Where has that asset got to? It’s annoying. It’s frustrating. But most of all, when asset management goes wrong it costs time and money. You might even end up losing customers. In a complex world there are plenty of challenges involved in asset tracking. The more assets you have, the harder it is to keep track of them all. Here’s how our RedZebra Stock Module asset tracking system keeps tabs on valuable assets and inventory.
What is Asset Tracking Software
Reliable, accurate inventory tracking and inventory management are key to business success when you work to the field service model. So what is asset tracking software? How will it help you save time, save money, protect your bottom line, and maintain your good reputation? In a nutshell, it takes the strain out of field management in so many intelligent and practical ways. It reduces the risk of human error, it communicates with the relevant parts of your systems and updates them, it highlights potential problems and lets you be a whole lot more efficient in all sorts of ways.
5 Benefits of Asset Tracking Software
An effective asset tracking and management system comes with a wide variety of benefits. The best-in-breed come with added extras to help your business with essentials like invoicing, admin, customer service, sales and more. At the core of the most popular systems are five key benefits of asset tracking software, all designed to make life easier, save money, improve efficiency and boost productivity.
1. Asset locations always known
An asset is only an asset if it’s within reach. When it’s been misplaced, lost, stolen or moved, it isn’t earning money or supporting your business. There are so many benefits to knowing the whereabouts of valuable assets, which is why the ‘asset locations always known’ side of tracking software is so important. When your bottom line depends on field service, it’s essential to get organised and stay that way. A good system will also help minimise theft, keep insurance claims simple, track your employees, be more efficient and enjoy data-driven insight.
2. Improved customer service
Asset tracking contributes enormously to improved customer service. Because you don’t lose track of stock or run out without noticing you’re running low, you don’t end up disappointing your customers and prospects. It lets you fulfil orders faster. It builds trust in your brand and drives word of mouth recommendations. When every touch point delivers a great experience, your customers will come back for more.
3. Increased productivity
Increased productivity is the goal – so how do you get there? Effective, efficient asset tracking enables field service teams to be much more productive. They know where the assets they need to use, deliver, move, work on or mend are, so they don’t waste time trying to track things down. They can fulfil orders as quickly, as customers expect. People’s work isn’t duplicated. Inefficient processes tend to stand out like a sore thumb, for you to fix. Manual records are a thing of the past, which means your administrative burden is cut down.
4. Improved maintenance efficiency
When you track every aspect of an asset, you know when it’s due for maintenance. Improved maintenance efficiency is so worthwhile. When you know the MTBF, the Mean Time Between Failures, you can anticipate failure, saving money and time. MTTR tracks the Mean Time To Repair, another metric on which to base decisions around preventative maintenance. Tracking unplanned maintenance gives you a clearer picture of how good your preventative maintenance plan really is. Knowing the health of your assets at every stage is a reliable way to save money on maintenance – you might find you don’t need to do quite as much work as you’d planned. You might discover that one type of asset lasts longer and needs less maintenance than another. It all adds up to a better business and a better bottom line.
5. Lower administrative costs
Asset tracking software provides cost savings through lower administrative costs. The software itself is efficient, fast and perfectly fit-for-purpose, a million miles away from a spreadsheet that needs constant attention, updating and manual work, prone to error and probably far too simplistic. All the variables are taken into account to provide insight you’d otherwise spend years trying to mine from the raw data. Less paperwork, no joining the dots across several different systems, no time wasted trying to track assets manually. All the information you need is held securely in one place. It all saves money on administration.
How the RedZebra Stock Module Enables Asset Tracking
Thanks to a host of essential features, this is how our stock module enables asset tracking. Imagine you want to keep easy-access electronic case histories about all your equipment, or all of your stock. Asset-tagging lets you build a secure electronic record including the model, serial number, location, and the history of the item. The system lets everyone involved instantly call up the details they want. Engineers can update the data immediately after every site visit via their PDAs. Some of your clients have a variety of equipment spread over several large sites, but that’s fine – the system knows where everything is at any given time, so you don’t have to.
Why choose RedZebra?
When you want to keep track of valuable assets, RedZebra Stock Module and field service software is ideal. It’s already successfully used across a wide range of industries including security equipment installers, catering equipment, retail and EPOS, medical equipment and HVAC & refrigeration. How can we help you?