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Redefining Fixed Asset Tracking for Media & Entertainment Companies

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 “Lights, camera, action!”

Content creation in the media and entertainment industry (including cinema, TV, news, advertising and broadcasting) doesn’t happen in just three words. It needs collaboration among dozens of teams that share thousands of assets, including cameras, lights, projectors, laptops, microphones, hard disks, vehicles, etc. If any item goes missing (especially in outdoor shoots), it could be a ‘pack-up!’ for the day, incurring extra production costs or revenue losses. Besides, producers pay huge premiums for equipment coverage (rented and owned). So, there’s an imperative need for fixed asset tracking in the media and entertainment industry.

Bogged down by conventional fixed asset tracking methods

To avoid content creation delays and reduce overhead costs, media companies should forecast the availability of equipment and plan their schedules accordingly. They need to know:

  • What assets they possess, be it rented or owned, and their stock levels
  • Who is accountable for these assets
  • When they were assigned and when they will be returned
  • Equipment and asset maintenance history
  • Asset capitalization data 

The media and entertainment industry is one of the most tech savvy industries. But it largely relies on paper-based clipboards and spreadsheets for equipment asset tracking. Though some companies have adopted digital solutions, they are often siloed and centralized and unable to create a single source of truth.

Paper forms might feel handy but aren’t the handiest. Moreover, they are prone to errors and wear and tear. How can anyone be sure of data accuracy and reliability?

What if media companies could do away with paper forms and quickly determine the location and status of their assets with a simple QR scan on their smartphone?

Fixed asset tracking on-the-go with mobile solutions

A best-in-class mobile fixed asset tracking solution eliminates the error-prone, cumbersome, manual processes of data collection. Such a solution should eliminate jargon and complex workflows, offering a hassle-free user experience to its users (that include a layman). 

In conventional asset tracking methods, data is manually collected and then fed into the system of records (e.g. SAP, IBM Maximo, etc.). This double work kills productivity. In many cases, the information gets redundant or outdated by the time one needs it. 

Addressing this problem, a mobile fixed asset tracking solution gets seamlessly integrated with the existing system of records and enables authorized users immediate access to the data. They can use their smartphones or tablets to update records with pictures and digital signatures, ensuring data quality, accuracy, and accountability. So, asset managers can know who is accountable for missed or failed equipment.

100% accurate real-time fixed asset tracking

Barcodes or QR codes can get torn considering the variety of environmental conditions to which they are exposed. When an asset manager inspects equipment and finds the labels are unreadable, he can quickly print a label using a pocket printer and instantly update the system of records.

In conventional methods, asset managers  and decision-makers rely on multiple information sources and waste time waiting for the data. This delays crucial planning and decision making. In contrast, real-time fixed asset tracking using a mobile solution enables media and entertainment companies to make well-informed decisions and to effortlessly plan their resources. This will reflect positively in the bottom line of the companies. 

Nowadays, smartphones are capable of creating high-quality content. Why use legacy systems for tracking critical items for content creation?

Learn more about using a mobile fixed asset management solution for your media and entertainment company from our experts. Call 1-844-464-6668 or visit Innovapptive.

Want to watch a free demo of our mobile fixed asset management solution? Click here to request a demo.

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