Efficient Asset Management with Shelf’s New “Signed Custody” Feature

In the dynamic environment of asset management, accountability and flexibility are important. Shelf introduces an innovative solution that simplifies the dispatching process for company assets while ensuring compliance and transparency: the “Signed Custody” feature.

Efficient Asset Management with Shelf’s New “Signed Custody” Feature
Written by
Carlos Virreira
Published on
December 27, 2023

In the dynamic environment of asset management, accountability and flexibility are important. Shelf introduces an innovative solution that simplifies the dispatching process for company assets while ensuring compliance and transparency: the “Signed Custody” feature.

How It Works

When an asset manager needs to assign a company asset to a team member for long-term use, the process is now streamlined with Shelf's system. Here’s how:

  • Selection: The asset manager selects the asset within Shelf’s system and chooses a custodian from the team members.
  • Template Addition: The manager has the option to add a PDF template, which can be any document relevant to the asset's custody—be it a responsibility agreement, a terms-of-use policy, or any other pertinent file.
  • Signature Requirement: Before the asset is officially assigned, the selected custodian is prompted to sign the attached document. Shelf renders the PDF and provides a checkbox for the user to acknowledge and leave their signature.

Why It’s Necessary

The “Signed Custody” feature addresses several critical needs:

  • Accountability: It ensures that both the asset manager and the custodian are aware of and agree to the terms of the asset’s use.
  • Legal Compliance: The signature requirement adds a layer of legal compliance, as signed documents are often required for internal audits or regulatory purposes.
  • Record Keeping: The system automatically retains records of all signed agreements, simplifying record keeping and retrieval.

When to Use the Feature

This feature is particularly useful when:

  • Assets are of high value or sensitive nature and require formal acknowledgment of custody.
  • There’s a need for clear terms of use and responsibilities to be communicated and agreed upon.
  • The company requires a legal trail for the asset's custody history.

Benefits

  • Flexibility: Administrators can upload any type of PDF document to serve as a template.
  • Ease of Use: Shelf’s interface makes it simple for managers and custodians to complete the process without extensive training.
  • Traceability: With the signed document, the asset's custody chain remains transparent and traceable.

Feature Statuses

With the “Signed Custody” feature, assets will have statuses to inform all team members of their availability:

  • Waiting for Signature: The asset is available, but flagged to show it’s pending a signature.
  • Signed and In Custody: Once signed, the asset becomes unavailable for booking, indicating it’s under the long-term custody of an individual.

Switch to non-signed custody? The process can be reset by releasing custody, removing the need for a signature, and making the asset available again.

Conclusion

The “Signed Custody” feature by Shelf brings a new level of efficiency and security to asset management. By integrating a simple signature process, it enables organizations to maintain control over their assets with greater ease and assurance.

Article by
Carlos Virreira

Founder / Vision Lead at Shelf.nu

Table of contents
Efficient Asset Management with Shelf’s New “Signed Custody” Feature
Carlos Virreira
Co-Founder Shelf

Founder / Vision Lead at Shelf.nu

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