Fixed asset management solutions help small and medium size businesses (SMBs) with tracking property effectively. Software provides them with the ability to stay on top of financial reports, cut unnecessary costs and maximize efficiency in every aspect of business, from operations to administrative work.
Incorporating a barcode scanning system into inventory tracking solutions and processes can help businesses save even more time and access property information with just the click of a mouse.
Sportsvision, which creates visual enhancements like the NFL’s “yellow line” in broadcasted sports and entertainment events, began using a barcode scanning system to track its items several years ago, according to Biztech Magazine.
Before adopting the system, Sportsvision would ship equipment to networks, and didn’t know if it would be returned to them before the end of the season.
“Before barcoding, we had no idea whether an existing asset was available to move to another event,” Tim Driedger, the company’s information systems engineer, told the magazine. “Inevitably, this led to duplicate equipment purchases.”
Shortly after investing in barcode scanning solutions, Sportsvision realized the benefits of relying on a system that is accurate and time-saving.
“Now, we can locate any item, anytime,” Driedger said. “Plus, we know which items can be most efficiently transported between given locations.”
Sportsvision has also been able to eliminate duplicate purchases, which has lowered its capital costs. The company used to only track items that were valued at $1,000 or more. Now they can place a barcode on any item and effectively manage information pertaining to its make, model, purchase information, depreciation history and book value.
Barcode scanning can be incorporated easily into fixed asset management strategies that rely on inventory accounting software, which keeps property data in a centralized, error-proof, secure location. Information scanned on barcodes can be updated automatically into data records, which helps businesses maintain accuracy in their financial reports. Get started today by reading this inventory guide.