The role of the CIO has many functions that deal with technological projects within a company. Today, efficiently managed and implemented technology is more vital than ever. This includes implementing IoT solutions that enable greater workplace processes. When selecting an asset tracking system, three main attributes must be considered: functionality, reliability, and scalability.
Researching Key Capabilities of Asset Tracking Solutions
Before any decision is made to implement new technology, a CIO must clearly define what needs they are seeking to meet. A person in that position must research, test, and implement the system of choice. The following questions are essential for a CIO to find answers when selecting an asset tracking system.
Will the system do everything required both intuitively and efficiently? Performance history can be utilized to boost a variety of process efficiencies. Looking from the angle of cost savings, the company will lower the cost of lost assets if the system increases accountability. Will the system allow you to upload mass volumes of data to handle the additions of many assets efficiently? Newer FASB accounting standards require detailed records of each purchase, which with asset tracking software, your company can keep those records organized and readily available. Another angle to look at is system compatibility. Will the execution of the new system function simultaneously with the other systems currently implemented?
Audits can be the most stressful time for companies, and management needs to know that they can rely on reports for accuracy. Traditional equipment or material audits included paper-based methods where employees would manually search for inventory. With an asset tracking system, all equipment can be easily accounted for through a User Interface (UI) that displays the information you need in one place.
How much volume of data can the asset tracking system handle? Is your organization planning to grow significantly? Can the system handle mass volume of assets at a time? In other words, can this system scale, or would you need to look at a different system as the organization grows? It isn’t easy to scale your business for growth when you're still using spreadsheets to keep track of everything you own. An asset tracking solution helps you identify asset utilization trends to help you prepare for growth.
Is Your Company in Need of an Asset Tracking System?
Link Labs’ AirFinder solution was created by a group of engineers that know the importance of implementing a solution that meets the key criteria listed above. If you’re a CIO looking for an asset tracking solution, reach out to one of our representatives to book a demo and take the next step.