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Asset Tracking Misconceptions + 3 Quick Tips to get you on Track

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Asset tracking isn’t glamorous, we know, there’s no misconception around that. However, there are many myths surrounding asset tracking and why it’s an integral business tool for any business. Let’s separate fact from fiction with these common mistaken beliefs.

Misconception 1. Asset Tracking is Only for Big Businesses.

This couldn’t be further from the truth. While essential for big businesses, small businesses can reap the same rewards by implementing a flexible asset management tool. Streamlining your assets saves time and money while preventing needless loss. Those benefits aren’t exclusive to big businesses, and startups and SMBs (small and medium-sized businesses) should be capitalising on these cost-saving measures as well.

For companies that still use excel spreadsheets or pen and paper to log assets, it’s time to go digital. Eliminating human error and inaccuracies and being able to grow as you do are reasons enough to make the switch. And if you’re worried about the cost, take a look at misconception number two.

Misconception 2. It’s Too Expensive

Like any useful business tool, it’s important to look at this as an investment. When the Logitout team did the math, you’re spending several minutes manually inputting data into a worksheet (different from a spreadsheet, see the difference here) versus 30 seconds through a digital app like Logitout. Every week, you save $240, and by the end of the year, you’ve saved at least $12,000. Not all asset trackers are alike nor do they cost the same but stats like that don’t lie. Not to mention reducing loss and damage to assets which can be costly, too. Think of your asset tracking tool as a strategic solution aimed at helping you achieve your business objectives. Asset tracking doesn’t have to be fancy to get the job done.

Misconception 3. It Takes Too Much Time, and it’s Too Hard Too Implement

What takes more time? Chasing after staff who may or may not have your warehouse keys, having to buy a new company phone and load it with the right information, or implementing a scalable asset tracking solution? As with the talk of money, putting the time in early to have a good management system up and running will pay dividends in the long run. In fact, some asset tracking apps don’t require fancy hardware to get you going. With barcode systems like Logitout, you can start printing, labeling, and scanning assets with a regular printer and a scanning app on your phone.

These misconceptions about asset tracking stop startups and SMBs from becoming more efficient. Whether you’re looking to streamline your processes or cut down on unnecessary office costs, invest in asset tracking with apps like ours. It may not be glamorous, but we’ll make it easy and fun.

So, what is the Answer?

  1. Take charge of your Business Assets now – your accountant will love you for it.
  2. The money you save with a digital system will free up productivity time for staff – we’ve done the numbers to prove it.
  3. Going digital is EASY, choose a system so simple a child could use it.

Go forth and conquer…..

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