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Case Studies

Leased Assets Management & Tracking Case Study: Johnson Financial - Wasp Barcode

Business Challenge

Johnson Financial Group relied on a spreadsheet and manual updates to track more than 8,000 pieces of leased IT equipment. This process proved to be tedious, unorganized, and often led to inaccurate reporting and excess spending on late fees and shipping charges.

Solution

Wasp MobileAsset helped Johnson Financial save time previously spent searching for missing IT equipment and logging manual updates. Late fees and shipping costs for rental equipment ceased since assets are now easy to locate and consolidated for shipping.

Benefits

400 labor hours saved each year
8,000 less in late fees and shipping costs

Customer Profile

• Well-known financial services institution
• Based in Racine, Wisconsin with 60 locations around the U.S.
• Over 8,000 IT assets including laptops, desktops, monitors, printers, copiers, and servers

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Johnson Financial Group

We are very happy with the Wasp MobileAsset solution and the immediate ROI we achieved. We have saved approximately $8,000 a year in late fees for rented equipment we would not have found right away.
- Paul Villarreal, Information Systems Director, Johnson Financial Group

Johnson Financial Group Saves Hundreds of Hours, Thousands of Dollars with MobileAsset

Johnson Financial rents its IT equipment, utilizing spreadsheets to track asset location and other critical information. One employee was tasked with updating the spreadsheet when information was received via email from one of dozens of users. Due to the tedious, unorganized method of tracking, asset reports were often inaccurate. The IT department repeatedly questioned the location, maintenance schedule and employee-user assigned to an asset.

At the end of an asset’s lease, Johnson Financial found itself scrambling to locate and return rentals to lessor, promoting wasteful spending on excess shipping charges. With 8,000 items to track, the IT department became increasingly frustrated with their manual tracking system - it took hundreds of hours to track items.

“Tracking the IT assets by hand was very time-consuming and terribly inaccurate,” noted Paul Villarreal, the assistant vice president at Johnson Financial. “We were regularly finding errors that cost dozens of hours to correct.”

A New Era

Paul Villarreal has been the information systems director at Johnson Financial for several years. Responsible for tracking down misplaced equipment, Villarreal was anxious to improve Johnson’s asset management protocol. The exorbitant amount of time spent tracking down IT assets and money spent on unnecessary shipments had to be remedied.

After researching asset tracking solutions, Villarreal selected Wasp Barcode’s MobileAsset because it provided the features he was looking for at an affordable price. “There was very little debate. Wasp provided the services we needed within our budget. There weren’t any other solutions that provided these services at such an affordable price,” stated Villarreal.

Productivity Abounds

Since deploying Wasp’s MobileAsset in 2008, Johnson Financial has experienced dramatic improvements in the company’s equipment tracking process. The amount of time spent tracking down leased IT assets has reduced dramatically, saving the company an estimated 400 hours a year. “Since implementing Wasp MobileAsset, we have virtually solved our asset tracking problems. We no longer have inaccuracies in our reporting, which means we’re not wasting hours tracking down each asset’s location,” explained Villarreal. “Wasp MobileAsset has made my team’s job much easier. We know exactly where all of our assets are. It has streamlined our process.”

Another key benefit of MobileAsset has been the drastic reduction in shipping costs associated with the return of leased items. Inaccurate tracking of each location’s assets made tracking lease terms and item locations nearly impossible. With MobileAsset, Johnson Financial can run a report to determine when leases expire and combine shipments if possible.

With MobileAsset, Johnson Financial can also track software licenses and maintenance schedules. And, the HR department can pull information from MobileAsset to make sure any equipment assigned to an employee is collected should that person leave the company.

“We are very happy with the Wasp MobileAsset system and the immediate ROI we achieved,” stated Villarreal. “We have saved approximately $8,000 a year in late fees for rented equipment we would not have found right away.”

Johnson Financial continues to use MobileAsset because of the process improvements they have been able to achieve and because of its user-friendliness. “The best feature of MobileAsset is its ease of use. It’s easy to learn and implement, making it possible for multiple people to use the program. It’s very intuitive and there was very little training needed. We have had a wonderful experience and have received great customer service. We’re looking forward to continued success with Wasp Barcode Technologies' solutions,” said Villarreal.

How Wasp MobileAsset helped Johnson Financial Group:

  • Enterprise asset management enabled Johnson Financial to better plan and execute the lease agreements for IT assets at over 60 locations nationwide
  • Enhanced management saves time, eliminates errors and alleviates administrative burden of manual asset tracking

Since implementing Wasp MobileAsset, we have virtually solved our asset tracking problems. We no longer have inaccuracies in our reporting, which means we’re not wasting hours tracking down each asset’s location.
- Paul Villarreal, Information Systems Director, Johnson Financial Group