Everything You Need To Know About Office Asset Management
Last update 29 DEC 2022
Img Source - Robert Ignasiak
According to data, every year companies lose up to $50 billion due to equipment being stolen by staff. A shocking statistic reveals that approximately 75% of office workers have stolen from their workplace at least once, with a third of all thefts occurring due to a lack of supervision. To avoid these issues, experts recommend using office asset management. Introducing a modern real-time tracking system reduces the likelihood of asset theft/loss and increases the efficiency of employees.
What is an Office Asset Tracking System?
Office asset tracking software helps managers keep track of their equipment and other indoor assets. With it, business representatives can determine what property they own, where it is located, where it moves, and when it needs to be replaced/updated. Integrating an office asset management system into the infrastructure gives a 360 view of the assets and reduces the likelihood of theft.
In offices, you can control any objects and equipment, including:
- furniture, such as tables, chairs, cabinets, safes;
- desktop computers and laptops;
Office asset management software is easily customizable to match the needs of a particular company and gives a full picture of the current state of assets and other property.
Benefits of Using an Office Asset Management System for Business
Modern office asset management solutions help offices keep track of their own or leased assets. With these systems, you can determine the location of any object in real-time and prevent its removal from sight. Implementing the system provides businesses with a wide range of benefits, such as the following:
- line of sight and device control;
- improving the accuracy of inventory management;
- controlling the condition of the equipment;
- generating reports on the asset status in real-time;
- simplifying workflow;
- finding any devices within the office in a matter of seconds;
- detailed asset analytics to optimize business processes;
- improving procurement efficiency.
While implementing the office management platform requires some costs, it will prove to be cost-effective in the long run. Through this technology, businesses can reduce their spend on unexpected equipment repairs or replacements in case of theft, as well as increase equipment productivity and minimize associated overhead costs.
Technologies and equipment to implement the asset tracking system
The office asset management system operates based on special sensors (known as beacons or tags) that are installed indoors and send out radio signals at a certain cadence. These can look like stationary devices or wearable equipment (such as smartphones, trackers, bracelets, etc.) which helps compute the location of a particular object. In the process, the sensors connect to readers, which transmit data from them to the servers and provide data exchange between tags.
The system is most commonly deployed through Bluetooth® Low Energy, a wireless technology that’s meant to reduce equipment power consumption compared to traditional Bluetooth®. It provides high data transfer speed, guarantees a good ROI, and allows you to control assets with an impressive accuracy of up to 3 ft.
Navigine offers users the Navigine Tracking system, which provides several features that allow for determining location, tracking, and monitoring. After implementation, the platform receives data from readers, processes it, and sends the final product to users, which is displayed on a PC or a smartphone.
Navigine software builds office maps, displays access zones to users, all while keeping track of the monitoring history. Managers only need to take a look at the map to see where the tracked item is located and where it’s currently moving. If an asset is spotted outside of the facility, the office asset management system immediately notifies users.
Features of the asset tracking system
The office asset management system has a wide range of benefits. It provides many useful features for the infrastructure that allow you to control assets and prevent their theft.
Full control and accounting of assets within the platform
Unlike spreadsheets or paper records, the platform is capable of providing comprehensive asset tracking. With it, you can easily access a lot of information, such as:
- date of purchase;
- service life;
- date and time when each employee gets access to the object;
- dates of inspection, repair or maintenance, etc.
Office asset tracking software provides 24/7 asset control and ensures that information about its movement is always on hand. In other words, if a company needs accounting or auditing, professionals can always use history to determine the viability of the company.
Effective inventory planning by managers
With the platform, you can easily manage office inventory. If assets are constantly being tracked, this greatly simplifies planning future spend on new ones. Thanks to centralized management, you can regularly check the status of hardware or software, view inventory information, and plan your budget based on the data you receive.
With office asset management, managers can accurately determine whether and when to restock. It’s easier to identify the current value of assets, and make decisions regarding renewing or extending contracts with suppliers.
Minimizing asset loss with accurate location
Office asset management software helps prevent the loss of assets. The system provides constant monitoring, so the company can avoid improper storage, theft by employees, robbery, or vandalism from third parties.
By regularly monitoring assets, users can not only minimize material losses but also save valuable information. Office assets can include PCs, laptops, and servers, which are valuable not only as objects, but also as intellectual property. Their theft can cause serious damage, while monitoring technology can prevent data loss.
Real-time asset discovery
An important advantage of office asset tracking software is the ability to detect assets in real-time. It allows for accurate asset verification and more efficient inventory management. Previously, all property data had to be recorded manually or in spreadsheet form, and this approach often breeds inaccuracies. Nowadays, you can use automated management tools to record changes and easily find the right asset, even in a very large facility.
Real-time monitoring allows for:
- quickly identifying technical or structural issues with monitored equipment;
- maintaining the working conditions;
- controlling and minimizing security threats;
- pushing back against cyberattacks;
- ensuring data privacy;
- securely transferring data to the cloud;
- reducing data storage costs.
Quickly receiving any information about the asset
The office asset management platform makes it much easier for companies to keep track of their offices. The system instantly provides users with any necessary data, from the date of purchase to the current condition of any asset. Using the software, you can build reports and analyze data. If an asset is sold or retired, this data is automatically being logged.
Receiving push notifications when equipment is taken outside the building
The technology allows the company's management to receive instant push notifications about the movement of assets. If the monitored object appears beyond the established access zone or leaves the territory of the office building, a message is immediately sent to the user's smartphone accordingly. Thanks to this, you can quickly respond to an emergency and prevent theft.
If you want to have full control over valuable equipment within your company, Navigine provides efficient office asset tracking software. We offer our Navigine Tracking platform and assist our customers with the implementation process. For more information, please contact our representatives via the medium you prefer:
What is an office asset management system?
An office asset management system is a set of hardware and software that helps track assets in real-time. With it, you can build digital maps, control the movement of any objects and prevent equipment or furniture being taken outside the building.
Why is it important to track assets in the office?
According to statistical data, up to 75% of employees have stolen from their workplace at least once. Asset tracking provides effective staff control and helps avoid the theft of expensive equipment.