Why You Need An Asset Management Solution

Why You Need An Asset Management Solution

Why You Need An Asset Management Solution

Asset management is a pillar of business management. To keep your business running efficiently, your assets must be managed well. There’s no other way around it.

While there are quite a few conventional methods to keep track of your assets, today’s fast-paced professional environment calls for an advanced asset management solution. A solution that lets you manage your assets at your fingertips while sharing management responsibilities with multiple team members at once. 

Here are some important reasons why you need an asset management solution. In the end, we’ll also tell you about one of the most sophisticated asset tracking software solutions on the market that’s shareable, scalable, and has an intuitive user interface you’ll enjoy working on.

Why You Need An Asset Management Solution

What is an Asset Management Solution?

An asset management solution is a piece of specifically designed software for asset tracking. It lets you track and manage all business assets from one seamlessly integrated asset register. You can create an asset profile for each item, add its details, images, assign it to a team member and even give it a unique identity with an asset tag

Asset profiles are a brilliant solution to store every essential asset detail in a neat and compact manner so that it’s easy to store, read and share whenever you want. These profiles can be grouped into categories for better organisation. 

Not only that, but an asset management solution is cloud-based which means you can access it from anywhere. All you need is an internet connection and the proper authorization. It can be used via a mobile app or a web portal and can be used by multiple team members at a time for collaboration on a range of business aspects. 

Here are four reasons why you need it.

1. Gives You an Accurate Asset Register

Companies keep an asset register so they can keep an eye on important information that helps them have better audits, more transparency, higher productivity and financial credibility. However, all of this can only be achieved if you lay the foundations right. That means keeping an accurate asset register. 

With conventional asset management methods like spreadsheets, it’s pretty hard to maintain a high level of accuracy consistently. Especially because the chances of human error increase a lot when tracking asset information manually. 

It’s much easier to keep an accurate asset register with an asset management solution. The intuitive interface has a separate place for every piece of information and lets multiple users view the register at once so it’s easy to eliminate discrepancies, if any arise. Furthermore, if you use asset tags, you can directly reach the correct asset profile just by scanning the asset tag. This makes sure you’re not viewing or editing the wrong asset profiles when working with identical items.

2. Saves You Money

There are numerous ways how a state-of-the-art asset register saves you money. In this section, we’ll talk about a few most important ones. First of all, an asset management solution is a brilliant solution that saves you money in asset tracking itself. 

Previously, you might’ve had to use conventional asset tracking methods that required multiple employees to use a significant proportion of their work time just to keep the asset register up to date. This might have resulted in a lot of paid hours every week going into asset management alone. With an asset management solution, you can cut that time by more than half! 

Furthermore, a good asset management solution is scalable software that can help out with every department. This means you don’t have to make additional investments for different asset tracking purposes like IT asset management or keeping a fixed asset register.

3. Makes You More Productive

If you run a tool-intensive business, your employees might spend multiple hours every day just trying to locate tools and equipment to start their work. This might not seem very alarming to you on a day-to-day basis, but did you know that it can add up to thousands of wasted work hours every year?

This has direct results on the productivity of your team. Without the right asset management solution, you cannot realise what you and your team are capable of achieving. 

With an asset tracking solution, everyone can locate the items they need almost instantly. The location of each asset is automatically updated in the asset register every time its asset tag is scanned. To find it, all you need to do is open the asset profile.

4. Helps You Attain Regulatory Compliance

Depending on the industry and country your business operates in, you may need to follow a range of rules and regulations rolled out by regulatory authorities. For instance, GDPR compliance in the EU requires companies to keep a record of all devices they use to store users’ data. 

In the same way, if you work in construction you might have to make sure all construction machinery meets safety requirements. An asset management solution makes it much easier to have a clear overview of all assets you need to track for regulatory compliance.

itemit – The Best Asset Management Solution

As mentioned at the beginning of this post, the ideal asset management software solution is scalable, shareable, easy to use and set up. itemit is all that and much more!

You can start using this off-the-shelf solution right away and start seeing it bear results from the very first day! It’s scalable which means you can use it for any asset tracking purpose from fixed asset management to high-value collection audits or equipment checkout

To learn more about how itemit can turn your asset management around, feel free to reach out at team@itemit.com. You can also try out itemit’s unique features for yourself and get a hands-on user experience with a 14-day free trial. Fill in the short form below to start!

Asset Management Solution 

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How Asset Tracking Can Help With Working From Home

How Asset Tracking Can Help With Working From Home

How Asset Tracking Can Help With Working From Home

Working from home looks a lot like the Fool’s Gold we carried out of 2020. For most of us, working from home was a sweet, but unrealised dream until the pandemic came. But now, as we’re getting more familiar with the work-from-home framework, we’re discovering countless productivity challenges.

Turns out the work-from-home dream wasn’t as sweet after all. But it can be!

Waking up, freshening up, and walking straight up to your workstation with zero commuting costs, and snacking whatever you want along your workday are some of the many perks of remote work. But it has its drawbacks too. The communication gap between you and your coworkers, incessant distractions, and not being able to get into your groove can significantly decrease productivity levels. 

However, itemit’s asset tracking software can give you the productivity boost that you need. Not just that, you can keep employees engaged, increase accountability and enhance collaboration to make remote work even more productive than office work. Continue reading to learn more about how asset tracking helps you while working from home.

How Asset Tracking Can Help With Working From Home

Centralised Platform for All Asset-related Data

Tracking your assets with itemit gives you a single, integrated and accurate source of asset information all team members can use simultaneously. It empowers all stakeholders, including entrepreneurs, managers, employees and external parties like clients and auditors to find, add, edit and track business assets efficiently. 

The best part is, no matter where an asset is, authorised personnel can have all its details at their fingertips from anywhere in the world. This means you no longer have to wait around for other team members to get to know where an asset is, or who has it at the moment. Just open the itemit app, search for the asset name and voila!

Greater Accountability

Remote work can make employees more casual and relaxed about their work. Although this is not all that bad, it may lead to dips in productivity levels. But not just productivity, a weak asset tracking system can also lower asset security. When a lot of assets are being used out of the workplace and are being moved frequently, the chances of asset damage and theft increase significantly. 

itemit brings you the much-needed accountability and transparency you need to manage your company’s tools and equipment well. You can use the assignee feature to assign assets to respective team members. This will not only make each employee feel more responsible to keep their tools safe but also urge them to utilise them properly. 

Furthermore, when someone wants to find an asset, they can simply ask the assignee for its whereabouts rather than emailing every team member for it. 

Check Asset Availability Remotely

Sometimes you might need to fetch an additional asset from the office to get a job done. But how do you know the asset is not already taken by someone else? itemit’s checkout feature offers a brilliant solution.

Every time a team member takes an asset home from the office, they can ‘check out’ the asset with the itemit app. This way, everyone can tell whether or not an asset is available in the office or not. Plus, if you need a particular tool or piece of equipment in the upcoming days, you can book it via the itemit app so no one else takes it.

Schedule Maintenance Remotely

The average business operates a range of assets that need to be maintained regularly. When most or all employees are working from home, such assets can suffer. If not maintained in time, the results may be severe operational and financial breakdowns. 

Asset tracking software lets you keep track of all such assets that need maintenance. This way you can immediately know if an asset needs maintenance now or in the future so you can arrange or schedule maintenance accordingly. This reduces the risk of asset damage and keeps business operations running smoothly.

Why itemit?

There’s a vast range of reasons why you should go with itemit to enhance collaboration on assets with your employees when working from home. This is an easy-to-use and off-the-shelf solution that you can start using right away and you’ll start seeing the results from day one! 

itemit asset tracking is a cloud-based software with more than 2000 integrations including apps like Slack, Trello, Mailchimp, Google Calendar, Google Sheets and Gmail. This means all you need is an internet connection and a smartphone or PC to start using it. 

To learn more about how itemit helps you manage your assets from home, please reach out at team@itemit.com. You can also take itemit for a test drive with a 14-day free trial. Fill in the form below to start.

Asset Tracking From Home 

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How GPS Asset Management Helps You Keep An Eye On Vehicles

How GPS Asset Management Helps You Keep An Eye On Vehicles

How GPS Asset Management Helps You Keep An Eye On Vehicles

If you’re in a logistics-intensive business, your vehicles are literally the wheels of your business. Your cars, cargo vans and trucks are indispensable to your enterprise, and hence they must be protected adequately. 

Now that doesn’t mean you send out escort parties out on the road with each of your vehicles. But you can achieve a similar level of security with GPS asset tracking. Not just security, you can have next-level transparency in vehicle management too.

What is GPS Asset Management?

GPS asset management lets you track the live locations for each of your assets through a streamlined, easy-to-use asset register. Like conventional asset tracking uses QR code asset tags, GPS asset tracking involves GPS trackers.

GPS trackers are battery-powered devices that you can attach to your vehicles. The tracker serves two purposes: it gives a unique asset identity to the vehicle and after regular intervals, pings the live location to the asset management software.

While QR code or RFID asset tags need you to scan them to update the location in the asset tracking software, GPS trackers do it automatically. Not just that, GPS trackers let you track assets from remote locations. The trackers come with an annual data plan and SIM card and can be plugged into the vehicle for power. This means you’ve got live location tracking for your vehicles no matter where they go.

How GPS Asset Management Helps You Keep An Eye On Vehicles

How to Set Up GPS Asset Management for Your Vehicles

Tracking your vehicles with itemit GPS asset management is pretty simple. Here’s a step-by-step guide to help you set it up:

  1. Create an asset profile for a vehicle. It’s a good idea to include the vehicle’s model, registration number and other details.
  2. If the vehicle is driven by a specific driver, you can use the assignee feature to assign it to them.
  3. Head to the Tags section. Here, you’ll need to add the GPS tracker’s IMEI number. You will find the 15-digit IMEI number on the back of the GPS tracker box. Just below the barcode. 
  4. Once you’ve linked the GPS tracker with the asset profile, it will start updating the last seen location automatically. 
  5. The itemit team will help you set the location update interval. Note that you can also use the update button to see where your asset is at any given moment. 

You can watch the video tutorial for GPS tracking setup too. itemit’s location tracking feature shows you a map to see the asset’s location history and all other details right from the app or web portal.

Vehicle Tracking Applications of GPS Asset Management

GPS Asset Management software holds revolutionary potential for your businesses’ logistics department. Apart from vehicles, this software can also be used to track other high-value assets. Although it’s an interesting topic, let’s not stray from the topic at hand. 

Here are some of the most common ways companies use GPS asset management.

Fleet Tracking:

When you’re managing a fleet of vehicles simultaneously, and all of them are operating on different routes at the same time, it can be a bit hard to keep track of things. itemit’s GPS asset management system lets you do it effortlessly. You can keep an eye on your entire fleet from one screen and ensure that they’re reaching their destinations timely.

Car Tracking:

If you’ve given out cars to your employees for business use, tracking them with GPS asset trackers is a good idea if you want to make sure the vehicles are not being used for non-work purposes. It also makes the driver more accountable and ensures their safety. Similarly, you can use itemit to keep track of personal or domestic cars to keep a check on where they’ve been.

School Bus Tracking:

GPS asset management is a great solution for admins to bring much-needed security and transparency into school transport. You can track location to make sure the vehicles stay on route and reach their destination on time.

Taxi / Rental Car Tracking:

If you run a taxi or car rental service, GPS asset management can be a great tool for you if you want an easy solution to tracking all vehicles at the same time.

Why itemit?

You can use itemit’s GPS asset management software to track a wide range of assets, all from one place. One of the biggest reasons to go for itemit is that it will not only help with logistics but every department of your enterprise. 

It has highly customisable features which means you can track vehicles along with fixed assets, IT assets, tools and equipment. You can either keep all of them separately or together in your asset registers.

Also, you can combine and match a range of asset tracking technologies. You can use GPS asset trackers for your vehicles and QR code tags for other tools and equipment. This scalability makes it the best GPS asset tracking software you’ll find on the market. 

Our highly professional customer support is always here to answer your queries and solve problems for you. If you need a hand in setting up asset tracking, we’ll be there to help. To find out more about how itemit can help you track your vehicles, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

GPS Asset Management 

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What Is Software Asset Management?

What Is Software Asset Management?

What Is Software Asset Management?

Software asset management or SAM is a subset of IT asset management or ITAM. IT asset management involves tracking any asset that is linked to IT processes in your organisation. This includes all sorts of hardware and software.

As the name suggests, software asset management includes only the latter. SAM is a business strategy for managing and optimising how your company purchases, deploys, maintains, utilises, and retires software assets. 

Software asset management, in many ways, is different from conventional asset management most of us are used to. This post aims to get you familiar with the idea, understand how SAM works and how to implement it in your business operations.

What Is Software Asset Management?

What are Software Assets?

Before we understand how software asset management works, it’s necessary to get familiar with the definition of software assets. Some of us already know what it is, but some don’t. Let’s make sure everyone is on the same page before moving forward.

A piece of software is a computer program that tells a computer how to work. It can be something as basic as the operating system such as Microsoft Windows or Linux, common apps like MS Office or more complex programs like project management or graphic design software. 

Now, a software program is a business asset if your company has purchased it, owns it and uses it for its operations. Although these are intangible assets that do not hold physical value, they still are an important part of a businesses’ financial structure and define how it goes about its day-to-day work. 

When it comes to using Software as a service, there are different schools of thought as to whether they qualify as an asset or not. It depends on your business. If you’ve not purchased a piece of software fully, but only use it with a weekly, monthly or annual subscription, then you may account for it as an expense rather than an asset. But again it’s up to you and your software asset management goals.

5 Benefits of Software Asset Management

Just like you can make duplicate purchases when buying other business assets, you can buy software licences in excess too. SAM is a smart approach businesses use to balance the software licences they purchase with the number of software licences they bring into use. 

Since these are intangible assets that you cannot see sitting around the office unused, it becomes even easier to purchase licences wastefully. Software asset management helps you make sure you buy only what you need.

Here are a few of the most important benefits of software asset management:

1. Save money

Your organisation can consolidate its software utilisation, have more control over acquisition costs and make well-informed decisions regarding future investments in software with SAM.

2. Better Strategising

One of the most essential functionalities of SAM is to offer you a clear overview of all your IT or software investments so you can utilise all of them towards fulfilling your business goals.

3. Avoid duplicate purchases and repurpose software

If the HR framework of your organisation involves employees moving positions frequently, you might end up buying a lot of software licences wastefully. SAM lets you track all software the company has so that it can be reallocated and repurposed when no longer in use.

4. Faster, cheaper and better management

As compared to conventional methods of tracking software licences that take up much more time, money and have a greater risk of error, using SAM systems offers you a competitive edge. Using a SAM system can cut software management costs and time by half, letting you allocate your resources to other aspects of your business.

5. Stay clear of fines

If you’re not tracking your software assets, you may incur penalties that can cost you a fortune. With SAM, licence deficits can be kept to track and addressed ahead of time.

Apart from software, you can track digital assets like important files, databases, NFTs and crypto-assets. The asset management system enables you to add, edit and keep track of all your digital assets from one streamlined platform.

itemit’s Software Asset Management System

itemit gives you a simple, easy-to-use and highly scalable off-the-shelf solution to track all your business assets including software. Not only that, this SAM solution lets you share asset tracking responsibilities with your teammates. Everyone can download the free itemit app on their smartphone or access the web portal. 

Authorised personnel can view, add and edit software asset details so the software asset register is kept frequently updated. To learn more about how itemit can help you track your software assets, kindly reach out to us at team@itemit.com

If you want to test it out for yourself, fill in the form below to kickstart your very own 14-day free trial!

Software Asset Management

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What Are IT Assets?

What Are IT Assets?

You might end up jotting down an endless list if you tried to enumerate all the IT assets your company owns. This calls for robust ITAM. But what’s that?

read more

How Santa’s Elves Track Their Assets

How Santa’s Elves Track Their Assets

How Santa’s Elves Track Their Assets

This Holiday season, you won’t find a better entrepreneur than Santa himself. With his team of elves, he’s managed to develop a global enterprise that’s famous for its world-class information management, spot-on customer support and impeccable service. 

Oh, and the robust logistics! Christmas presents are delivered just in time all over the world, and all to the right addresses. And Santa does it all with a big HO HO HO laugh! 

The earnest business owner is, no doubt, really impressed observing such effortless and professional operations management. How does he manage it all? 

Here are some business tips from Santa. These are nice to have, but he’s kept his most valuable practises secret. He won’t tell you even if you ask him!

Psst! We know them…

How Santa's Elves Track Their Assets

What’s the Secret to Santa’s Unmatched Management?

As we know, Santa’s not a one-man show. He’s got his team of elves that help him manage everything from receiving letters from all over the world, sourcing and building presents and delivering them on Christman eve. So, how does he manage to keep his business operations going smoothly at such a vast scale? 

Here’s the big reveal: All of this is made possible with itemit’s asset tracking software!

Santa and his elves have to deal with billions of presents every Christmas! With so many presents that have to be delivered to so many locations all over the globe, things can get hectic. There’s no other way Santa and company could make sure each present goes under the right Christmas tree if they didn’t have itemit.

How Do Santa and His Elves Use Asset Tracking Software?

It all begins when you write a letter to Santa about what you want for your Christmas present and post it over to the North Pole. As soon as the elves at the North Pole post office get your letter, they arrange your present and prepare it for delivery.

The elves use an asset tag to tag your present and set up an asset profile in the itemit app. This way all the other elves and Santa are notified that your present is ready to be packed and loaded onto Santa’s sleigh.

Christmas Present Visual Verification

The itemit app also has an option to add images. The elves take a picture and upload it to the asset profile so that Santa can check if they got the right present for you. This way Santa doesn’t have to leave his warm office and can see each present right from his mobile phone or web portal. 

Yeah, Santa uses all that tech. How else do you expect him to run such agile operations!?

Packing Up Presents

Once approved, your present moves to the next phase where it’s all packed up so it’s ready to deliver. As soon as your asset is packed, the elves scan your present’s asset tag to reach its asset profile and move it to the ‘packed and ready for loading’ category.

How Santa's Elves Track Their Assets

Loading Presents with Asset Tracking Software

When the elves in the logistics department see that a present is ready for loading, they pick it up and load it on. They never forget to scan it once again so they can update the asset profile and move it to the ‘loaded presents’ list. 

With itemit, Santa has a clear overview of each phase. He can track your present right from the moment the elves bought it to when it was loaded onto his sleigh. Asset tracking software allows the elves to make sure no present goes missing or unreported all this time. But not just that, asset tracking has a crucial role to play when Santa is finally delivering presents.

Present Delivery 

So how does Santa remember all those addresses? How does he know which present goes where? Especially with everything packed up, there’s no way of differentiating one box from another! 

Santa tracks his assets, or presents, with itemit, and that helps him deliver the right present to the right address. As he flies on his sleigh, he scans your present with the itemit app and finds the asset profile. The elves have already recorded your address and all the other details he needs in the asset profile. And that is how Santa is able to deliver so many presents all over the world and get it perfect every time!

Try itemit For Yourself

If you want your business to become as legendary as Santa’s, you’ve got to have itemit by your side. Its asset tracking software solution leads the industry with its extreme scalability. 

Just like Santa can share it with his elves for seamless collaboration, you can too! Your team members can view, add and monitor assets from wherever they are. itemit can help every department and can be used as a fixed asset register, for equipment tracking or high-value collection audits too!

To find more about how itemit can help you and your team of hardworking elves, reach out to our team at team@itemit.com. Or fill in the form below to start your free 14-day trial.

Santa’s Secret To Asset Tracking 

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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