How Do Asset Tracking Systems Boost Hypermarket Prospects?

Posted by sarahsmith41094 on December 29th, 2020

Assets are resources owned by an individual, group or a business that possess some economic value and help generate revenue. Hypermarkets harbor these resources in diverse and great quantities.

As much as assets help businesses earn an income, they can also hinder revenue. Resources deteriorate over time and continuous use, and leaving them neglected in such conditions will lead to higher maintenance expenses and poor operations. 

Refrigerators, IT equipment, furniture, fixtures and buildings are some of the most important assets that exist in a hypermarket. Each of these assets require proper management. It involves tracking, maintaining, analysis and finally disposal. The combination of these processes result in an overall improvement of the hypermarket’s prospects. Be it in terms of customer satisfaction, revenue, accuracy and many more. 

The most effective method of managing hypermarket assets is to use a hypermarket asset tracking software. Let’s take a look at what it is and how it helps raise hypermarket prospects.

What is an asset management software?

An asset management software is a digital solution that seamlessly tracks and maintains assets throughout their life cycles. It gives hypermarket owners, managers and employees centralized control over all the store’s resources. All it takes is a few clicks of a button. 

Also known as inventory tracking systems for hypermarkets, these software applications contain a plethora of dedicated features for managing assets with speed and accuracy. Today, they are a must-have for every hypermarket. 

Entrepreneurs are increasingly preferring to upgrade to a digital asset management solution because of the wide range of benefits they have to offer. In addition to that, they are far superior compared to traditional asset management methods.

How are asset tracking systems better than manual management methods?

Long before the advent of digital asset tracking systems, spreadsheets and paper-based tools were the go-to solutions for managing assets. Although they served the purpose to a certain extent, they are no longer reliable for today’s hypermarkets. We’ll tell you why.

Unlike hypermarket asset management software solutions, spreadsheets and paper-based tools are:

• Not specially designed for managing assets

• Clunky to use on smartphones

• Prone to errors like typos

• Labor-intensive

• Difficult to navigate when there is a large amount of asset data

• Devoid of bluetooth integrations

Manual management methods are capable of handling asset records, but they are inefficient compared to dedicated digital tracking solutions. Continuing to use manual methods in today’s business scenario will limit productivity and revenue potential.

Features of asset management software

Hypermarket asset tracking software solutions are made up of features that make asset management a hassle-free task. The more features an asset tracking software has, the more control hypermarket managers gain over the store’s assets. Here are the most crucial features.

Inventory management

The software can track assets in the inventory in real-time. It can reveal information about what is available in the inventory, what is running low and what needs to be purchased. 

Tracking technologies

The digital tracking system can seamlessly connect with tracking technologies like barcode, RFID and NFC. This improves the pace and precision of tracking assets.

Asset maintenance

The inventory tracking software allows its users to plan and carry out regular inspections and maintenance. 

Dashboard

The dashboard provides an overall at-a-glance view of assets and their details. It includes how many assets there are in the hypermarket, what is their total value, number of categories and more.

Notifications

A great feature of digital asset tracking systems is notifications. It can be set up for reminding regarding asset expiry, low inventory, approaching maintenance schedules and more.

Cloud-based storage

The software stores all of its components, resources and data on the cloud. This allows its users to access the software and its database from anywhere at any time.

Mobile app

The tracking system can also be used on smartphones and tablets via an app. This provides added functionalities that can be used on-the-go.

Reports & analytics

The management system can gather data at various key points, analyze them and produce insightful reports. 

Benefits of using a hypermarket asset management software

By utilizing the industry-leading features that come with tracking software solutions, hypermarkets gain several benefits such as:

• Improved productivity

• Reduction in expenses

• Enhanced savings

• Increased profits

• Greater accuracy

• Informed and strategic-decision making

• Longer asset life cycles

• Elimination of ghost assets

Summing up

If you own a hypermarket, then you know how overwhelming it can be to manage all the assets present in your store. But with a hypermarket asset tracking software, you can seamlessly track your assets from the time they are acquired until they are disposed of. 

Boost the prospects of your hypermarket by investing in a robust asset management software. I highly recommend SmartAMS from SmartPoint. It has an extensive list of features, great support and is easy to install and use. Contact them to know more today.