When tracking your ATM cash machines, you cannot go wrong. Because they contain money, ATM cash machines are always on the target of antisocial elements who won’t let an opportunity to make easy money pass them by. A stolen or misplaced ATM cash machine could mean a loss of hundreds of thousands of dollars. Managing ATM cash machines can be an overwhelming task. To make important maintenance and asset replacement decisions, your managers need an inventory management solution that can not only generate data but can also help convert it into actionable insights. QR codes do exactly that.
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Originally used by the automotive industry, QR codes can be found almost everywhere, including magazines, newspapers, and advertisement flyers. QR codes can do more than just help track assets. Over the years, businesses have started using QR codes to come up with innovative ways to market their products and services. Many QR asset tags contain web address information and links and can also be used to direct users to different media such as videos and images.
Considered as an extension of barcodes, QR codes or Quick Response codes include black squares that are arranged in a square grid. QR codes are two-dimensional and use different encoding modes to store data related to the asset. Every QR code includes a white background that can be scanned using an imaging device. When a user scans a QR code asset label, their smartphone translates the data received from the system into a language that can be understood by humans.
Some benefits of QR codes
- Superior data storage capacity
- Ease of use
- Affordability (both QR code readers and generators are usually offered free of cost)
- Easy to track
Steps in asset tagging your ATM cash machines using QR codes
To use QR codes for inventory management, you first need to tag your assets. Below are the steps to asset tagging.
1. Identify the asset type and category
If you’re already using an asset tagging software, you must have already set up a classification system or schema for assets. If, however, you’re implementing an asset tracking system for the first time, you must create a categorization system to ensure consistency.
For easy reporting and hassle-free integration, choose a method that aligns with the process used to categorize assets for accounting purposes.
2. Assign every machine a unique identification number
After identifying the asset type and category, you need to assign every ATM cash machine a unique identification number that distinguishes it from other machines, which helps simplify different processes related to maintenance, recording, and accounting. Make sure every unique identification code includes a prefix that helps identify the team that owns the machines.
3. Create your QR codes
To create QR codes for your ATM cash machines, visit the website of a QR code generator. Once you’re on the provider’s website, decide the type of content that you want your QR asset tags to include. Next, enter information related to the asset you want to tag. To ensure you can edit data when the need arises, consider downloading a dynamic QR code. When printing codes, avoid common printing mistakes such as using an inappropriate image size or materials that reflect too much light. After printing the codes, remember to test them to ensure that they read correctly.
4. Enter the information related to your ATMs into your asset tracking system
After generating QR codes for your ATM cash machines, enter data related to them, such as their unique identification number, serial number, date of acquisition asset value, and status into the asset tracking system.
5. Affix the QR codes to the ATMs
Attachment method will depend on the quality and type of QR asset tag you’re using. While some tags use pressure sensitive adhesives, others include mechanical attachments. Some QR codes allow the user to use both the methods. Before starting to affix QR codes to your ATMs, clean the surface thoroughly. Be very careful with the placement of your QR asset tags, ensuring that your team members do not have to get into an awkward position that stresses different parts of the body when scanning the codes.
Once you have affixed the QR codes to your ATMs, do not disturb them for at least 48 hours (in some cases up to 72 hours). During this period, you also need to take steps to minimize exposure to the elements. Once the labels grip the surface of the ATMs firmly, you can start scanning them.