What’s the key to lending out equipment? Ah, yes… being sure it gets properly returned. But getting it returned hinges on knowing who has it and since when. Since an hour ago? Yesterday? A week? What is that equipment doing out there and who is doing that with it. It’s what in police work, they might call establishing the “chain of custody.” Who had the item, when, for how long, and why.
And with CHEQROOM’s new “custody” feature, you and anyone who checks out the equipment in your inventory can do this, on the web, seamlessly, and integrated with all other features and services on CHEQROOM.
Custody in a nutshell
What is custody, exactly? Custody, in the full way of understanding it, is the possessing something in a way that can be verified and is known to everyone. Without custody, anytime anyone would borrow something, it could be lost or stolen without anyone being able to be sure, and then no one would be able to lend goods or get credit for having returned them. Another way to understand it is that Custody covers the way you can transfer something to someone in a way that everyone accepts responsibility for it. If you loan a book to your friend, you shake hands and you agree. And then if he or she has to loan it to someone else, he lets you know. So the custody of the item is always known, and the chain is clear.
Doing this with one person or two is easy and you can keep track of it all in your head. But try doing it with dozens or hundreds of items and people. You’re going to need help with that. To help you establish a clear chain of custody for your valuable assets, CHEQROOM worked to develop the Custody feature.
Why did we develop this brand new feature?
At CHEQROOM, we were finding that a lot of the time, when an item is out on loan for a long time, sometimes it will need to be transferred from one person to another while it’s still out in the field, and before it’s returned home. In this kind of a situation, it’s not always easy to keep track of who gave what to whom, why and when. And so, while you’re looking out for your valuable equipment of your inventory, you might not be able to reach the right person at the right time to check in on it. Or, if something should go missing or get damaged, you won’t know to whom to speak about it. This changes it from a bureaucratic headache to a real nasty disagreement. That takes time and money, and no one benefits from it.
To help track equipment that’s already out, and establish a clear, authoritative history of any item’s possession, CHEQROOM developed the Custody feature so that items can be transferred from one borrower to another and keep things clear for everyone.
Want to try it out yourself?
The Custody feature can help you keep a closer, more precise watch over your valuable assets, and integrate it all with the rest of the CHEQROOM features you already know and use!
Get in touch with us today and request a demo. We will be happy to help you!