Management + Systems

Here Swiss company Timly focuses on how companies can transform their tool and equipment management through the use of Cloud Asset Tracking – helping to revolutionise inventory management by employing QR technology for instant data recording and access. 

Companies, irrespective of their size, usually have a wide array of assets. At the most basic level these include IT equipment and office furniture, but often extend to small tools, both powered and non-powered equipment, vehicles and heavy machinery. Add to this digital assets, such as contracts, software licences, subscriptions and intellectual property. 

The broader the scope or larger the size of a company, typically, the greater the number of assets. The challenge lies not in cataloguing these items, but in recording and linking all relevant details – tracking their locations, identifying current users, noting last service dates, scheduling upcoming maintenance, as well as maintaining a log of any reported issues and repair history.

Many companies have traditionally relied on spreadsheets for asset tracking, but this method has two main shortcomings – it quickly becomes unwieldy and it’s prone to human error. Consider the challenge of linking physical and digital assets to individuals, offices, sites, and documents, such as maintenance and repair histories. It quickly becomes clear why such complex tasks are unsuitable for managing with spreadsheets. What’s needed is a digital system that allows the seamless integration of these elements, providing a singular repository for all data and information essential to asset management.

This is where Cloud-based asset tracking software is revolutionising inventory management – by employing QR technology for instant data recording and access. Companies are now able to use small barcode labels and smartphone cameras for managing equipment data anywhere and anytime. This enables the straightforward allocation of items to staff, recording of any malfunction, and scheduling of maintenance with just a few clicks. With ‘real time’ tracking and data analysis, businesses maintain the overview and insights that are essential for optimising tool utilisation, minimising downtime and reducing operational costs.