In a world where the success of a company is often judged by the efficiency of its operations, it’s important for companies to make sure that their assets are being tracked and monitored. In this post from our team at Adaptive Workplace Solutions, we will take a look at some tips on how to track assets effectively. Learn more below and contact us today to try a demo of our integrated workplace management software with asset tracking!
1. Make Sure You Have an Asset Tracking System in Place
First and foremost, you will need to make sure you have an asset tracking system in place. Without one, it’s hard to keep track of the many assets a company can own. An asset tracking system will give companies visibility into what they own and their location. Without such a system, companies often find themselves losing track of expensive equipment, office furniture, and other items they allocated a budget for.
2. Keep Assets In a Safe Place With Limited Access
It’s important to have a secure location for the assets you are tracking. Depending on the size and scope of your company, you will need to create a safe spot for any items that should not be accessed by anyone other than designated members of your organization.
3. Document Everything: Purchases, Acquisitions, and Disposals
Documenting the types of assets that a company owns and what it plans on doing with them is important. This will be helpful to keep track of who you bought the asset from, when you got it, and where it’s located.
4. Keep Records for at Least Three Years
It’s best practice to keep records of your assets for at least three years after the acquisition of the item or its disposition. You never know when you may need this information for tax purposes or for legal purposes.
For more information about asset tracking, get in touch with our team at Adaptive Workplace Solutions. We can schedule a demo for you to try our integrated facility management software to help easily and efficiently track your business’s assets. Contact us now to get started!