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Asset Tracking Software Buyer's Guide
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For any business or organization, assets are crucial components. However, managing, locating and tracking these assets is a challenge for all sizes of businesses. Tracking an asset’s life-cycle saves money and gets more value out of it. Though tracking assets are mostly time-consuming, asset management tracking tools can simplify your work.
What is Asset Tracking Software?
The goal of Asset Tracking Software is to maximize asset efficiency and minimize the loss of equipment. Knowing the detailed information about an asset will help an organization save its money and time includes: from where it is, who has it, when is it returned, if repairs or maintenance required, and any certifications to update is tracked. An asset management software allows companies to track their assets in real-time, accurately and efficiently.
What are the Features of Asset Tracking Software?
The key use of asset tracking software is to save your money. No matter, which asset tracking software you want to choose, every feature in it should ideally help you to retrieve your costs in one or another way. Considering the features of any asset tracking system, you need to carefully look for the following, before you invest in one.
› ASSET LIFE-CYCLE MANAGEMENT: The best asset tracking software facilitates organizations to track every single detail of an asset, including its location, maintenance schedules, repairs, and other crucial information.
› SIMPLIFY WORKFLOW OPERATIONS: The software must improve your equipment inventory management by streamlining workflows. Because, having information about: what’s required, who has it, when it’s due back is necessary.
› THEFT RESTRICTION: Detecting theft of an asset is necessary, as it may cost your company a lot without even realizing it. A good asset management system helps managers know if any unauthorized asset use occurs and deals with insurance when theft occurs.
› EASY DEPLOYMENT: Ensure that your asset management tool has an easy deployment method, as data migration is one of the biggest concerns. Managers can keep track of the asset’s location and utilization, all in one central dashboard is possible with asset tracking.
› DATA HISTORY: A good asset software must allow you to create customized reports easily. The data history will be easier to accomplish and saves time, giving more productive results.
› USER-FRIENDLY SOFTWARE: The software must be able to use anywhere, anytime and from any device. The software must be user-friendly with technical access whenever some issue arises.
› SECURITY: The software must allow you to set up access to define who will have access rights to specific asset types. Restriction rules such as: what can be viewed and edit, set up data administration tools, reports, and modules.
What are the Benefits of Asset Tracking Software?
With Asset Management Software, you can create and manage all your organization assets in a single system. There are several other benefits of Asset Tracking Software. When implemented properly, asset management has desired outputs for organizations. Some of the benefits that are most advantageous of using asset tracking software are listed here:
› LOW ADMINISTRATIVE COSTS: Asset tracking helps the administrative department to track down assets manually, reducing human errors. This saves them more time, allowing them to focus on other revenue-generating responsibilities.
› ENSURES ACCOUNTABILITY: If assets were not tracked properly, companies could experience great loss sometimes without even realizing it. Asset management software helps avoid these losses with accurate tracking of assets, holding employees accountable for handling them properly. Improves Customer Service – The customer service can benefit from the company’s internal improvements, be it well-stocked inventory or better-informed employees.
› PREPARES FOR FUTURE GROWTH: The Measuring business growth with manual asset tracking is difficult. The software helps you to identify the trends of asset utilization, openly helping in business growth.
› IMPROVED EFFICIENCY: Asset tracking tools provide deep insights into the performance of your business physical spaces, as it is important to identify which sector uses assets that simplifies business operations. Asset tracking allows you to anticipate asset needs beforehand.
› MAINTENANCE OF CERTIFICATIONS: With asset management tools, you track more than manual information, including information regarding certain regulatory compliance and certifications.
› IMPROVES ACCURACY: Accurate tracking helps to understand where assets are, how are they being utilized, and what steps are required to keep assets to put into action all the time.
› CREATES CUSTOMIZED REPORTS: Asset tracking software generates customized reports of assets quickly and easily. This also includes asset utilization, location, maintenance and lease information, and cost reports.
What is the Cost of Asset Tracking Software?
Asset tracking is vital for any business bottom line and compliance because you will be responsible for locating and replacing your physical assets. Asset tracking software ensures your assets are up-to-date in all means and actions, saving your company costs and reducing labor. Every software has its features, and it’s upon you to decide which software suits your company. Get clarity on what features you are looking for in the software, and plan for the budget. Then find out each of the best asset tracking companies quotes and what they have to offer you.
By comparing the features and prices of the software before you invest in one of the software, you will benefit more. You can also download the software, which can be used as a free premium. The prices of each of the best asset tracking software vary depending on their features, availability in the market, the package you choose, and the size of your company. The price starts from as little as $19/month for small businesses and $3000/month for large companies. To learn more about the best asset tracking software available in the market today, try their free trial version to know how they work, and how well they are suitable for your company’s needs.
Conclusion
Asset tracking is an important part of today’s workplace management because you wouldn’t know what it’s costing you if you don’t know what you own. With lots of asset tracking software available in the market, your decision to choose one must be careful, considering what your company requirements are. Before you decide on one software to invest in, shortlist a few of the best asset tracking software’s from the market and ask for a demo and request for the quote from them.