So, You Want to Track Your Assets…
When it comes to managing inventory, an ERP system can absolutely help a school district track fixed assets, managing capital assets above a set monetary threshold. This fixed asset system can help administrators get a broader look at the data that matters to them from a financial perspective. However, when it comes to managing your district’s assets of walkable and instructional technology inventory in a comprehensive way that allows district administrators at all levels to make data-driven decisions, your fixed asset system can only take you so far.
While a fixed asset system is a necessary financial tool for fulfilling district accounting needs, there is danger in relying solely on this tool for inventory tracking. Be careful not to overlook important shortcomings which put your assets at risk for upcoming audits, reporting for refresh planning, or a 1:1 device initiative.
When it comes to tracking district assets, an ERP system can handle complex capital asset financial reporting, but the system was not designed to handle real-time assignment and movement of asset inventory across – your everyday, real world school processes. Integrating your fixed asset system with an asset inventory tracking solution like TIPWeb-IT is the most comprehensive way to impact how your staff is tracking, documenting, and reporting on critical devices and equipment.
Fixed Asset Systems & TIPWeb-IT: Better Together
The best way to provide your district with maximum visibility is to integrate your fixed asset system records with an asset inventory management system like TIPWeb-IT to track your fixed and mobile assets. By integrating these systems, you can avoid potential gaps and inconstancies in your data and ultimately save staff across the district time and money. A Gartner study found that an effective life cycle IT asset management plan can help you reduce the cost per asset by as much as 30 percent during the first year.
Communicate Asset Information Across the District
With the influx of low-cost mobile devices into classrooms, it is crucial to have a system in place to correctly validate the location and status of any asset necessary for operations to ensure they are accounted for accurately. TIPWeb-IT allows the entire district to identify and update asset information as it is needed for any department or school building in the district, eliminating guesswork and reducing the time spent hunting for information.
Keep Asset Data Accurate
Most district business administrators cringe at the idea of adding thousands of low-cost, non-capital assets to their already hard to maintain fixed asset system database. TIPWeb-IT provides you with a separate database for department heads and principals to easily manage assets under their control and ensure that your district can easily report and update the fixed asset system. Inventory automation will minimize the need for paper forms by providing electronic documentation and workflow approvals for the movement of assets from building to building or disposal.
Additionally, with TIPWeb-IT, you can better track devices purchased with special funding, like Title I, e-Rate, Title II Part D, grants, etc. Assets purchased with funds from special programs require special tracking, and TIPWeb-IT can pick up where your fixed asset system leaves off.
Automate Inventory Taking
By using TIPWeb-IT in addition to your fixed asset system, you can easily perform and monitor the progress of inventory checks in real-time – giving the district instantaneous information on which assets are verified, missing, or misplaced. There’s no longer a need to send paper printouts or spreadsheets from the fixed asset system for each school principal to account for assets when they can quickly validate the location of assets electronically. You can use RFID and barcode technology to physically verify and assign inventory to building locations. Use room inventory reports as a starting place to find the asset in the school building, where schools can quickly identify the actual location of assets. This automation is the same functionality that companies who perform physical inventory services would use to systematically audit each site, saving both time and money.
Comprehensive asset tracking tools such as TIPWeb-IT provide data integration options with the district’s student management system and human resources software to manage the assignment of devices to students and staff. Additionally, TIPWeb-IT complements the needs of financial asset managers with real-time mobile inventory audit functionality and asset usage reports to perpetually keep your asset information up to date.
These are just a few of the ways your inventory control processes benefit by having both TIPWeb-IT and a fixed asset system working together for you.
All of the countless options available to your district can be overwhelming. As districts across the nation are modernizing and upgrading their technology, it’s important to remember that each data point ultimately effects the lives of students. Selecting a system that integrates into existing software programs, fills gaps where current tools can’t cover, and puts the needs of students first.
TIPWeb-IT software, for asset inventory management, empowers district staff to work smarter by efficiently managing district and campus inventory in a single solution. Eliminate repetitive manual data entry, tedious paper processes, and information silos with a cloud-based software that was built specifically for the needs of K-12 school districts. Tracking and managing inventory data in TIPWeb-IT makes it easy to report what you own, where it’s located, and how it’s being used.
TIPWeb-IT Empowers You to:
- Gain visibility into the life cycle of all your assets.
- Respond confidently to audits with reliable data.
- Maximize existing resources by identifying and transferring underutilized items.
- Reduce asset losses by holding individuals and campuses accountable.
- Comply with requirements to track funding sources and report on asset value and depreciation.
- Plan accurately for future technology purchases and refreshes.
Hayes Software Systems is here to help you figure out the best solution for your district’s specific goals. Let’s talk about your unique needs and find out how we can help. Contact us to learn how you can integrate asset inventory management as you modernize.
About Hayes Software Systems
By offering SaaS solutions and services tailor-made for the unique needs of education professionals for nearly 30 years, Hayes has helped over 8,000 schools, including 35 of the largest 100 districts in the country, implement asset management solutions.
Hayes is a privately held company specializing in asset management software and services to support K-12 inventory accountability. While primarily servicing K-12 school systems, Hayes also has customers in higher education, state agencies, and government entities.