If you have ever rented a computer or piece of audio visual equipment, or worked somewhere that used asset labels, you probably understand how they work. A metallic overlaid plate is printed with reference information, usually a barcode and the name of the organization, and secured using a permanent adhesive to the company’s equipment.
When this equipment is loaned out to your technicians and employees, the barcode can be scanned to update an inventory management system. This database stores information regarding who has possession of the equipment, and what condition the equipment is in. This allows business owners to quickly identify and keep track of business property.
Asset tags can be used on any number of products including cars and trucks, laptops, desktops, phones, and even tools. Due to the resilient nature and durability of the tags, they can be placed on indoor and outdoor equipment, in even the most extreme temperatures and climates. Here are the top three uses of asset tags.
Loss Prevention and Recovery
One of the primary uses of asset tags is to prevent the unnecessary loss of company equipment. Equipment that is clearly tagged and easily identifiable is much less likely to be stolen than untagged equipment. There is some latent authority behind the tag, warding off would-be thieves. Finally, since the tag’s information is stored on a centrally-managed database, you know exactly which employee is responsible for which piece of equipment. This allows you to quickly and accurately determine the source of the loss.
In some instances, the use of asset tags makes it easy for lost or stolen items to be identified and returned to their rightful owner. For example, if one of your employees accidentally leaves a company laptop or cell phone at the airport, the equipment can easily be identified by airport personnel and returned to the company or the employee.
Asset tags also provide a convenient way to store and manage asset records. This is vital for insurance claims in the unfortunate event you lose an item, or if your business is struck by fire or some other natural disaster. Since your fleet information, including the serial number, description, and even value, are stored and centrally managed, you have plenty of information to provide a claims adjuster.
When you apply for business loans, you often have to show proof of business assets as collateral. With your asset tags and their corresponding database, you can provide a report of the value of your company’s equipment with ease.
Finally, asset tags can serve as a reminder of service contracts and lease agreements. Since most asset tag databases include information on the equipment’s condition and lease or agreement expiration dates, you can make sure you stay up-to-date with your contract terms.