What is Inventory Management?

What is Inventory Management?

What is Inventory Management?

Inventory management is essentially keeping a log of your business’ assets so you can take stock of and see how these assets are behaving. This sounds simple but numerous logistical challenges can arise if it is not done correctly. 

The goal of inventory management is to have the right products in the right place at the right time. Good inventory management is critical to any business’ wellbeing since it provides the foundations for smooth and timely operations. By ensuring your records are accurate and your stock is replenished, inventory management enables your business to deliver what it needs to. Discover the difference it can make to your business.

The Best Asset Tracking Implementations And Use Cases


How Does Inventory Management Work?

Inventory management works by creating digital, online profiles of your assets. The process identifies and responds to changing stock levels to fulfil current needs and prevent shortages. With asset management software you can create a digital profile for each asset, in  this profile you can add information such as purchase price and date. Then, you’ll add QR code asset tags to the physical assets themselves. By doing this you will be linking the digital profiles with their physical counterparts. All you have to do is scan the tag to complete the link.

 You can use IT asset management software to automate how you track and manage your IT assets, too. Another benefit of IT asset management software is that you can use it as fixed asset tracking software simultaneously, ensuring you get the most accurate overview of what your business owns.


The Risks of Poor Inventory Management

Poor inventory management can result in increased but avoidable costs, loss of assets, and inefficient processes. Inventory management underpins the core of any business. 

Managing your inventory with spreadsheets is outdated and this manual process is notoriously prone to human error. Plus, spreadsheets fail to keep up with changing trends and demands. If you can’t track trends then you won’t know when and how your customers’ habits are changing.


The Benefits of Inventory Management

Inventory management can provide your business with numerous benefits, from operational efficiency to asset longevity.

1. Fewer lost assets

If you have an up-to-date and accurate inventory then, needless to say, there will be fewer lost assets. Inventory management lies in understanding what stock you have, where it is and how it is moving. Identifying the location of assets across the supply chain can prevent loss, damage and theft. 

By logging and managing the locations of your assets you can minimise asset downtime and schedule asset maintenance and your business can continue to run smoothly. You can pull all this information together into customisable and exportable reports, where you’ll be able to view your entire asset register. This helps you make better business-focused decisions.

2. Lower costs

When inventory management is done correctly it can save you money. Understanding stock trends means you see how much of and where you have something in stock so you’re better able to use the stock you have. This is especially powerful for multi-site enterprises since it will allow you to keep less stock at each location, whether that be a store, warehouse, wherever it may be as you’ll be able to pull stock from anywhere based on your requirements. Managing your inventory effectively decreases costs tied up in inventory and decreases the amount of stock that goes unsold before it’s obsolete.

3. Time efficiency

Good inventory management can completely optimise the workflow of both you and your team. Warehouses can be difficult to navigate and if assets are hard to locate then your staff will waste time trying to find them. With an accurate record of your assets you can pinpoint and retrieve information at the click of the button. Even better, with tagged assets you can retrieve an asset’s profile simply by scanning the tag. And every time a tag is scanned, the asset’s last location is updated, ensuring your inventory remains accurate. This can inform purchasing, maintenance, and ensures you maintain the right stock levels, meaning you can use your time to make the big decisions.

4. Greater clarity

 Without accurate stock details, it is impossible to know when to refill stock or which stock moves well. Inventory management provides you with full visibility on what inventory you have and where it’s located. With asset management software and asset tagging you can assign assets to colleagues, helping to ensure accountability. 

Larger operations typically have inventory spread across many places throughout the supply chain. Businesses need an accurate view of inventory to guarantee fulfilment of customer orders, reduce shipment turnaround times, and minimise stockouts, oversells and markdowns. Itemit’s inventory management provides your business with the clarity to achieve this at scale.

5. More control over your assets

Inventory management gives you the right stock, at the right time, at the right levels, in the right place, and at the right cost. The visibility you gain through this naturally provides you with greater control over your assets. With asset management software, the process of inventory management goes beyond simply monitoring and replenishing stock. Transitioning your business away from manual databases and formulas to a smart inventory management system allows you to do everything from asset tracking and demand forecasting to reporting and accounting.


itemit’s Inventory Management

Effective inventory management underpins the success of any business. Itemit’s inventory management software is shareable, transparent and easy to use. Transform your inventory management with itemit, our powerful reporting, filtering, and exporting capabilities will make your daily tasks a breeze.

If you’d like to find out more information please contact the team at team@itemit.com or you can get started straight away and try the 14-day free trial by filling out the form below! 

Start your free 14-day trial now

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or, download the itemit app to get started

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The Advantages of QR Tags vs GPS Trackers

The Advantages of QR Tags vs GPS Trackers

The Advantages of QR Tags vs GPS Trackers

Here at itemit, we supply asset tracking software that works with QR Tags to help companies track their assets. However, it’s not always clear why using tags such as these can be better than GPS trackers. It’s often assumed that the tags we attach to assets work in the same way as GPS trackers and vice versa. However, this is not the case at all.

The Best Asset Tracking Implementations And Use Cases


QR Tags and The Advantages of Using Them

When QR Tags are used, they allow companies to create a clearer and faster overview of their assets. Users physically stick the tags to the assets and track them once they’re linked with the assets. The link is created by using itemit’s asset tracking software. Every time the asset’s tag is scanned, users will receive a complete audit trail and any updated information. 

Additionally, those who wish to track the assets can do so by logging into itemit’s system. The software will show the user the asset’s last-known location from when the asset tag was last scanned. It’s this feature that can help users to retrieve lost or stolen itemits. Alternatively, users can simply see whether the asset has reached its location and been checked in.

QR Tags are ideal for use with assets of all shapes and sizes. From tools to machinery, equipment, to hardware, tags can be attached to almost everything. Especially as they are small in size and can be discretely attached to any asset.

itemit’s tags can also help users to find out an array of information. When scanning the tags, users will be shown a range of menus. These menus allow users to input information such as the asset’s:

  • Guarantee details
  • Warranty details 
  • Maintenance history
  • User details 
  • Longevity
  • Current condition
  • Cost at purchase
  • Estimated current value
  • Potential resale value 
  • Last-known location
  • Photographs
  • Comments that other users have left 
  • Questions that other users have left

And so much more. What this information means is that users have quick and easy access to the asset’s details at the touch of a button. Not only can this feature save time, but it can also help users to understand more about each asset and the company’s current value.


QR Tag Disadvantages

One of the disadvantages of attaching a QR tag to an asset is the level of wear and tear. After a while, some tags may start to deteriorate. A tag may become damaged or torn, no matter how well they are looked after. 

This disadvantage can be remedied by replacing the worn QR tag with better quality tags that are durable, and more reliable. Luckily itemit’s tags are high quality and have a strong adhesive back, limiting the liklihood of damage and tear to the tag. Users simply have to update itemit’s software so that it knows which tag the asset is working with when you change the QR.

Although QR tags are great for helping to locate an asset, they are unable to give a live updated location since the technology just hasn’t been created. Many believe QR tags will be able to update as and when an asset moves, but unfortunately this isn’t the case. To recieve a last seen location QR tags need that intital manual interaction via being scanned on the itemit app. An alternative to ensure you do get live location updates would be to use GPS trackers, however they are very bulky and not suited to smaller assets such as IT assets and tools.


GPS Trackers and the Advantages of Using Them

GPS trackers work in such a way that there is no need to manually check the asset’s location. Users can automatically see where their assets are at all times. They are especially great for tracking vehicles on the move, and with itemit you can use the purpose built map to see a record of the journey a vehicle takes as long as it has a GPS tracker connected to it. 

Users may also be able to see a history of the asset’s location. This can help users to understand whether an asset has been taken to particular sites and used there.


GPS Tracker Disadvantages

Unfortunately, a GPS tracker’s longevity is not always very good. Typically used with large long-life batteries or small short-life batteries, they can only last so long. Ideally, a GPS tracker will be attached to a vehicle, for example, that can charge the tracker. However, this is not always as easy as it seems. 

Another disadvantage involves pinpointing exactly where assets are. This is due to GPS updates being entirely address-based. Users can refer to the tracker’s coordinates, however, these coordinates may correspond to a specific address. This can make tracking the assets quite difficult. 


QR Tags Vs GPS Trackers: Which is the Best?

QR Tags can help companies everywhere to track all of their assets. They don’t just locate every asset, they can also help companies to gain access to useful information. Clicking on an asset using itemit’s menus can bring up information such as the latest maintenance schedule, warranty details, and much more. 

Additionally, users can track their assets via a desktop or mobile device. This ensures that users can track assets no matter where they are. 

While GPS trackers supply updated location information relatively easily, this is all that they offer. GPS trackers have one function and one function only. It has to be said then, that QR Tags are far superior to GPS trackers. Users can locate every asset and gather an abundance of information about the assets every time.


Make Use of itemit’s QR Tags

Make use of itemit’s QR Tags and all that they have to offer. Track all of your assets with ease, and have easy access to the asset’s warranty, maintenance, subscription information and so much more. Contact itemit’s helpful team today at team@itemit.com to find out how well our QR Tags can work for you. Alternatively, you could opt for our 14-day Free Trial so that you too can understand just how well itemit works for you.

QR Tags vs GPS Trackers

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Why Production Companies Should Use Asset Tracking Software

Why Production Companies Should Use Asset Tracking Software

Why Production Companies Should Use Asset Tracking Software

There are quite literally many moving parts on any film production set. Keeping track of all your production equipment across all your different sites and locations can be a logistical nightmare. With different team members checking equipment in and out there are a huge number of assets to manage at any one time. Relying on spreadsheets for inventory lists and asset management is a time-consuming process that is prone to human error. But, with asset tracking software this can all be automated. Streamline your operations resulting in more time and less costs.  

Asset tracking software is a digital, centralised system that allows your team to track important details about each asset in real time. With asset tracking software you can keep track of all your lights, mics, booms, tripods, light reflectors and anything else you need. All the necessary information for each piece of equipment, who it’s assigned to, what project it’s on, is stored in an asset register. Asset tracking software will save your production time and money so you have everything you need to create the next blockbuster.

How Does Hardware Asset Management Help Working From Home?


How Asset Tracking Software Works

Tracking assets works by combining the use of asset tags with asset tracking software. The asset tags can be RFID tags, GPS trackers or QR codes, these tags are physically attached to assets and assign the asset to a unique identification code. The various asset tags offer different uses and benefits depending on the application but they all achieve the same outcome: identifying and communicating the location of your asset. 

All of the data from the asset tags is stored in a centralised system, creating an asset register. Effectively, you log digital copies of your assets in the asset management system. You can add various information to the digital copies, such as who the assets are assigned to, where they are, and what state they’re in. Therefore, instead of finding specific information within a spreadsheet, you’ll be able to open an asset’s profile to view all of the data you need to know about that asset. With the advancement of modern tools, asset tracking software can also provide information on asset value, inventory management, maintenance planning, as well as real-time data on asset lifecycle management.


The Challenges of Asset Tracking in Film


1. Lots of Assets

A huge amount of equipment go into the production of any film. From the lighting, to the sound, to the editing equipment, the list goes on. This amounts to a big investment and, like with any investment, you need to look after it. It can be easy to lose track of things as they move around set, exchanged between crew members and are taken off to various locations. This poses a challenge to ensuring the longevity of your equipment and maximising the money and resources you’ve put into your production. 


2. Lots of Crew Members

It takes a lot of people to bring a film together. With various teams and companies working together and sharing assets, knowing who has what and when can get complicated. Equipment can easily become mixed up, misplaced, or end up in the wrong hands. Asset tracking software can help you to avoid these mishaps by streamlining the whole operation. With fixed asset registers and automatic data collection you can keep a log of who an asset has been assigned to, where it is and can help to ensure it is returned on time.

3. Loss or Damage of Rented Equipment

Many film productions, large and small, rely on rented equipment to make the next big picture. But with rented equipment you always run the risk of added costs in the event the asset is lost or broken. This can result in spiralling costs that can really put a dent in an already tight budget. Asset tracking software can offer you extra security and visibility around the movement and behaviour of assets as well as smarter asset maintenance. 

 


The Benefits of Asset Tracking Software For Film


1. Streamline Your Operations

Using spreadsheets is usually the first go-to option for managing assets but this manual process can quickly become long and laborious. As your production grows, so do the number of assets, meaning more data and more moving parts to track and manage. Spreadsheets can become your system’s downfall since they are difficult to share with others, lack smart features, and are susceptible to errors. 

Manual asset tracking is a very time-consuming process but with asset tracking software you can completely streamline your audit and daily operations. With itemit asset tracking software you can ensure your assets are where they need to be and with the right people, taking the headache out of asset tracking. When your team checks assets in and out the asset manager is automatically notified. Every time an asset is tracked, entered into the system, checked out, or repaired, data is collected. This improves accuracy, minimises errors, and reduces the time it takes to exchange assets. Using asset tracking software ensures you know what is happening to them as they move around set and from site to site.


2. Improve Inventory Management

Good inventory management is critical to the success of any operation and film productions are no different. Asset tracking software can improve your inventory management by informing you of what equipment you have, where it is, and who it has been assigned to. For example, if somebody requires multiple pieces of kit, you can bulk check them out with itemit’s equipment checkout system, then bulk move their locations to indicate that they’re with that company. Then, you’ll be able to run a report on the equipment that is on the move to the location and export it as a pdf, giving you a register of the equipment your client needs to sign for.

All of the data you collect will be pulled into a fixed asset register, providing you with an accurate and up-to-date record of your assets. This offers greater control and visibility of the financial data related to your assets. With itemit the process of creating fixed asset registers is simple. You can view, filter, manage, and export reports with ease, giving you a clear view on what you own and how the assets are behaving. A clean register will allow you to completely streamline your insurance and tax operations, allowing for clearer expense and more transparent insurance applications. 


3. Reduce Costs

Limited film budgets can restrict the ability to purchase additional assets, and mean you need to make the most of what you have. Cost management is vital on small and large scale productions alike, and with effective asset tracking software you can make sure you’re getting the best out of your equipment. Asset tracking increases the visibility of assets location and user data, helping to reduce loss and theft. 

Plus, asset tracking offers a smarter solution to maintenance. Good asset management extends the lifespan of assets by decreasing the need for maintenance and replacement. Asset tracking software allows you to take a more proactive approach to maintenance since it is much easier to maintain equipment if you know its history. With asset tracking software, you can set up automated reminders when it’s time to make routine repairs, resulting in fewer unexpected problems and the foresight to make them fit around your filming schedule.


4. More Secure Bookings and Rentals

Asset tracking software gives you the security you need when hiring equipment. Asset tracking software covers your back by ensuring you are compliant with your insurance. If you know where your assets are at all times then there is less associated risk, resulting in simpler invoicing and lower premiums for you. With itemit you can even set reminders for expired licences and insurance payments.

You can also use your asset tracking software as an equipment booking system. You can use itemit to log rentals to other users, companies, or anyone else for that matter! Overall, itemit asset tracking software creates a simple, effective, and transparent view of where your film equipment is and how it’s behaving.


5. Scale Your Production

As your production grows, itemit grows with you. Relying on spreadsheets to keep track of everything you own can make it difficult to scale your production. Whether you’re working on your first short film, or a feature-length production, itemit can support you every step of the way.

If you’re working on multiple films you can even use itemit for each one without needing to purchase new licences. Using automated asset tracking software you will be able to organise and forecast the equipment needed with ease so you can look at your filming schedule and work out what additional equipment you need to hire or purchase. 

 


Asset Tracking Software Solutions

Asset tracking software is highly tailorable and offers a solution for every application. Get to know the right solution for you and make sure you know where your assets are on every location.


QR Tracking

Most of us are familiar with QR codes. The different patterns of black squares on a white background have become a familiar feature in our daily transactions. The unique pattern represents and links to information, and has become a popular solution in asset tracking thanks to its cheap and quick production. The popularity of QR codes in everyday life means you don’t need to purchase and use a third-party tag reader. Simply open your smartphone and scan the QR code, and up will pop all your asset’s information, allowing you to track and manage instantly. 

With itemit asset profiles, you’ll be able to book assets out, add issues for maintenance, and view any amount of information, including user manuals – something that’s particularly handy if you’re onboarding new staff.


RFID Tracking

RFID tracking is a great solution for the film industry because, unlike QR codes, RFID tags don’t have to be visible so there’s no need to worry if an asset is going to be on camera. RFID stands for radio frequency identification and works by using radio frequencies to broadcast the location of the tagged asset. 

RFID tags can either be active, passive or semi-passive, and offer different benefits depending on your use case. RFID tags come in various shapes and sizes meaning you can make them fit to your asset. RFID asset tracking requires a device (either a fixed or handheld reader) to pick up the tag. This greatly speeds up auditing assets as the only thing you need to do is pull the trigger on the RFID reader. The same is true for when you’re adding multiple assets to a new location, as itemit’s Quick Add feature speeds this process along. Keeping track of your assets has never been simpler.


GPS Trackers

GPS trackers are a great solution for tracking various pieces of large equipment, from moveable cameras to sound producing equipment. GPS trackers periodically update an asset’s location. This means that you get an automatic audit trail of where all of your equipment has been, allowing you to verify that equipment has arrived at its destination safely, minimising transport costs and reducing the risk of losses. With itemit, you’ll be able to use GPS trackers in tandem with QR code asset management. GPS tracking can both speed up and simplify your operations, giving you a robust view of how your assets are behaving.


itemit’s Asset Tracking Software

Asset tracking software at itemit is scalable, transparent, and efficient. With a full-equipped suite of helpful features, from equipment check-in and check-out functionality to bulk actions, you can seamlessly update and improve your current process. You’ll finally be able to move away from those never-ending spreadsheets. If you’d like to find out more information please contact the team at team@itemit.com or you can get started straight away and try the 14-day free trial by filling out the form below! 

Asset Tracking Software for Film Production

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

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How a Conservation NGO Can Use itemit

How a Conservation NGO Can Use itemit

How a Conservation NGO Can Use itemit

Conservation NGOs usually work hard to make sure that endangered species are protected. The work that they do is vital in helping to protect species while ensuring we benefit from nature’s diversity. itemit’s Asset Tracking can help conservation NGOs track endangered species thanks to its many functionalities.

The Best Asset Tracking Implementations And Use Cases


Reduce Financial Loss

Every tool, piece of machinery, and veterinary equipment can be tracked using itemit’s Asset Tracking software. When a QR tag is added to equipment, its location can be tracked using itemit’s last seen location feature. What this ultimately means is that the equipment is a lot less likely to go missing. 

In the past, when a conservation NGO has lost something, they may have spent hours looking for it. However, the right tracking software allows users to locate the equipment within moments. This can help to eliminate the need to replace lost equipment.

Having to spend less money on replacing lost equipment, tools, etc means that funds can be spent elsewhere. Many NGOs struggle to make ends meet as money can be very limited. Here is where using Asset Tracking software can make a big difference. 

Fewer lost assets mean that there is more money to be spent on research, security, and much more. Money can be diverted to those much-needed areas rather than spending it on replacing lost assets.


Increase Employee Accountability

When equipment is tracked, employees will be more accountable for it. It will be possible for management to see which employees have which pieces of equipment by using itemits assignee feature. When employees are aware that the tools they use are tracked. They are much more likely to look after them.

Itemit’s software has a function that lets employees check tools and equipment etc in and out. This function shows who is using which pieces of equipment on a more temporary basis and also enables users to make bookings. The bookings function increases visibility of who needs what assets and when, ensuring that your employees will know when equipment is available. It also allows for easier tracking, and it lets management know that the right tools are being used for the right job. 


Receive Maintenance Alerts

itemit’s Asset Tracking software can save conservation NGOs time. In addition to knowing where every piece of equipment is, NGOs can save time thanks to itemit’s maintenance feature. 

It can be hard to know when equipment should be inspected and repaired. It can also be hard to understand whether there are enough tools in stock while others are undergoing maintenance. However, the right Asset Tracking software can make life easier. 

With the use of the right tracking software, users can report when tools need to be repaired and book them in for maintenance. They can source other tools to use in the meantime and complete their tasks. 

Tools and equipment that are maintained as and when it’s required are likely to last longer. Additionally, having the ability to book a tool in for maintenance can save time. Users no longer have to wait quite as long for repairs to take place. Equipment can be repaired as and when it is required. This means that those much-needed tools can be back in the hands of those who need them.


Save Time

Because management and employees know where the tools are at all times, sourcing the tools can be easier. There’s no need to hunt high and low for tools as it’s possible to track the location all day, every day. Users simply need to log into the software and select the tool in question. They will then be shown the tool’s last-known location. This allows the employee to use tools when they need them, rather than spend time looking for them. 

When time is saved, goals can be reached quicker, and organisations can work more effectively.


Use itemit’s Asset Tracking Software

itemit’s Asset Tracking software can help conservation NGOs to work more effectively. No matter what the cause is, this software can help. With the ability to help in a wide range of areas, itemit’s software can prove to be priceless. 

Contact the friendly team at itemit today to discuss using the software. You can reach our team at team@itemit.com. Alternatively, you may wish to sign up for our 14-day Free Trial so you can discover just how well our software works for you. We’re confident that itemit can help your conservation NGO.

Asset Tracking for NGOS

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

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5 Features of itemit’s Asset Management System

5 Features of itemit’s Asset Management System

5 Features of itemit’s Asset Management System

itemit offers users a complete Asset Management system that allows businesses everywhere to successfully manage their assets. While the management system is well-known for helping businesses to locate their equipment, it can do so much more. 

itemit’s Asset Management system is very flexible, offering users more options than perhaps they realised. Below, you can find 5 features of our incredibly useful management system.

The Best Asset Tracking Implementations And Use Cases


It Can Track the Location of Tools and Equipment

Users are able to track the location of their tools and equipment no matter where they are. When a QR code is attached, locating tools and equipment is simple. Each time the QR code is scanned the asset profile will pop up and also its last seen location will be updated using GPS. This is a great tool for being able to see where the piece of equipment was last seen and who by. 

This feature ensures that users can locate their assets when they need to. Additionally, this feature helps to reduce the likelihood of ghost assets. When ghost assets are few and far between, businesses can potentially save money. This ensures that the money can be diverted to departments that need extra funding.


The System Helps to Create an Accurate Asset Register

Another highly useful feature is the asset register that users can create. This register allows users to have complete knowledge of every piece of equipment and tool in the business’s possession. Regardless of what type of business you have, itemit can help. 

When businesses have an accurate asset register, they clearly see how well the business is performing. Additionally, they can see which assets are in high demand, and which assets are barely used. It’s this information that can help users to make better informed procurement decisions. 

Coupled with itemit’s tracking capabilities, the asset register helps users to see where their assets are. This information can prove to be hugely beneficial.


It Can Manage Inspection and Maintenance Schedules

After time, most tools and equipment will need to be inspected and maintained. Using itemit allows business owners to understand which assets need to be inspected and/or maintained. The reminders feature allows users to have much more control over every asset. Additionally, it means that assets are much more likely to be taken care of. This, in itself, helps to lower the cost of repairs and reduces the need for replacements. 

Using reminders, it is possible to see which assets are in need of maintenance. When reminders such as these are set, they ensure each asset is looked after. Assets that are regularly maintained are less likely to fail. The reminders feature works by providing email notifications when maintence and other important dates are due, you’ll never forget a date again with this handy feature!


The System Tracks Asset Depreciation and Life Cycles

Thanks to the way that it works, itemit’s Asset Management system can track asset depreciation and life cycles. Users can understand the value of each of their assets and the asset’s life cycle. This feature can aid greatly in terms of understanding when replacements may need to be purchased.

If an asset does not need to be replaced immediately, users can set aside funds for when the time comes. This means that users can purchase the replacements when they’re required, rather than having to look for a source of funding.

Assets that have depreciated in value may need to be replaced if they don’t perform as well as they once did. Machinery, for example, could be discarded or sold and a replacement could be purchased. Alternatively, when a business has depreciated assets, knowing the combined value of all of these assets can prove helpful. Users can understand how much their business is worth and how the business is performing. With this information, users can make better decisions about which direction the business should be taken in. 


It Has iOS and Android Apps, and a Web Portal

Many of itemit’s users make use of the Asset Management system by logging into the web portal. Other users choose to opt for an iOS or Android app. Some users are happy to log into the web portal and occasionally an app.

itemit’s Asset Management system is very flexible, allowing users to access it when they need to. Users can access the system when they’re sitting at their desks or via their phones on a construction site. The system can be accessed while they’re on the train to work, or sitting at home on their computer. 

As long as users have access to the internet, they can log into itemit as and when they please thanks to it being cloud-based no information goes astray whether you’ve added it by the app or web. 


Use itemit’s Asset Management System Today

Use itemit’s Asset Management system today to help your business grow. The above 5 features offer a glimpse of what itemit can do for your business. Contact our friendly team today for more information about how well our Asset Management system can work for you. Contact us at team@itemit.com. Alternatively, you may wish to sign up for our Free 14-day Trial to find out just how well itemit can work for you. 

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

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What Benefits Can Asset Tracking Software Provide Your Business With?

What Benefits Can Asset Tracking Software Provide Your Business With?

What Benefits Can Asset Tracking Software Provide Your Business With?

If you would like to track your assets so your business is organised, we can help you. Here at itemit, we provide businesses everywhere with high-quality Asset Tracking Software. With the touch of a button, users know where their assets are and when they’re being used. 

However, it’s not always clear as to what the benefits of tracking software are. Below, you can find the details of just a few benefits that are associated with using our Asset Tracking Software.


Helps to Reduce Theft

Thanks to the way that our software works, users won’t need to be quite concerned about theft. As every asset will have an RFID tag or QR code attached to it you can build a robust audit trail. Users can log into itemit’s system and find the asset’s last-known location. Incidences of theft are less likely to occur as a result as every member of the team will know that the assets are tracked. This can be a great deterrent in itself. 

Theft is not the only issue that can cause concern. From time to time, assets can also go missing. Whether the asset has been left behind somewhere or accidentally misplaced, it can be tracked. Users can see where the asset in question was last seen and retrieve it at their convenience. 

Due to the fact that assets are less likely to go missing, less money will be spent replacing lost or stolen assets. As a result, the funds that the business would have otherwise spent can be diverted elsewhere.

Business Asset Tracking


Allows for Cheaper Insurance Premiums

As incidences of loss and theft are less likely to occur, insurance premiums can be cheaper. Businesses know where all of their assets are at all times. This ensures that assets can be retrieved. Informing insurance companies of this can help to lower the premium as there will be less associated risk. 

While there will always be the risk of damage or faulty assets, insurance costs could still be reduced. This ensures that the money saved can be spent in other areas of the business.


Offers Real-time Tracking

One of the major benefits of itemit’s tracking software is its ability to offer real-time tracking using GPS trackers. Delivery companies, for example, can pinpoint where delivery vehicles are and note the progress. With this information, users can estimate when deliveries will be made. In addition to this, it is possible for businesses to determine whether a driver has taken the wrong route. 

Finally, real-time tracking allows users to see where the goods are and provide reassurance to the customer. This can be crucial when a customer is in a hurry to receive the goods.


Improves Inventory Management

itemit’s Asset Tracking Software can help to improve inventory management. Our tracking software ensures that valuable data is provided. For example, users can see how much stock they have, allowing for better inventory management. When a user can see how much stock they have, they can make a more informed decision about making additional purchases.  

Additionally, as users can see where their stock is located, it is much easier to locate stock in a busy warehouse or storeroom. Users will no longer need to search the shelves to work out where things are. A quick tap on the menu can help users to locate the much-needed items.

Profit/Loss saved asset tracking


Enables Better Maintenance Planning

The right Asset Tracking Software allows for better maintenance planning. This is thanks to the range of menus that itemit offers. Users can notify the maintenance team of an issue whenever an issue arises. This ensures that the asset can undergo repairs as and when they are required.  

Some businesses only maintain assets when they are scheduled for maintenance. When this happens, multiple assets may be waiting to be repaired. Additionally, it means that team members/employees have fewer tools to work with. 

When something goes wrong, the maintenance team can be notified and the issue can be dealt with. As a result, assets are more likely to be in good working order for longer. In addition to this, there may be a lower need for more expensive repairs. Finally, the costs associated with replacing damaged assets can be lowered. If assets are repaired every time there’s an issue, they’re more likely to last longer.


Ensures Automatic Data Collection

Every time an asset is tracked, entered into the system, checked out, or repaired, data is collected. This data can prove to be highly useful. Users can not only see where the assets are, but they can see how often they’re being used. Additionally, users can see who has checked the assets out and read specific job details. 

Information such as this can prove to be very valuable. Businesses can use itemit’s Asset Tracking Software to understand whether they have sufficient assets. For example, if an asset is used multiple times, management can potentially order an additional asset. This means that more people can have access to the tools they need and when they need them. There will be no need to wait in a queue or in a queue that’s quite as long.


Checking Assets In and Out

Employees/team members can check assets in and out when required. This ensures that management always knows who has a particular asset. They can also request that everyone leaves a note stating why the asset is being used. It may also be useful to mention how long a user may need to have possession of the asset. 

When assets are checked out, management can see how many assets are left behind. This helps management to see whether there are enough assets.  When users check the assets back in, the asset will be kept in its appropriate location. Management can see that the asset has been returned and by whom. This can prove to be useful if an issue arises with the asset. Management can speak to the last user to determine whether they experienced an issue.


Booking Assets For Use

Users can book assets into the system should they need to use them. If an asset is already being used by another party, it will be clear that someone else is waiting for it. Thanks to the way that itemit’s Asset Tracking Software works, other employees/team members can see how long the waiting list is. This can prove to be very useful as it gives everyone an indication as to how long they will need to wait. 

Management can also see that a particular asset is in high demand. They can make a more informed decision about whether more assets need to be purchased. 

This feature also helps to prevent people from searching for an asset that is already being used. By logging into the system, they can see who has the asset and how long they may have it for. A feature such as this can help to minimise the amount of time that’s spent looking for an asset. The time could instead be spent undertaking other tasks.


Improves Auditing

As users can clearly see how many assets they have in stock, the process of stock-taking can be easier. Users may no longer be required to manually count the stock. Rather, they can see at a touch of a button how many assets they have. This can potentially help to reduce the incidences of errors. 

Additionally, managers can see how well their business is performing, and make more informed decisions about its future. This can prove to be invaluable as money can be diverted to particular departments or used to purchase more assets.

Saving Time with asset management


How Our Tracking Software Works

Our tracking software works by locating RFID tags or QR codes and showing users where the codes or tags are located. As long as the codes or tags in question are attached to an asset, it’s possible to see the last-known location. The location is updated every time a user scans a tag.  

Our tracking software is here to help you. It does not matter how large or small your business is, we can help you. We can also help individuals to track their personal belongings. By simply attaching an RFID tag or QR code, individuals can update their assets’ locations at all times. 

Here at itemit, we often update our software to make sure that it works well for you. We want you to rely on the software to track all of your assets in the best way possible. When all of our customers are happy, we’re happy. This is why we work hard for you.


Contact itemit Today

Contact the team at itemit today to find out more about our Asset Tracking Software. You can reach us at team@itemit.com. Alternatively, you may wish to start a 14-day Free Trial to find out how well our tracking software works for you. We work with many businesses of all shapes and sizes, and we can help you to track all of your assets with ease. 

Asset Tracking Benefits

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