Business Management ABCs

Asset Tags – Step One to a Valuable Asset Management System

Whether you are a decision-maker in a large corporation, a small business owner, or simply a homeowner or renter with a lot of stuff, it might be a good idea to consider using asset tags to keep track of your assets.�Asset tags in conjunction with a well-maintained database can help you keep a handle on all your valuable assets. �

What are asset tags? �

Asset tags are labels.�Made from metal, polyester or plastic, they can have unique barcodes and can be customized with your company logo or just your company information.�They are durable, weatherproof, and can be made to prevent clean removal.�That way nobody can take a tag off one piece of equipment and put it on another.� �

What are they for? �

Properly used, asset tags can help prevent employee theft, can simplify equipment records and processes, and can make it very easy to file a claim with your insurance company, should something happen at your business.�Your bank may even require them to verify your assets for loan purposes. �

Some examples: �

• Your company buys all new computer monitors and distributes them to each employee.�Down the road, an employee gets laid off or fired, and next thing you know that new monitor is missing.�With no asset tag, you cannot know for sure exactly which one of those new monitors is gone.�With an asset tag and a well-maintained database, however, you can be sure that the monitor missing is the one assigned to that employee.�If your database is robust enough you can also have easy access to any insurance or warranty you hold on the item.
• You have a fire at home and most of your possessions are lost.�With an asset tag system along with an updated database, it’s a two-click process to get your claim information together for your insurance company.
• As an employee, you come into work one day and some of your equipment is missing.�With an asset protection system, your employer can verify that you are not responsible for the missing items.

How do I make asset tags work for me? �

Buying the tag is the first step.�Beyond choosing the color, material, and look of your label, you will also have to decide if you want sequential numbering and barcodes.�Most suppliers recommend both, so that each tag will be unique and so you can use the barcode system to make your asset management program more robust.�Even if you do not plan to use a scanning system right away, it is better to label once, even if you’re going to categorize twice.� �

Additionally, using a scanning system is surprisingly easy.�A little bit of legwork on the front end insures that your assets are tracked and managed.�Just apply asset tags, scan and record their data into a database, and keep it updated as you add or remove assets from your inventory.� �

Whether you are implementing an asset management system at home or at your place of business, remember that it starts with the tags.

Mark Trumper is the CEO MaverickLabel, leading pioneer of label products via the Internet. The MaverickLabel.Com website offers asset tags and labels, digital printing, as well as hundreds of other label products, in a secure online environment. MaverickLabel can be found online at: MaverickLabel.com.