Three signs you need an Asset Management System

Posted on Posted in Asset Management, Resource Management

Before we begin, let’s make sure we are all on the same page. Asset management is about making sure that all the valuable items your company buys are both accounted for and being used. Basically, if your company owns or leases it, you need to know where it is and whether it is being used, and make sure it is maintained properly. Some of our most important assets are the computers and monitors and projectors that help us build, sell, and support our software and the servers we host it on.

Inaccurate spreadsheets are costing you money

Spreadsheets are still one of the most the most common ways that companies start tracking what they own. Although these may work fine at first, they don’t stay accurate very long. In fact, Sage Accounting found that a $2 million company using spreadsheets to track their assets could be spending as much as $50,000 a year on “ghost assets,” or items that they are paying and accounting for in their general ledger but that are physically missing. If this is the case, you need asset/resource management software.

Your companies growing and you’re struggling to keep up

Two of your employees had their laptops stolen in a cafe last month, one was also broken en route to a business conference. You have ten new company cell phones arriving today. Next week,  printers are getting switched out with new models from the leasing company, and the month after that, 20 laptops. If your struggling to keep track already, you certainly need an asset/resource management software solution.

There’s no single source of truth across the organization

Assets often get tracked by multiple different people in multiple different places. No single person often owns it, and no single system is used to collect and centralise the information. If you feel that this may be the case, you need an asset/resource management system.

If any of the above sounds familiar to you, then you need to consider implementing an Asset Management System. Take a look at our Asset/Resource Management solution here and reach out to us for a free trial.