5 Ways Equipment Tracking Software Can Improve Business Operations

Businesses deal with thousands of different kinds of equipment on a daily basis. During such operations, equipment is frequently moved from warehouse to client location, is in use for continuous long hours, and then returned for upkeep until the next order.  As a business owner, it becomes challenging to keep track of the number of items moved out each month or even each day. Manual tracking then becomes unreliable, prone to errors, and results in poor equipment performance.

This is why equipment tracking software can improve business operations by adopting RFIDs or barcode tags for better tracking, preserving records for audits, and maintaining equipment in top shape. Businesses can provide excellent customer service and increase profits as a result of using the software. Here are a few advantages of an automated equipment tracking solution for your business:

Eliminate manual tracking 

Equipment tracking software replaces the manual tracking methods and reduces the number of employees required to operate the software. This also reduces the risk of human errors associated with manual tracking.

Improved processes 

The ability of the software to accurately track, record, and offer real-time updates on critical equipment data helps businesses to streamline processes and operate efficiently.

Excellent customer service 

When delivered to clients, well-maintained equipment offers faultless and seamless performance. This can lead to customer satisfaction and build stronger customer relationships.

Here are some of the ways equipment tracking software can streamline business processes:

1. Verification of equipment custody 

There is a significant chance that equipment will be lost, forgotten, or stolen if the custody chain from check out to return is not followed or recorded.

Equipment tracking software can keep track of what equipment was checked in and out, when, and by whom. The business owners can also control transfer access to only authorized personnel. This helps in verifying the chain of custody, and any delays in equipment return may be confirmed using the system’s transfer logs.

Businesses deal with high-tech and expensive equipment that is constantly in transfer from warehouses to job sites and locations. Every transfer detail cannot be manually tracked by the owners and can be prone to human errors.

The software not only updates but also sends real-time email updates for check-in and check-out of the equipment. The email covers all important equipment-related details and the owners can stay updated on equipment movement anytime and anywhere.

2. Choose efficient tracking methods

There are many different ways to track your equipment, depending on the size of the business and the type of equipment. Here are some of the tracking methods:

  • RFID Tagging: It is advanced equipment tracking consisting of a tag, an antenna, and a computer. The tags are detectable from several feet and scan multiple items together at one time. These are used by businesses dealing with mobile assets. Tags are placed on the assets’ surfaces and are simply scanned when they move in or out.
  • Barcode tagging: An optical scanner that can read printed barcodes and deliver the information to the software. Due to the fact that barcode scanners can only read one item at a time, unlike RFID tags, these tags are typically used by small businesses with few assets and employees.

It is important for businesses to use efficient equipment tracking methods, either barcodes or RFID. This can automate their process in terms of real-time updates of inventory such as availability, check out, or under maintenance.

3. Automate maintenance and ensure equipment safety

Equipment that is well maintained has a longer useful life, performs better in operation, and has fewer risks of breaking down.

As soon as your equipment is checked-in, you can set quick service check alerts in the software. If maintenance needs are identified during the post-inspection process, then the equipment can be directly sent into maintenance to avoid unforeseen equipment downtime.

Business owners also need to ensure that their equipment is handled with care to avoid unexpected injuries and accidents. This is why equipment tracking software provides an option to upload necessary safety and compliance guidelines for each piece of equipment. The workers can read the documents before using or maintaining the equipment.

Equipment tracking helps you maintain equipment in top shape and prevent any costly damages.

4. Streamline the auditing process 

Auditing is a process of verification of your business’s fixed assets. For instance, the evaluation of assets’ fundamental details, such as the date of purchase, the model and manufacturer, etc. Similarly, accurate depreciation calculations, appropriate maintenance, and tagging are thoroughly checked to ensure that companies are operating according to reporting standards.

The equipment tracking software streamlines the auditing process for your business. The auditing process requires past details of your assets and the software keeps a history of all your equipment which makes it easier to perform audits. Additionally, the software keeps track of depreciation so you can monitor how long your equipment will operate. Asset lifecycle management audits may be carried out easily with thorough details on the equipment and its depreciation.

5. Run reports on equipment utilization 

Businesses typically deal with thousands of pieces of equipment, and it can be challenging to keep track of how often each piece is used, how well it’s working, or when it needs to be replaced.

Equipment tracking software allows you to create reports and analyze trends in the form of easy-to-read graphs and tables. A report on equipment utilization can help your business decide whether to keep using the equipment or upgrade to better equipment. Similarly, businesses can customize reports per their needs such as construction businesses can run reports on how much time equipment can take to complete a project.

Author Bio: 

Nisma Shakil

Is currently a Content Marketer at EZOfficeInventory, the leading asset tracking software company, where she particularly enjoys writing about technological advancements, and trends and actively contributes to similar guest posting opportunities. She also enjoys capturing scenic beauty, sunset at beaches, and movie times with family.

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