Why You Need to Upgrade Your School’s Asset Register Template

Updated: May 2021, August 2021, January 2022

Do you currently rely on spreadsheets to store your school’s data in an asset register template? Well, you’re not alone. Even though we live in a world full of exciting technologies, many school settings still depend on antiquated systems for essential tasks; including asset register templates. There are several reasons why you should consider ditching these error-vulnerable templates in favour of a more modern approach. In this guide, we’ll cover:

4 Pitfalls of Using Spreadsheets as an Asset Register Template

  1. They’re Unreliable

    Spreadsheets, as useful as they are for making quick calculations, can present all sorts of problems for your school’s asset register. For example, if you accidentally press the wrong key on your keyboard, you could wipe out essential data in the blink of an eye.

    It’s all too easy to make a copy-and-paste error and have entire rows or columns of data scattered with inaccuracies. In fact, research has shown that around 90% of spreadsheets contain errors.

  2. Limited User Access

    Only one person can edit a spreadsheet at any one time. This means that you either need to take complete ownership of your school’s asset register, or wait in line to edit it. If you do decide to let other stakeholders access it, this opens up the door for even more inaccuracies as they might input details in the wrong place, or accidentally delete something.

    The other disadvantage is that editing a spreadsheet is complex from a mobile device; realistically, you’d have to use your desktop device.

  3. Difficult to Maintain an Asset Register in Real-time

    Keeping spreadsheets up-to-date involves a lot of data inputting, calculations, and analysis. To get a complete overview of inventory in real-time, you’d have to make maintaining the asset register template your full-time job.

    If teachers across different departments are also updating the spreadsheet, this makes it even harder to keep track of assets. There’s no way of knowing when an update has been made, and an audit trail is non-existent.

  4. Limited Reporting Capability

    A spreadsheet doesn’t allow for detailed reporting, at least not without a few hours of tedious work to calculate an up-to-date inventory. Even then, you’re unlikely to be able to demonstrate how you’re utilising the school’s educational assets effectively or identifying opportunities for improvement.

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6 Ways Asset Management Software Can Enhance Your School’s Asset Register

Upgrading your old-fashioned asset register template to a more modern solution isn’t as costly as you’d think. You can actually save your school’s budget by investing in the right asset management software. While also being able to track and manage all of your assets much more efficiently.

Here a just a few benefits of using an asset management tool to create your school’s asset register:

  1. Increases Accuracy of Asset Data

    School asset management software allows you to replace your asset register template and capture a lot more additional details. Such as asset depreciation values, warranty and lease information, maintenance logs, and equipment check-in/check-out statuses.

    Moving to a cloud-based solution can also significantly improve data accuracy and security; data is much less likely to be accidentally deleted or lost as it’s backed up in the cloud.

  2. Saves Time

    Most software solutions allow you to upload data from an existing asset register template into your new system. Meaning you don’t need to re-enter information. Not only does this save time during installation, but you’ll also see major time-saving benefits once you’re up and running.

    With an asset management tool, you won’t need to keep manually checking the whereabouts of equipment as it’s moved around the school. Instead, you can utilise a tool’s asset tracking features. This lets you check-in/check-out equipment and resources by simply scanning a Barcode or RFID tag.

    Any changes to the asset data are also synced instantly in real-time. For example, if you take fifty textbooks out of the storeroom, you can scan them out, and see the updated quantities in your asset register when you next log into the system.

  3. Reduces Risk of Loss or Theft

    Knowing who has access to equipment and resources at any given time is crucial in reducing lost or stolen assets. Expensive equipment, such as tablets and PCs, can be labelled with anti-theft labelling solutions to improve security. A good asset management system will integrate easily with these deterrent labelling systems.

  4. Improves Accessibility

    Cloud-based asset management solutions allow you to access your data from anywhere at any time via a mobile device. Additionally, you can also have different logins for multiple users. This allows individual teachers to access the school’s asset register to update classroom stock levels. You are even able to check which teacher has made this change and when.

    As data is synced online, stock levels are automatically updated too. This gives a clear and accurate picture of the status of school assets.

  5. Supports Advanced Reporting

    Auditing becomes a much easier process once you have asset management tool in place. For instance, you can export data instantly to support the leadership team when making strategic decisions about assets going forwards.

    Another example, with custom reporting, is being able to quickly identify whether specific equipment is being under-utilised. You can then decide whether to sell it or return it if they’re on lease. You can also keep track of less tangible assets such as software licences and identify when they’re up for renewal.

  6. Saves Money

    Although purchasing school asset management software involves spending money, it can deliver a substantial return on investment. By keeping track of assets and identifying under-utilised equipment and resources, you can help your school prove its financial effectiveness.

    With his, you can check the school’s inventory levels and identify those assets being under-utilised before new ones are purchased.

How to Upgrade Your Asset Register Template Today

A software solution can drastically improve the asset management process in your educational setting. It enables you to hold an accurate, and up-to-date asset register, while providing effective asset tracking. In fact, there are many benefits to managing school assets with an asset management tool.

The right system can even indirectly support educational outcomes. For instance, teachers can confidently draw up lesson plans that involve specific equipment and resources. Safley in the knowledge that these assets will be readily available when needed.

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