The Warp It loan feature allows staff in an organisation to loan out their idle assets.
Traditionally, our system has been designed for the use of asset donation between apartments and organisations, and the loan feature works on a similar basis. The difference, in the case of the loan feature, is that items change hands, but they do not change ownership, then, after an agreed period of time, they pass back from the loanee to the owner.
What are some examples?
One way to see the loan system is like a hotel room. You can go and stay there, but it will never be your hotel room, even when you’re using it, it still belongs to the hotel.
This system is really use for businesses who have high value or exceptional equipment that only gets used one every couple of months. In the meantime, it could be being used elsewhere. One good example is laminators. They’re a useful piece of equipment to have, but they don’t get used very often, and so they sit in cupboards.
With the Warp It loan system, we’d suggest a method by which all of the organisation’s laminators would be stored together, and they can be booked out for use when needed. This will stop people from buying laminators when they don’t need them.
A department might have some desks that are just used for exams, or a cupboard full of computer cables, or even temporary laptops, or staff bicycles. Warp It can facilitate the loaning and asset tracking of them so that they get used, instead of procurement spending money to buy new ones.
Here’s how it works
- The administrator logs in and enables the loan feature
- The staff with idle items adds them to the system
- During the upload, it is specified whether the item is being loaned or given away.
- Other relevant details should be filled in, like condition, maintenance history, etc.
- Include a time frame for how long the item can be loaned for, and when it should be returned (see image below).
- The asset is uploaded and is now visible to anyone searching on the portal.
- The item can be booked out for a certain amount of time.
- The asset is either delivered or collected.
- When the item is approaching the return date, email notification reminders will begin.
Read the full guide to Warp It loans here.
That’s the feature, and it’s really going to be beneficial if you’re in a large organisation with assets that don’t get used as much as they could have, or were procured with the intention that they’d be shared around. Making use of assets as a collective gives them a much better return on investment and saves the procurement department a lot of time and money.