An Introduction to Hardware Asset Management

An Introduction to Hardware Asset Management

An Introduction to Hardware Asset Management

Here at itemit, we understand the importance of hardware asset management. Managing your assets can help to reduce costs, boost productivity, and help you to track all of your assets. Asset management can ultimately save your company both time and money. Additionally, this form of asset management can be applied to all types of hardware assets.


What is Hardware Asset Management?

Hardware asset management is a way for businesses to have better accountability and transparency. With the ability to assign assets to specific users, this type of asset management can be easily integrated into the working day. In addition to this, asset management can also be used to track an asset’s life cycle.

Business Asset Tracking


A Few Benefits of Hardware Asset Management

Managing hardware assets can seem quite complicated. However, when assets are managed correctly, the process can seem distinctly easy. 

Some of the benefits associated with using itemit’s asset management software include:


The Ability to Add Reminders

Adding reminders allows for routine maintenance to become the norm. For example, it is possible to book PAT tests and schedule regular maintenance. This in itself can help assets to maintain a good state of repair at all times. As a result of this, hardware assets are much more likely to last longer. If this was not enough, when a business has assets that are correctly maintained, the cost of replacement assets is lowered.


The Ability to Report Issues

Should an issue arise with a hardware asset, users of itemit’s software can report it. This can result in the asset being repaired quickly. Not only can this save costs, but it also means there may be more assets available at any one time. Assets that are no longer working as well as they should can be repaired. The number of assets that are out of action falls. team members can, therefore, complete their tasks more efficiently.


Being Able to Retrieve Financial Information

When a hardware asset is entered into itemit’s menus, financial information can also be added. Users can see information such as the asset’s:

  • Purchase price
  • Depreciation value
  • Current value 
  • Estimated resale value
  • Warranty and insurance information 
  • And much more

When it’s possible to quickly access all of the above information it makes understanding a business’s financial position easier. If this was not enough, users can also create customised reports detailing some or all of the above information. The reports can then be exported to the finance department or the relevant team. 

When a business has quick access to such information, it’s easier to see how well the business is performing. Users may also be able to see where improvements can be made. At a touch of a button, the much-needed information can be retrieved and shared. This is not something that many asset management tools can do.


Being Able to Accurately Track Each Asset’s Location

itemit’s hardware asset management tool comes with a huge advantage. It allows users to accurately track each asset’s location. Users can quickly log into the system and see where the assets are at all times. 

As a result, assets can be retrieved easily. In addition to this, it’s possible to track assets as they move between locations. Management can ensure that assets are only ever sent to the correct locations. This means that every team member is more likely to have the tools they need. However, it also means that team members are much more likely to get their tasks completed. 

As you can see, it is possible to use itemit’s hardware asset management software to monitor all of your hardware assets. Businesses of all shapes and sizes can begin to monitor their assets in multiple ways. As a result, more tasks will be completed, costs can be cut, and businesses can become very organised.


Let itemit Help You To Track Your Assets

Here at itemit, we know how important it is for you to track your hardware assets. Our software can make your working day a much easier and more effective one. Businesses everywhere have started to benefit from the features that our software provides. 

You too can make full use of hardware asset management. Talk to our friendly and knowledgeable team today. You can reach them at: team@itemit.com. Alternatively, you could sign up for a 14-day free trial to find out just how easy and effective it is to track your hardware assets. Fill in the form below to get started and begin to reap the rewards that come with managing your assets.

Hardware Asset Management

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

An Asset Tracking Guide for Busy Professionals

An Asset Tracking Guide for Busy Professionals

An Asset Tracking Guide for Busy Professionals

Busy professionals don’t have time to manually track their assets and nor do they need to. You no longer need to worry about locating where that much-needed piece of equipment is or digging out exactly when that critical software expires. Asset tracking software does the legwork for you.


Who Needs Asset Tracking?

Any organisation with fixed assets can benefit from asset tracking. Fixed assets are tangible assets purchased by an organisation as a long-term investment. Often they support the operations and are not intended for sale. An asset tracking system makes it easier to maintain up-to-date fixed assets records that are needed for calculating taxes and ensuring insurance coverage. 

No matter the size or nature of your business, asset tracking can benefit your business by providing you with the information you need to make smarter strategic decisions.


The Uses of Asset Tracking Software

Asset tracking software is most commonly used to track the following assets:

  • IT equipment (e.g., laptops, printers)
  • Vehicles
  • Medical equipment
  • Maintenance supplies
  • Educational materials
  • Lighting
  • Instruments

But everything a company owns can be tracked, from software to hardware, and even licences. Asset tracking software is not only used to track the whereabouts of physical assets but can also be used to log when updates, upgrades and repairs are due as well as when licences expire so you never risk running into asset downtime.


How to Save Time With Asset Tracking Software

Busy professionals don’t have time to be labouring over endless spreadsheets or crunching numbers themselves. This is where asset tracking software can save you time, giving you back the headspace to consider the bigger picture. Here are the top ways asset tracking software can save you time…


Fast Physical Inventories

Trying to track down that one piece of equipment you need is a long, dull and unnecessary process. Creating a baseline inventory of fixed assets is a daunting task for many organisations but it’s a task in the long run you’ll thank yourself for doing it. Maintaining an up-to-date inventory will ensure you can locate your assets when you need them, helping to speed up all downstream processes.

 Once you know how many assets you have, where they are located, and the condition they’re in, you’ll only need to periodically verify the accuracy of your records. The time freed from dull manual labour processes will give your and your team more opportunity to engage in more meaningful business activities.

 


Ongoing Asset Management

Asset tracking software offers automated solutions that can greatly speed up mundane and repetitive tasks such as moves, adds, and changes to your inventory. Ditch the spreadsheets and opt for software that can track the life cycle of your assets and notify users when maintenance is due. As advanced as spreadsheets have become they are still largely a manual process, meaning they are highly error prone and not ideal for long-term data storage. They also don’t guard data integrity and offer little to no protection from data corruption. Less manual work means fewer errors, greater accuracy and speedier operations.

With an automated asset tracking system, you can track asset movements more quickly and efficiently than with manual methods. Since automated asset tracking requires so much less effort, you may also find that you’re gathering more intelligence about your assets to better decide how and when they should be used.  


Eliminate Ghost Assets

A lot of time can be wasted by trying to locate ghost assets, that is assets that appear in your inventory but in reality do not exist either by being lost, missing or stolen. Incomplete and inaccurate fixed asset registers lead to ghost assets. To eliminate them it is essential that an asset register is maintained and updated. Of course, this is often easier said than done but asset tracking software alleviates the burden of manually updating your asset register. With cloud-based, online asset registers every time an asset is scanned its location is updated.


Exportable and Customisable Reports

Does generating customisable and easily exportable reports at the click of a button sound like a good idea to you? Well, it’s possible with asset tracking software. Asset tracking software can alleviate some of the burden of cost management and ensure organisations are getting the most out of their current inventory. The reporting capabilities of asset tracking software put it leagues above cumbersome and time-consuming spreadsheets. Using asset tracking software, you can identify misuse of funds, make more informed decisions, and improve your financial forecasting. Plus, you’ll have the knowledge you need to make accurate tax calculations and be compliant with your insurance.


itemit’s Asset Tracking Software

With itemit’s sophisticated asset tracking software all your asset tracking needs can be done within one, easy-to-access space. The simplicity of managing and storing your data from a single location leads to greater use and streamlined processes. By maintaining precise inventory counts in a central database, along with historical data, previous orders and other information you have every bit of data at your fingertips, enabling you to identify trends and make more accurate predictions to meet demands. Our asset tracking software solutions eliminate the cumbersome and unreliable manual methods, giving you back the time you need to invest in your business. 

To find out more about how itemit’s asset tracking software can help you track your assets, you’ll can contact the team at team@itemit.com. You can also fill in the form below to start your own 14-day free trial.

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

One App To Rule Them All: itemit Simplifying Equipment Tracking

One App To Rule Them All: itemit Simplifying Equipment Tracking

One App To Rule Them All: itemit Simplifying Equipment Tracking

Here at itemit, we know how to keep equipment tracking simple. We understand that you don’t need complicated apps to help you track your equipment. This is why our easy-to-use app is kept as simple as possible.

Thanks to the way that our app works, you too can make use of all that it has to offer. 

Below, you can find just some of the benefits that come with using our trusted and reliable tracking app.


Book Equipment In Advance

You and your team can book equipment in advance at the touch of a button. Users don’t need to guess who has the equipment. Simply logging in to itemit’s menu will show you who has the equipment in question.

Should you need to use the equipment, you can book it right away, Other app users will see that you have put in a request for it. 

This feature alone can help to cut waiting times. It can also help to reduce the need to physically search for the much-needed equipment. Within moments, it’s possible to see where the equipment is and who has it.

Business Asset Tracking


Report And Manage Issues

Being able to report and manage issues via our equipment tracking app is a huge advantage. Should an issue arise with their equipment, users can scan the QR tag assigned to the asset and create a ticket detailing their concern.

Photographs can be uploaded via the app so that it’s possible to see what damage has been done to the equipment. This helps future users and those who wish to repair the equipment to see what has gone wrong. 

Issues that arise can also be managed via our app as the maintenance crew can see what issue has arisen. This allows the team to get ready to receive the equipment before they repair it. 

As equipment can be repaired as and when it needs it, equipment is likely to last longer. As a result, there are likely to be fewer issues. Additionally, fewer replacements will be required. This is simply because repairs can be carried out when they are required. 

 Equipment may no longer have to be set to one side to wait for its yearly maintenance. Rather, the issues can be uncovered and dealt with as needed.


Create An Accurate Asset Register

One of the major features of itemit’s equipment tracking is that it allows for the creation of an asset register.

Businesses of all shapes and sizes can create an asset register that can include:

  • Each asset’s name, make, model, and serial number
  • Every piece of equipment’s warranty and insurance details
  • The depreciation value and current estimated value of every asset
  • The last-known location, maintenance record, and any other details associated with each piece of equipment

There are countless pieces of information that can be added to the asset register. As a result, businesses can see how many assets they have and the business’s worth. This can prove to be invaluable. All of the information that you need about your equipment can be at your fingertips.


Track All Of Your Equipment

Equipment tracking has never been easier thanks to itemit’s location software.

It is possible for users to see where every piece of equipment is at all times. In addition to this, users can see where the equipment has been. 

The ability to detect the location of every piece of equipment allows for better retrieval. Additionally, ghost assets can be a thing of the past.


Gain Access Online And Via An App

Thanks to the way that itemit’s equipment tracking software works, users can gain access easily. Our trusted and easy-to-use app is ideal for those who are on the move. With the touch of a button, users can check their asset register.

However, it’s not only our app that helps to simplify equipment tracking. Our online portal also works effectively. Those who work at a computer can gain access via their desktop or laptop computer. Access is quick and easy. Users can access as much detail about their equipment as they can via the app.

As a result, it is possible to track your equipment all day, every day. If you want to keep things simple, all that you have to do is use our app.


Use itemit’s Equipment Tracking App

There’s one app to rule them all. itemit’s equipment tracking app is here to make life much easier. Find out just how well the tracking app works for you by reaching out to our helpful team today. You can reach our team at team@itemit.com

Alternatively, you could start a 14 day free trial to automatically find out just how well our app works for you. Fill in the form below to get started.

Equipment Tracking

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

How Can An Asset Register Be Useful For Your Business

How Can An Asset Register Be Useful For Your Business

How Can An Asset Register Be Useful For Your Business

Too many businesses are still relying on spreadsheets to count their assets or, even worse, don’t keep track of them at all. Assets are at the core of any business, they keep things moving and, often quite literally, keep the lights on. So it’s about time businesses started to track, monitor and appreciate the value that their assets bring. The answer to how to do this is simple: keep and maintain an asset register. Asset registers can make a big difference to how a business operates by streamlining their financial auditing, maintenance processes and ensuring a business knows what it truly owns.


What Is An Asset Register?

An asset register is simply a detailed list of assets that a business or organisation owns. It includes details on assets such as location, condition, and owner. Asset registers are an incredibly useful tool for representing a business’s investments and provide information on the most important features of your assets.  

Your asset register should contain specific asset data such as:

  • What is the asset
  • Asset status
  • The exact location of each asset
  • Procurement details including purchase date and price
  • Estimated life expectancy
  • Depreciation value
  • Insurance and compliance details
  • Maintenance history including repairs and downtime


The Benefits of an Asset Register

Asset registers lay the foundations for a smooth and robust business. Discover all the benefits an register could bring to your business:


Accurate Financial Reports

You can’t expect to produce accurate financial reports for your business without an up-to-date asset register. Maintaining an asset register means you can always follow a clear audit trail and obtain accurate financial reports. With online asset registers your business will be able to identify bottlenecks, make more informed decisions, improve delivery and generate reports at the click of a button. Updating your asset register is simple, you can easily log dates that assets have been purchased, inspected, and checked in or out by staff. 


With itemit you can view your entire asset register in one place and pull all the information together into customisable and exportable reports, helping you to pass those financial audits with flying colours.


Estimating Maintenance and Repair Costs

You can utilise an asset register to estimate maintenance and repair costs of your assets. During the operational phase of an asset’s life cycle, it is important to keep on top of asset maintenance. Asset registers can help to evaluate when and how much so you don’t risk overdoing, and increasing costs down-the line, or under-doing it resulting in reduced productivity. Maintaining up-to-date records of assets helps to prevent asset downtime and calculate depreciation, which ultimately increases productivity and keeps costs to a minimum.


Eliminate Ghost Assets

It’s important that a business knows what it actually owns. If an asset register is haunted by a number of ghost assets then this can have a significant effect on financial assessments. Ghost assets can mislead companies to either over or undervalue their set of assets. This can result in overpaying taxes, higher insurance premiums, inaccurate fixed asset reporting, and an inability to forecast accurately. All of this can affect regulatory compliance and place companies in a jeopardous position. 

 

Ghost assets also limit the productivity of a company. If your team believes an asset exists when it doesn’t then this can create operational bottlenecks. Alternatively, if an asset does exist but is out of action due disrepair then this can create delays and potentially increased expenses.

 


itemit’s Asset Register Solutions

itemit offers a simple solution to your asset tracking needs, with a fully-equipped suite of helpful features from a centralised dashboard to  check-in and check-out functionality, you can set up your own asset register in just a few clicks. An asset register provides your business with information it needs to ensure a healthy and productive operation. 

 

To find out more about itemit’s asset register solutions and how they can help you contact our team at team@itemit.com today. You can also fill in the form below to start your 14-day free trial.

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

How to Manage Your School’s Assets This New Term

How to Manage Your School’s Assets This New Term

How to Manage Your School’s Assets This New Term

Your school is undoubtedly under a lot of financial pressure. As the new term begins, it’s likely that you’ll do what you can to stick to the school’s budget. This can be difficult as there are more demands than ever before to provide high quality education to every pupil.

School asset tracking software is a tool that can prove to be priceless. Allowing you to track the school’s assets, you can potentially keep your budget on track.


Your School’s Assets

Every school is likely to have hundreds if not thousands of assets. These assets can be broken down into 3 types:

  • Software assets – Assets such as these can be very expensive. Software licences, for example, can be at least a few hundred pounds per year. Thanks to the way that itemit’s school asset tracking software works, it’s possible to keep track of your software assets. This feature allows you to understand when licences run out. It also allows you to reassign the assets with ease.  
  • Physical assets – Physical assets include textbooks, laptops, stationery, whiteboards, and other necessary equipment. Attaching a QR code to each of these assets means you can track the asset’s location and make use of itemit’s other features. 
  • Fixed assets – This type of asset relates to school buildings as well as air conditioning, lighting, and heating. Our school asset tracking software works to help you maintain these assets and keep track of how they are performing 

itemit’s school asset tracking software can help you to stay in control of every single asset. Our tracking software takes the guesswork out of managing the assets. Instead, you have the ability to monitor every asset 24 hours a day, 7 days a week.

Business Asset Tracking


Location Tracking

As soon as a QR code or RFID label is attached to an asset it can be tracked. As long as the asset remains in the system, it can be tracked all day, every day. Users of the software can see where the asset’s last known location is. This can prove to be particularly helpful when there’s a particular need for an asset such as a laptop or a textbook. 

When an asset is located, the code or label can be scanned. The information that has been added to the system will appear. Users can add more information, edit the current information, or leave a note. This will ensure that future users will have updated information about the asset in question.


Maintenance Features

From time to time, assets will fail to work as well as they should. Here is where itemit’s school asset tracking software can help. When an asset is not working as well as it should, users can alert the maintenance team via itemit’s menu. 

Additionally, it is possible to set maintenance reminders ensuring that all assets regularly undergo maintenance. This feature alone ensures that every asset is likely to last longer. This is thanks to each asset receiving the maintenance it needs, as and when it is required. With the ability to potentially reduce costs, assets are less likely to need replacing. As a result, your school’s budget can stay on track. 

The reminder feature can also be valuable as far as PAT testing reminders are concerned. All electrical assets need to be PAT tested regularly. itemit’s bulk reminder tool can help with this. Users of the software will receive an alert that PAT testing is due soon, helping to keep all electrical assets safe.


Accounting Features

Thanks to the way that our asset tracking software works, users can stay up to date with the school’s accounts. An automated and transparent register of every asset can be accessed at all times. Any changes that are made to the system will show in the register. 

Users can see the costs that are related to each asset. It’s also possible to understand when replacement assets need to be purchased. Additionally, the asset register can show insurance, warranty and tax details. This feature alone can prove to be hugely helpful. Users can see how much money has been spent and whether the school has exceeded the new term’s budget.


Use itemit’s School Asset Tracking Software

itemit’s school asset tracking software helps to provide schools with effective and useful asset tracking systems. Users can gain access to the software whenever they wish. This allows for successful asset tracking and maintenance. Add the accounting features to the equation and our asset tracking software can make tracking assets a breeze. 

To find out more about how our asset tracking software can help your school contact our helpful team today. You can reach them at team@itemit.com. Alternatively, you can begin a 14-day free trial and see for yourself just how much easier tracking your school’s assets can be. Fill in the form below to get started.

School Asset Tracking

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

5 Tips for Better Equipment Management

5 Tips for Better Equipment Management

5 Tips for Better Equipment Management

Your equipment is important to you, it’s important to your business. Knowing where your assets are and how they are behaving ensures your operations run smoothly and efficiently. But managing your equipment isn’t always so straightforward, there are many timely obstacles when it comes to equipment management. Ensure you get the most out of your hard-earned investments with our top tips for better equipment management. 

Why You Should Track Workspace Equipment


What Is Equipment Management?

Equipment management starts with equipment tracking. Equipment tracking is a way of keeping a record of everything a business owns and how it is behaving, allowing users to access the location of their equipment in real time. Equipment tracking relates to physical assets also known as tangible assets and works by attaching physical tags or barcodes to these assets. This enables the equipment to be tracked as each time the barcode or tag is scanned, the location of the asset is automatically updated in the online asset register. These kinds of assets include:

  • Appliances
  • Computers
  • HVAC equipment
  • IT equipment
  • Lights
  • Production equipment
  • Furniture
  • Copiers and printers
  • Safety equipment
  • Signs
  • Office equipment

 From a centralised online dashboard, users can view the status of each piece of equipment, its usage and assignment schedules, making managing maintenance and repairs a breeze.


Top Tips for Better Equipment Management

Here are our 5 top tips for managing your equipment:


Create An Inventory of Your Equipment

Your first task in productive equipment management is to develop an accurate and real-time inventory of your assets. Your staff should count all your equipment, photograph it, label it, and store all this information in a centralised online system, ideally cloud-based 

The advantage of the cloud is that the information is accessible at any time anywhere in the world, making it safer and more reliable. Information saved in the cloud is also much more resistant to disasters and data loss, which is pivotal to your organisation because you can’t afford to inventory equipment all over again.


Track Your Equipment

If you want to manage your equipment effectively you need to know where it is and how it’s behaving. Taking photos of your equipment and uploading them to an online register. Setting up your asset tracking system begins with tagging your physical assets. Choosing the right tag for your application is key to ensuring full functionality of your asset tracking system. It’s important to get to know which tag is right for your environment and needs. With itemit’s asset tracking software you can simply tag assets and scan, and even photograph them for instant recognition within an asset register.


Assign Assets to Users

Assigning important assets to appropriate users can help to protect your assets. An asset’s importance can be based on a number of factors, including its sensitivity, criticality, value, or the compliance requirements placed upon it. Important assets should be assigned to responsible people within your team who can then establish and maintain appropriate safeguards for those assets. This also helps to establish accountability and minimises the risk of loss, theft or unauthorised usage. With itemit’s check-in and check-out functionality you can ensure your assets are where they need to be and with the right people. When your team checks a piece of equipment in or out the asset manager is automatically notified.


Monitor Your Inventory

Tracking your equipment with asset management software allows you to gather lots and lots of data about your inventory. Utilise this data and take those insights to the next level by understanding how your equipment is working and behaving. 

  • How often do you use a particular tool or machine?
  • Who uses it? 
  • When do your employees use this equipment?
  • Where is it used? 

Answers to these questions can give you the visibility and control to make better strategy and purchasing decisions.


Predict and Schedule Your Maintenance

You can also leverage equipment management software to predict and schedule maintenance and repairs. Breakdowns can’t be avoided entirely and are often unexpected but you can plan for the things you can control like equipment servicing, and apply data analytics to monitor equipment performance and predict repairs. This information will aid in managing the associated costs and help to prevent spiraling bills. Storing details about the purchase date, warranty expiration date, together with the data about usage in an asset register can help you to prioritise repairing your most used equipment.


itemit’s Equipment Management Software

The operations of many businesses hinge on the smooth running of their equipment, which can make any asset downtime expensive. Managing and tracking equipment with asset software provides organisations with real-time location and usage data on their critical equipment. Organisations can leverage this information to plan, prioritise and schedule more effectively, increasing their operational efficiency and performance. 

Find out more about how our equipment management can take your business to the next level. Contact our friendly and helpful team today. You can reach them at team@itemit.com. Alternatively, you may want to consider signing up for our 14-day Free Trial to find out just how well itemit’s software can work for you. 

Equipment Management Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles