Anyone who runs a small business will tell you that they need to compete with larger corporations. Regardless of the type of business they run, making sure that you have a foothold in the market is hard. However, this is where utilising asset management software can help. When using this type of software, you have more control over your assets. This is thanks to the software’s ability to help you to create an asset register.

When you have an asset register, controlling your assets is easier than you think. With this in mind, let’s take a look at the best way to make the most of your new asset management tool.

One of the first things you need to do is add all of your assets to your register. As soon as you begin using your new asset management software, it will begin to create digital profiles. This occurs every time you scan a barcode. Depending on the software that you use, you could affix either a barcode or an RFID tag to each asset.

Once you have affixed an RFID tag or barcode to each asset it’s time to scan them. Upon scanning a barcode you will see a menu open up for you. This menu is the digital profile. It’s where you can add information about the asset in question. Every asset will have its own profile and that profile will be connected to the barcode or RFID tag.

As soon as a digital profile has been created you can begin to add a few details. It’s these details that can help you to track your assets. Ideally, you will add the asset’s model and make, estimated value, insurance information, and cost at purchase. You may even wish to make a note of the asset’s location such as: Warehouse, main office, sales office, construction site 1, etc. 

Most reliable asset management software will allow you to add as much information as you wish about each asset. You could, for example, add the warranty details, instruction booklet/PDF, a photograph of the asset, and anything else that’s relevant. The more details you add now, the better. If you add a copy of or link to the instruction manual you may appreciate it at a later date should something go wrong.

Maintenance reminders are always useful. Each asset needs to be looked after. Therefore, setting up intermittent reminders is a good idea. Every asset may already have its own schedule so you could adhere to that. Alternatively, you could set up a new one so assets are maintained more often. The choice is yours, either way, keeping your assets in good condition can help them to work more effectively.

A checking in and out feature is a very useful tool. If you want to utilise asset management software in the best possible way, use this feature. It helps you to see who is using your assets and how often they are used. This feature also adds a level of security as it means they’re unlikely to go missing. If an asset is misplaced, you can see who checked it out. You may even be able to see where your missing asset is…

…Most reliable and modern asset tracking software lets you track each asset’s location. When you attach an RFID tag or a barcode to each asset the tracking begins. This is thanks to the use of GPS and all that it has to offer. 

You could see where your assets are all day and all night. You can, for example, tell whether they have finally reached their chosen destination. You could see if they have been taken off site. You can tell which employees have taken a laptop with them so they can work from home. Tracking your assets’ location can add an even bigger layer of security.

Would you like to read exportable reports using data that has been created by your new asset management software? As long as you choose software that has this option, you could create reports that show you exactly how your assets are behaving. With this information, it’s possible to understand your small business in even more detail. 

Utilising software in this way could help you to take your business in a new direction. It could also help you to understand where improvements need to be made. However, you would not be privy to this information if you were unable to create exportable reports. 

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