Fixed Asset Tracking: Keeping Track of Business Value

Tracking your assets sounds so simple, but actually, it isn't. Tracking an asset's location, its current condition, purchasing history and depreciation value is a challenging job for managers, supervisors and especially those who handle fixed asset management from multiple locations. If you don't know the exact number and types of assets you own, and whether they are working properly or not, you may end up buying them twice. While a few assets remain in good condition for a long time (many years), others become obsolete within a short time. If you neglect to keep your organization's assets properly tracked and maintained throughout their life cycle, their value decreases and you potentially overpay on your insurance and taxes.

Believe it or not, many organizations still use manual, inaccurate, and time-consuming asset tracking processes such as spreadsheets, logbooks, or worse. These tedious manual processes may cost organizations thousands of dollars in replacement, reordering, repair, paying fines, and lost productivity. Beyond the costs, these processes negatively impact the organization's products and services and result in decreased customer satisfaction. 

 

Mobilize Your Asset Intelligence

Fortunately, there are easy to use intelligent technologies that can help. Replacing antiquated manual tracking of assets with modern solutions and systems enabled with smart technology drastically reduces the costs associated and helps maintain higher accuracy at your year-end financial statements. By simplifying fixed asset tracking with modern technology, organizations can improve an asset's lifespan, minimize equipment unexpected failures and downtime, and control ghost assets.

It's critical for enterprises in asset-intensive industries to have easy and real-time access to information on their fixed assets to determine the useful life of assets – which are worth keeping and which are costing them more than they're worth. If you are looking to upgrade your fixed asset management tool's capabilities, you will need to ensure the technology is compatible with your existing applications. Innovapptive provides an award-winning SAP Certified solution to redefine your existing manual, cumbersome, or expensive processes and better manage and track your fixed assets.

 

Innovapptive’s Enterprise Asset Management solution works with consumer grade or industrial rugged mobile devices to provide anywhere-anytime access to information, features, and support — in online or offline mode.

 

Increase ROI and Reduce Inaccuracies

mAssetTag is an intuitive fixed asset tracking, geocoding, and reconciliation mobile solution that helps automate your physical inventory and reconciliation process. It provides you real-time information throughout the asset life cycle and eases the asset management process resulting in over 40% improvement in employee productivity during audit cycles. Using native mobile device capabilities such as GPS, camera, and barcode readers, it enables asset managers to quickly conduct multiple inventories and reconciliations across various sites using a single, easy to use mobile solution with built-in integrations to your back-office SAP or ERP systems. mAssetTag is fully configurable with Innovapptive's patent-pending Rapid App Configurator Engine (RACE™), which enables no-code/low-code customization and configuration of mobile applications in seconds—no downloading of app updates needed.

 

Innovapptive’s Enterprise Asset Management Software will predict failures and empower technicians with secure, real-time access to all the information they need to respond and resolve issues quickly. Request a demo to learn more!

 

With Innovapptive's Connected Workforce Platform, you can closely monitor your employees, assets, and equipment across different locations, address safety concerns, develop proactive compliance processes, and eliminate risks before they escalate. The platform mobilizes the workforce, digitizes mission-critical information and automates day-to-day tasks while providing real-time visibility into all areas of operation.

 

 

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