Asset Tracking is carried out by organisations to improve the utilisation and security of valuable items. Regular physical audits are a stipulation from auditors to ensure that finance departments can verify the existence of assets that are listed on the balance sheet. Organisations that fail to track assets correctly are in danger of financial determent, potentially losing vast sums of money on an annual basis.
Therefore, asset data is extremely valuable to an organisation and can be captured electronically or entered manually into a central asset register as an alternative to scanning. The register should offer fully customisable fields to record the crucial asset data identifier.