of the wrong hands. It also means that should an asset go missing, you know who the last person to use it was. 
• Barcode and QR code asset tagging – This feature allows you to track assets 24/7.
• Public profiles – Creating public profiles shows others that you’re operating ethically. When this data is in the public domain, it can help to prevent hackers from trying to access it in the first place. 
• Bulk actions – Wish to unassign many assets? Use the bulk actions feature to quickly do just that. Alternatively, you could make sure that many of your assets are only available when a specific password is used. However, it would not be wise to use the same password for more than a few of your assets.  

Each of the above features can help to keep your assets safer which means your business could be at less risk. 

Hackers will always look for the weakest link in any business. If you use a tracking system that has few to no passwords or you have no antivirus software, hackers could gain access. Additionally, there is always the risk that hackers will gain access and initiate a cyberattack. Keeping your assets safe via a secure asset tracking system and using multiple passwords alongside some antivirus software can lower the risks. 

Wish to speak with an expert about keeping your data safe while using an asset tracking system? Contact us at team@itemit.com. 

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Replacing equipment can seem unduly expensive. Trying to salvage a broken down asset often has good results, however, this is not always possible. Some equipment may be too damaged to repair so it needs to be replaced. 

Here is where having an effective equipment replacement plan can help. If you have already used pre-emptive maintenance to its full advantage there may be nothing else you can do. Therefore, it may be time to use your equipment replacement plan to its full advantage. 

But what exactly is an equipment replacement plan? Let’s take a look so you can create one and use it to its full advantage.

The very first thing you need to do is to pin down your budget. In other words, work out how much you can spend on equipment replacement after pre-emptive maintenance and other methods have failed. 

It’s thought that approximately 1.5% to 4.6% of your yearly revenue budget should be spent on replacing your equipment. However, every 7 years or so, you may need to spend as much as 12%-15% on replacing equipment. If you purchased a lot of assets at the same time, they may break down at the same time. Try to prevent big spending by using pre-emptive maintenance so your assets are less likely to break down.

Keeping detailed records of how much you have spent on your equipment is important. Add information such as the costs of pre-emptive maintenance and replacement parts. When you keep a record of information such as this, you can see what the costs are for each vehicle, computer, machine, and so on. When you know how much a machine, for example, costs, you’ll have a better idea about whether it should be replaced or repaired.

Once you know how much it will cost to replace broken down machinery, computers, etc. you can assess the need to replace it. Your assets, no matter what they are, can fit into 1 of 3 replacement categories. These categories are: 

• 1. Critical 
• 2. Moderate
• 3. Low

You could rank all of your assets as soon as everything has been added to a category. When you know how important it is to replace something you know which direction to take with it. For example, if an asset is in the critical ‘box’, you may need to replace it ASAP. If something is in the low ‘box’ you could replace it within the next month or so.

Now you know when you need to replace something it’s time to work out the cost of doing so. Get quotes for the replacement equipment. Do this for equipment in all of the above categories. Your assets can it into 1 of 3 cost categories:

• 1. Low cost
• 2. Moderate cost
• 3. High cost

As soon as you have assessed the need for equipment replacement and you understand the cost it’s time to work out exactly when to replace it. Take the number of the equipment replacement box, for example, “2. Moderate” and the cost box, for example, “3. High cost”. 

Add the numbers together, they should be anywhere from 2 to 6. When you have an asset that scores 2, it means it needs to be replaced quickly and the cost is low. If an asset has a moderate replacement need and a high cost the score will be 5. The lower the score is, the better, of course. 

Now you have this information you can compare it to the asset’s life span. This can help you to make your replacement decisions.

The final step is to formulate your plan. You’ve added the numbers, you’ve completed pre-emptive maintenance and you’ve pinned down your budget. Now it’s time to share it with those who need to see it so they can have a say if needs be. For example, someone may think that it’s more important to replace a computer than it is a vehicle. They may also be able to get a much cheaper quote. 

As soon as everyone has had their say, it’s time to work out when to purchase your new machine and have it delivered ASAP. Reducing downtime is a priority here so the sooner your machine is with you, the better. 

Once your plan has been formulated and worked out, you can use it the next time something chooses to break down. As we all know, this is likely to be when you have a large order or when you’re extremely busy. In any case, if you have an effective equipment replacement plan to hand, replacing equipment will be much easier. As a result, you can complete important tasks sooner and keep your business running smoothly. 

Would you like to speak with an expert about creating an effective equipment replacement plan? Contact us now at: team@itemit.com.

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