Simplify Inventory With Asset Management Software From Timly

Carry Out the Inventory: These Variants Are Permitted

The law provides for various possibilities as to how the business deal may be carried out. This takes into account the different concerns of companies. Depending on the business purpose, it is possible that a business is particularly burdened with customer traffic at the end of the business year. In this case, those responsible can, for example, switch to the postponed inventory.

The most important types of inventory are:

Specifically required is the physical inventory according to type, quantity and value, by counting, measuring and weighing. In addition, there is the book and asset inventory. In the case of the book inventory, the assets and liabilities are recorded. The asset inventory ultimately includes all inventory, i.e. also office equipment, installed components, machines and tools as well as finished products.

Despite proper bookkeeping, this comprehensive inventory of assets by type, quantity and value demands a great deal of effort from those responsible and employees of companies. This considerably impairs the work processes in companies. The personnel expenditure for preparation and implementation alone usually causes high costs.

For this reason, the holistic claim of inventory software such as Timly includes providing the appropriate support for all types of inventory. For example, the creation of inventory lists is completely unnecessary if the assets of a company have already been recorded. Timly also offers all the prerequisites for keeping a digital stock ledger, which is the basis for the permanent inventory management, which is more efficient in many cases. Here, the developers of Timly have set a special focus.

Digital Inventory Management: Keep Track of Your Devices

Inventory software must be able to map all the necessary characteristics of an asset. Timly includes a flexible categorisation that can be precisely adapted to each inventory item. Minimal required information can be stored, such as manufacturer, type and location. It is also possible to store comprehensive detailed information such as data sheets and maintenance records in the profile of an asset. Flexible container objects, which in turn can contain other objects, ensure better allocation.

Especially in IT, companies often have to deal with numerous virtual assets, such as software licences or virtualised servers. Timly makes it easy to link these to a real location and real hardware. All assets receive a QR code when they are first recorded. This identifies them in the system from then on.

Since Timly stores the data in the cloud, employees with the necessary authorisation can call up an item’s profile by scanning its QR code. For greater convenience, an inventory app optimised for smartphones and tablets is already included in the software package.

This high degree of flexibility makes it possible to integrate the permanent recording of additions and disposals, as well as the allocation to persons, locations and other objects, into the workflows of companies without any significant additional effort. If the inventory is used consistently, the number, locations and condition of any inventory category can be output at any time.

Timly also offers an inventory mode for physical stocktaking. If this is active, scanning the QR code of an asset is sufficient to tick it off. The provision of additional hardware, such as MDE devices, is not necessary.

Stocktaking – Stock and Inventories at a Glance

A major challenge for managers is that the business activities of a company can only rarely be limited to a narrowly defined location. Merchandise management is often outsourced, employees are on assembly and in the field. The home office is an integral part of the working world. This trend has, for example, established video conferencing in a short time. Classic meetings are increasingly becoming the exception.

For the same reason, a classic stock ledger and the Excel spreadsheet on the PC in the workshop are becoming obsolete for inventory management. Only specialised inventory management software can ensure dynamic asset management for companies in such a way that the amount of work involved in resource management does not become disproportionate. Cloud-based storage with an authorisation concept allows permanent work with the data inventory – independent of the work location of individual employees.

Maximise Professionalism and Minimise Costs With an Inventory Software

Simplifying inventory is only one aspect of inventory software like Timly. The inventory including all assets of a company ensures greater effectiveness and supports the principles of proper accounting. There is no longer a need to create multiple stocktaking lists. Application purposes such as the collection and bundling of information, planning of maintenance and necessary inspections, as well as the annual stocktaking of the inventory, ensure time savings and professionalism in the handling of work equipment.

Personal responsibilities and the availability of information “at the push of a button” reduce costs in the handling of resources. Inventory software such as Timly shows its strengths particularly in the annual financial statement, as the information required there is stored in the system on a daily basis. The inventory determined from this usually already corresponds to the result of the stocktaking.