5 signs that you need to start tracking your assets


Business assets are crucial for the day-to-day operations of every organisation.

That’s why businesses often discover a lot of significant benefits from asset tracking because it helps improve asset use and overall operational efficiencies.

As your organisation expands both locally and globally, more assets are bound to be required across many different sites and locations. The need for a proper asset tracking system is crucial to ensure all equipment and resources will be utilised in the best ways possible.

5 signs that you need to start tracking your assets

Here are 5 indications that can help you decide if you should consider tracking your assets.

1. Is your business often impacted by misplaced or lost assets?

Remember that when you’re trying to organise everything, it’s important to first know what you have. So, start by creating a list of your equipment, tools and vehicles, and include comprehensive asset details along with it.

2. Are you experiencing frequent operational downtime?

There is always a risk associated with misplaced or lost assets. The time spent trying to find and relocate your assets can result in gaps in your business’ operations that can also affect how you deliver services to your customers.

Asset tracking will ensure the most efficient use of your time and resources by monitoring the location of your assets.

3. Do you spend money on unnecessary operational and replacement costs?

Software-based asset tracking solutions can monitor the condition of your assets to prompt you when maintenance is required and determine which assets need to be replaced – helping your business maintain their sound working order and preventing your business from incurring costly emergency repairs or wasting money on buying new assets that are not needed yet.

4. Is your asset reporting inaccurate and slowing you down?

Paper-based systems are subject to human errors and usually consume a lot of time. The use of asset tracking software, on the other hand, is more convenient and precise when it comes to providing records, freeing up your time for more important tasks.

5. Is budgeting and planning difficult due to inaccurate asset data?

If you answered yes to one or more of these questions, it means it may be time to invest in asset tracking practises.

Asset tracking software (like EROAD Where) provides a proper asset management solution to ensure these 5 problems won’t be detrimental to your success.

 

How did you go?

If you answered yes to one or more of these questions, it means it may be time to invest in asset tracking practises.

Asset tracking software (like EROAD Where) provides a proper asset management solution to ensure these 5 problems won’t be detrimental to your success.

Learn everything you need to know about asset tracking
Asset tracking solutions offer a lot of advantages that can help grow your business through the better use of plant, equipment, tools and vehicles. But it’s important to have the right information to achieve the best outcomes.

To help, we've prepared the ultimate guide to asset tracking on our website, which answers all of your asset management questions.

Learn everything you need to know about asset tracking and how to optimise your asset use.

Visit The complete guide to asset tracking now