What is Asset Control?

Assets are resources of an individual or company with economic value. The asset is used to increase the value of the firms and to provide benefits. Assets are reported in the balance sheet of companies. Companies need control to manage their assets and asset control plays a critical role for them. Tracking the asset process is valuable in terms of benefits and business processes. That is why it is necessary to master the asset control process and store information.

What is Asset Control?

Asset control is a process in which a company keeps track of all information about its assets. Asset control, also known as asset tracking, monitors and learns about all existing assets throughout their lifecycle. This check includes the use, maintenance, damage report of the assets and all available information about who is using it.

Asset control is becoming digital day by day with the development of technology. Until recently, asset control was done by manual methods. All the information about the company's assets was stored in spreadsheets, and the employees' information on maintenance, equipment, usage, etc. had to manually enter asset information. As a result, errors such as incorrectly adding items to the asset or missing the maintenance of valuable assets are quite common. However, asset control offers an automated system rather than spreadsheets or documents, allowing for remote monitoring of assets at any time while maximizing business efficiency.

The best asset control solutions today are cloud-based and speed up the system by automatically entering information. For this reason, asset control has an important place for companies.

Asset Control In Company

Every company’s asset control management is different because every company's assets are different. That is why companies decide on asset control systems by determining their needs. Asset control provides flexible solutions by meeting the needs of organizations.

Asset control is significant in terms of the benefit it provides to companies. Therefore, in addition to increasing efficiency, it should provide necessary solutions to companies in line with money, time savings, and needs.

Benefits of Asset Control

Thanks to asset control, company assets are easily tracked. Accessing this information at any time of need allows companies to save time. In addition, being able to remotely access and easily locate company assets increases productivity and employee motivation.

Having the right source of information about assets is a factor that positively affects productivity and profitability. First of all, different departments of companies have different assets for use. With asset control, the right decisions are made for the company by having the information of the assets in each area and the company's needs are determined.

Asset control solution reduces compliance risks and the need for auditing. Asset control, which affects many areas such as compliance, business processes, efficiency, motivation, has an important place for organizations. Asset control identifies all information in harmony and minimizes the risks of error and incompatibility. In addition, not constantly checking the assets manually increases productivity in the workplace. Knowing that the assets are in the safe area without the need for regular inspection is effective in terms of motivation.