Asset Management Software

Technological advances in asset management software make tracking valuable resources easy and efficient. Businesses invest hundreds of thousands of dollars into expensive equipment, computers, vehicles, and supplies; but keeping track of where assets are can be overwhelming. Thankfully, today's small and large enterprises can utilize the latest software to provide an accurate accounting and save thousands each year in losses. From a PC down to a pencil lead, asset management tools exist to track which employees are in possession of company assets, when maintenance is required on equipment and vehicles, and which vendors to call for reorders. Once a company's database has been established which includes every asset, its description, digital image, and date placed in service, it's easy to find with the click of a mouse. Shop supervisors can instantly find tools that have been checked out by employees, due dates for service, and even when those items are overdue.

Asset-intensive businesses, such as machine shops, automotive parts stores, tool and die manufacturers, heating and air conditioning companies, plumbers, and building contractors have to be able to locate equipment, parts, and vehicles to realize greater profitability. Companies that invest hundreds of thousands of dollars in inventory cannot afford to have assets unaccounted for. Without asset management tools, unfortunately, employees can steal expensive parts; some operating jack-leg enterprises right under employers' noses! Unscrupulous workers often rationalize that owners are wealthy enough to share tools, equipment and computers without feeling the pinch. Many don't give a second thought about lifting valuable assets from employers, nor do they realize that replacing assets results in higher consumer prices and lower wages. Firing dishonest employees may result in high worker turnovers and more expense incurred replacing staff. The cost of reordering stolen or misplaced parts can quickly add up and those costs can not be passed on to the customer. Time lost reordering or trying to recover missing equipment and parts can cost business owners unnecessary expenses and can threaten the viability of most operations.

Corporate theft is a huge problem among our nation's businesses. Employees who routinely and without conscience steal small and large items from employers for personal use or monetary gain are unaware of the financial burden it imposes on owners. While respectable individuals strive to live above reproach, workplace theft can mar an otherwise exemplary reputation. Jesus addressed the issue of impropriety in Mark 7:20-22: "And he said, That which cometh out of the man, that defileth the man. For from within, out of the heart of men, proceed evil thoughts, adulteries, fornications, murders, thefts, covetousness, wickedness, deceit, lasciviousness, and evil eye, blasphemy, pride, foolishness: All these evil things come from within, and defile the man."

Wise business owners can implement an effective loss prevention program by utilizing accurate asset tracking tools. Asset management software enables business owners to track each part, equipment, or vehicle with service instructions, vendors, and contacts right from the database. Model identification and serial numbers are easily accessed, along with a photo, owner's manual, and chronological service record. Asset management tools include bar code scanners which allow users to scan items and serial numbers for a quick search without having to go through the warehouse to find extra stock or check on the number of available parts and supplies. Companies with multiple employees using the same equipment at varying times can trace a history of ownership, detailing when, where, and how long each employee handled a piece of equipment. Business owners can even track fuel and oil expenses, repair histories, and preventive maintenance scheduling for each vehicle or expensive equipment accessory or item.

Some asset management tools offer detailed tracking including floor plans of each piece of equipment's location in the warehouse or job site. Imagine being able to locate a single computer, or something as small as a wrench, based on floor plans generated by highly accurate software. Tools to locate and track assets can be used to generate inventory reports, prepare accurate invoices, and plan future acquisitions based on current equipment usage and maintenance. Digital tracking helps increase productivity, reduce loss, and assist with time management. User-friendly navigation and help menus, windows-based platforms, and colorful screens make using the software simple for even novice PC users. Most management software is compatible with later PCs or servers and operating systems, from the antiquated Windows 98 to later platforms, such as Windows XP and the newer Vista. Users will need at least 32 MB RAM and 10 MB of free hard drive space.

Business owners and contractors seeking a better way to keep tabs on valuable assets should browse the Internet for vendors of asset management tools and software. Most packages are affordably priced and come with limited tech support. Some vendors also offer onsite training and assistance in setting up databases to help get entrepreneurs up and running for additional fees. Owners can compare pricing online and determine which system best meets the particular needs of the industry. Some companies offer free trial downloads which may be helpful in deciding which asset management software is appropriate. Firms may also provide links to user guides, frequently asked questions (FAQs), and testimonials from satisfied customers to give potential software buyers a better idea of the performance of management software packages. In the final analysis, investing in asset management software may be the best solution for preventing valuable assets from walking out the back door. It is well worth the money spent on protecting valuable company assets to help prevent losses through theft and mismanagement and realize greater profitability.

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