Asset Tracking Software: Use it to Add Value to your Audits

Audits and Asset Tracking Software

Asset tracking software is a great investment for businesses. It can help keep your equipment organized, manage checkouts and check-ins, and run reports for detailed insights. It’s also a good way to check that your business assets are where they’re meant to be, and are in good shape. This kind of complete asset lifecycle management not only optimizes workflows and ensures smooth processes, but also saves time and money for the astute Sys Admins out there!

A major aspect of this is monitoring checkpoints in the asset lifecycle, whether it’s ensuring that all items were received against a purchase order, or seeing which items were never returned after being checked out for maintenance. All of this is made possible through the use of audits. Auditing is a great way to double-check your data and ensure the information you have on hand is up-to-date. This article will talk more about using audits with asset tracking software, and the kinds of benefits this will afford you and your business!

Make your employees accountable

One of the main purposes of audits is to ensure that your employees remain accountable. For example, say a set of tools that had been checked out for use at a specific project site was never checked back in to the tool room. If your company does a weekly or monthly audit of these tools, it can not only very easily point out which tools were missing, but can also establish whose custody they were under when this happened. In this way, auditing is a great tool to help employees be more responsible about the items under their care. The ability to do all of this ‘on the go’ through a mobile app makes it all the more convenient and easy to execute!

Establish predictable routines

Strategic plans and tactical overhauls can be good for a company if done sparingly and well. However, what’s really underrated in this day and age is a routinized business workflow. For a system administrator or tool crib manager to know exactly what’s expected of them would not just save them a lot of time, but would also smooth out the workflows and ensure everything runs seamlessly. Therefore, audits make it easy to establish predictable sets of tasks which need to be carried out at set intervals. They enable you to check asset databases for errors and set things in motion to fix any damage done. Clearly, this is a huge help for the overall functioning of asset-intensive tasks.

Setting up fixed schedules around auditing helps organize your assets.

Be committed to compliance

Compliance is a huge issue for some businesses. Whether it’s for health and safety reasons, or to achieve certain certifications or industry requirements, businesses that don’t take compliance seriously suffer greatly as a result. The audits module in asset tracking software can help you comply with these terms with ease. This is because audits carried out with external scanners or asset tracking mobile apps are extremely intuitive, quick, and can be carried out by anyone. This eliminates the need to have specialist tools or personnel in charge of helping your company gain compliance. You can do everything you need to, right from your mobile phone!

Do away with the losers

Audits can help you make sense of all the data you have. You can run all kinds of reports on the audits you’ve run, gaining valuable insights into your asset management needs. Audits are also great for streamlining your asset catalog. This means that you can get rid of items if they’re under-performing, are slow, or need to be serviced more than others in the same category. This kind of ‘spring cleaning’ for your equipment helps ensure that you’re only working with the best items that offer the highest returns on investment. Of course, this benefit extends to all kinds of tasks. Say an audit helps you see that you’re losing a lot of equipment at a particular project site. Once the issue is flagged up, you can spend some time figuring out and eliminating the issue for good!

Reliable equipment means fewer obstacles to getting the job done on time.

Safeguard your reputation

Audits aren’t just about making sure equipment is where it’s meant to be! Audits executed through asset tracking software can carry a lot of different meanings depending on how they’re carried out. For example, you can carry out a maintenance audit to see what kind of shape different items are in. This can help you identify not only those items which haven’t been serviced properly, but can also help expose the vendors or staff members associated with these jobs so that channels of communication can be re-opened, and the items sent back for proper maintenance. These kinds of audits, when carried out regularly, can therefore ensure that your reputation is never tarnished by a job done poorly because of faulty assets!

Read More: Maintenance Management and KPIs

Conclusion

Audits are a great way of keeping employees accountable, ensuring that assets are in good shape, and improving the accuracy of data at hand. This is important if you want to be able to establish set routines to help you achieve error-free asset management. Not just this, but audits help you get rid of the dead-weight and focus only on resources that are going to be profitable for your business. This is why asset tracking software is a great tool to have to carry out audits. This in turn enables you to efficiently manage assets and improve employee productivity, all in one go!