How Does An Asset Register Improve Your Equipment Tracking?

How Does An Asset Register Improve Your Equipment Tracking?

An asset register gives you a clear view of what assets your business owns and other critical, relevant data. In other words, you can use an asset register to log your equipment and info such as make, model manufacturer.

So, how does this improve your equipment tracking? With effective asset register systems, you can create new asset records on the fly and track equipment with much greater ease.

What Is An Asset Register And Why Is One Essential For Your Business?


Should You Use A Spreadsheet?

First and foremost, your asset register shouldn’t solely exist as a spreadsheet. Spreadsheets are only good for snapshots of information and not useful when you’re tracking consistent asset changes and updates.

In other words, each bit of critical information exists within specific cells in your spreadsheet. This means that every time this information updates, one cell becomes out of date alongside the entirety of the spreadsheet.

Therefore, tracking and managing asset changes isn’t reliable using a spreadsheet. Instead, you’ll want a dedicated asset register software that allows you to make, log, and update changes on the fly, whether you’re onsite or working remotely.


Using Equipment Tags

You’ll be able to add equipment tags to your assets. Then, you can link these tags to your asset records. This helps your equipment tracking operations as it gives you many speed and automation benefits.

Every time you scan an asset’s tag, the relevant asset’s profile will open, ready for you to make changes. These changes are automatically pulled into your asset register, ready for you to export and manage external to your asset register system.

Not only this but every time you scan an asset’s tag, that asset’s last seen location and the user who scanned the tag updates, giving you a clear (and automatic) audit trail of who has been interacting with your assets.


Updating Asset Records

This level of ease-of-use means that you can interact with your assets in a much more streamlined way. Therefore, you can add and remove many different types of information relevant to fixed asset management, such as depreciation, or manage any other relevant equipment tracking data.

This also makes asset register systems shareable amongst your team as you can all use the system for different purposes. For example, one team can use your asset register system specifically for IT asset tracking while another monitors checkouts and issues.

Having an easy-to-manage asset register gives you much more visibility over where your assets are, who is using them and how they’re behaving, letting you take your equipment further.


Saving Time & Money

All of these improvements create time and money-saving benefits. Now that you can update asset information and run audits on the fly, you’re much less likely to misplace assets or lose them. 

The additional visibility and accountability an asset register gives you over your equipment let you make critical decisions with fewer risks, such as which assets to decommission, which ones to replace and which ones to purchase more of.

Overall, you get much more control over your equipment which means you get much better use out of your kit. This translates to time-saving benefits as there’s more visibility over which assets are where, improving usage and retrieval times which also translate into cost-saving benefits.

Also, you can keep your equipment tracking centralised or you can choose to decentralise it by sharing the load between admins with different responsibilities. This improves the scalability of your asset tracking processes and allows you to put more on your asset register.

To find out more about how itemit can help your business improve, contact the team at team@itemit.com. Or, fill in the form below to start your 14-day free trial.

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