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The second you drive your new car off the forecourt it starts to depreciate, well actually it starts to haemorrhage cash like a sawn off arm. Each year when you get you look around for the best deal for your car insurance you always have to quote how much it’s actually worth. If you claim it’s worth more than it actually is you’re going to be paying much more to keep it insured each month and if you say it’s worth less than it actually is you’re not going to get enough cash for it if you do have to make a claim. This is just your car and it’s enough of a headache, now think about doing this for every item in your office.

An obvious solution to take care of this for you is depreciation software which does everything for you from gathering all the right info and giving it to you in an easy to understand format. Most businesses are currently doing this by hand and simply updating spread sheets, this can be a waste of man hours and leave the data open to human error. Staying on top of your fixed assets may be a laborious task but it’s something that still needs to be done and doing it by hand is just adding to the headache. Spread sheets often don’t allow you to try the smaller details or leave notes which are automatic with software. Trying to complete audits can be tricky enough without having to chase down data, confirm information and enter everything by hand all of which could have been done automatically if you had asset tracking software.

Any business needs to make sure the business value is always up to date and Tax calculations are always accurate which is why tracking depreciation is so essential. Ideally all your depreciation should always be stated on your profit and loss statement as part of your balance sheet.

Tags: asset tracking, Business, finance, software
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Running inventory management can be tedious at the best of times but it’s an essential element of running a business. If you’ve got stock or any fixed assets you need to know where they are and how they’re performing at all times. Doing this by hand can feel like a tremendous waste of time and can also lead to human error making the data inaccurate.

By investing in asset tracking software you know that the data you get is going to be a lot more accurate and easier to come by too. Barcode software for example can ensure all your data is stored, processed and reported accurately and in real time. Every asset you own is given a bar code which helps you track it through it’s whole life cycle telling you where it is at all times. If anyone has checked out any of your assets you can see at a glance who has it and where it is. Traditionally when doing an inventory, if an item isn’t where it’s meant to be it’s will be recorded as lost as it can be too time consuming to actually fine it, this can cost your business money. Another problem you’ve got to contend with is fixed asset depreciation. With this software you can track the lifecycle of your products and you have a clear indication of whether or not a particular fixed asset really needs replacing.

This is often why it’s so easy to justify an investment in this software. You’ve suddenly freed up your staffs time so they can be doing something more productive than counting inventory. A quick scan uploads all the data you need so it’s there waiting for you. On top of this saving you’ve also got the potential to get much more out of your assets lifecycle too. After just one click glance you can see whether your assets really do need to be replaced or whether it’s just a faulty model or careless member of staff.

Tags: asset tracking, Business, inventory, productivity
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It’s vital that businesses these days keep a thorough eye on all their finances. Most business managers will always be aware of how much revenue their department has generated this month. They’ll also be on top of how much money they’ve cost the business through factors like man hours and business expenses. However, when it comes to giving an exact idea of what all their fixed assets are worth or how much they’re costing the business they’ll probably be stumped. You’re going to find you’re losing money if you’re only ever doing an inventory when it’s absolutely essential. In order to make good business decision you need to be sure of where all your assets are all the time.

By investing in barcode software you know all your fixed assets are always going to be up to date. This is a really cheap and easy way for you to track all your assets with one simple click. You’re increasing your productivity and reducing operational costs. This software works by scanning a single bar code placed on any fixed assets. All it will take you now is one button to click and you’ve got all your merchandise and fixed assets right in front of you and your inventory management is done.

The asset tracking software is then able to collect all your data as well as being able to process, transmit and record and manage your data too. You no longer have to spend valuable man hours entering this information by hand which mean the chance of human error has also been dramatically reduced. Because the software is always updating the data you don’t having to worry about reporting on data from your last inventory either. You can now see at a glance who has checked which assets out and who is currently responsible for which assets. Because this is all done electronically you’ve got the peace of mind that the information that’s being reported is in real time and therefore more accurate than a traditional spread sheet.

Tags: asset tracking, fixed assets, inventory management
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No matter what industry you operate in you need to be sure all your assets are being properly tracked. Of course the most obvious example of this is in a retail environment. You can’t run a shop efficiently if you don’t know what exactly you’re got in stock. If you don’t know what you’ve already got you can’t make an accurate decision about what you need to order. Every business needs to be aware of it’s fixed assets not just the retail industry. Anything that has cost your business money needs to be accounted for so you should always know where it is and how it’s performing.

Asset tracking is essential for example in an office environment. For example you’ll want to get your moneys worth out of a brand new fleet of mobile phones if you’ve just upgraded to the latest model. You need to track them in case they suddenly start going missing or if they start spending a lot of time in the repair shop. With inventory software you’ll be able to see straight away if you have a careless member of staff who is solely responsible for all the missing ones. You might want to look at investing in another model if it turns out there’s a common problem across several of the phone.

In most cases you’ll be able to find software that’s designed especially for your industry. If you’re in the medical industry you might want to consider something like medical equipment maintenance. Clinics and hospitals have a lot of medical equipment that needs to be tracked, you might also need to know at a glance what’s on loan and what’s due for maintenance soon. Container tracking software is another common one for those in the freight industry or even if you just have copious amounts of cargo. In most cases you’ll notice that your insurance premiums are reduced if you can prove you’re using asset tracking software too.

Tags: asset tracking, Business, inventory, productivity
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Inventory management is not the complex subject many people believe it to be. It’s actually very simple and essential for any businesses that are serious about their finances. It is simply the process whereby you’re managing your inventory which is essentially your stock. Whether you’ve got a warehouse full of nuts and bolts or you’ve got a clothes shop store room full of shoes and handbags it all needs to be tracked. The reason that inventory software is so important as you need to make sure you get the balance just right. Having too little stock can be just as damaging as having too much stock as well. Any stock that’s just sat in your stock room is costing your business money especially if you’ve already had to pay for it. Running out of stock is also bad inventory management as is going to end up costing you customers.

Asset tracking is a similar process but it applies to all the fixed assets in your business. This is anything that has cost your business money but isn’t actually making the company any money. This included everything from the computers at your desk to the office photocopier to the pot plant in reception. Your staff need computers to work on and although they help the staff make the business money they can’t make money directly themselves. Asset tracking software keeps a track of how many computers you have their lifecycle and when they’re scheduled for regular maintenance. This is productive as it allows any business to see if any of their assets are costing them too much money.

When it comes to sorting your insurance you might want to look into fixed asset depreciation software as well. This can help lower premiums as it gives an accurate and up to date explanation of the value of all your assets. If you have the right depreciation tracking software you’ll be able to ensure you’re quoting the correct value for all of your assets.

Tags: asset tracking, fixed assets, inventory management
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Asset tracking ensures that any item of value in your organisation is monitored and tracked. This can be anything that you’ve invested money in but that you don’t actually see a monetary return from. For example things like your computers, fax machines, office furniture or company vehicles. These things have traditionally been tracked using a spread sheet. If you’re relying on spread sheets you can expose your data to human error and as this technology becomes more advances, asset tracking software is becoming more and more adopted.

Asset tracking software can prove very profitable for most businesses. The time you can save from this software is often one of the most common for many businesses. Adding by hand all your fixed assets in a spread sheet can take a very long time. The software simply needs the original details set up then the longevity of the asset is tracked by the software. This means the chance of human error is also greatly reduced. When it comes to keeping a track of the depreciation and the warranties this can be very hard to do by hand. Asset management software will also work as depreciation software too which ensures you meet any audit requirements. This software can help ensure you’re complying with any industry regulations you must adhere to. You also have to ensure when you’re valuing your assets they’re not over or undervalued Getting Your Head Around Asset Tracking. This can be a hard calculation to make when you’re going it by hand. In many cases, insurance providers will actually be able to offer lower premiums if you have asset tracking software in place.

As with any new software investment you need to make sure you get user buy in from all your staff otherwise it’s not going to work. Every time a new asset is purchased or retired it must be entered into the software. At the same time if something is moved from its regualr home again the software needs to be updated.

Tags: asset tracking, Business, inventory, productivity
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Whether you’re a part of the admin pool or a top executive business productivity is something we can all struggle with. We can sit down at the start of the week and plan our time meticulously. Unfortunately in reality we very rarely get a chance to stick to that plan. most of us have given up the the monday morning coffee break and are just happy to get what work we can done. Now you need to find a way to get that schedule back on track?

Take a but of time to look at your routine tasks and see if anything can be automated. For every task there is a technology which can help you. One obvious example that many business often overlook is asset tracking software. This software is great for time management as it means that no one person has to spend time updating lots of differetn spread sheets. The beauty of using software to manage your fixed assets means you don’t have to account for human error either. It also means when it comes to auditing everything is done automatically for you saving you countless hours. Like the depreciation software there are plenty of other simple bits of software which when utilised properly can make your can much more efficient.

Cloud collaboration is also great for using things like your calendar when it comes to planning your work. Any one with permission can access a document stored on the cloud from anywhere. Things like Google docs is a great example here and it’s free. By having your work schedule here you can invite all your colleagues to share it. This means they can see at a glance just how easy or difficult it is for your to shuffle your schedule about to accommodate them. This won’t stop every Tom, Dick and CEO demanding something or another is completed yesterday but it should go a long way towards helping.

Tags: asset tracking, efficiency, time management
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Although giving a commitment to “protect the NHS”, the Lib-Tory coalition government still aims to make cost savings across the health service.  The recently published Health White Paper paves the way for massive job losses through the abolition of Primary Care Trusts.The Royal College of Nursing warned that almost 27,000 health jobs faced the axe, describing the government’s pledge to protect the NHS as an “urban myth.”  The RCN added that waiting lists for operations will rise as job losses mount and the public should be “really concerned” about the impact of the cuts.

Against this background it’s even more imperative that NHS Estates Departments operate within even tighter budgetary constraints while at the same time increasing staff efficiency and reducing departmental costs. Asset tracking will therefore assume a much higher profile in helping manage and control costs in order to maintain the fabric of the hospital while allowing as much money as possible to be diverted into front line services and retaining staffing levels.Using a inventory software can reduce the need to spend money on un-needed new equipment by identifying and utilising idle plant or medical machinery. Expensive lease termination penalties can be avoided by ensuring the equipment is returned or the lease renewed on time.

Equally, it will be increasingly important to manage MRI scanners for example by keeping an even tighter rein on medical equipment maintenance to ensure maximum up time for these costly pieces of technology.   Medical equipment management software can assist here by rationalising planned and breakdown maintenance schedules to ensure down time is minimised.A few packages allow resource scheduling and job prioritisation using visual calendars that are accessible from the ward level.Some packages can even be fully integrated with stock control and order requisitioning to ensure there is no break in what should be a smoothly operating chain so these high capital-high tech resources are available when they are needed.

Tags: asset tracking, medical equipment maintenance, NHS job cuts
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Most companies are prepared to face the fact that, although taking a physical inventory of assets is a major effort, it’s essential to ensure that the books reflect the real assets.  When the pain is over, you have the satisfaction of knowing that you have a sound and accurate system in place.Getting such a comprehensive and accurate asset inventory in place can be expensive and many companies simply look at the initial costs associated with a fixed asset inventory.

Managers can always find a reason to avoid expenditure on something that they perceive as being of little immediate or practical value to the company’s bottom line.What they fail to appreciate is precisely those bottom line benefits and cost savings that accrue from use of the latest asset management software. Rather than focusing on the cost of the solution, they should consider the cash flow benefits that result from not paying unnecessary taxes and insurance premiums as well as many other financial benefits.What could be a real return on investment often gets overlooked when looking only at the top line costs of inventory management software packages.

An adequate solution  that facilitates an accurate idea of numbers for fixed asset depreciation can pay for itself remarkably quickly.  Uncovering unrecorded retirements can result in an immediate write off, reducing income taxes, property taxes, and insurance premiums.Armed with the information from a fixed asset audit you can address the concern that the firm may be over or underinsured by accurately matching required insurance coverage and premiums with actual assets.  Accurate fixed asset accounting can reduce the need to spend money on additional equipment by reassigning and utilising idle equipment instead of having to purchase brand new plant or machinery. Lease termination penalties can also be avoided by simplifying the process and ensuring the equipment is returned promptly when the lease term expires.

Tags: asset tracking, asset tracking software, depreciation of fixed assets, fixed asset accounting
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It’s not that you’re board really; you do have plenty to do. However rather than get on with the monthly sales figures your Googling sneezing pandas. Checking you Facebook account at lunch is one thing but spending all afternoon following your favourite celeb on Twitter is probably going to damage your job. In fact if you’re not careful too much procrastination will lead to you needing a new job.

If you can try and identify the core reason why you procrastinate so much. You’ve already decided you’re bored so next you need to know whether you actually have no work to do or maybe you just don’t want to do it. If you’re honest with yourself it’s because you just don’t want to do the work. Now it’s a case of examining why you don’t want to do the work. Maybe you don’t want to do your work because you don’t understand how to do it. If you think you can’t even do the job you’ve been given you need to raise this with your line manager. Prehaps some of your day to day jobs can be automated. An example of this could be if you’re responsible for checking out the company cars or laptops, you could automate this with software. Inventory Management software will track all your assets for you. If you are going to find tools and technology to assist with your job make sure they’re as thorough as possible. The great thing about this asset tracking software is that it will track not only the assets themselves but also all their finances and lifecycle. This means the depreciation of fixed assets will be tracked too. Make sure you don’t get too carried away with this. If you find technology to take care of too much of your job you might find yourself looking for a new one. If done correctly you’ll no longer feel the need to procrastinate at work as you’ll have a much more challanging and diverse job.

Tags: asset tracking, efficiency, procrastination, time management
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