Asset Tracking Is A Management Information Tool

Asset tracking is often considered to be an imposition on US businesses purely as a consequence of SARBOX, but asset tracking is more than an accountancy compliance issue.It’s a vital part of informed and sound management.Assets must be managed financially and physically and to do that effectively you require knowledge of just where all your assets are. Many companies rely on a conventional spreadsheet approach to try to keep track of their fixed assets in an attempt to ensure the company is compliant with national and international regulations.

That’s vitally important with IT tracking fixed assets.IT equipment the heart of any business operation today and often changes during its operational lifetime.Components can be switched, replaced or upgraded. Software is frequently installed, uninstalled or upgraded. Many of these changes are internal and therefore usually “invisible”.The value and highly portable nature of laptops, notebooks, peripheral devices and other items like the Blackberry may also explain their tendency to “disappear” from real life.

Central to any fixed asset tracking software system should be a powerful, centralised database which provides controlled access for all parties that require it.This system should also have the capacity to include information about those invisible software assets on your IT network how many programs and whether they are licenced or not?Ideally, a single audit should have the capacity to cover multiple locations and thousands of assets. It should also be fully compatible with inventory management systems.

This is particularly important with many asset tracking software packages designed to control and manage mobile and fixed assets that incorporate bar coding and RFID asset tracking (Radio Frequency Identification) technologies. Hand-held scanning devices can work with both accounting and tracking modules to provide an accurate and consistently current database.This will enable users to comply confidently with auditor requirements relating to accurately accounting for and tracking their asset base.Once the audit data has been uploaded into the asset or inventory register, managers can get reports detailing total assets and suggested actions (dispose, relocate, upgrade etc) for each of the assets.

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