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9 Benefits of Asset Tracking with ERP Software

May 18, 2017
By Simon De Brito
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9 Benefits of Asset Tracking with ERP Software

Automated, centralized asset tracking through a modern ERP Software has a host of advantages over manual or piecemeal asset tracking and management. Automated asset tracking provides you with continuously updated, detailed, accurate, real-time information on every important asset in your company. This information includes data regarding an asset's precise location, status, documentation, and ownership, among many other data points. Let's look at nine reasons why companies are increasingly turning to automated tracking systems as part of a comprehensive ERP solution to modernize and improve their businesses:

1. Accuracy

Manual asset tracking suffers from a number of severe drawbacks. However, one of the most debilitating to your enterprise is the higher prevalence of errors in manually entered and tracked information. Centralized, automated tracking systems, on the other hand, deliver consistently accurate, reliable, real-time data that you can bank on when making important decisions for your business.

2. Lower administrative costs

With automated tracking, you can free your employees from the tedious task of physically searching for thousands, if not millions, of assets and logging their data manually. Once those manual tasks are automated with a complete ERP solution, you can then make better use of your employees' talents, redirecting them toward activities that have a direct impact on your core business.

Read Also: What is an ERP Software?

3. Faster tracking of missing assets

When assets go missing, this can slow down every aspect of your business, from shipping to accounting to customer service. An ERP's asset tracking system makes finding missing assets faster and more efficient. With detailed, comprehensive data on the missing asset, such as when and where the asset was last scanned, you can greatly narrow down the range of locations where you're most likely to find it.

4. More efficient asset organization

Once you know precisely where every asset is located at any given time, you will find it far easier to organize your assets into groups. You can then make full use of your ERP's asset management system to move, ship, sell or more easily track grouped assets together, saving you time and money.

5. Better monitoring and reporting

Your ERP's asset tracking system will provide you with rich reporting data on all of your important assets. You can then sort, search, view, and generate detailed reports on your assets by location, owner, status, serial number, or any number of other categories.

6. Superior ability to meet regulatory requirements

Automated tracking systems gather detailed, highly accurate data on every important asset in your company. This makes your ERP's tracking system not only helpful, but in some cases absolutely necessary, to consistently achieve regulatory compliance, while earning important certifications, from governing and regulatory bodies in your industry.

7. Top-notch client and customer service

With an automated asset tracking system, your client and customer service agents can answer direct and specific questions at a much higher level of detail and accuracy than ever before. Naturally, as client and customer satisfaction improves, so will your ratings, referrals, and sales.

8. Better accountability

Your ERP's centralized tracking system will not only tell you precisely where a given asset is located. It will also tell you who last interacted with the asset, and who is presently in charge of it. This level of real-time, granular accountability can greatly reduce the threat of fraud and theft from within.

9. Superior scaling and growth

Manual tracking simply does not scale. However, the automated asset tracking systems provided by the best ERP solutions are designed to scale seamlessly. This means that your operations can rapidly expand without any concerns over your tracking systems' capacity to handle that expansion.

Overall, tracking your assets with an inventory management software will improve productivity, increase efficiency, and enhance visibility over your entire company. More specifically, with an automated tracking system you will improve data accuracy; lower administrative costs; more easily track missing assets; achieve better asset organization; improve monitoring and reporting; more easily maintain certifications and compliance; greatly improve customer service; achieve better accountability; and more easily scale and grow your enterprise.

Next Step: Pro-Tips to Select and Implement your ERP Software.

Contact us to learn more about how an automated asset tracking solution can greatly improve your overall business and bottom line.

About Author

Simon previously supported Marketing Operations at ABIS, Inc. We are making businesses smarter by automating their processes to gain productivity, increase margins and generate more profits.


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