What is Asset Tracking Software? (and Why You Need to Use it in 2017)

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Have you ever wonder what it takes to bring Times Square to life on New Year’s Eve? The management necessary to organize the ball drop or the logistics of putting together a fireworks display?

All of this and more requires a team of professionals who work tirelessly to bring you the best experiences possible from the guests, sponsors, and spectators to the grandeur, props, right-on-time moments, and let’s not forget the ‘It’ factor.

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I’ve listed some of the major problems facing event managers, the benefits of asset tracking software for event management, and how different these easy-to-use features will help you organize jaw-dropping events come 2017.

The Importance of Event Management

Event management is a fast-paced, fluctuating, and unpredictable field. Even in times of financial hardship, events are a foolproof approach for building brand awareness, driving consumer certainty and providing memorable experiences.

There is no greater feeling in business than building a product which impacts people’s lives in a profound way. When we look around at the thousands of people who have attended Summit gatherings, it makes us smile to see the new friendships, business partnerships and philanthropic initiatives that each event produces

Elliott Bisnow, Founder Summit.

After a rocky 2016, the pressure is building for an awesome New Year’s Eve blowout to send this year packing. Some of the biggest celebrations take place in Times Square, New York City parks, Sydney Harbour, London City Hall, and practically every other major venue in the world. Very few will spend their evening at home with their two cats, watching romantic comedies when a night of fantastical festivities awaits.

It’s no secret that organizing these events isn’t easy and take a lot of hard work, well-planned management, and the right tools to get you prepared.

Read More: Olympics and Supply Chain Management

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Managing event equipment is a daunting task. Finding replacements for faulty equipment, adjusting for vendor time delays, and making sure every light bulb and screw is in place requires your full attention and organization. Asset tracking software helps you manage these difficulties into workable solutions for your event.

Read More: 20 things event planners say they will manage on their own

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Why use Asset Tracking Software?

When planning your event, it is important to plan out how you’ll use your technical equipment—for example, do you need the audio kits for the conference, or the projection gear for the seminar? Asset tracking software will help you organize your equipment, list the locations of said equipment, as well as keep track of where said equipment is coming from and where it is going.

If you fail to do so, this can cause devastating effects on your brand value by event guests. As one survey showed, a poorly managed event was the most common frustration for people when attending off-site meetings or conferences.

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Read More: Event Planning Mistakes

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A CMMS module will ensure your event services are always reliable, and on-the-go mobile apps for QR code and barcode scanning will ensure instant updates from the event location. These tools are helpful when managing big events such as New Year’s Eve, music concerts, Black Friday sales, product launches, and award functions.

Necessary Features for Asset Tracking Software

Event managers have lot’s to organize when bringing hundreds of people together for New Years. They keep track of everything from purchasing to production and everything in between.

I have made a list of features that an efficient equipment tracking software must have and how they can benefit in making an event create experience for life.

1. Cart Management

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Big events require checkouts for multiple items. The cart module in an asset tracking software helps you stay on top of your equipment purchases and rentals. With this feature, you mark these jobs and events on your calendar, manage a list of required equipment and inventory, collaborate over needed equipment as a team, and much more.

Say you are planning a big fireworks display, which requires the transfer of large numbers of fireworks to the venue at least eight hours before the main event. You also require safety nets, bin bags, and cling films. Per this scenario, you’ll be adding items in the cart such as display units, pack of 200 fireworks, and a bundled kit of safety nets, bin bags, and cling films. Efficient cart management enables you to add last minute asset or inventory.

2. Supercharged Reservations

Similar to flooding your social networking accounts, facilitating an excessive number of events at a time negatively influences your event turnout.

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While you need to give your potential attendees the opportunity to attend one of your events, it is important to find the right number of annual events. New Year’s Eve is all about the countless events happening simultaneously in several different locations.

Stay on top of every event with the use of a reservations module and plan all future events with no conflicts in attendee availability.

3. Service and Maintenance Management

At a recent event, I worked with some organizations closely where high-end equipment was employed for daily operations and nothing set our events back more than faulty equipment.

No one wants equipment malfunctions when the clock is running and everyone is waiting for the show to begin. For event managers it is all about creating a spark that gives audiences a memorable experience—you can also call it the “perfectionist’s streak.”

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Preventive maintenance saves time and money as well as increases the efficiency of hosting an event. A service and maintenance module gives businesses the ability to track the unavailability of assets under maintenance, as well as the service costs over an equipment’s lifetime. Use an asset tracking software to reduce downtimes and enhance the way your event management company measures predictive and preventive maintenance.

4. Employee and Volunteer Management

Volunteers and event organizers are important to almost any event. They ease the load of work to be done, however if the collaboration is weak, your event may end up as a disaster. For example, if two organizers have are accidentally assigned to the same event, this leaves less staff to run other simultaneous events.

Everything from asset assignment to event setup are easily delegated to a willing volunteer or member of your event management company. Events require many different teams to come together, often under several external departments.

Successful events depend on every organizational unit and every team member doing their job to the fullest while enhancing team collaboration. Asset tracking software provides this organization and more under an employee management module.

5. Document Management

Seriously, if you are still using paper sheets and clipboards for organizing events, I would suggest you to throw them all out. Now.

Software enables you to record unlimited and all types of documents on the cloud and use them whenever you require, so why not record all these documents and not waste paper AT ALL?

It’s time to embrace the future of digital document management. Paper-based systems are inefficient, wasteful, and far more prone to error. The closest your event should come to paper for event attendee management is paper name tags and print labels for quick checkouts and asset addition.

6. Vendor Management

It is common among event planners not to follow up with their vendors. One reason for this is the lack of organization time during the busiest season of the year, I.E. New Year’s Eve. This creates a mess when organizers are relying on vendors and expecting timely deliveries on event day.

The responsibility of delivery lies with vendors, but it is still important for event managers to follow up and keep track of all interactions. Having a strong collaboration with your vendors is one of most important responsibilities of an event manager.

Vendor management enables you to track vendors for procurement. Vendors who provide maintenance and equipment servicing can also be tracked for all their maintenance records, type of servicing, durations and costs incurred.

What else?

There’s more to asset tracking software than you would expect. It enables you to integrate with other systems with the help of REST-based APIs, stay on top of business events, and generate email alerts to ensure accurate equipment orders and tracking.

Recommended Asset Tracking Software

How do you plan on making New Year’s Eve 2017 better and more awesome? Or any other event in general? According to Statista, the value of the event management software (EMS) market worldwide, from 2015 to 2020 is worth 5.8 billion U.S. dollars and in 2016, the security intelligence and event management market is predicted to generate over 2 billion U.S. dollars in revenue. This is why it is so important to manage your events seamlessly.

Be sure to try one of these apps listed below which are known to be the best for event equipment tracking and management:

  1. EZOfficeInventory – Asset tracking software built for events

E-ticketing and event registration businesses have their task cut out for them. EZOfficeInventory enables them to manage event equipment, ensure everything goes according to plan, and pull off events without a hitch!

  1. Stitch Labs – For simple inventory management

Stitch Labs is a leading inventory management platform fulfilling purchase orders, and providing retailers with greater visibility, work efficiency, and control across their event management business.

  1. Netsuite – Inventory management for event planning

Netsuite’s cloud-integrated solution enables business access real-time inventory visibility and complete procurement to tracking event equipment management.

Read More: List of apps for event and wedding planners | Free Live stream tools for events

Conclusion

Have you used any of the asset tracking software options above? Are there any others you would recommend? Let us know in the comment section below!

Looking for Event Management software? Check out Capterra's list of the best Event Management software solutions.

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About the Author

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Kiran Ajaz

works as a technical writer for EZOfficeInventory. An MBA graduate with a major in finance, she also handles a couple of blogs. An accidental blogger, shopaholic, and on a continuous look-out for adventures. Follow her on Twitter.

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