We know there are several businesses that heavily rely on types of equipment and assets in order to run their daily operations efficiently such as QSR businesses. That is why it is important to keep assets maintained. However, in these businesses, manual tracking methods are not effective, which is why asset management software is essential for Business. It provides several benefits to the QSR outlet. Although there are several businesses that utilize a spreadsheet in order to keep track of assets. but asset management software automates the essay tracking process and maintains accuracy as well. In this blog, we will know 5 reasons why QSR must-have asset management software in place. So let us begin!  

A big size QSR Business has several outlets, and each outlet has several pieces of equipment which is why it is important to keep track of every asset.  

Reasons why QSR Outlet must be equipped with Asset Management Software:

For accurate asset tracking

‍Asset tracking is one of the most required features especially when assets are moved from one place to another. We have seen several scenarios in which asset location is unknown due to the frequent movement of assets. However, with asset management software you can know the exact asset location with the asset movement feature. With this feature, you can keep track of assets when assets are moved from one place to another. In this way, asset theft and asset misplacement are minimized as well.

Maintain Asset register ‍

The asset register has a complete asset list. This asset register increases the visibility of assets. When you have lots of assets some assets are not used at all. With an asset register, you can know how frequently an asset is utilized. Sometimes assets are available in stock still organization purchases new ones due to insufficient information but with an asset register, you can know the exact asset available in stock numbers. Apart from this it is also helpful in asset tracking and keeping information on every asset. It has crucial details such as asset name, price, purchasing details, location current status.  

Perform preventive maintenance regularly‍

When you rely on your assets in order to run that when you rely on your asset in order to run your daily business efficiently it is important that you keep your asset maintained and track key performance indicators as well. in QSR restaurant businesses revenue is generated on a daily basis when customers consume the product and services of these outlets that is why it is important to keep your equipment in good condition and maintenance must be not neglected.  

Preventive maintenance is one of the most utilized maintenance types. It helps in optimizing asset availability and decreases minimum maintenance costs. Undoubtedly, it is one of the most cost-effective maintenance types in order to avoid unexpected asset breakdown. You can create a checklist in each work order so that the occurring issue is resolved accordingly. It is also helpful to technicians as it saves time. If QSR business provides scheduled preventive maintenance then equipment failure chances are minimized, and maintenance expenses decrease automatically.  

Utilize helpdesk management‍

It is also known by other names such as complaint management, ticketing management, breakdown management, etc. Helpdesk management is useful when assets have some performance issues or suddenly equipment stops working. In this process, the ticket is raised and assigned to the technician and at the same time technician is notified. Asset management software enables managers to check the status of every ticket.  

In order to understand the ticket issue coming in asset the end user can upload photos and video files for better understanding. The manager can record the repairs done, expenses, and spares consumed. To improve productivity, a data filter is also available. The manager can filter tickets based on technicians, and dates. This software enables you to set the priority of every ticket so that productive work can be delivered. There are frequent asset performance issues that occur in QSR businesses as these assets work continuously for a long duration. That is why key performance indicators are checked  

Fast & effective Asset audit procedure

‍It is important for every business to perform an asset audit. It is an inevitable activity that is performed every financial year-end. Asset auditing usually is a long process as you have to verify assets and their documents as well. After that depreciation calculation is done so that the actual value of an asset is calculated as it is helpful in calculating the overall worth value of assets. In depreciation, calculation accuracy is very important. However, with asset management software you can perform asset audits effectively and verify all assets easily. Furthermore, this software is equipped with depreciation calculation methods therefore you do not have to depreciate manually. For QSR businesses' asset verification and performing Asset audits, it's simplified with this software.  

Conclusion‍

These are a few of the major benefits of Asset management software a QSR business can achieve. Overall, it is helpful in increasing return on investment (ROI). Moreover, this software is also helpful in maintaining compliance as you get the complete asset list and perform audits easily and effectively.

Frequently Asked Questions (FAQs)

Q1. Does this software come with cloud technology?

Answer: Yes, this software comes with cloud technology enabling you to access data from anywhere across the world. It gives you the flexibility to work from anywhere and you are not bound to your workstation. Furthermore, data security is also there, meaning you do not have to worry about data theft, and it is kept in encrypted form.

Q2. What are ghost assets?

Answer: Ghost assets are those assets which are mentioned in the accounts book, but they are not available physically. They are either stolen, misplaced or lost but you are paying taxes for these assets.

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