How To Make Auditing Easier With Tracking Software

How To Make Auditing Easier With Tracking Software

How To Make Auditing Easier With Tracking Software

Audits can be laborious and hard to complete. However, when you use tracking software along with an easy-to-use asset register template, you are onto a winner. Without further ado, let’s take a look at how you can make the auditing process much easier.


The Importance of Asset Tracking to Your Business

Add everything to your new asset register template, this is the first step that you need to take. Walk around your facilities and see what you have. Include every single thing. 

As soon as you have everything your asset register will be more accurate. This means that your audits will be more accurate. A direct consequence of this is that auditing will be so much easier. This is why more businesses are now using tracking software. You just need to make sure you do the same while using a template you’re happy with. In other words, you need to use tracking software/a template that has a good UX (user interface) while offering you the features you need.

Did you know that some templates allow you to collect data that can be exported as a report? Imagine having access to all of your data. Auditing will be far easier and much less of a headache.

Business Asset Tracking

Add A Wealth Of Information

Every single asset that you own has a name/make and serial number. Many people may refer to assets such as computers as “computer 2”, “laptop 3”, or “the big computer”, and so on. However, this is not specific enough for your new tracking software. It’s likely that your asset register template will allow you to add information to each asset’s profile. This can only be a good thing as it means you can easily identify every single asset. Additionally, you can add useful information such as maintenance schedules and PDF manuals or links to online manuals, etc. 

You could also add every asset’s:

  • Time and date of purchase
  • Price at purchase
  • Model number and colour
  • Important reminders
  • Computer updates record

And so much more. Did you know that the more information you add, the better it is for you? It means that you have more information to hand, whenever you need it. In other words, you may not have to go searching high and low for the instruction manual or insurance details.

Understanding Asset Depreciation

If you have never completed an audit before you may not know about depreciation. To put it simply, over time, every asset will depreciate (or go down) in value. As a result, your audit will be affected. The good news is that there are two popular methods of dealing with the depreciation. You could use the Written Down Value or opt for the straight-line value/method. You should be aware that there are other methods you can use. However, the above two tend to be the most favoured. 

Now it’s time for you to add the depreciation to your tracking software. When you do, you will have the information you need to hand, when you need it. This could potentially save you a lot of time.

Understanding The Valuation Confirmation

The third step in the audit process relates to confirming your valuation. Here, it would be helpful if you had an inkling as to how much value your assets have. When you calculate the depreciation you’ll have a good idea. Hopefully, you would have already added the depreciation values to your new asset register template. 

Make sure that you are fully aware of the important regulatory requirements. You should have already worked with these requirements in mind. If you have, your audit is much more likely to be accurate. This can only be a good thing.

itemit asset tracking software logo

Increasing The Accuracy Of Your Audit

As we have just seen, you can make sure your audit’s accurate by sticking to those important regulatory requirements. However, what you may not be aware of is that your asset register template/tracking software can also help with this. 

When you have completely worked out the value of every single asset, you’re onto a winner. However, doing so could be so much more difficult if you do not use tracking software. Earlier in this post, we looked at adding the depreciation to your tracking software. It’s this that can help you to increase the accuracy of your audit. This is simply because you will have the figures you need to hand. In other words, the guesswork will be taken out of everything. 

Not many people take pleasure in auditing their business. The good news is that when you use tracking software you can make the process easier. All of your assets will be listed in the software, including each asset’s depreciation value, and much more. Consequently, you can make the whole auditing process less of a headache.

Considering talking to a professional about making auditing easier by using tracking software? Contact us now at team@itemit.com

The Ultimate Guide to 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

The Benefits Of Asset Tracking For Small Businesses

The Benefits Of Asset Tracking For Small Businesses

The Benefits Of Asset Tracking For Small Businesses

Small businesses everywhere are now making the most of asset tracking solutions and all that they have to offer. Tracking solutions such as these have to be very beneficial for businesses of all shapes and sizes. It doesn’t matter what you do or how long you have been trading for tracking solutions can work well for you. In fact, there are many benefits associated with using asset tracking. This article takes a look at just some of the benefits that can make your life easier.

All Of Your Assets Can Be Accounted For

Did you know that when you use asset tracking solutions all of your assets will be accounted for? You will be able to see where every single asset is, all of the time. You can see which asset is being used by which department, and even by which person. You can even assign assets to particular team members, should you need to. 

When you can account for all of your assets, all day every day, you can have a better idea of how your business is running. You can also understand whether you have enough assets to go around.

Business Asset Tracking

You Can Monitor Everything More Closely

The ability to monitor everything closely means that you have a better idea as to whether assets are being lost or stolen. You can see at the touch of a button whether each asset is where it should be. 

Not a lot of people are aware that when you use asset tracking solutions instantly boost your security levels. A direct result of this means that you could spend a lot less money, trying to replace or find lost or stolen assets.

Should something go missing, you can potentially see where it is located. However, to do so, you would need to fix a QR code, a barcode or an RFID tag to the asset in question. This is something that you need to be able to do so you can use asset tracking software. The good news is that the right tags may be provided to you when you sign up for some tracking software.

Incidences Of Human Error Are Reduced

Did you know that incidences of human error can cause a lot of problems in the workplace? If you use a spreadsheet, for example, it’s likely that it is full of human errors. No matter how hard you or your team may try to reduce errors, some will always occur. 

When you start using modern and completely reliable asset tracking solutions, human errors are no longer of concern. This is simply because the software that you use will do all the hard work for you. The software will do exactly what it is programmed to do, and, therefore, not make any mistakes. Consequently, you could have a much better picture of your business as a whole. As you can imagine, this can only be a good thing.

Your Assets Are Taken Care Of

When you start using the tracking software for the first time, you will create digital profiles for every single asset. Upon creating the profiles, you may be given the opportunity to set up a maintenance schedule. Every asset can have its own schedule, ensuring that it is examined and maintained regularly. What this means is that you can get used to having assets that work well most of the time. Should there be an issue, you can alert the maintenance team so they know what they need to repair next. You can do this via your software. When you make taking care of your assets relatively easy, they are less likely to break down.

itemit asset tracking software logo

Assets Can Be Tracked 24/7

The fact that you can track your assets, 24 hours a day seven days a week is wonderful. You can see where they are all of the time. A boost in security is also really convenient. You may no longer need to traipse around a huge warehouse or factory floor trying to locate an asset. You can see where it is within moments, ensuring you can retrieve the asset and get on with the job at hand. 

When you create a digital profile, and add an RFID tag, etc. to your assets, your new software will automatically start tracking it. Tracking all of your assets is easy if you use the right asset tracking solutions.

 

Wish to talk with an expert about using asset tracking solutions to help your small business? Contact us today at team@itemit.com.

The Ultimate Asset Tracking Solution For Small Businesses

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

IT Asset Inventory Made Simple

IT Asset Inventory Made Simple

IT Asset Inventory Made Simple

If you would like to make your IT asset register more organised and easy to access, you’re in the right place. Making sure that you have an inventory that’s simple to use may seem complicated. However, this is not the case at all. When you have the right tools and the right software you can make it very simple. The only trouble is that not everyone knows how to do this. Don’t worry, this article will take you through exactly what you need to do.

What Is An IT Asset Inventory?

An asset register inventory is a type of software that includes all of your IT assets. Your inventory could include all of your laptops, smartphones, desktop computers, and your tablets. Your inventory could also include your printers, cables, spare monitors, 3D printers, modems, fax machines (some people still use them), and much more. Ideally, you will find everything that’s related to your computers, etc in your inventory. 

The ideal IT asset register will be updated whenever you purchase something new. Let’s imagine that you have bought 20 new tablets for your team. The tablets should be added to the inventory. You can even add information such as which particular team is using them and why. In fact, the more information you add to your inventory, the better. Doing so can save you some time in the future.

Business Asset Tracking

How To Make an Asset Inventory

Making an asset inventory is relatively easy. Firstly, you need to attach a QR code, RFID tag, or a barcode to each asset. The next step is to scan the code so that a digital profile is created. That profile is specific to the asset. Now, add as much information about the asset as you can. You could, for example, add the laptop’s serial number, warranty details, estimated value, insurance details, and even a photograph. Also, add a link to the instruction manual if there is one. When you add information such as this it helps your IT asset register to be a little more complete.

The Benefits Of Using An Inventory

There are many benefits associated with using an inventory to help you keep track of your IT assets. Some of the benefits include:

  • You will know who’s using your laptops, etc if you use the check-in feature 
  • Tracking the location of everything is very easy
  • You can access your IT asset register via a web portal and Android and IOS apps
  • All of your assets can be organised into collections 
  • It’s possible to use bulk actions for quick updates
  • Reporting issues with any asset in the inventory is simple 

And so much more. You’ll soon discover all of the benefits that come with using an IT inventory.

Increasing Productivity

Did you know that when you create an IT inventory you increase productivity? This is because much of the information you need will be in the palm of your hand. In addition to this, you could find that a lot of those small tasks (such as ticking boxes) are done automatically. What this means is that you could get on with other more important tasks. A direct result of this means that productivity is increased. This is another benefit associated with using an IT asset register every day.

itemit asset tracking software logo

How Security Is Automatically Increased

When you choose to create an IT inventory you automatically increase security. You do this without taking any extra steps. This is one of the major benefits of using any type of IT asset register. However, to achieve this you do need to make sure that you attach an RFID tag, barcode, or QR code to each asset. You need to do this anyway so that you can track your IT assets. 

When you create that all-important digital profile you help to increase security right away. This is because all of your assets are immediately tracked. What this means is that they can always be found. You no longer need to guess where your assets are. You can see their location within a few seconds. Simply log into the tracking software and click on the asset you wish to find. You’ll then be shown its last-known location. Alternatively, you could log into the software and see where every asset is. 

So, what does this mean from a security point of view? It means that you can always see where every asset is. If, for example, some of your tablets go missing, you could locate them quickly. A direct consequence of this is that you may no longer need to buy replacement tablets. Therefore, you could save quite a bit of money and this can only be a good thing.

Wish to chat with an expert about making your IT asset register simpler? Contact us now at team@itemit.com.

The Best IT Asset Register 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

Keep Your Production Line Running: Use Fixed Asset Tracking

Keep Your Production Line Running: Use Fixed Asset Tracking

Keep Your Production Line Running: Use Fixed Asset Tracking

Production line equipment can be quite costly. Having the right production line equipment is crucial as it ensures that you can keep the line running at all times. However, even when you have the right equipment problems can still be caused. Things can break down, delays can occur, and you may even run out of supplies. While the lack of supplies is not directly caused by the production line, it can create huge issues. The great news is that all of this can be resolved if you use a fixed asset register. 

Let’s take a close look as to why having this type of asset register can make all the difference.

Have An Effective Maintenance Schedule

One of the main things that an asset register can help with is the maintenance schedule. When you have a schedule such as this, your equipment could be in better condition. Imagine being able to have a schedule for all of your equipment. You and your maintenance team could receive an alert when some machinery, for example, needs to be looked at. The alerts can arrive at your chosen intervals so everything is examined quickly. A direct consequence of this is that you will have a production line that runs more smoothly. This can only be a good thing as it means fewer things can go wrong. 

Did you know that should something go wrong you can alert your maintenance team via the register app? When you do, the team can deal with the problem sooner rather than later.

Business Asset Tracking

Successfully Reduce Downtime

When you have an effective maintenance schedule you can reduce downtime. You have no doubt experienced those occasions when at least one line has been down. A result of this means that orders may not be fulfilled as and when you please. In fact, there’s always a chance that deadlines may not be met. This is where using a fixed asset register can come in and make a real difference. 

We have already seen that using a maintenance schedule means everything is in better working order. When everything works well you can say “goodbye” to regular downtimes. In other words, your production line is much more likely to work well, more often.

Closely Monitor Inventory Levels

Did you know that one of the perks of using a fixed asset register means you can monitor inventory levels? You can see what you have in stock and even where it’s stored. You could ask your team to order stock when you notice you’re running low. Alternatively, you could let your register software do it for you, saving you time.

Efficiently Organise Your Warehouse

With the help of a fixed asset register, you could efficiently organise your warehouse. You could even see if a team member has removed an asset from your warehouse. In addition to this, you could locate your assets/stock much more quickly using the location tracking software. This feature could be embedded in your asset tracking software, depending on which brand you use.

itemit asset tracking software logo

Keep Production Line Equipment And Supplies Secure

Regardless of which industry you work in, it’s likely that you’ve noticed supplies going missing. Whether it’s team members or contractors taking your supplies, it has an impact on your business. The great news is that when you use a fixed asset register you can track everything. You could see where your supplies are and who has them. You could see whether they are located in your warehouse or if someone has taken them. 

There may be occasions when supplies get lost. However, when you use tracking software you can locate them. This is thanks to the QR code or barcode that you affix to your supplies. You can keep everything more secure. What this means is you may not have to spend too much replacing lost or stolen assets or supplies.

Enjoy Receiving Real-Time Updates

When you use asset register software to its full advantage you could receive real-time updates. You could see how much stock you have, whether orders are complete, and what you’re working on next. All of this data, and so much more could be readily available to you. Depending on the asset register software you use, you could export all of your data. You could have reports in front of you, showing you how things are going. 

Accessing the updates via laptop, tablet, desktop computer, or smartphone may be possible. It’s these updates that could be exported and printed off. When you have the ability to do this, you have the ability to see whether your business is running effectively. Keep your production line running by using asset tracking software that works hard for you. 

 

 

Wish to chat with a fixed asset register expert about keeping your production line running? Contact us at team@itemit.com

The Ideal Fixed 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 Track Your Heavy Construction Equipment

How To Track Your Heavy Construction Equipment

How To Track Your Heavy Construction Equipment

It’s imperative that you keep track of all of your heavy construction equipment. When you do, you will have a better idea of where everything is all the time. In addition to this, when you use the right equipment tracking software you can see who is using what. You could even see whether your heavy construction equipment is in good working order or otherwise.

But do you know how to track all of your equipment? Do you know that it’s actually easier than you think? Read on for more information.

Why You Need To Use Equipment Tracking Software

Ultimately, you need to use tracking software, so you can see where all of your construction equipment is at all times. This is very important because you need to know that the right equipment is being used in the right location. You also need to know that everything you are tracking is in safe hands.

When you use tracking software rather than old-fashioned spreadsheets, everything will be much more accurate. There will be no human errors and your software will update all of the time. This means that if one of your team members chooses to update the software with some information you will see the information yourself in no time. So, you could be using a tablet and your team member could be using a laptop, a mobile phone, or a desktop computer. When they update information, regardless of the medium, you will see it updated in no time at all. This could prove to be very useful, especially if you need to order more machinery. 

Did you know that when you use reliable equipment tracking you can export reports based on data? The data that you export can give you an accurate picture of your construction business. In fact, it may be the most accurate picture that you have ever seen.

Business Asset Tracking

How To Track Your Heavy Construction Equipment

Tracking your construction equipment is easier than you think. All that you need to do is:

  • Attach a QR code to your equipment 
  • Scan the QR code to open up a digital profile 
  • Add information about the asset to the profile 
  • Get used to using better equipment tracking software. 
  • Track the location of your heavy construction machinery and tools right away 

As you can see, tracking everything is easier than you might think. All you need to do is add everything to the software and you’re good to go.

Using The Latest Tracking Software

Using the very latest construction equipment tracking can help you to get more done in no time at all. In addition to this, you can rely on the software to do all of the hard work for you. In fact, it can help you to tick those boxes and thereby save you a lot of time. 

When you use the latest software, you know that you’re in good hands. You will be able to track all of your construction equipment all day, every day. You can even see who is using which digger, for example, and how long they have been using it for. All of the information that you need will be in one place and ready to access when you need it.

Improving Tool Recognition

If you have ever had difficulty knowing which tool or piece of equipment is which, you’ll appreciate modern tracking software. Software such as this allows you to understand the difference between tools. You could, for example, add photos of all of your tools. You could also add notes that mention how different equipment is. When you do all of this and more you make your life easier.

itemit asset tracking software logo

Boosting Health And Safety

You are no doubt aware that it is important to keep the level of health and safety standards very high. The good news is that when you use some modern equipment tracking software it makes sticking to high standards easier. 

When you use software such as this, you can maintain high standards. This is simply because you can set maintenance reminders so that everything is a good working order more often. What this means for you and your team is that everything such as equipment, tools, and more could be in a better state of repair. Not only is this from a health and safety perspective but it’s also good in terms of reduced spending. Realistically you could spend less replacing assets that have broken down. This is simply because they are less likely to break down as you will be taking good care of them. 

Just make sure that you send a maintenance reminder for every bit of equipment and each of your tools. This will ensure that you can stay on top of maintenance.

 

Wish to speak with an equipment tracking expert about tracking your heavy construction equipment? Contact us today at team@itemit.com.

The Ideal Way To Track Your Construction Equipment

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

Why Managing Facilities Is Better With An Asset Tracking Tool

Why Managing Facilities Is Better With An Asset Tracking Tool

Why Managing Facilities Is Better With An Asset Tracking Tool

When you have buildings and grounds to take care of you know there are a lot of tasks to undertake. Not only will you need to make sure that the grounds and buildings are in good condition, you also need to take care of equipment. This can be quite a lot of work and it, therefore, makes sense for you to use an asset tracking tool to help. The good news is that there is a tracking tool available.

What You Need To Track

When you consider what your assets are there may be things that you may not automatically think of as assets. For example, meeting rooms, outbuildings, break areas, furniture, and whiteboards. You also need to consider assets such as hand driers, soap dispensers, and everything in between. These are all things that need to be added to your new asset tracking software. Don’t forget that you also need to consider the plumbing paraphernalia, electrical systems and everything that’s related. In other words, there’s quite a lot for you to track. This is why it’s so important that you need to use a tracking tool that can help you.

Business Asset Tracking

The Modern Asset Tracking Solution

These days, we are looking for a more modern solution to our working lives. We are looking for something that could potentially make our lives easier. This is where using an asset tracking tool can make a world of difference. 

In the past, you may have used (or may still be using) a spreadsheet to help you track your assets. However, a spreadsheet can be full to the brim with errors. This could also be the case if you track your assets via a notebook, a log book, or any other basic method. The great news is there is a modern tracking solution available. This solution is available in the form of tracking software that is cloud-based. All of the information that you need to track and locate your assets is based in the cloud. Consequently, it means that you can have access to your asset’s information quickly and easily. If this was not enough, cloud-based tracking software tends to be more reliable. 

Imagine being able to gain access to your asset list within a few seconds. You could see which assets are being used, the maintenance status, and more at the mere touch of a button. All that you need is access to the internet. Simply use your phone, tablet, laptop, or desktop computer. Log in no matter where you are, and track those assets easily.

The Management Of Issues

How many times do you have to deal with asset-related issues? It’s likely that some issues crop up at least 2-3 times a day if you manage one facility. If you manage more, you’ll probably have a long list of issues. The really good news is that when you use an asset tracking tool, you could find managing issues much easier. 

The reason why managing issues becomes easier is thanks to the ability to set maintenance reminders. You can set reminders at an interval of your choice. When your maintenance team receives a reminder they know what needs to be examined and possibly repaired. A consequence of this is that your assets could be in much better condition all of the time.


Did you know that you and your team could also report issues easily? All that you need to do is to leave a message for the maintenance team. Do this via the tracking software so that the maintenance team can see when the message was written and whether it has been actioned. When you use this feature you can keep on top of any issues that crop up.

Access To Important Data

Wouldn’t it be helpful if you had quick access to important data? Imagine being able to gather all of the data that your asset tracking tool recently produced. You could print it off in the form of a report so you can examine how your facilities are being run. You could also see whether you have enough assets or if you have a long list of assets waiting to be maintained. 

When you use a modern asset tracking tool you could have access to important data. You could even choose which data you would like to download. There’s a real potential for you to see what’s what, and within a short space of time. When you use a tracking tool that has this option you could gain a lot of useful information from the data. Imagine being able to read a report that you exported. You could use the data to help you get the most out of your assets. You could also use the data to help you run your business even more effectively. All of this is do-able if you use a tracking tool to help you manage your facilities. 

Would you like to chat with an asset tracking expert about using a tracking tool to help with facilities management? Contact us today at team@itemit.com.

The Ideal Facilities Management Tool

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