The love/hate relationship with spreadsheets when it comes to asset management

eQuip! coexists with spreadsheets

In most companies we talked to, spreadsheets are the most common ways for them to keep track of their assets. But they all complain about using spreadsheets. In the meantime, they can’t live without them. So it’s a love/hate relationship.

The eQuip! asset management solution is a web based automated tool for asset management. Because we understand how this love/hate relationship works, we have made it very easy for eQuip! to coexist with spreadsheets. That’s why our customers love us!

First of all, why do companies complain about using spreadsheets for managing assets?

  1. Spreadsheet captures static information, while asset management is a continuous process. The two are fundamentally incompatible.
  2. Version control nightmare: you never know which version has the latest information, therefore how could you have access to the most updated asset data?
  3. Spreadsheets are great when you have only a few assets, and not a lot of movements with these assets. When you have more than a few assets, and you need to capture the asset move, the chain of custody, the additional costs incurred, and they are constantly changing, you begin to feel the frustration!

Second, why can’t companies live without spreadsheets even after they have deployed a web based automated asset management system?

  1. New asset information still comes in excel formats, such as a list of new purchases, new equipment on loan from other departments, etc. They need to be added to the asset database.
  2. New reports required for executive updates or reporting to other departments. They typically are in excel formats, contain only a few asset fields.
  3. New forms are required by oversight organizations, such as grant sources, audit teams. These forms can be most conveniently generated using excel sheet reports and converting them into PDF files.

So how does the eQuip! asset management solution coexist with spreadsheets? There are many more features that allow the eQuip! asset management solution coexist with spreadsheets.  Here are two examples:

  1. eQuip! can import and export data in excel sheets
  2. With Named Search, eQuip! can generate customized reports without any programming

Don’t forget to check out our new feature in our latest release — the “Get Started Wizard here. You can also visit us at  to find some latest knowledge articles on this features.

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