Challenges In Asset Tracking And How Mobile App Can Solve Them

The most crucial element of Fixed Asset Management- tracking and monitoring is not limited to any industry or company-it is a cross-industry issue because most companies are not equipped with the right digital solution and face many challenges. To eliminate bottlenecks in asset tracking and monitoring, organizations need to have accurate and reliable information about their assets which is not possible in a paper-based asset tracking process. Here, the significant role of the Asset Tracking App comes. It is the most demanded Enterprise Mobility Solution. Enabling remote access to your data, the app makes it easy to speed up your asset tracking routines and eliminate errors caused by paper-based processes. Whether you are tracking desktops/laptops, printers, furniture, vehicles, tools, or equipment, the pre-built mobile app is easy to get started with its user-friendly features incorporating barcode/QR code technology. Let’s discuss how Mobile App can Solve Key Challenges in Asset Tracking and Monitoring:

Assets Management

For businesses of all sizes, managing multiple assets can be a daunting task. There are a variety of assets that businesses need to keep track of, from IT hardware to equipment to vehicles. And if these assets are not managed with accuracy, it can lead to several problems, such as lost or damaged assets, decreased productivity, and more. Hence, it's imperative to have a clear understanding of what you have in stock and where it is located. This can be done using Asset Tracking App. It can track the movement of assets and help you keep tabs on what you have on hand by simply scanning the attached barcode. Additionally, it can help you in managing various tasks associated with asset management like asset allocation/reallocation, service requests, reports, etc.

Difficulty knowing what assets you have and where they are located

If a business does not know what assets it has, it may miss out on opportunities to generate income or it may be unable to keep its operations running smoothly. It happens when businesses don’t have visibility into their assets. Asset tracking and audit become even more critical when your assets are located at multiple locations due to diverse business operations. As asset transactions at individual locations do not get recorded and updated on time in the central asset database, it negatively impacts the accuracy of asset verification.
By putting Asset Tracking App in place for tracking fixed assets, businesses can increase the visibility and record asset transaction from anywhere at any time.

Not knowing the value or condition of your assets

One of the biggest mistakes, one can make when running a business is not knowing the value or condition of one’s assets. This can lead to all sorts of problems down the road, from overpaying for assets that are in poor condition to not having enough insurance to cover them in the event of a disaster.

To avoid these problems, you must have a firm grasp on the value and condition of all your business assets. This includes everything from your office furniture to your company vehicles. By using Asset Tracking App, you can assess the condition of your assets easily and raise a service request on the spot. You will also be get notified about the status of your service request like whether it is in process or closed. It helps you in maintaining your assets in good condition and saves you from overpaying.

Don’t know the accurate estimation of the number of assets

When it comes to stocking up on a particular asset, determining the accurate amount is not possible if you don’t have an up-to-date record. For some industries like healthcare, situations like out-of-stock or overstock can pose problems as medicines and medical equipment are expensive and if they get expired, it can incur a huge financial loss. Asset Tracking App is the best way to digitize your assets and keep updated records with the right estimation of your assets and their warranty.

Finding lost or missing assets

Missing assets and equipment can adversely affect a business and its operations due to lost man-hours, and work disruption in finding information about those assets. When a required asset is not found, operations get disrupted or delayed as the employees have to wait until a substitute asset is provided. This issue can be eliminated using a Mobile App for Asset Tracking that helps you to monitor your assets and access any asset information in real-time.

Time-consuming and inaccurate Asset Audit

Asset audit is a significant step in efficient asset management. However, manual asset verification is a tedious and time-consuming process that results in an inaccurate report. It causes poor compliance and avoidable tax-penalty. The best practice to solve this issue is Asset Tracking App that enables you to verify assets quickly and create accurate reports. You can also check the status if an asset is not present, present, or present with incorrect data like the tagged asset is not the same as what the system has specified.

How ESS Can Help Enterprises In Solving These Challenges

Globally recognized Enterprise Mobility Solutions Provider-Eastern Software Solutions focuses on delivering business agility and mobility through industry-specific digital solutions including Asset Tracking App on the cloud. We aim to maximize process efficiencies and foster innovation through our all-in-one digital solutions that streamline and automate your processes. By providing a ‘new-age’ and ‘next-gen’ Asset Tracking App, we have enabled our clients to unify their daily-routine asset operations such as asset allocation/reallocation, service requests, monitor movement, and much more in a feature-rich mobile app that can be accessed from anywhere, anytime.

If you want to get started with digital asset tracking and monitoring then Mobile App can be the right and cost-effective solution for your business. Talk to our Mobility Solution Experts today.

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