Equipment tracking software plays an important role in modern-day workplace management, documenting all the assets of an organization. However, some companies still choose not to utilize this tool. In fact, several small businesses that have low numbers of assets tend to keep track of their resources manually until now. While there’s nothing wrong with this, opting to do everything by hand can be difficult as the company grows. Here are some of the challenges of asset tracking addressed by equipment tracking tool.
1. Human error
It is normal to commit mistakes – and using traditional methods to do asset tracking makes you prone to it. This could waste your work effort, especially if your company deploys hundreds of assets at once.
For instance, a team leader just uses a spreadsheet to monitor devices, software, and other equipment. If the data gathered is stored in a local PC, the other teams won’t be able to access it. Without seeing the updated inventory details, your employees might make errors and the productivity will suffer down the line.
2. Theft occurrence
Imagine this scenario. One of your employees needs to use a certain software but after several searches throughout your workhouse, the tool needed cannot be found. This is a case of bad asset management. What if the software was stolen from your company? Equipment theft can affect your company operations and hamper project deadlines. Such incidents often result in loss of profit and decrease in productivity.
3. Maintenance issue
One of the challenges of companies is equipment maintenance. If a machine suddenly breaks down while the work is in full swing, it could halt all the progress you are making. Having regular maintenance is necessary to run business operations smoothly and save your company from downtime. Fortunately, with an equipment tracking software, you’ll have a dedicated tool that oversees when a maintenance is needed.
The lack of equipment tracking could pose several consequences. This includes production loss, project delays, waste of resources, over time of labor due to downtime, and malfunctioning equipment even before its end of life.
4. Wrong Inventory Estimation
When you’re stocking up on assets, it can be hard to determine how many pieces of hardware or software you’re going to procure. What if your employees need to work from home and request a laptop from you? Do you have enough equipment to provide them so they can perform their tasks?
If you have an equipment tracking tool, your business stays ahead of the game. This tool can make you plan in advance what assets to buy and when to purchase them. You can avert costly interruptions by making sure that there’s no shortage in equipment or that they are working well.
5. Resource wastage
Assets that are nowhere to be found can have adverse impacts on a company and its operations. When a required piece of equipment is not available, it can cause loss of labor hours, work stoppage, delayed projects, and employee inefficiency, as they will have to wait until the substitute equipment arrives. If a worker waits for ten minutes and you have 100 employees, your organization loses 1000 minutes a day. This will hold up your operations and your resources won’t be used effectively.
How does equipment tracking software address these common issues? - Provide h3 tags In response to these challenges, businesses can use equipment tracking software. It enables real-time monitoring of IT assets, ensuring the productivity of employees and the organization as a whole.
The equipment tracking software collects important details such as:
- the number of assets you own
- the specification of each item
- the exact location of an asset
- its current condition
- when the asset needs to be updated, maintained, or replaced
With the assistance of equipment tracking software, the user or company will be knowledgeable about its assets. In addition, this tool schedules activities without disrupting daily work, so if you want to know the date of its last maintenance or its next checkup, you can just consult the platform.
A digital inventory can keep track of assets and maintenance activities in a simple and affordable manner. Instead of using spreadsheets to collect important asset details, you can procure an equipment tracking software to digitize manual processes.
Regardless of the size of your organization, we can help with your asset management needs. Let us assist you in monitoring your equipment throughout their entire life cycle while you focus on achieving your business goals. Partner with ITarian today!