What small businesses need to know about asset management
Just because a business is considered 'small' doesn't mean it's easy to run
Managing finances, the demands of an ever-evolving business landscape, that constant fear of failure. Running a small business is definitely exciting, but the numerous challenges presented on an almost daily basis can make it incredibly overwhelming, too. One of the biggest hurdles business owners face is keeping track of their assets. Controlling assets is a critical part of any business, but for smaller ones, organizing them in an effective manner could literally be the difference between success and failure. Without a solid plan in place, tracking, monitoring and managing these valuable resources can quickly become an unwieldy and costly hindrance. Asset management systems take all that hassle away, ensuring businesses remain dynamic and profitable.
Where do you start with asset management for small businesses?
Whether you're a small business just starting out, or one that's been around for a while, choosing the right asset management solutions could be crucial in helping your organization unlock its true potential. Not only are they key to driving efficiency within the workplace, they offer a vital layer of security when it comes to protecting high-value assets. Fast evolving technical advancements also means that even if you think you have all bases covered, your asset management approach may not actually be operating optimally. So, where to start?
Three questions you can ask yourself straightaway are: How many assets do I have? Where are they located? Who is using them? Providing detailed answers should give you a clear overview of how the assets within your business are currently being utilized. This information will allow you to drill down into any issues or inefficiencies that could potentially be holding your business back. From a security protocol standpoint, KEYper recommends carrying out regular audits to ensure vulnerabilities are identified, and remedied, as soon as possible.
8 core aspects of asset management that small businesses cannot ignore
- Asset tracking
Tracking equipment, vehicles, and inventory in real-time is a surefire way to improve efficiency within a business while increasing security. KEYper Systems' Electronic Cabinets are a fantastic example of this. They retain a 24/7 audit trail, meaning you know when a key is taken, the name of the member of staff who has taken it, and whether or not the key has been returned. - Protection
Like we've just said, it's a lot easier to protect our high-value assets if we know where they are. A strong asset management system does more than just provide location/stock updates though, it can keep your asset safe when in-situ. KEYper Systems' Electronic Key Cabinets are made from the toughest 16-gauge steel, ensuring round-the-clock protection. - Cost efficiency
Time is money, and losing track of an asset, even for just a couple of hours, can be costly business. And not just financially. If misplaced assets are starting to become a bit of a bad habit, your reputation with customers could soon suffer. - Scheduled maintenance
Effective asset life cycle management ensures you get the best out of your assets for longer. Being able to put together an efficient maintenance schedule in order to prolong an asset’s lifespan is one the biggest benefits of an asset management system. Carrying out maintenance at the right time helps drive optimal performance, while significantly lowering costs. - A better strategy
For every business, large or small, being able to plan effectively is crucial for growth. Asset management systems can provide businesses with a roadmap to a more profitable future, providing valuable insights into current processes, as well as giving managers detailed information about each asset in the business. - Boost productivity
Asset management systems can be a true game-changer when it comes to boosting productivity for small businesses. Once employees are fully trained up, it won't be long until you’re noticing an increase in efficiency. Take tedious inventory counts as one example. These will become a thing of the past, with constant asset tracking helping your team to generate instantaneous audit reports showing you what assets you’ve got, where they are, and how many are on hand. - Cloud access
The majority of asset management systems now offer cloud-based capabilities, helping send workplace efficiency sky high. For on-the-go firms where employees and assets are constantly on the move, an asset directory that can be accessed by anyone within the organization, at any time, and from any location is a must. - Stress management
Good asset management equals good stress management. There are enough challenges to deal with when running a small business without the added pressure of worrying about high-valuable assets. Robust and reliable asset management systems remove this stress, leaving you to concentrate on growing a successful business.
How to choose asset management solutions specific to your small business
Time is many a small business owner's most precious asset. That's why, for some, spending hours or even days working out which asset management systems would be best suited to their business can seem like a task that should sit way down a list of priorities. And yes, in the short term, it may seem like an inconvenience you could do without; but in the long run, the benefits you, your staff, and your business will inevitably reap, will make those hours researching feel like time well spent.
At KEYper, we specialize in key management systems. Key management involves the tracking, and protection, of keys within an organization so the chances of them being misplaced, lost or stolen are greatly reduced. It’s an area no small business can afford to overlook. Keys provide access to sensitive locations as well as to valuable assets, so it is imperative we know where they are and who has been using them. From mechanical and electronic key cabinets, to after hours key management, we make it our business to ensure your business is safe, secure and operating as efficiently as possible.
Does KEYper work with small businesses?
Assets mean just as much to small businesses as they do large organizations. And helping smaller firms monitor, track and protect these assets means just as much to us. Speak to our team today, and we'll happily answer any questions you may have on asset control or key management.