How Can Asset Tracking Software Help SME’s?
How Can Asset Tracking Software Help SME’s?
Effective asset management lays the foundation for any business, big or small, yet smaller businesses often put asset tracking to the bottom of their priority list. It can be tricky to find the resources to invest in managing your assets when there are so many other things to consider. But effective asset management can be the key to unlocking success. With asset tracking software, small and medium-sized enterprises (SMEs) can greatly enhance their asset visibility, maintenance, financial audits, and inventory management.
Why Asset Tracking is Important for SMEs
Asset tracking software can give SMEs the control they need to both optimise and scale up their business.
There are many challenges SMEs face when it comes to asset management. One crucial point is that small businesses typically have fewer assets, making each one more valuable. If one asset were to breakdown, get lost or be stolen then this could have a profound effect on the productivity of the business.
Small businesses often rely on manual approaches to asset management, namely spreadsheets, that are prone to human error. This can result in inaccurate data and poor inventory management, severely impacting the visibility and control over the business’ operations.
Asset tracking software offers a solution to these problems through a friendly, straightforward interface that allows you to access all your assets’ data in one place.
The Benefits of Asset Tracking Software for SMEs
1. One Centralised System
A major benefit of asset tracking software for SMEs is that you can manage your entire inventory of assets from a single place. All the information you need about an asset, from where it is, who has it to what state it is in, is readily accessible.
Having a centralised system with an overall view of all your assets greatly helps with inventory management. Asset tracking software can help to track, manage, and control inventory all from a single dashboard. Users can view stock levels, be alerted when parts and supplies are running low, and even re-order new items when necessary to avoid stock levels becoming depleted.
2. Eliminate Manual Processes
Asset tracking software offers automated solutions that can greatly speed up mundane and repetitive tasks. The software can track the lifecycle of your assets and notify you when maintenance is due. This can help to maximise the life of your assets and also assess the depreciation of them.
As advanced as spreadsheets have become they are still largely a manual process, meaning they are highly error prone and not ideal for long-term data storage. They also don’t guard data integrity and offer little to no protection from data corruption.
3. On-the-go Asset Management
With itemit you can keep track of your assets on the go thanks to our mobile app. The simplicity of the mobile app design allows you to quickly and easily pull out your mobile device to check and update your assets at a moment’s notice.
With the app and the web portal, you can track the movement of your assets without being tied to a desk. itemit provides a fast and accurate way to store and track your most valuable assets.
4. Reports and Analytics
The reporting capabilities of asset tracking software put it leagues above cumbersome and time-consuming spreadsheets. Using the software to monitor and track your assets will allow you to identify bottlenecks, make more informed decisions, improve your delivery and generate reports at the click of a button. You can easily log dates that assets have been purchased, inspected, and checked in or out by staff.
With itemit you can view your entire asset register in one place and pull all the information together into customisable and exportable reports. This will help you keep on top of financial audits.
5. A Scalable System
All small businesses share a common goal: growth. Managing a small number of assets in a spreadsheet may seem doable for now but sooner or later it will become unmanageable. Asset tracking software provides a system that grows with your business. It’s easy to scale up when you have a smart system with an automated workflow.
As a business grows, it makes sense to use a tool that allows maximum integration between different business functions. Asset tracking software does just that. This is a major benefit since it provides clarity and understanding of how different areas of the business are performing and behaving. As a result, your business is in a better position to budget and forecast.
itemit’s Asset Tracking Software
Effective asset tracking management lays the right foundations for SMEs to flourish and grow.
Our IT asset tracking software is scalable, transparent, and efficient. With a fully-equipped suite of helpful features, from equipment check-in and check-out functionality to smart reporting capabilities, you can seamlessly update and improve your current processes. It’s time to finally get rid of those spreadsheets and empower your business.
Asset Tracking Software For SME’s
Choose a better way to track your assets
Start your free 14-day trial now
Instant access. No credit card details required.
You're in great company
A properly automated and maintained fixed asset register can ensure you get the most from your assets and avoid tax admin headaches. Find out how in this article!
Manage all of your assets to maximise security and efficiency via the use of QR code asset tags. Read this blog post to learn more!
It’s easy to see why a small business might shy away from investing in asset tracking software. However, avoiding the initial outlay is often a false economy. find out why in this article!