5 core benefits of electronic asset tracking systems

Here's why your business needs to be aware of electronic asset tracking systems

We all know someone who could lose their glasses on their head. Or the person who puts their key down in a “safe place” for the “key fairies” to mysteriously transport it to Narnia. For many businesses and organizations, losing assets is more than a headache: it could incur financial loss or even compromise public safety. Thankfully, electronic asset tracking systems use intelligent technology like our KEYper Go software to capture and broadcast vital information about the location and status of a physical item. So, what are the benefits of asset tracking?

By allowing you to reserve items, manage their ownership, hold people more accountable, and boost security, asset tracking creates smoother workflows and better connects employees. And let’s not forget that it helps prevent theft and loss, which is sure to make work life less stressful for all. The process can also help business owners better understand the whole production chain. In other words, it is the ultimate tool in efficiency. This blog will look at must-have electronic asset tracking systems for businesses and what makes them so awesome:

The 5 core benefits of electronic asset tracking systems

1. Manage ownership
   Administrators can manage asset reservations, identify who has an item checked out, contact them at the press of a button, and even transfer ownership in the field without returning it to the cabinet. These processes are particularly beneficial to those in automotive sales when multiple customers want to test-drive the same car or law enforcement agencies who need quick access to specific vehicles in emergencies.
2. Create asset reservations
   Every salesperson knows that if you leave a customer waiting too long, they will soon move on to the next seller. Asset tracking can help guarantee smoother car sales and university lodging by allowing employees to quickly reserve keys for test drives or house viewings on a specific date and time. Universities, research facilities, the police, and government agencies can also benefit from this tool by reserving assets required for training days.
3. More accountability
   RealTime analytics are empowering. With our KEYper GO software, police forces can help fight corruption from within by checking asset status, transaction history and reservation requests. This means any officer who has misused a department’s weapons or vehicles can be held accountable. The same is true for any salesperson who has lost or misplaced car keys or a dealer plate or even aided a criminal in theft. Plus, employees are more likely to use an item with care when they know it is being tracked.
4. Security boost
   For some industries, such as police departments and FBI offices, losing assets like weapons, vehicles, and seized illegal substances can have devastating consequences and result in people being seriously harmed or even killed. Law enforcement departments must ensure these items do not fall into the wrong hands, whether a criminal or an untrained officer. For added security, our Elite Series Key System photographs and time/date stamps every transaction for identity verification
5. Humans err.
   It is a fact of life. But for businesses, it can be an expensive fact. Traditional asset management using manual methods like pen and paper or a spreadsheet is open to more human error and the misplacement of equipment, which can take a lot of wasted manpower to correct and money to replace. But systems using smart technology can help eradicate mistakes. For car dealerships, this waste can result in a loss of sales and a huge dent in profits, especially as thieves are keen to exploit the tendency for humans to make mistakes.

What are must-have electronic asset tracking systems that businesses of all sizes need to be aware of?

Gone are the days of trying to work out what a scribbled note that looks more like Ancient Egyptian hieroglyphs actually says when recording the movement of items using the old pen and paper. And so is the need to pull out your ruler to read a spreadsheet because the lines keep blurring into each other. What a headache!

Fortunately, many modern-day asset tracking systems have moved to specialist software to help create smoother work processes by allowing employees to access and update item information easily and quickly. Whatever your business size, intelligent software is a must-have addition to the electronic safes and cabinets storing your most valuable items. It not only helps to prevent errors but puts total control over your assets in the palm of your hand.

KEYper GO is a cloud-based, cross-platform application that brings all the powerful tools needed by users and administrators of a system straight to their smartphone or tablet. Administrators can receive instant notifications on important system activity, check current asset status, see transaction history, manage users and access, and create key reservations. Users can use the camera on their mobile device or the handheld external Bluetooth scanner to quickly locate and identify labeled or tagged assets. They can check its availability and request transfer of ownership from the click of a button, no matter where they are in the world, without ever returning to the cabinet.

Take your business’ security to the next level 

Electronic asset tracking systems are game-changers. You will never again worry about those pesky gnomes coming alive at night to prank your company by moving and hiding your assets to wreak havoc. Let the antiques of pen and paper fade into the sands of time, and the pesky spreadsheet become a thing of the past as your stress levels ease with an upgrade to an electric asset tracking system with state-of-the-art software. From full audit trails to reservation requests, the benefits can take your business’ security and efficiency to the next level.