How Asset Tracking Software Benefits Media Production Companies

How Asset Tracking Software Benefits Media Production Companies

Media production companies quite literally involve a lot of moving parts. 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, allowing you companies to streamline their operations resulting in more time and less costs. 


The Benefits of Asset Tracking Software for Media Production Companies

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Streamlined Operations

A huge number of assets go into media production. From keeping track of all your lights, mics, booms, tripods, light reflectors and anything else you need. 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 sets and are taken off to various locations. This poses a challenge to ensuring the longevity of your equipment.

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. With itemit’s 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.


Improved Inventory Management

Good inventory management is critical to the success of any operation and media 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.


Reduced Costs

Limited budgets can restrict the ability to purchase additional assets, meaning 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 with real-time 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.


More Secure Bookings and Rentals

Many 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.

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.


itemit’s Asset Tracking Software

Asset tracking software provides 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, are safely 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. 

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!

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