Did you know that almost 30% of businesses are stuck by natural disasters? Whether natural or man-made, disasters can cause severe destruction to your business. That’s why it is vital to invest in an inventory management system – to ensure your business is protected against unexpected catastrophes.
For example, let’s say a disaster were to strike your business – chances are you most likely will not recall the most up-to-date inventory of every asset your company owns. Chances are even better that you will not be able to recall important data such as:
- When your assets were purchased
- Asset serial numbers
- When the last time each asset was calibrated or upgraded
- What the current condition of each asset is
All of this information is crucial for properly running a business. It is for this reason that investing in an inventory management system is essential!
In the past, companies used spreadsheets to help keep track of their assets. While this method may have sufficed at the time, it is no longer an efficient way to manage asset inventory.
As companies grow, so does the number of assets they own, along with the number of employees using said assets. When there is more than one person using asset inventory on a regular basis, it is important to ensure tracking of asset inventory can be easily managed by multiple people. For this reason, a standard spreadsheet will not do. When multiple employees are using one spreadsheet, errors occur and data isn’t entered correctly, if even at all. If assets are not properly tracked and data isn’t gathered, assets can be lost or misplaced, which in turn causes companies to spend unnecessary money on replacements.
If a disaster were to occur, chances of a spreadsheet surviving is slim. Computers would most likely get destroyed which means all documents, including an asset inventory sheet would be gone and could never be retrieved.
INVEST IN CLOUD-BASED SERVICES
In order to ensure that the potential loss of important data is minimized, companies are investing in cloud-based services that include an asset inventory system. It is vital that company employees are ready to perform asset management tasks anytime and anywhere. By investing in a cloud-based system, companies are putting up the strongest defense against disasters and a reaping many benefits, including:
- Time and Money Savings
- Easier Decision Making
- Better Access to Information
- A Central Location for Data
- Thorough Knowledge of Assets
- Secured Data