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Take Control of Your Assets in 2014

take-control-assets-banner The start of the New Year is a great opportunity to implement new processes to help your business run more smoothly. Tracking assets is one process that, if done effectively, can help your small business reduce costs and improve quality. Taking control of your assets is a great resolution for your small business in the New Year; below we highlight three ways you can achieve control. 1. Asset Tracking Asset tracking solutions make it simple to manage your valuable businesses assets, from software and IT assets, to vehicles and medical devices. Instantly locate your business assets, eliminate time spent searching for missing items, and end money spent replacing lost assets by implementing asset tracking software. For example, Wasp MobileAsset helped Lone Star College System instantly track down specific assets, assess depreciation, and determine total value by creating a quickly searchable catalog of IT assets, including laptops, projectors, servers, and switches. By implementing an asset tracking solution, the Lone Star College System was able to save time and money during auditing and reporting, which is significant considering they own and operate over 30,000 IT assets. take-control-assets-small 2.  Manage Costs Tracking assets gives you the ability to determine how funds are allocated to assets and insight into which assets are available. By having this information, you are able to evaluate how much money is spent acquiring and maintaining current assets. From there, you can analyze and make decisions based on that information. For instance, you may be able to determine if there is a less expensive but equally reliable version of the item or a better maintenance option for existing assets. Continued assessment of where your money is going in regards to assets allows you to make better, more informed decisions that result in additional savings for your small business. 3. Eliminate Risks Evaluating assets allows you to glean a better understanding of when they were acquired, how much they have been used, what maintenance has been done, and when they need to be replaced. By tracking this information, you alleviate risks for your small business. Knowing when an asset has reached the end of its lifecycle allows you to dispose of it before it becomes unnecessary or hazardous. For example, when medical devices have been used for a long time and are no longer safe, you would be aware of that information and know it is time to replace that device. In addition, when it is time to replace an asset, you can implement the proper process of quickly retrieving valuable data and checking for a feasible substitution. Make it a priority to take control of your assets in 2014. Keeping track of assets is imperative to help your small business cut down on the amount of time and money spent on missing items. Check out Wasp’s asset tracking solutions and help your small business to stay organized and to save money. What are your asset goals for 2014?  Tell us in the comments.