How Signellent Helped a Co-Living Giant Gain Control Over Thousands of Assets

Customer Background

A leading co-living and student housing company, faced significant challenges in managing its extensive inventory of assets, including furniture and electronics. The company experienced asset theft and a lack of visibility into its inventory across multiple properties. To address these issues, they partnered with Signellent to deploy a comprehensive asset tagging solution, enabling complete inventory visibility, improved asset depreciation, and enhanced loss prevention.

The Challenge

With hundreds of properties and thousands of assets, customer struggled with two primary issues:

1. Asset Theft: Assets were frequently taken from co-living spaces by residents, leading to unaccounted losses and financial strain. Without a proper tracking system, it was nearly impossible to identify missing items or the individuals responsible.

2. Inventory Management: The company lacked a centralized system to track assets. They had no real-time data on what assets they owned, where they were located, or their current condition. This made inventory auditing a tedious, manual process and hindered strategic planning for future purchases.

The Solution

Signellent deployed a tailored asset tagging solution across more than 100 customer properties. The implementation involved a two-pronged approach:

· Metal Flexi Tags: These robust tags were applied to high-value electronic assets like air conditioners, geysers, and refrigerators, designed to withstand the harsh environmental conditions these appliances often face.

· Non-Metal Tags: For furniture and other non-metallic items like tables and chairs, non-metal tags were used to ensure discreet and secure identification.

Every asset was meticulously tagged and the data including the type of asset (Furniture or Electronic) and its generic name (bed, sofa, TV) was recorded and provided customer, creating a comprehensive digital inventory.

The Results

The asset tagging solution transformed the Co-Living Giant’s asset management capabilities, delivering measurable results:

· Real-time Asset Visibility: The Co-Living Giant gained a clear, real-time view of its entire asset portfolio, knowing exactly what assets were at which property, in which city and state.

· Accurate Depreciation and Auditing: Through the quarterly audits conducted by Signellent, the Co-Living Giant could accurately assess the condition of their assets, identify those that were damaged or stolen, and correctly depreciate them on their books.

· Strategic Procurement: With precise data on their current inventory and losses, the Co-Living Giant was able to make informed decisions about future asset purchases, ensuring they only bought what was truly needed.

· Enhanced Loss Prevention: The system provided a clear trail for assets that were no longer on-site, helping the Co-Living Giant find and hold accountable the people responsible for the asset theft.