After implementing any new process or solution, it’s always a good idea to measure the impact it has on your organization. Below are a few baseline metrics we suggest you track prior to implementing a surplus management software solution. Tracking these metrics and others will allow you to compare performance before and after implementation, gaining a better understanding of your return-on-investment (ROI).
Time it takes to receive an item into your surplus inventory
(may include applying an asset tag, entering the item into your inventory records, taking photos for promotion)
Time it takes to conduct a physical inventory of your surplus property warehouse and storage facilities
Surplus Asset Sales
Time it takes to prepare assets for auction, creating and tagging lots
Time it takes to reconcile all live auction sales
Time it takes to post an item, including photos, on an online auction website
Time it takes to reconcile all online auction sales
Number, average value and total value of online auction sales
Number, average value and total value of all surplus asset sales
Reporting / Accounting
Time it takes to reconcile sales information
Time spent preparing reports for other departments (accounting) and systems (ERP)
Please note, this list is not comprehensive and is meant to serve as a starting point for thinking about how a surplus management software solution might improve the efficiency of your surplus organization. Additionally, some of these suggested metrics may be more or less relevant depending on the functionality of the solution you plan to implement.