Why is an Asset Register Important?

Why is an Asset Register Important?

An asset register helps businesses to understand what assets they have, where they are, and what condition they’re in. An asset register is a hugely important part of any business, but it’s not always clear why. itemit’s register is here to make running a business easier than you think.

Here’s why itemit’s asset register can help your business to run smoothly:

The Best Asset Tracking Implementations And Use Cases

You Know Where Your Assets Are

With the use of a QR code that’s attached to each asset, it is possible to know where all of your assets are. When you log into itemit’s menu and select an asset, its last-known location will be shown. Additionally, you can see who is using the asset and why it’s being used.

Asset tracking capabilities can prove to be incredibly useful. Any business or organisation that has multiple assets in different locations will tell you how hard it is to track everything. When a business uses asset tracking software that’s included in a register, guess work is no longer needed. 

Assets can be tracked to a very specific location. This allows assets to be retrieved easily or sent to another location if required. An additional benefit to knowing where your assets are is the security that it brings. Management can keep an eye on the location of individual assets and retrieve them should they get lost or stolen.

Auditing Can Be Easier

From time to time, every business needs to undergo an audit. Here is where having an asset register can help immensely. Every single asset that is added to the register is shown in itemit’s menus. This allows managers to see where the assets are and which assets are owned. Managers can also see which assets are in good working order and ready to be used. 

Another benefit of being able to see the register is that it’s possible to understand which assets are damaged. The assets that are damaged can be sent for repairs or even replaced. Users can see this information at the touch of a button, allowing for a smoother auditing process. 

There is a real potential here for auditing to be much easier and quicker. There may still be a need to check the number of assets your business has. However, when every asset has been added to the register, guesswork is kept to a minimum. It, therefore, makes sense to use software that makes running a business a breeze.

You Know How Well Your Business Is Performing

When you have access to an accurate register you have a better idea of how your business is performing. It is possible to see how many assets you have and if they are in demand. Managers can also see how often the assets are being used.

All of this information can prove to be highly useful in terms of business performance. Managers can make a judgement about whether they have sufficient assets. A decision can be made about ordering more assets or sticking with the assets in stock.

Understanding how well a business is performing ensures that better decisions can be made. With the information at their fingertips, managers will have a better idea about the future of their business.

Asset Information Can Be Found More Quickly

itemit’s asset register allows users to gain quicker access to asset information. Each time more assets are added to the system, a variety of information can be added. This includes: Name, model and make of asset, warranty and insurance details, cost at purchase, estimated current cost, estimated resale value, estimated depreciation, recent and current users, the asset’s location, the state of repair, and any other important information. 

When all of this information is added to the asset register it can be found within moments. There is no need to search in offices for the warranty information, for example. The information can be found quickly and the desired action can be taken. Not only does this feature save time, but it can also ensure assets are replaced or repaired quickly.

Make Use of itemit’s Software Today

Itemit’s asset register software can prove to be hugely beneficial. Offering much more than you think, this software can make managing assets a breeze. Guesswork is removed and management can see exactly what assets they have. Thanks to the way that the software works, asset management is easier. 

Asset registers are hugely important for a number of reasons. They can help businesses to run more smoothly while ensuring the location of all assets is known. Contact itemit’s friendly and helpful team to talk about how our software can help you. You can reach us at teram@itemit.com. Alternatively, you may wish to begin a 14-day Free Trial to see how well our software works for you. Let us take the guesswork out of managing your assets.

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