What Are Equipment Asset Management Software Tools?

Published on December 21, 2021 • 3 min read

For any organisation, it’s crucial to know and understand everything you can about your tools and equipment. Knowledge about these assets in detail holds key importance in making the most out of them. 

Using equipment asset management software tools is nowhere as important as it is when you need to have every bit of information about your assets on your fingertips so you can make data-driven decisions. If you’re an entrepreneur, equipment asset management software is not just for you. Everyone in your team can have quick and easy access to the asset data so your organisation can work smarter as a whole. 

But you might be a little confused. Yes, ‘equipment asset management software’ is a big term and most of us have a hard time getting our heads around it when we come across it for the first time. Here’s a detailed guide on what equipment asset management software is and what it can do for you.

Why Do You Need Equipment Asset Management Software?

Your tools and equipment, more technically known as your ‘assets,’ are the building blocks of your enterprise. Every modern business employs a wide range of tools and equipment that are indispensable to its day-to-day operations. As they are essential for you and your team members to make a living, they should receive due care and attention to ensure your work operations run smoothly. 

While there are more expensive, time-consuming and inefficient methods to keep track of your equipment, equipment asset management software makes it cheap and effortless. 

Plus, a lot of organisations today are not willing to allocate resources to acquiring new equipment. With increasingly ageing equipment, it becomes even more important for firms to track their assets closely and keep them well-maintained. Equipment asset tracking software can do wonders for you if you’re looking to do this in the most convenient way.

What Does Equipment Asset Management Software Do For You?

We’ve already discussed why you need it, but you still might not have a clear idea of what exactly equipment asset management software is, how you use it or the range of tools that make asset management easier for you. 

So, to define it in a few words, equipment asset management software is an asset tracking solution that lets you keep a close eye on each of your tools via an easy-to-use, highly integrated mobile app or web portal. This is what this software solution does for you at its very core, but in order to get a better understanding of how it works, let’s have a look at its different features.

Equipment Asset Management Software Tools

Neat and Organised Asset Register: Equipment asset tracking software organises all your assets in a single, centralised platform that can be divided further into asset categories for quicker navigation. The register gives you a search option to look up an asset immediately. 

While spreadsheets and other conventional asset management methods can be very messy, this software solution lets you store all essential asset details in respective asset profiles neatly. 

Assignee Feature: When you’ve added an asset to the register, you can use the assignee feature to assign a particular tool to one of your team members or contacts. This is an especially useful feature if you want to develop accountability and enhance asset security in the workplace. 

Check In Check Out Feature: If you or an employee are taking a business asset out of the workplace, they can use the equipment asset tracking software to ‘check out’ the asset. This lets all members know which asset is being moved out of the workplace and by whom in real-time. 

Booking Feature: If someone needs a piece of equipment at some point in the future, they can ensure its availability at that time with the booking feature. To book an asset, users have to simply open an asset profile, select the ‘Book’ option and mark the dates.

Asset Tags: You can tag each of your assets with QR code or RFID tags and give them a unique identity. This speeds up the asset tracking process. If you want to interact with an asset’s profile, all you have to do is scan the asset tag rather than look it up in the asset register.

Location Tracking: Each time an asset tag is scanned, the equipment asset management tool automatically updates its location on the asset register. If an asset is scanned frequently, you can stay up-to-date with its location at all times. 

itemit’s Equipment Asset Management Software

Most companies already have some kind of equipment asset management practises in place. But the problem with conventional asset tracking methods is that they can’t perform when it comes to scalability, shareability and tracking assets while they’re being moved or taken away from the workplace. 

itemit offers a highly scalable equipment asset tracking software solution that can be used by multiple users at the same time. It’s the most versatile asset tracking solution available on the market which means it can be used by every department in an enterprise. 

To find out more, feel free to contact our friendly team at team@itemit.com. If you’re ready to take itemit on a test drive, fill in the form below to start your very own 14-day free trial!