The Importance of Fixed Asset Management Software

Fixed asset management software helps you scale your business, keeps costs down, and increases the speed of your operations.

With fixed asset management software, you’ll be able to:

  • Track and monitor assets
  • View your entire fixed asset register
  • Track financial information
  • Track maintenance
  • View who is using what and when
  • And more!

Fixed asset management software provides you with a high ROI in no time at all.

 

tracking fixed assets

 

The Benefits of Fixed Asset Management Software

There are many benefits when you start tracking fixed assets. You’ll see a high ROI in both time-saving and in cost-cutting.

The visibility, control, and accountability fixed asset management software provides you with makes operations a breeze, whether you’re in an office, in the construction industry, healthcare, or any number of other industries.

To name a few of the benefits, with fixed asset tracking, you’ll be able to do the following:

 

Reduce Operational Costs

With the use of QR code asset tags, you’ll be able to view asset locations and audit where assets have been.

Every scan of a QR code will update an asset’s last seen location, as well as the user that scanned the tag.

What this means is that you’ll be able to create a full audit trail of where assets are, where they’ve been, and who has been interacting with them.

With this information, asset retrieval times are reduced, but you’ll also be able to see any gaps where more tool purchases are necessary.

Tagging and Tracking with QR Code Asset Tags

Minimise Asset Downtime

The ability to track maintenance helps you minimise asset downtime costs. These costs can cause a lot of frustration, as asset downtime is usually unavoidable.

With fixed asset management software, you’ll be able to set reminders for routine calibrations and maintenance, such as PAT tests.

You’ll also be able to raise, view, and edit asset issues. This means that if any of your colleague’s notice that a piece of equipment requires maintenance, they’ll be able to log this. 

Your maintenance team will then get an email and a notification telling them which asset is faulty, and what the fault is.

issues management software

Lose Fewer Assets

Having a full fixed asset register helps you mitigate certain issues, such as ghost assets and zombie assets. You’ll also lose fewer assets as you’ll gain more visibility through location tracking.

Having lost or unaccounted for assets causes many problems, including in terms of tax. If you have a complete, up-to-date fixed asset register, you’ll be able to claim the correct amount back in tax breaks.

Knowing what you own also mitigates problems such as duplicate purchases or unnecessary purchases, saving you money simply by showing you everything you own.

lose fewer assets with fixed asset management software

Using Your Fixed Asset Register

You’ll be able to use your fixed asset management software to create a fixed asset register. Your fixed asset register will show you all of the data you need to save time, money, and to make better-informed business decisions.

This fixed asset register is editable and exportable, so you’ll be able to share it with your finance team, HMRC, contractors, or anyone else that may need to see it.

To find out more about how itemit’s fixed asset management software can help your business, you can book a demo by clicking the button below.

You can also contact us at team@itemit.com or fill in the form below to start your 14-day free trial.

 

Why not check out these blogs?

3 Reasons you Need Asset Register Software

Why you Need Equipment Tracking Software

How To Track your Tools Using Asset Tracking Software

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