Asset Management

What is asset management software?

Whether you work in interior design or information technology, you probably use some kind of asset tracking system. In the plainest terms, an asset management system is how your business tracks its inventory. What makes asset tracking different is that usually, it’s practiced by businesses that don’t stock, sell or consume traditional inventory. 

In this article, we’ll define asset management software. Plus, we’ll help you make a list of inventory software must-haves.

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What is asset management software?

Asset management software stores all the data about your inventory, including asset quantity, quality, location and value. Asset tracking software can also be used to help businesses account for their property, streamline operations, identify inventory loss, and quickly gather information about depreciating assets. 

By properly utilizing an asset tracking app, your business will always know who was what, where, and in what condition. 

Related: Why is asset tracking important?

What should I look for in asset tracking software?

When selecting asset tracking software, you should look for a program that offers you a host of modern, frustration-free features. While there are a ton of nice-to-haves, here are some must-have features:

Barcode and QR Code Scanning

Barcode and QR code scanning are automation features that can save your business a ton of time and money. Instead of manually tracking every asset, you can use your in-app scanner to check items in and out, update their status, or learn more about the item.

Best of all, there’s often no fancy equipment required. You can use a smartphone or tablet you already own. 

Flexible Details

You should be able to make your inventory app your own. Create your own custom fields, add tons of high-resolution pictures, build your own folders. If inventory software is one-size-fits-all, it’s probably not a good fit for your unique business.

Customizable Reporting

Easy-to-generate, customizable reports are another key feature of inventory management software. You should be able to instantly create data-rich reports that tell you everything you need to know. 

Look for a software solution that allows you to hand-pick criteria for your reports, including filtering by location, item category and item value. 

Automated Reminders and Alerts

Another great feature: customized reminders and alerts. Find an inventory app that notifies you when an item is running low, needs to be returned, or is approaching expiration or warranty end. You should be able to select exactly who gets notified, when, and how. 

Multi-User System 

Your asset tracking software should be designed for teams. Even if only one person is managing inventory right now, you’ll want an app that can grow with your business. Many apps allow you to create custom user permissions, so you can control what different employees can see, edit and do. 

Simple, Intuitive Interface

Finally, insist on an inventory app that’s modern and intuitive. Look for a smart interface that makes sense for you and your team. Bonus points if the app works on both your computer and your phone. 

About Sortly

Sortly is a top-rated inventory app designed to make tracking your assets a piece of cake. With tons of frustration-free features, why not give it a try today?