You have just received a bill for some of the tangible assets used in your business. You went through the list and found that some of these items were believed to have been out of use for a long time. Now you are wondering whether those assets are still in use, who is using them and where.
Have you ever thought about getting back the printer that was assigned to the quality control department?
How about the flatbed truck at logistics?
And where’s the water tanker assigned to one of your manufacturing units?
You don’t have to puzzle over these questions if you use a good asset tracking and management system.
Misplacing an Asset Could Cost Your Business
A company deploys a number of assets, such as vehicles, machinery and equipment, for its business. Employees use these assets frequently under supervision.
The asset management department checks the assets in and out in a register whenever they are assigned to a person. But sometimes the register entry for a particular asset is missed or forgotten.
Also Read: How Self-Audits Can Ease Asset Physical Verification
That can lead to misuse of assets or loss of property. Over time, these assets may become unusable, malfunction or wear out from overuse. Meanwhile, the company is still paying bills for them.
In other cases, an asset is being used by certain people and the company has no idea. If a “missing” asset falls into the wrong hands, the consequences can hurt the company or the owner who provided the property.
Supervise Your Workstations with Asset Tracking Software
Asset tracking helps you locate your assets so your business keeps running smoothly at every workstation. Asset Infinity, an online asset application, gives you a portal where you can number your assets and track their movement.
This computerized maintenance management system (CMMS) lets you identify each asset and its current condition. With Asset Infinity, asset numbers are generated from a number series, and you can tag your fixed assets with QR, barcode, NFC or RFID labels.
You can describe each asset with its category, location, manufacturer, model and serial number. With this maintenance management software, you can also record purchase dates and cost, warranty expiry and contracts such as insurance.
Every asset has a status. When assets are assigned, you know which asset is kept where and who has it.
Share Asset Information Across Your Business
Asset maintenance management software has clear advantages over paper-based management. In Asset Infinity, all the data is recorded digitally on a secure cloud-based platform.
You can add and manage administrators and employees, with roles that decide what each person can see and do. Because everyone works from the same records, different departments in your business know the status of each asset.
The Asset Infinity mobile app runs on iOS and Android phones and tablets, and people at a desk use the web app.
You can link assets together by giving an asset a parent asset, so related equipment is grouped and easy to find.
Stay Alert with Asset Infinity Asset Tracking Software
With asset tracking software, you have all the information about your assets in your app. You will no longer be in the dark. Asset Infinity comes with many features, including statuses that show where each asset is in its life.
The default statuses include planned, standby, operational, under maintenance, breakdown, retired and disposed, and the status history is kept. When an asset is disposed of, you record the reason, such as sold, scrapped, lost, donated or transferred.
With Asset Infinity, you can record who is responsible for each asset as its custodian. You can also record contracts on assets, such as leases and rentals, so you know the status of equipment you rent or lease.
You can track the depreciation of assets from their purchase details. During verification rounds, you record each asset’s condition as good, fair, poor or unserviceable.
Also Read: 5 Detailed Reports Expected from Asset Management Software
Keeping Every Asset Accounted For
Asset Infinity is asset tracking software with a mobile app. It lets you track your assets using barcode tagging, QR codes, RFID tags and NFC tags.
Other features include asset audits and physical verification, maintenance management, utility monitoring and reports on your equipment that you can use from anywhere, at any time. Asset Infinity offers a free 14-day trial.