Are you tracking your assets’ every move?

Oct 04 2017

5 key reasons why you should...

For many organisations, allocating the time and resource to recording/updating information and routinely checking and locating critical items is not a top priority, which as a result, could be seriously impeding the operational performance of your business.

Whilst other business pressures take precedence, it is all too easy to place the mundane task of asset tracking on the back burner, with little thought given to consequences such as a high level of asset duplication, short lifespan of key items and wastage through theft or damage. By implementing an effective asset management process, your organisation would not only realise immediate short term improvements but demonstrate longer term bottom line benefits.

Real Asset Management’s specialist asset management and tracking software is continually being implemented by firms which deal with a large number of mobile assets across multiple locations, providing crucial information such as where they are located, when they move, where they move and their current condition. Being able to ensure that the right asset is at the right place at the right time is vital to enable improved asset retention, better asset utilisation and enhanced customer service.

Still need convincing? RAM has put together 5 key reasons for getting your asset tracking processes in order:

  • Monitor asset movement
    An asset tracking solution will monitor physical assets as they move throughout the organisation or are transferred between departments. Having full visibility and an accurate picture of the asset portfolio at all times will eliminate the unnecessary duplication of assets and improve resource management.
  • Reduce asset loss or theft
    Devices, equipment, pallets or other business critical assets that frequently move throughout an organisation may not always be accurately documented. By keeping a full log of which employee, customer or supplier was last issued an asset and at which location, will enable organisations to keep track of asset movements easily, providing complete traceability of all item whereabouts, thus helping to reduce unexpected losses.
  • Comply with regulatory requirements
    With increasing pressure for organisations to comply with health and safety requirements, it is vital to record and report on data relating to such tasks as equipment testing, calibration, inspections and maintenance for each asset. A specialist asset tracking solution will not only capture this information but also provide the facility to swiftly and comprehensively report on it for smarter management decision making.
  • Reduce insurance premiums
    When asset registers have a full audit trail and can be easily verified, it’s often the case that insurance premiums are more accurate and easier to claim against. This can save your organisation vast sums of money and valuable administration time.
  • Improve customer service
    The increased efficiency and agility of business operations realised through the use of an asset tracking solution, in turn, ensures a higher level of customer service and satisfaction. By ensuring that your assets are where they need to be for the next utilisation will improve the service you deliver to your customers, as will providing and maintaining better working assets.

If you would like to learn more about how Real Asset Management’s specialist asset tracking software could transform your business operations, please contact us today.

Tel: +61 (02) 8915 5000