In search for economic efficiency, companies actually expect to hire at a modest rate this year. Coupled with the fact that new businesses continue to emerge, a significant amount of U.S. entities will likely relocate to new offices and factories. When companies move operations and workplaces to new locations, the task to keep track of property will be daunting yet critical — particularly as they seek to make the most of their resources to maintain efficient operations.
Equipment managers and other decision makers have the responsibility of ensuring each fixed asset is properly packed, stored, shipped, unpacked, and put back to use. Items owned by a company range from large operational machines and vehicles to computer keyboards, and phone cords. Because these varied items may be fragile and organizations likely own multiples of certain fixed assets, undergoing a move could lead to asset misplacement, damage, or even theft when they do not effectively manage their property.
Stay on track with software
Fixed asset management solutions can help companies ensure items are tracked correctly and that property value is maintained throughout a move. Software provides companies with a reliable system to determine the relationships between items, which can speed up the moving process by making it more efficient. In addition, a fixed asset softaware solution can help companies avoid leaving items behind, losing them during shipment, or forgetting them in storage indeterminately.
Asset inventory tracking software manages information related to make, model, parent relationship, book value, and purchase information history on every single fixed asset. This can help companies and movers better understand the type of protective packaging or temperature limits necessary to keep each item safe during transit, which will keep property from depreciating unnecessarily.
If companies decide to implement a barcode system as well, they can access information quickly by scanning an item. This eliminates the amount of time movers and employees need to spend packing, unpacking, and setting up fixed assets for work.
When companies track information manually, they risk reporting inaccuracies in accounting sheets, which can lead them to overspend on taxes and insurance. In addition, spreadsheets – even encrypted ones – are at risk of being hacked, which can lead to the spread of confidential information and theft.
If companies use a fixed asset software solution, however, data can be kept in a centralized and secure location. In addition to making information more comprehensible, the technology keeps information safe. Keeping data secure is extremely important when companies are moving.