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In running a business that involves leasing machines, asset tracking is the stakeholder’s most significant operational challenge. Many machine/asset rental companies still record company assets with spreadsheets. However, the manual process is inefficient because it is less accurate and prone to errors.

Asset Rental Company Challenge

• • Not knowing the location of the asset: which client or which branch of the company.
  • Still relying on paper forms, so movements are sometimes not recorded.
  • Assets that are reported to be damaged have not been repaired.
  • There is no accountability if assets are damaged and lost on the ground.

Asset Management Solution

1. Record and label new assets.

The stored data ranging from the type, storage location, specifications, acquisition date, and the production time of the asset. Each asset can be labeled with a different identity that is easy to identify

2. Inspect  the condition of each asset when it’s ready to be returned to the warehouse.

Make sure no damage occurred. If there is any, the client’s responsibility must be requested immediately.

3. Send technicians to carry out routine maintenance for machine assets.

Machine maintenance is essential if a company wants assets to last long. Technicians can check the specifications of the assets and spare parts required by checking the identity of the asset

4. Track the assets, their location, and respective users.

Suppose the asset changes location from one client to another. In that case, its latest location in the system must be updated, and the condition must also be checked.

Advotics Asset Management

Is designed to assist companies in documenting all asset movements. Apart from monitoring location movements, the system can also record the condition of assets. If maintenance is needed, the company can immediately send technicians to the client’s location.