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Control Company Growth with Asset Tracking Software

Tracking assets is an important concern of every company, regardless of size. Assets are defined as any "permanent" object that a business uses internally including but not limited to computers, tools, software, or office equipment. While employees may utilize a specific tool or tools, the asset ultimately belongs to the company and must be returned. And therefore without an accurate method of keeping track of these assets it would be very easy for a company to lose control of them.

Those companies that tend to be most profoundly affected by lost assets are, of course, small businesses, as keeping costs low is the key to the success of small businesses. Making certain that assets are fully accounted for is a way to keep control of a company's costs, through the elimination of the expenses involved in replacement.

With technology advancing rapidly, asset tracking software has become available that can be used by any business for tracking assets, regardless of the type of asset a company may have. A study issued in December, 2005 by ARC Advisory Group, set the worldwide market for Enterprise Asset Management at an estimated $2.2 billion, with an expected growth rate of about 5% annually, reaching $2.8 billion in 2010.

Asset tracking software allows companies to track what assets it owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset.

Most asset-tracking solutions have a built-in reporting option with pre-built reports such as assets by category and department, asset check-in/check-out, net book value of assets, past-due assets, audit history, and transaction details.

All of this information is captured in one program and can be used on PCs as well as mobile devices. As a result, companies reduce expenses through loss prevention and improved equipment maintenance. They reduce new and unnecessary equipment purchases, and they can more accurately calculate taxes based on depreciation schedules.

The most common assets that a company must track include office and medical equipment, training and educational materials, videos, DVDs, books, software licenses, motor vehicles, maintenance equipment, production equipment, computers, and many more

Government, educational agencies, and the healthcare industry have started using asset tracking products to reduce costs and improve efficiency. Many computer and office retailers have begun to carry asset tracking products both in-store and online.

A heavy scanning ability is for businesses with very large asset quantities. Moderate scanning ability is required by larger offices and warehouses, and standard scanning is satisfactory for light duty required in most small offices.

As business management becomes more critical for businesses of all sizes, and as businesses continue to grow and become more complex, choosing the appropriate asset tracking system has never been more important.

See how asset tracking software can benefit your firm. Control business assets with the most effective barcode scanners and asset tracking systems - Article marketing plans.