What is Asset Register Software?

Published on April 2, 2020 • 2 min read

Asset register software is the tool used to track your business' assets. Depending on the nature of your business, this may include IT hardware, tools and equipment, plant and machinery and fixed assets. 

Most commonly, you'll be using your asset register software to create a fixed asset register for your business. If this is not something you have done before, read our blog on what are fixed assets here.

Having an up to date and accurate asset register that logs all assets the business owns is critical. Not only does this assist your accounts department greatly, but IT teams, purchasing departments and end-users of these assets will benefit from knowing what equipment the business owns and what is available for use.

Why Does My Company Need Asset Register Software?

Previously, many organisations used an Excel spreadsheet to record the assets a business had purchased. However, this resulted in very out of date records that could not be relied upon. Thanks to asset register software, your business can now use a tool designed to create a reliable asset register.

The Benefits of Fixed Asset Management Software

Complete Asset Inventory 

Your asset register software will allow you to log and monitor all assets purchased and owned by the business. If you choose the best asset tracking software, you can share access to the system with all relevant teams. 

An essential aspect of managing your fixed asset register is ensuring that the current value of your portfolio of assets is up to date. Financial information relating to your assets, such as current value and depreciation, is required by your accounts department.

Additionally, when it comes to tools and equipment that your teams and engineers require to deliver the business' services, equipment condition and location must be known. The itemit asset register software includes the ability to check out equipment, report issues against assets and to assign assets to projects and teams.

Every business relies upon computers, laptops and mobile devices. It's therefore critical that your IT inventory management processes are thorough and that you record all PCs and related hardware in your asset register software.

The itemit software provides you with a desktop web portal. Here you can create and customise reports to give you full, yet organised visibility over all of the business' assets.

Fixed Asset Tagging 

Tagging fixed assets will bring considerable benefits to your growing business. As the company requires more and more assets, it can become very challenging to keep track of where assets are. By sticking an asset tag onto each piece of equipment, you allow it to be uniquely identified. With the itemit asset register software, each time you scan an item, its current location will be recorded.

Furthermore, a simple scan of the QR code or RFID tag brings up the item's digital profile page where you can view and edit asset information. When an asset is uniquely tracked in this way, managing issues reported against that asset becomes much more straightforward. For example, you'll be able to view an asset's repair history to verify whether a fix or a replacement is more economical.

Also, asset register software will allow you to book assets in advance, as well as utilising the check in check out software element.

Save Time and Money! 

Ultimately, each benefit saves your business valuable time and money. Can you afford not to invest in asset register software?

Try itemit for free today, create an account now!

Start Your Fixed Asset Register Now!