Equip Employees for Success

Asset management software helps companies keep a digital record of internal assets and inventory, such as laptops, work phones, and other electronic devices. It also covers other types of physical assets, including office equipment, but can even extend to digital assets, such as software licenses.

Depending on business needs, there are different kinds of asset management software. For instance, IT asset management software (ITAM) focuses on software license management as well as managing hardware assets. These can be combined with device management software to ensure that IT devices are secured and used in line with company policy. There are also dedicated IT service management tools that can be used by IT departments in larger organizations.

Asset management software for HR teams, on the other hand, will generally focus on recording the details of new assets that have been assigned to employees to help them complete their work. These assets could be things like laptops, work phones, external monitors, desks and office chairs for working from home.

Other asset management solutions may focus on larger assets, such as vehicle fleets and machinery. These tools typically track metrics, such as depreciation and asset performance, and automate key tasks such as maintenance scheduling to prevent unnecessary downtime.

With an asset management tool, HR managers can replace time-consuming spreadsheets with a centralized digital record of asset data. This can help them to keep track of which company inventory has been assigned to employees, remaining inventory levels, and the location of each individual asset. This helps managers responsible for procurement in forecasting upcoming costs and equipment needs so that they can make informed decisions for budgeting.

Making sure that new employees have all the necessary tools to perform their job is crucial to a smooth onboarding process. The best asset management software will centralize key information such as purchase costs, warranties, previous owners, and serial numbers.

Inventory Management is flair’s built-in asset management tool. Like all flair features, it is natively built on Salesforce, meaning it is secure, scalable, and cloud-based. Unlike other asset-tracking software, it is specifically designed for HR professionals, making it easy to use whilst improving decision-making across the team.

Our asset management functionality includes the ability to fill in complete records of asset data, log the history of an item of inventory, and create simple workflows for assigning assets to employees. Thanks to our self-service, web-based employee portal, employees and team leads can easily view the assets that they have been assigned. They can request support if needed using our ticketing feature, which acts as a service desk for HR-related queries.

Our inventory management feature can also help direct and reduce the number of support tickets. For each inventory item, you can assign a support contact so that employees know who to ask for help. You can also attach user manuals, setup guides, and tutorial videos to help employees get started independently, while also ensuring they use devices according to company policy.

What’s more, by having all your asset data stored in Salesforce, you no longer have to search through countless Excel spreadsheets to find a purchase price. You can build custom reports to better monitor and optimize your HR procurement strategy.

For HR teams, the most important features of an asset management tool are being able to see where inventory has been assigned, who it has been assigned to, and the ability to attach supporting documents to reduce tickets. Most HR teams will not require a full-scale, standalone asset management platform, such as Asset Panda and AssetExplorer. While these solutions are very comprehensive, they also come with a steep learning curve and many features that HR managers will not use on a daily basis.

Managing assets using Microsoft Excel may be fine for very small teams of ten or fewer, but it soon becomes inefficient as teams and inventories grow. Especially in companies with multiple locations, having a centralized SaaS tool connected to other core HR functionality can simplify daily inventory management needs.

With flair, HR managers benefit from a lean, user-friendly solution that is linked to other HR-relevant data. For example, HR professionals can manage company assets, onboarding, employee personal details, and much more, all in one place. This means that assigning assets to new hires can be directly integrated into the onboarding process, eliminating the need to switch between software. flair also helps streamline inventory management and syncs asset data in real time throughout the organization.

Cost is also a factor to consider. Choose software that fits within your budget. Keep in mind that the cost of the software should be weighed against the potential cost savings and efficiency gains that the software can provide. flair has a flexible pricing plan to meet the needs of your organization.