Did you know that you can save your business a good amount of money when you use an asset register app? You had probably already gathered this when you read this article’s title. However, you may not know exactly how you can save money. Don’t worry, this article will show you just how easy it is for your business to save cash. The good news is that you don’t have to run a large business in order to benefit, you can run a small one. As long as you have some assets, you can save money, it’s that simple.

An asset register is a system that stores a lot of information about your assets. All of this information is stored in the cloud and it can be accessed whenever you wish. An asset register is different from a mere list of assets, though. A register consists of a lot of information about every single asset such as when and where it was purchased, the model and make, the maintenance schedule, instruction booklet, and much more,

Your new asset register app will contain a lot of details about all of your assets and keep those safe. With the ability to access the register from multiple devices, you can see where your assets are at all times. This is one of the major functions associated with an asset register. It can help you to see where your assets are every minute of every day.

As soon as you have chosen which app you want to use, you are good to go. Just make sure that you opt for an asset register app that’s trusted and frequently updated. Simply log into your chosen app and you should be able to select an asset. Once the asset’s menu is open, you could track it, make alterations to the details in the digital profile or even assign the asset to someone. But this is enough talk, let’s look at how you can save your business money.

There are many ways for you to save your business money by using an asset register. Some of these ways include:

• You no longer have ghost or zombie assets – ghost assets are those that don’t work anymore. Zombie assets are those that don’t work well and could be slowing you down. When you use an asset register to create a maintenance schedule you can eliminate ghost and zombie assets. 
• Tracking becomes automated – once you’ve added an RFID tag or barcode to your assets tracking starts automatically. This means you’ll always know where they are so you’re unlikely to lose them. 
• Assets can last longer – as soon as you set up that maintenance schedule your assets will last longer as they’ll be in a better state of repair all of the time. 
• Your asset register is far more accurate – once you’ve added everything to your asset register app your register will be more accurate than if you’d use a spreadsheet or a notebook. 
• You can make better business decisions – this is simple because you can see what assets you have and how often they are used. Additionally, you’ll be able to export data that’s created by your register app. This means you’ll have accurate data to band whenever you want it. This could potentially save you money making bad decisions. 
• You’re unlikely to discard warranty information – it’s possible to add warranty information and any other important information to your asset register. So, even if you do discard the warranty details that came with your new laptop, for example, you’ll still have access to it. So, there’s a chance you’ll get a refund or a replacement rather than having to pay out for something new. 

As you can see, it’s easy to save money when you use an asset register.

Some of the additional benefits associated with using a modern and trusted asset register app can include. 

Barcode tracking is simple, allowing you to track your assets, keeping them safer. So, you’ll not have to worry too much about things going missing or having to replace them. You can check everything in and out with ease, again, ensuring nothing gets stolen or lost. If something is left behind or taken off the premises, you can track where it is. The app can be used on a wide variety of devices ensuring you don’t have to purchase additional devices. This could save you thousands if you want your team to have access to your new asset register. 

Would you like to speak with an expert about using an asset register app to save your business money? Contact us now at team@itemit.com.

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Did you know that there’s such a thing as ghost assets? Did you also know that they can reduce your profits? This is why businesses all over the world do what they can to eliminate them. However, if you’re not sure what ghost assets are or how to eliminate them, this article can help. This article will also teach you why using laptop inventory management can make a real difference.

Ghost assets are the type of assets that are not accounted for. They are assets that are either damaged or lost. Sometimes printers, photocopiers, laptops, machinery, tools, and equipment just become damaged. If your maintenance department does not yet use inventory management to deal with damaged items, things may not be repaired. Let’s imagine that you have 2 broken laptops. If you put them to one side in the hope they’ll be repaired, they may sit on the shelf for a long time. However, if you use laptop inventory management software, the laptops could be repaired quickly. We’ll look at this subject in greater detail later on in the article.

You may be wondering why assets such as these are an issue. The fact is that they can cause genuine financial issues. This is because a broken conveyor belt, for example, may prevent items from being manufactured on time. The van that is still in urgent need of wheel alignment could mean customers don’t receive orders on time. More worryingly, a ghost asset could have an impact on your financial assessments and audits. With all of this in mind, it’s absolutely vital that you deal with your ghost assets.

When you use laptop inventory management to help you tackle ghost assets you’re onto a winner. This is because in order to use the software you need to affix an RFID tag to each asset. As soon as the tag is affixed it can be scanned to open up a digital profile. This profile can have a lot of information added to it. Information including the asset’s make and model, serial number, warranty and insurance details, and more can be added. 

So how does all of this help with ghost assets? It’s easy. You’ll need to add every single asset to your laptop inventory management software. You don’t just have to add laptops, you can add anything and everything. When adding all of your assets you will no doubt come across that broken conveyor belt or the van that needs its wheels aligned. Adding these assets to your inventory software means they are accounted for. It also means that they are much more likely to be taken care of.

Let’s now take a look at how you can eliminate ghost assets for good with the help of laptop inventory management software. As we have already seen, you will need to add every single asset to your new software. Once you have, you could set up a maintenance schedule for every asset. This will ensure that all of your assets could be repaired sooner rather than later. It could also mean that potential issues could be found and dealt with. 

When you look after that conveyor belt, for example, it will be less likely to break down. It will be more likely to work well for you, ensuring you can manufacture everything on time. When your van’s wheel alignment is dealt with, you can potentially deliver a customer’s order to them early. 

Every asset that you own will have its own maintenance schedule. Your laptops could be inspected once a year. Your vending machines every 6 months, and your vans every quarter. As long as you set up a maintenance schedule and it’s stuck to, you could say “Goodbye” to ghost assets. 

Did you know that you could report potential issues via your new inventory management software? As long as you use software that allows you to message your maintenance department, you’re good to go. Let’s imagine you come across a desktop computer with a faulty camera. This is by no means something out of the ordinary but it can be frustrating. Scanning the computer’s RFID tag and messaging your maintenance team about the issue is the way forward. The maintenance team can add the desktop computer to the queue and ensure that the camera is up and running so you can enjoy, shall we say, online meetings again. 

Eliminating ghost assets is perfectly possible. It does take a little bit of work but it’s achievable. As soon as you have your assets added to the management software you’re 99% of the way there.

Wish to talk with an expert about eliminating ghost assets while staying on top of laptop inventory management? Contact us now at team@itemit.com.

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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.

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.

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.

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.

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.

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

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