Asset registration system

Private sector

Effective asset management and inventory is particularly important for companies in today's dynamic and competitive business environment. It is no longer just about meeting legal requirements, but a strategic tool that can determine a company's success and competitiveness.

Inventory is essential for the accurate recording of a company's assets and resources.

• It provides an accurate and up-to-date overview of all the assets a company owns, where they are located and what condition they are in. Assets can thus be located more quickly, saving time and increasing work efficiency.
• It helps to detect potential loss, theft or damage to assets, enabling the firm to take action to minimise it.
• Ensures better control over and accountability for assets.
• It improves financial planning and budgets, leading to more efficient management of the business itself.

Companies that carry out inventories on a regular basis significantly reduce errors and losses. So why don't some companies take inventory on a regular basis? The most common reasons are:

• Time consuming
• Costs associated with taking inventory
• Lack of staff
• Inventory complexity due to neglect of asset records
• Lack of awareness of the importance of the inventory
• Fear of detection of shortcomings

In addition, there are now an increasing number of companies that allow their employees to work from home, which creates another problem related to the fact that assets are located outside the company premises in employees' homes.

Most of these problems can be easily solved by using a modern software solution and automatic identification technology such as barcodes, QR codes or RFID technology. They significantly simplify, speed up and refine the inventory process.

Benefits of using modern software:

• Technologies such as RFID and barcodes enable fast and automated asset identification.
• Automation -asset management software provides up-to-date data.
• Time saving - companies save a lot of time on inventory.
• Better analysis and planning - simplifies record keeping and improves resource planning.
• Easy integration with existing business systems such as accounting software or ERP system.

Benefits of moving to digital asset accounting:

• Accuracy and efficiency - digital record keeping improves data management accuracy and process efficiency.
• Quick access - provides instant access to information and allows easy updates.
• Reduction in errors - companies see a significant reduction in administrative errors.
• Security - cloud solutions minimise the risk of data loss and enable secure access.

Using modern technology to inventory assets brings a number of benefits to businesses, helping them to improve insight, save time and minimise errors. Therefore, investing in these technologies has become a necessity for businesses nowadays.

Public institutions

Also, various public institutions such as state agencies, counties, municipalities, hospitals, libraries and schools manage extensive assets that are essential for their functioning and for the provision of services to citizens. In addition to their general duties in managing their assets, public institutions may have other specific duties arising from their specific status and activities, such as hospitals in managing medical equipment, schools in managing teaching aids, and libraries in managing library collections. Efficient recording and management of these assets is therefore crucial for their economic, accountable and transparent functioning.

Public institutions face similar challenges to private companies when it comes to recording and managing their assets: time-consuming and lack of resources, both financial and personnel. In addition, they often manage high-value assets that require special attention and expertise to record and maintain, such as works of art and collections. A pen and paper inventory is not an effective solution in this respect.

The ideal solution is to implement a modern and efficient asset registration system that uses modern technologies such as barcodes, OR codes, RFID and asset management and registration software.

EVIDEI is such a software solution. It is a comprehensive tool that will make your inventory process faster and more accurate, shortening the asset inventory process. The application allows you to record any number of levels of physical location and logical classification of assets.

• No installation is required, the system runs securely on Azure cloud servers.
• The advantage is immediate use - all you need is a login and password.

In practice, it is a combination of software - web and mobile applications and hardware - printers and mobile terminals, possibly RFID readers. You can also use the camera of your mobile phone in combination with the mobile application. For ease of use, easy-to-print self-adhesive labels have proven their worth.

Based on real-world experience, the solution can speed up the inventory of assets by at least 2-3 times compared to a pen and paper inventory, with a significant reduction in error rates.

More information about the software solution for advanced asset management and efficient asset inventory can be found here ⇒ EVIDEI