Comprehensive Guide to Asset Management: How to Keep Track of Company Equipment and Devices

Why is asset tracking important?

Every company, whether small or large, has a range of equipment, tools, and supplies that are essential for its operation. However, without clear tracking, it is easy to lose oversight. This can lead to:

• Financial losses – missing or unused equipment.

• Inefficiency – difficult planning of maintenance or replacement of equipment.

• Non-compliance with legal obligations – certain types of equipment require regular inspections or checks.

Proper tracking helps eliminate these problems and offers a range of other benefits, such as simplifying audits, more accurate accounting, and easier sharing of assets between departments.

How to effectively track assets?

There are several key steps that can help you implement or improve asset tracking.

1. Identify all company assets

The first step is to create a complete list of all equipment, tools, and supplies. This includes:

• IT equipment (computers, printers, servers),

• office furniture,

• vehicles,

• production machines,

• software and licenses.

Each asset should be accurately described, including type, model, serial number, and other identification details.

2. Implement asset categorization

Dividing assets into categories will make it easier for you to navigate. For example:

• Tangible assets: machines, furniture, equipment.

• Intangible assets: software, licenses.

• Short-term assets: small equipment, tools.

3. Use labels and markings

Each item should be clearly marked, such as with a barcode or QR code. This will facilitate inventory and locating specific equipment.

4. Regularly update the records

Asset tracking is not a one-time process. Every change – whether it’s the purchase of new equipment, its relocation, or disposal – should be recorded immediately.

5. Utilize modern asset management tools

Managing assets manually or in spreadsheets can be impractical and time-consuming. Therefore, we recommend using specialized software that allows:

• tracking all assets in one place,

• monitoring the lifecycle of equipment,

• planning maintenance and inspections,

• generating reports and statistics.

INSIO: Simple asset management with our CAFM solution

Our facility management (CAFM) solution allows you to keep everything under control. With an intuitive interface and a wide range of features, managing assets has never been easier.

The INSIO system offers:

• Comprehensive asset tracking: Monitor where your equipment is located, who is using it, and its condition.

• Process automation: Schedule inspections, maintenance, or replacements of equipment and let the system automatically notify you.

• Easy data sharing: Accessible from anywhere – from a computer or mobile.

• Clear reports: Keep a detailed overview of asset costs and usage.

Conclusion: Investing in clear records pays off

Asset tracking is not just an administrative task – it is the foundation of effective management of a company. With an overview of your equipment, you can optimize costs, improve resource utilization, and eliminate risks associated with unplanned outages.

With the INSIO CAFM system, you not only get a tool for asset management but a comprehensive solution that will elevate your business to the next level.

Want to learn more? Contact us and gain oversight of your company’s assets today!