Whether you are running an established or small business, it is always essential to know the condition and whereabouts of your company assets. Assets, such as properties and equipment, play a vital role in a company’s growth and development. It helps you make revenue, increases business value, and helps run your business to great heights. That is why it is important to track them all out. However, a company or organization that fails to invest and give priority to asset tracking will lose money, time, and effort. Hence, it should be one of the many things that businesses should take into account. Here, we have provided you what asset tracking is and its importance, as well as sample asset worksheet templates. Scroll down below.
What is Asset Tracking?
According to an article from Forbes, asset management is one of the most important processes that businesses should prioritize, especially in the real estate industry. One of the many ways to asses and evaluate assets is through asset tracking. So, if you are running a real estate firm or any type of business, it would be smart to keep track of your assets.
Asset tracking is a process where companies and organizations do to track their physical assets. According to an article from Medium, the sole objective of asset tracking is to save time and money. It helps business owners to gain valuable data and information regarding the condition and usage of their assets—who uses something and where and when it was used. Every single data that is gathered through asset tracking will be useful for companies, especially in decision-making and generating strategic plans.
What is an Asset?
An asset is any tangible and intangible resource that is owned by companies, organizations, individuals or government sectors that have an economic value. Based on an article posted in Medium, assets can be properties, equipment, vehicles, devices, etc., depending on your business’s domain. Assets are necessary for a company’s growth since it helps in generating revenues.
FREE 7+ Asset Tracking Samples and Templates in PDF | MS Word | MS Excel
The templates provided below are sample asset tracking datasheets that you can utilize and use as a reference. These sample templates are well-made and professionally written to generate accurate results. These templates are also customizable and print-ready for your convenience. Check them out now!
1. Asset Tracking Template
2. Sample Asset Tracking Template
3. Employee Assigned Asset Tracking
4. Fixed Asset Register Tracking in Excel
5. Department Asset Tracking Template
6. Asset Management Plan Tracking
7. Asset Register Tracking Format
How to Make an Asset Tracker
Tracking your assets need to be well-executed to generate excellent and desirable results. That is why it is important to have an impressive and competent asset tracking material to streamline data and information accordingly. However, making an asset inventory tracker is more than just adding columns and rows. If you want to know how to track your assets using a spreadsheet effectively, simply follow the tips that we have provided you below.
1. Start with a Plan
The asset tracking process needs to be well-executed to have a satisfying and useful data result. That is why it is imperative to create a concrete plan prior to making an asset tracker material. Planning is essential in many ways, especially in management. It helps you have an idea or guide of what to do to make the process run smoothly. Planning also enables you to gather all the needed information to incorporate in your tracker using a blank checklist. So, if you want to have an effective asset tracker, never skip planning.
2. Create the Layout
Once you have already established a precise plan for your asset tracking material, it’s time to craft the layout. The data in every tracker are usually enclosed in columns and rows. Hence, you have to create a spreadsheet enough to cater to the data that you will incorporate, and those that you will gather along the process. In doing so, utilize any software that allows you to develop tables conveniently. Nevertheless, make sure that every cell of your asset tracking spreadsheet is labeled based on the information that you want to get.
3. Include Company Branding
Asset tracking spreadsheets are business documents. That is why it is essential to include basin company details for branding purposes. In the upper portion of your asset tracker, place your company or organization’s name with logo and tagline. Also, incorporate your company’s contact details, as well as the address. Doing this makes your asset tracking material more presentable, professional, and distinct.
4. Add Instructions
Instructions will serve as the guide as to what should be stored on each cell of your asset tracking material. So, to make your asset tracker more efficient and effective, it is best to add a short instruction before the table. You may also use legends to make your asset tracking material more definite. Nonetheless, make sure that whoever will use the material will have an idea of what data to include and where it should be placed.
What are the benefits of asset tracking?
Asset tracking is more than just knowing the status of your physical assets. It gives business owners benefits that would help their companies development. Asset tracking lowers administrative costs, secures accountability and cost savings, helps in the development plan, increases efficiency and accuracy, and improves customer service.
What are the risks of poor asset tracking?
Asset tracking is one of the essential things that entrepreneurs must do to ensure efficient and effective business operations. Since it is a necessity, asset tracking must be well-written and accurate. Failure to incorporate define information will result in compliance breaches and poor performance. The risks of inadequate asset tracking include the poor return of investment, inability to determine potential savings and enhance asset performance, and drive-up on insurance costs.
Asset tracking is one of the key components that add up to the success of a business. It enables company owners to keep track of their assets, from the big ones down to the least. Asset tracking also gives excellent advantages that businesses—regardless of its nature—will be able to benefit. Therefore, asset tracking should be present in every business. And, it is important to understand the role and purpose of asset tracking to be able to work with it properly. So, If you need an asset tracking material, browse out our sample templates provided above. Download now!
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