There are many reasons why you should invest in fixed asset tagging software. Overall, you’ll save a lot of time and a lot of money, but the benefits of fixed asset tagging span further than this.
The process involves using fixed asset tags, such as QR codes, barcodes or RFID tags to link digital asset profiles with your physical assets.
When these are linked, you’ll be able to simply scan a fixed asset’s tag to open this digital profile, where you’ll be able to add information such as issues and maintenance information.
Fixed Asset Tagging Benefits
Fixed asset tagging software provides you with a greater ability to control your assets and greater transparency over your assets.
As you’ll have digital profiles, you’ll be able to add any and all necessary data to your assets. This will include tracking data, as you’ll be able to track the movements of your assets with ease.
Fixed asset tagging software is scalable, too, meaning you’ll be able to share the data with your colleagues. This way, you’ll all be able to contribute to your fixed asset tracking processes.
So, what are some of the benefits of fixed asset tagging processes?
Lose Fewer Assets
First of all, you’ll lose fewer assets. As you’ll be able to track the locations of assets, you’ll be able to see at a glance where everything is and verify this.
Thanks to a helpful suite of features, you’ll also be able to strengthen your asset tracking processes. So, if an asset is getting left on site for a while, you’ll be able to scan the location and set a reminder for when retrieval is necessary. You’ll also be able to check the equipment out to that location or customer.
By coupling up these features, you’ll improve your customer support with speedy retrieval, you’ll save time and money on getting the asset back, and you’ll make your operations easier and more transparent.
Ensure Compliance
Using a fixed asset register also helps with compliance, whether this is related to health and safety or otherwise.
You’ll be able to attach documentation to your fixed assets, verifying that there is a compliant status related to the asset.
Reminders can also be set to repeat, meaning PAT test tracking is another transparent process, for example.
As assets have an automated history, you’ll be able to view whichever changes your assets have been through, too, meaning you’ll have a full audit trail of everything and asset has done during its lifecycle.
Receive Tax Breaks
Knowing what you’ve spent money on, the price of this, and the date is essential when it comes to accounting. With fixed asset tagging software, as you can add any information to your fixed assets, you’ll be able to manage and view your asset-related finances.
Overall, you’ll create a full audit trail of what you’ve purchased, how you’re using it, and then you’ll be able to add other crucial information such as warranty dates and receipts.
Thanks to a lessened risk of ghost assets and zombie assets, too, you’ll have the peace of mind that your expenses are correct and up to date.
To find out more about how itemit’s fixed asset tagging software can help you, you’ll be able to book a demo using the button below:
You can also contact the team at team@itemit.com, or by calling +44 (0)1223 421611. Or, you can start a free trial using the form below to try it out for yourself!
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