2. Asset management systems
For companies using manual or spreadsheet-based asset management systems, it’s much harder to track where tools are - particularly if you have numerous sites across multiple locations. Tools are often passed around during the day, and without an adequate system, it’s hard to know where your equipment is and who's using it.
Tools can easily be taken from building sites or warehouses without being registered by manual asset management systems, making it more difficult to protect your equipment against theft. It also means that recovering stolen tools is less likely if you aren’t sure where or when the tool was stolen.
Poor asset management systems can even lead to tools being misplaced or lost within the system. This lack of clarity of where tools are can cause problems in terms of stock levels and procurement.
With asset management systems such as ON!Track, it’s easier than ever to manage quantity items and asset costs, as well as keeping your projects on schedule, profitable and fully compliant. Using a combination of asset tags, labels and cloud-based software that can be accessed from almost anywhere, you'll always know exactly where your equipment is. So if you do fall victim to tool theft, you can pass this information to the police so they can investigate the incident.