Why Manage Your Assets

  • Asset management is an often overlooked function with companies using a paper based system or Excel to manage their assets
  • Often new asset purchases or asset transfers are not documented resulting in inaccurate records with errors and omissions
  • Maintaining an accurate asset register is critical for any size organisation preventing over insurance or under insurance
  • Regular audits provide reassurance to the company and insurer that the assets exist and their condition is being monitored
  • An accurate asset register is critical to determine the financial value of an organizations assets on their annual financial statement.
  • Managing assets using barcodes or RFID labels and a mobile scanner allows accurate auditing and confirmation of existence of assets

Questions You Should Be Asking

  • Do I have an asset register and is it up to date?
  • Am I losing money and time due to inefficient asset management?
  • Are my assets being misplaced, stolen or damaged without anyone taking responsibility?
  • Am I receiving all my assets back when employees leave the company?
  • Can I effectively audit all my assets accurately and in a timely and cost efficient mannner?
  • Am I able to prevent high value assets from leaving my premises?
  • Am I able to make informed decisions about my assets?

*All of the above can have a significant financial impact costing your company thousands or hundreds of thousands of Rands anually in asset losses. Poor asset management can add additional unnecessary costs due to errors and costly overtime.

Barcode vs RFID Comparison

Find out what will better suit your solution

Barcode

  • Line of sight – A bar code must be visible to the barcode scanner to each other to enable a successful scan.
  • Single scan – Only one barcode can be read at a time using a barcode scanner.
  • Data – Barcodes can only contain static data and this data cannot be altered once printed.
  • Price – barcode tags and readers are relatively cost effective

RFID (Radio Frequency Identification)

  • Scan range – An RFID tag does not have to be in line of sight to the reader, only within read range eliminates unnecessary asset movements.
  • Multiple Scan – Multiple tags within the scan range can be scanned simultaneously thereby reducing audit times.
  • Data – If necessary, data can be written and rewritten multiple times on RFID tags making them more flexible
  • Price – RFID tags and readers are more expensive in comparison to barcode tags and devices

Fixed Assets

  • Fixed assets are equipment which are usually attached and essential to the building’s function, however, the asset will have a shorter life than the building itself. These items are stand alone, not associated with any particular department or area but are part of the building.
  • These can include the following building services equipment: Airconditioning, heating, generators, ventilation, elevators, escalators, plumbing and sprinkler systems.
  • Buildings, lease hold improvements are also considered to be fixed equipment on the asset register.

Movable Assets

  • Movable assets are equipment used within the organization to conduct business operations.
  • These include: furniture, artwork, IT Equipment, office equipment, kitchen equipment, motor vehicles and tools and machinery.

You Need Taggit Assets

Taggit Assets has been designed to provide an easy to use experience, to work across multiple technologies to ensure accurate data management and is priced to add value to your organization without being cost inhibitive.

Taggit Asset Features includes…

  • Customize to application to  suit your organization
  • Compile a comprehensive asset register with multiple fields of relevant data
  • Allocate assets to employees, departments, clients or returns to suppliers
  • Upload multiple type of documents associated with the asset
  • Maintain a complete history of the asset from purchase to disposal
  • Manage the licensing of assets and software
  • Manage asset audits accurately using barcode or RFID
  • Keep track of your assets using live RFID tracking