By Matt Krumrie, contributing editor for APOM

Today's office workers need all of the latest gadgets to do their jobs. Employees use electronic security cards, cell phones, portable computers, digital cameras, LCD projectors, and much more. All of those gadgets can add up to hundreds and often even thousands of dollars per employee — and it's up to you, the office manager, to know exactly who has control of each gadget at any one time.

The good news is that today's technology can make tracking your company's assets both easier and more efficient. This article gives you some useful information about that process, and provides guidance about exactly what kinds of information to track. There are also suggestions about creating an asset management policy to help your employees understand their responsibility for company equipment.

What information to track

When you issue equipment to your employees, make sure to record the answers to the following questions:

• What equipment are you issuing? (Include model and serial number.)
• Who are you issuing the equipment to?
• Why are you issuing the equipment to this employee?
• Where is the equipment located when issued? (And where is it to be used?)
• When are you issuing the equipment? (And — especially if the equipment is issued for temporary use — when is the employee to return it?)

How to track the information

Using technology can make the whole asset-tracking process easier and much more accurate.

Here are some examples of solutions that you might find useful:

• Labels or bar codes  Use them to aid in identifying equipment.
• Public folders in your e-mail system  Use them to reserve use of shared equipment.
• Database program  Use it to maintain records of who has what. Using database software, you can:
  • Track equipment as it is issued, maintained, and returned.
  • Track supply usage, and optimize the ordering of supplies. (This capability can be particularly useful in supplying employees who telecommute.)

Choosing asset-tracking software

Considerations include how many assets you want to track, how complex your requirements are for viewing and reporting the data in your database, and how comfortable you are with customizing the database yourself.

Spreadsheet programs  If you don't have a large number of assets to track, and if you don't require any very complex manipulation of data and reporting, you can use a spreadsheet program such as Microsoft Office Excel 2003 to record asset assignments.

Relational databases  If you do have a large number of assets to track, or if you want increased power and flexibility in your tracking and reporting, it might be worth your while to acquire a relational database program such as Microsoft Office Access 2003 and customize it for your specific needs.

Third-party asset-tracking programs  If you want all the power of a relational database, but don't want to spend much time and energy customizing one, then consider investing in one of the programs already available on the market that are designed specifically for asset tracking.

Start with a policy

Whenever you assign equipment to an employee, certain questions arise. For example, what do you do if an employee breaks their assigned PDA? Does the company bear the entire cost of the replacement, or does the employee cover some or all of that cost?

These can be thorny issues, and it's important to answer them clearly. It's a good idea to create a policy statement that answers the following questions:

• Who has the authority to sign equipment in and out?
• What are the proper procedures for signing equipment in and out?
• Are sign-in and sign-out procedures the same for both temporary assignments of equipment and permanent ones?
• Who is responsible for equipment supplies and equipment maintenance?
• Can the employee use assigned company equipment for personal purposes? (If so, identify any reimbursement costs for which the employee is responsible.)
• What is the employee's responsibility for turning in assigned equipment upon termination of employment? (Clearly detail the consequences of not doing so — for example, withholding of the final paycheck.)
• Who is responsible for replacing lost, stolen, or broken equipment? (Many employers find that making employees responsible for a portion of replacement costs encourages them to handle equipment more carefully.)

Conclusion

Accurate management of office assets and equipment is of critical importance to your company's bottom line. By using the information in this article, and by selecting a technical solution that works for your office, you can ensure that your office gadgets are always present and accounted for.

About the author   Matt Krumrie is a contributing editor for OfficeOurs, the magazine of the Association of Professional Office Managers (APOM). Krumrie is a Twin Cities–based freelance writer who covers workplace topics, employment, and business for the Minneapolis Star Tribune, APOM, Monster.com, and Upsize Minnesota Magazine.