You can manage and track assets in your Firmhouse project so that you can keep a realtime overview of which unique physical products are currently in use by your customers.
Where you would use Product and SKUs to define pricing, the Asset is the representation of the actual unique physical product that is either in your warehouse, or in use in your customer's home or business. An asset usually has a very unique ID, QR code, or barcode so that you can identify it from other assets.
For lease, rental, and Product as a Service business models, tracking assets is very important. For example, tracking assets allows you to:
- Report on depreciation or revenue earned per individual asset from the moment they were first put in use. Start reporting on Asset Lifetime Value in addition to Customer Lifetime Value.
- Keep track of who currently owns an asset and when it will be returned at the end of the rental or lease period. Or if the asset is in stock and ready to be used by a new customer.
- Register the state of an asset. For example any damages or when an asset would need to be serviced or repaired.
- Organise refurbishment and reservation flows. So that you can plan when an asset will be returned by an existing customer, and can be made available as available stock for a future customer.
In this section
Custom asset fields