Did you know that around 7% of the U.S. Gross Domestic Product is tied up in inventory, accounts receivable, and accounts payable? This shocking quantity of capital amounts to $1.1 trillion in cash! When you consider how much a typical warehouse management system can decrease errors — up to 70% — as well as the added costs of managing government inventory, you might want to start considering what government software solutions are available.
Asset Tracking Solutions For Government Contractors and Agencies
When developing asset tracking software for governmental use cases, it is essential to have software built for the government from the ground up. Here are some necessary features for government software.
- Standardized Inventory Process
- Management Controls
- Automated Processes
- Needless File and Storage Reduction
- Automatic Government Form Generation
- Purchase Tracking
- Asset Location Tracking
The list could go on, but there are a few noteworthy processes in the ASTS inventory management system that require elaboration. The accountability system involves hand receipts at many levels. This allows for those with different credentials to access accordingly, but also leaves an automated hand receipt, like a digital signature, which allows for a trustless system. You will know who has input, accessed, or altered any data due to this feature. This security feature adds to the safety of the system, while the built-in automated government form generator streamlines the system for specific government use.
With purchase and location tracking, this system also gives knowledge of who is buying how much of which asset, and where that asset is located. Transparency, besides being convenient for finding assets, plays an important role in accountability. If your asset management system is locked down to the outside, but totally visible on the inside, every employee is connected in a social contract of visibility. You can see everyone’s orders and receipts, and they can see yours. This information is useful not only because it adds security and transparency, but because it saves costs in employee hours that might otherwise be used to locate this information in other inventory management systems.
When deciding upon government software for an asset management system, keep in mind that a specified system that was built for the government will function in the most secure and beneficial ways. ASTS will help you track smarter, securely saving money and time.