Easily Shortlist & Compare Asset Tracking Software

What Is Asset Tracking Software?

Asset Tracking Software is a digital system that tags and monitors physical assets, used by organisations managing high volumes of equipment, tools, IT hardware, vehicles, and inventory across multiple sites, to record each asset's location, condition, and status in real time within one accurate asset register.

Asset Tracking Software replaces spreadsheets and manual stock checks with a single source of truth, so teams always know what they own, where it is, who is using it, and when it needs maintenance. Assets are tagged with barcodes, QR codes, RFID, GPS, NFC or Bluetooth, then scanned to update their records automatically.

For Comparesoft's buyers, the top reasons for implementing an asset tracking system are tracking asset location and status (24%), building a centralised asset register (19%), and reducing the cost of lost or stolen assets (14%). Features like smartphone scanners, real-time mapping, mobile management, and location-driven workflows turn that into measurable results:

• Sharper inventory accuracy you can rely on
• Far less time lost to manual tracking and stocktake
• Ghost assets identified and cleared from your register
• Cleaner asset data with fewer recording errors
• Lower loss and theft costs, with a strong return on investment

Best Asset Tracking Software Systems on Comparesoft

Best Free Asset Tracking Software Solutions

The strongest free Asset Tracking Software options include Snipe-IT, AssetTiger, Sortly, and GLPI. Snipe-IT is open-source and free to self-host with no restrictions on users, assets, or features, and GLPI offers a similar open-source model, making both a good fit for IT teams comfortable managing their own hosting. AssetTiger provides a hosted free tier for up to 250 assets, while Sortly offers a free plan for up to 100 items with barcode and QR code scanning.

Free tools suit small registers and early-stage tracking, replacing spreadsheets at no cost. Their limits appear as asset volume grows: capped assets and users, fewer integrations, limited reporting, and little vendor support. Most paid vendors also restrict free plans to fewer than 250 assets, so growing teams usually move to a paid system to scale tracking across multiple sites.

Compare Best Asset Tracking Software Systems

The best Asset Tracking Software systems on Comparesoft consist of Ubisense, itemit, Timly, EZO, Assettrac, Tec-RFID, and Wasp AssetCloud. Each solution suits a different asset profile, from small teams replacing spreadsheets to enterprises tracking thousands of assets across multiple sites, based on asset volume, tracking technology, and price, with entry costs ranging from £21 per month to £20,000 per project.

How Much Does Asset Tracking Software Cost?

The total cost of ownership (TCO) for cloud-based Asset Tracking Software ranges between £5,000 and £50,000. This depends on multiple upfront and ongoing costs, including:

• Number of assets being tracked
• Number of users/software licenses required
• Desired features/requirements such as mobile app access and platform integrations
• Hardware required, such as tags, labels, scanners, and readers
• Implementation fees for configuration, data migration, and further training
• Ongoing maintenance and support
• Customisation of tags, labels, dashboards, and the platform

Below is an example breakdown of the average TCO costs for cloud-based asset tracking systems. Keep in mind, the more assets you track, the higher the TCO.

In terms of ROI, 74% of businesses that deployed Asset Tracking Software saw a positive return on investment. ROI metrics include a 30% reduction in time spent on manual asset management tasks and a 50% reduction in the amount of lost or stolen assets.

11 Stand-out Features of Asset Tracking Software

1. Accurate Location & Status Tracking

Asset tracking systems provide the capability to track and monitor the status and locations of assets in real-time. Using asset tags, users can identify the whereabouts of equipment at any given time.

Location tracking data can be displayed on a map or a floor plan and shows the tracking of moveable assets (like vehicles equipped with GPS trackers) and static assets (like warehouse stock equipped with Barcodes or QR codes). This can also work with third-party mapping and GIS integrations.

2. Real-time and Historical Data Access

Cloud-based Asset Tracking Software tools enable users to view, update, and export data at any time. That means when equipment information is updated on one device, it is instantly updated and readily available across the entire system – something that is limited when using spreadsheets or pen and paper.

Alongside access to instant data, is the ability to access an asset’s historical data profile. That includes original purchase dates, depreciation values, maintenance history, user history, location history, and more.

3. Barcode and QR Code Asset Tagging

The use of barcodes and QR codes to tag equipment is the cornerstone of successful asset-tracking workflows. These tags are printed—either at the workplace or with a provider—and attached to assets such as inventory and tools. They are then scanned with handheld or mobile devices, and an asset’s metadata is sent back to the asset tracking system.

4. RFID/NFC Integration

RFID tags (passive, semi-passive, or active) are attached to assets and used in environments with large amounts of equipment or inventory, like warehouses. These tags work by sending and receiving radio waves to transmit asset data to an Asset Tracking Software system. RFID asset tracking integration has seen huge success, with businesses reporting a jump in inventory accuracy from 63% to 95%.

5. GPS Geofencing

GPS trackers and geofencing tools enable alert systems to be put in place when assets cross set boundaries or zones. This can be used to great success with vehicles and off-site operations in industries such as construction or logistics.

6. Push Notifications

Asset tracking systems can be set up to notify users when certain thresholds are reached. Notifications regarding stock levels, changes in location, expired warranties, or planned maintenance are sent to mobile devices and desktops. This feature helps reduce unexpected stock shortages and overstocking.

7. Third-party Integration

Through the use of APIs, most Asset Tracking Software systems can be integrated with various tech stacks and third-party tools, including ERP and CRM systems. Integration capabilities enable organisations to have a seamless flow of data and information. Meaning that instead of switching between tools to find certain data, it is all consolidated in one single source of truth.

8. Mobile App

A cloud-based asset tracking system provides offline capabilities, meaning when data is input or updated on one device (like a desktop at the office) it syncs automatically on other devices (like a smartphone when in the field). Offline capabilities empower mobile management through a dedicated app and log-in, allowing users to see asset locations, quantity, and other data from anywhere at any time.

9. Check-in Check-out Equipment Booking

Asset Tracking Software allows users to easily reserve, book, and check out equipment. As well as see availability and receive alerts when equipment is ready. Checkout systems are run seamlessly with smartphone scanners and barcodes or QR codes. Users can book equipment in advance, reducing the risks of double booking for projects. It also makes it easier for businesses to follow up on overdue returns and display what items are available.

10. Asset Management Profiling

Asset Tracking Software enables businesses to go beyond tracking capabilities and encourage asset management features. These help to build out an asset’s profile by capturing data on purchase value, depreciation, maintenance schedules, warranty information, and life cycle management.

11. Bespoke Systems

Most Asset Tracking Software tools are built with customisation in mind, allowing for bespoke systems that suit the requirements of different companies. This is handy as, for example, a brick-and-mortar retail store would have different tracking requirements from that of a healthcare facility. Tailored features and capabilities include:

• Third-party integrations
• Combinations of asset tags and scanners
• Custom system dashboards and analytics views
• Custom data reporting options

What Are the Benefits of Asset Tracking Software?

Reduce Theft and Loss With Real-time Location Tracking

Through the use of beacons, tags, and labels, businesses can take advantage of real-time asset location monitoring to reduce the loss of expensive assets. The most common physical asset loss is due to theft and misplacement. Due to a lack of real-time equipment visibility, job site theft costs the construction industry $1 billion each year.

Improve Asset Visibility With Accurate Asset Register and Detailed Inventory Lists

An asset register is a detailed list of all equipment, tools, vehicles, and inventory that a business owns. It is compiled of data about each individual asset including purchase date, price, condition, and location. An asset register features a search function that allows users to quickly and easily search for particular assets or locations. For example, a site manager can see what tools and equipment are readily available for a project before arriving at the site.

In terms of greater asset visibility, Asset Tracking Software also enables businesses to create equipment and inventory lists from one central resource, instead of searching multiple spreadsheets to see the location or quantity of available assets.

Organise Assets Based on Category, Location, Quantity, and Condition

Within an asset tracking system, each asset has a unique data profile. That includes name, serial number, location, user, quantity, type, condition, and more. This data is easily organised at the click of a button, allowing users to see what assets are available at certain locations and the quantity of a certain asset type. There’s also the option of attaching media to an asset’s profile (like images and videos) to show an asset’s condition in real-time.

Tailor Hardware & Software Combinations To Your Needs

Depending on your asset tracking requirements, software vendors can tailor a system that works for you. Combinations include tags (barcodes, NFC tags, RFID tags, GPS trackers, and more), scanners (fixed, embedded, separate, smartphone, etc.), and third-party integrations. Some vendors supply scanners and tags at no extra cost with the option of custom-designed tags and labels.

Replace Spreadsheets and Reduce Human Error

Spreadsheets are a good tool when first starting to track your asset data. But, as your business grows, so does the number of your fixed and movable assets, making spreadsheets unmanageable when it comes to recording accurate asset data. They’re also tough to share between team members, lack advanced features, and are susceptible to errors (88% of spreadsheets contain at least one error).

This is where cloud-based Asset Tracking Software surpasses spreadsheets (and why 90% of software buyers prefer it). A dedicated asset tracking system provides features that take asset tracking capabilities beyond the use of spreadsheets. Features include customisable fields, real-time updates to inventory levels, attachments for images, manuals and warranties, as well as an organised trail of historical data.

Create Asset Workflows and Understand Asset Relationships

An asset tracking system's ability to draw on real-time data contributes to two key workflows; asset status-driven and asset location-driven.

• Asset status-driven workflows: Asset status data initiates workflows such as determining the availability of leasing/rental equipment and asset management data like lifecycle management or asset maintenance activities.
• Asset location-driven workflows: Location data prompts workflows such as tracking down missing assets and locating the right equipment needed for projects.

Having your asset tracking data in one centralised dashboard gives an opportunity to identify and better understand asset relationships. These relationships can be between items and users, assets and locations, users and locations, and more.

Without an asset tracking system, data would be spread across multiple resources (or not tracked at all), meaning these relationships would go unnoticed. Meanwhile, with an asset management solution, assets are mapped and displayed for all users to see.

Set Customised Alerts for Stock and Inventory

By combining asset tagging tools with an asset register, businesses can set custom triggers for inventory levels. These can be notifications or alerts that are sent to a mobile device with the most productive use of this being for stock control.

Asset Tracking Software also helps to quickly eliminate ghost assets, which prove harmful to costs and productivity. This is done by reviewing the current list of assets you have and then performing a physical audit to compare the two sets of data. Once identified, the ghost asset’s data can be edited to match its current state. And, as a bonus, this process can be instantaneous if using a mobile or handheld device.

Asset tracking systems can also be set up to alert inventory managers when stock is running low. As well as providing instant access to supplier details when it comes time to replenish stock. In terms of inventory management, Asset Tracking Software has the capabilities to:

• Reduce the time it takes to look for assets with real-time tracking
• Reduce the cost of replacing lost, stolen, or misplaced inventory
• Prevent spare part shortages
• Access inventory data on mobile devices
• Track stock as it moves between warehouses and stores
• Access stock from point-of-sale (POS) tools

Industries & Businesses That Utilise Asset Tracking Software

Tracking IT Assets and Hardware

IT teams manage some of the highest-value and most frequently moved assets in any organisation: laptops, desktops, servers, monitors, tablets, mobile devices, and networking equipment. As hardware is assigned to staff, moved between sites, and retired on a rolling basis, manual records quickly fall out of date, creating security gaps and unnecessary replacement costs.

An IT asset tracking system gives each device a barcode, QR code, or RFID tag linked to a digital record covering its location, assigned user, purchase date, warranty, and condition. This lets IT teams:

• Check hardware in and out to employees, departments, or locations with a single scan
• Run audits in minutes rather than days, and keep an audit-ready register
• Track warranties, end-of-life dates, and depreciation for accurate budgeting
• Reduce loss and theft by always knowing who holds which device

Asset Tracking In Healthcare & Hospitals

Medical equipment (machinery, medication, medical waste, PPE, and documents) has significant value. Installing Healthcare Asset Tracking Software helps healthcare professionals keep track of important assets, reducing the chances of equipment going missing or being stolen.

Tracking medical assets also has a direct impact on reducing patient wait time and improving patient care by enabling Medical Equipment Managers to:

• Tag and track assets such as medical devices, beds, wheelchairs, and IT equipment
• Improve inventory management and theatre kitting
• Know what equipment is located in which hospital room
• Reduce time spent looking for equipment (nurses spend more than one hour a day locating equipment)

Tracking Equipment In Schools & Education

Nurseries, primary schools, secondary schools, colleges, and universities have thousands of assets. These include sports equipment, teaching resources, computers, furniture, books, and more. To ensure assets are monitored and readily available for use, a school asset tracking system can be installed.

Although budget restrictions dictate a school’s ability to implement Asset Tracking Software, the trade-off in terms of replacing lost or stolen equipment can yield a greater ROI. Alternatively, department heads and admins use spreadsheets or pen and paper, which can be ineffective and susceptible to errors.

Tracking Assets Across Construction Sites

Tracking assets across multiple construction sites can be near impossible without the use of an asset tracking system. Asset Tracking Software enables site managers to gain visibility of assets both on-site and off-site, helping to reduce equipment delays to speed up crucial projects (10 to 30% of construction projects go over schedule).

Keeping track of construction assets - heavy equipment, tools, building materials, etc. - is the most effective way to reduce equipment theft and loss, something that costs UK constructions sites £800 million a year.

Asset Tracking For Churches & Nonprofits

Churches and nonprofit organisations invest the majority of their funding into fixed assets such as property and land, computers, religious teaching equipment, vehicles, and furniture. An asset tracking system ensures these assets are continuously tracked, allowing:

• Ceremonies to go ahead without delay
• Access to equipment booking features for church assets to be rented out to the community
• Visibility to when an asset was checked out and when it is due back

Tracking Retail Assets In Brick & Mortar Stores

Enhancing the overall customer and POS experience is vital for retailers. One main advantage of implementing a retail asset tracking system is to take control of inventory management. By storing inventory procurement, disposals, and sales data in a centralised system, retailers gain insight and accuracy into stock levels. This is achieved most effectively by using IoT devices such as RFID tags and QR or Barcode scanners.

8 Steps to Select the Best Asset Tracking Software That Matches Your Requirements

Choosing Asset Tracking Software is an eight-step process. Skipping steps, especially profiling what you track and matching the right tagging technology, is the most common cause of stalled rollouts and abandoned registers. The priorities below are shaped by Comparesoft buyer data on what asset tracking buyers say they need.

Step 1: Assess Whether You Need Asset Tracking Software

You need Asset Tracking Software when manual methods stop scaling. Comparesoft buyer data shows around 83% of buyers currently rely on spreadsheets, paper, or no system at all. Spreadsheets alone account for around 36%, and around 30% don't track their assets in any structured way.

You are ready for a dedicated system if:

• Assets are tracked in spreadsheets or on paper, or not tracked at all.
• You can't reliably see the location and status of an asset at any moment.
• Stock takes, audits, and inspections take too long and still contain errors.
• Equipment is lost or stolen, or you re-buy items you already own.
• There is no single, centralised record of what you own.
• Maintenance is reactive because service and warranty dates aren't tracked.

These signs mirror what buyers want a system to do: track the location and status of assets (around 63%), build a centralised asset register (around 54%), conduct audits, surveys, and inspections (around 42%), and reduce the cost of lost or stolen assets (around 38%).

Step 2: Profile What You Need to Track

Your assets decide which system and technology will fit, so document them before comparing features. Map five things:

• Volume: How many assets you hold today, and your projected growth.
• Types: Tools, equipment, and machinery are by far the most tracked assets (around 58% of buyers), followed by IT hardware (around 32%). Others include fleet and logistical assets, properties and facilities, infrastructure, and healthcare assets.
• Mobility: Are assets fixed in one place, spread across sites but static, or moving frequently between locations? Most buyers track assets across multiple sites rather than a single one, and the largest single group, around 36%, say their assets move frequently between locations. That pushes you toward real-time or multi-site tracking.
• Value and risk: High-value, safety-critical, or regulated items that need tighter control.
• Scope: Just over half of Comparesoft software buyers (around 53%) simply want to track assets, while around 43% also want to track the processes around them, such as inspections and maintenance.

Business-size reference: Fewer than 1,000 assets in one or two locations is usually well served by a smartphone-based barcode or QR system. Several thousand assets across multiple sites typically calls for RFID and proper multi-site support.

Step 3: Match the Tracking Technology to Your Assets

Tagging technology is the decision that most affects cost and capability, which sets asset tracking apart from most software categories. Match the method to the use case:

• Barcode and QR codes: Low cost and smartphone-friendly, best for manual check-in and check-out where line-of-sight scanning is fine. Suits smaller registers and tighter budgets.
• Radio Frequency Identification (RFID): Reads many assets at once without line of sight, suited to fast stock takes and high-volume registers of typically thousands of assets.
• Bluetooth Low Energy (BLE) beacons: Zone-level location for assets that move around a site.
• Global Positioning System (GPS): Outdoor, field, and vehicle tracking across wide areas.
• Ultra-wideband (UWB): Precise, real-time indoor location for high-value or safety-critical assets.
• Near Field Communication (NFC): Tap-to-scan for individual high-value or maintenance-tracked items.

Real-time tracking is one of the most in-demand capabilities of Asset Tracking Software, wanted by around 51% of buyers on Comparesoft, but it depends on hardware (BLE, UWB, or GPS) and raises cost.

Step 4: Separate Essential Requirements From Nice-to-Haves

Listing requirements in two tiers keeps demos focused and stops premium features inflating your budget. The split below reflects Comparesoft buyer data: a core of tracking, check-in and check-out, stock, and audit, with process and financial features wanted by narrower groups.

Essential requirements, the features buyers most commonly ask for:

• A central asset register with custom fields, showing each asset's location and status.
• Check-in and check-out management (around 51%), with assignment to a user, location, or project.
• Real-time or static asset tracking (around 51% and around 38% respectively).
• Stock and inventory management (around 46%).
• Barcode and QR tag generation and printing, or RFID tag support.
• Mobile scanning from a smartphone or handheld device.
• Audit trail and scheduled stocktake, survey, and inspection tools.
• Search, filtering, and grouping of assets.
• Reporting, data exports, and role-based user permissions.

Nice-to-have requirements, wanted by narrower groups of buyers:

• Service and maintenance tracking (around 32%).
• Digital forms, checklists, and signature capture (around 19%).
• Health, safety, and compliance tracking (around 9%).
• Lease accounting, depreciation, and fixed-asset financials (around 4%).
• Real-time location hardware (BLE, UWB, or GPS) and geofencing alerts, which see high demand but depend on hardware.
• Integrations with accounting, Enterprise Resource Planning (ERP), Computerised Maintenance Management System (CMMS), or IT Asset Management (ITAM) software, plus an open Application Programming Interface (API).
• Configurable workflows and automation.
• Bulk RFID reads and offline scanning.
• Booking or reservation of shared assets, and multi-site or multi-currency support.

Business-size reference: Smaller teams often need only the essential list. Maintenance, compliance, depreciation, and integrations become important as you move into mid-sized and enterprise tracking.

Step 5: Factor In Hardware Requirements

Asset tracking often needs physical hardware, which affects both your budget and your setup time. Decide on four things:

• Tags and labels: Standard QR or barcode labels, or ruggedised, metal-mount, or tamper-evident tags for demanding assets.
• Scanners and readers: Smartphone scanning at the lowest cost, handheld readers, or fixed RFID readers at entry and exit points.
• Printers: For producing your own asset labels on demand.
• Sourcing: Whether the vendor supplies a complete kit and managed setup, or the system is software-only and relies on existing smartphones.

Step 6: Calculate Total Cost of Ownership

Total cost of ownership (TCO) is the full cost of Asset Tracking Software over time, not just the headline subscription, so compare it across vendors before you decide. Comparesoft buyer data shows asset tracking is most often rolled out to a small team (around 40%) or a single department (around 30%), with around 21% deploying across a whole organisation, so match the pricing model to your scale. Account for:

• Subscription model: Priced per asset, per user, or by tier. Per-asset pricing tends to suit smaller registers, while per-user or tiered pricing suits larger teams and organisation-wide rollouts.
• Hardware: Tags, scanners, readers, and printers, plus ongoing tag replacement.
• Implementation, data import, and configuration.
• Training and the support level you need.
• Integrations and add-ons.
• Free tiers, which usually cap assets or users. Check the ceiling before relying on one.

Step 7: Shortlist Vendors and Run Tailored Demos

When shortlisting Asset tracking Software, narrow to four to six vendors and ask each to demonstrate your assets and workflows, not a generic tour. In each demo, assess:

• How easy tagging, scanning, and everyday use are for non-technical staff.
• How well the system handles your asset types, volume, and mobility.
• Reporting depth and stocktake speed.
• Real-time tracking and check-in and check-out, if those are on your essential list.
• Integration and API fit with your existing systems.
• Industry experience and customer references.
• Support, onboarding, and how well it scales as you grow.

Step 8: Plan Tagging, Rollout, and Ongoing Maintenance

A register is only as good as the data in it, so plan the rollout and upkeep before you go live. Around 45% of Asset tracking Software buyers on Comparesoft want to be live within one to three months. Set a realistic pace, and bear in mind that RFID and real-time deployments take longer than smartphone-based barcode or QR setups. Work through these steps:

1. Import or build your initial register, cleansing the data first.
2. Agree a tagging plan: Who tags which assets, where, and by when.
3. Pilot with one site or asset type before a full rollout.
4. Train taggers and everyday users, and appoint super-users to support each team.
5. Connect integrations and confirm user permissions.
6. Set key performance indicators (KPIs) to prove value, such as audit time, asset utilisation, loss rate, equipment downtime, and compliance.
7. Keep the register current as assets are added, moved, and retired.

Asset Tracking Software for Small, Mid-Sized, and Enterprise Businesses

Asset Tracking for Small Businesses

Small businesses usually track up to around 1,000 assets across one or a few sites and want to replace spreadsheets without investing in dedicated hardware. Smartphone-based systems that scan barcodes and QR codes from a standard phone camera, such as Asset Panda and itemit, suit this profile, and many vendors offer free tiers for fewer than 250 assets to get started. The priorities are low cost, fast setup, and ease of use.

Asset Tracking for Mid-Sized Businesses

Mid-sized businesses typically track 1,000 to 10,000 assets across multiple teams, sites, and user groups. At this scale, check-in and check-out, maintenance scheduling, role-based access, and integrations with existing systems become important. Cloud platforms such as EZO, Timly, and Wasp AssetCloud are built for this profile, balancing depth of features with manageable cost, and supporting barcode, QR, and RFID tracking as requirements grow.

Enterprise Asset Tracking

Enterprises track large volumes of high-value or business-critical assets, often 5,000 or more, across many locations, and need real-time visibility, supporting hardware, and managed implementation. Systems such as Ubisense, Tec-RFID, and Assettrac suit this profile, supplying RFID, ultra-wideband, or real-time location hardware alongside the software, plus the integration and compliance capabilities required at scale.

Which Tagging Technology Is Best For Asset Tracking?

• Barcodes: A cost-effective solution that requires barcodes to be physically scanned by a reader.
• QR codes: Like barcodes quick-response (QR) codes are manually scanned but hold more data and respond quicker.
• GPS Trackers: Global position systems triangulate the position of a GPS tracker to display the exact coordinates of an asset (most commonly used for vehicle fleet tracking).
• WiFi Positioning: Scans local WiFi access points to locate assets based on signal strength.
• RFID: Radio-frequency identification tags (passive, active, or semi-passive) transmit data between tags and receivers.
• NFC Tracking: NFC tags are a sub-set of RFID, but unlike RFID tags they offer the option of two-way communication.
• Bluetooth Low Energy (BLE): Low energy beacons and tags are used for short-range tracking.

The variety of asset tags and scanner combinations means there’s a solution for almost any asset-tracking requirement. Each tag has different capabilities, which are defined by range, speed, durability, data storage, and pricing.

Below is a comparison table of the most common asset-tracking tags and labels:

Helpful Guides For Asset Tracking Software Buyers

Asset Tracking Software FAQs

Who Is Asset Tracking Software Used By?

Asset Tracking Software is accessed by multiple users throughout an organisation, such as:

• Admins (asset managers, small business owners, IT admin): Admins require a complete overview of a business’s asset profile. These roles can add, edit, update, and delete asset data from the main system.
• Department heads (accounting and finance, marketing and advertising, IT): Managers need access to operations, maintenance, and procurement asset data to understand better areas like lifecycle management, depreciation values, TCO, and more.
• Concurrent users (inventory managers, office-based employees, warehouse teams): Concurrent users include employers who need daily access to a system’s asset data to generate reports, view asset conditions, and maintain inventory levels.
• Mobile/Field staff (engineers, technicians, warehouse employees, couriers): Mobile asset tracking apps used on iOS and Android devices enable field staff to check real-time inventory levels, update asset availability and more using features such as in-phone barcode scanners.

How Does Asset Tracking Work?

Asset tracking workflows can vary depending on the hardware and software used as well as the intended purpose. Typically there are five stages to a successful asset tracking process:

1. Choose the right set-up: Find a combination of hardware (tags, labels, and sensors) and software that best matches your requirements.
2. Assign tags with asset data: Match your asset data with your asset tags using fields like unique ID, location, quantity, condition, and user.
3. Affix tags: Attach your asset tags to the corresponding fixed or moveable assets.
4. Scan and transmit data: By using a scanner or reader on a tag or label, that asset data is transmitted into your centralised asset tracking system.
5. Track and manage asset data: View, update, monitor, and report on your asset data.

Every Asset Tracking Software Looks the Same - What Is the Best Way to Compare Them?

When searching for Asset Tracking Software, there are multiple factors of products that you can compare. Like:

• Cost
• Features offered
• Deployment type (mobile, web-based, cloud, etc.)
• Implementation time
• Industry-focus
• Customer support options

If, after days, weeks or even months of searching for the right asset tracking system, you haven’t found a solution that matches your requirements, you may feel like giving up. But, that’s where our software comparison tool can help.

By answering a few questions, we can gauge exactly what you need. This short questionnaire asks what assets you need to track, what operations you want to track, how many assets need to be tracked and what industry your business is in.

We then provide a list of the UK’s best software vendors and systems that match your questions and meet your tracking requirements.

As well as this, you are then able to shortlist your favoured choices and compare features, reviews and prices of each one.

To ensure that the products we recommend feature the best quality standards, we ask every software vendor to demo their product to us. This allows you to see all the strengths and differentiators of each product. We also rank and recommend each product based on verifiable data and feedback from past customers who have used the product.

What Is Real-Time Location System (RTLS) and Can It Improve My Asset Tracking?

Mostly associated with location tracking, an RTLS provides much more key data regarding physical assets. It lets you know when an asset was last used, and how frequent, and how long it was active during a working day. Effectively letting you build a complete lifecycle from acquisition to disposal.

An RTLS is embedded into a device that emits a signal. This signal, along with all the data attached to it, is then received by a reader. By implementing this type of system, businesses are then able to track all assets operating in the workplace. As well as stationary assets, like inventory, to locate them throughout the day.

Modern RTLS solutions can be found in wireless technologies such as RFID and Bluetooth, in the form of asset tags. They are also used in GPS trackers, which can be handy for a business managing its own vehicle fleet.

The ultimate purpose of tracking assets is to know an asset’s exact location and to understand how each one is being utilised. By using a Real-Time Location System, businesses can improve their overall asset management. As well as calculating a more accurate return on investment (ROI) for each asset.

As a result, you’ll be able to manage assets with greater accuracy. Other benefits of implementing an RTLS include a reduction in lost and stolen assets. As well as being able to produce a more time-effective maintenance and repair schedule.

An Asset Tracking Software Vendor Doesn’t Offer a Free Trial - Is That a Red Flag?

As you embark on your journey of finding the right asset tracking system for your business, there are many factors to consider while evaluating and comparing vendors and products. For example, do you require an open-source and cloud-based system? If so, then a product enabling open source programming and a vendor offering cloud-based access will be a part of your core requirements.

Another consideration, which is often overlooked, is if the vendor offers a free trial or live demonstration.

By being able to access a free trial of a vendor's software, you can gauge if it is the right solution for your operations. Although you may not be able to find a link to a free trial on their website, it’s always worth emailing their support and asking for one.

There are many reasons as to why you should actively seek a free trial when searching for the right asset tracking software, such as:

• It’s the first chance for you to interact with the product
• You can see how easy the UI is to navigate for you and your team
• To understand if it can be integrated with your existing programs
• It’s a great chance to test out a common scenario to see if it reacts how you need it to

If you can’t find an option for a free trial, and the salesperson can’t provide you with one, it may not be worth taking the risk to purchase the product.

What Are the Key Questions to Ask an Asset Tracking Software Vendor?

1. Is it Easy to Use?

Ideally, you’ll want all of your employees to adopt this new system as quickly as possible. The easier it is to use, the faster your team will get on board with it. Does the software have a user-friendly interface across desktop and mobile devices? Well, the easiest way to find out is by asking the vendor for a demo.

By having access to a demo, you can make sure the software is easy to navigate. You can also see if the menus and buttons are logically laid out, and functionality on mobile devices works as you’d expect. Also, ask about the software training process to determine whether this is likely to be rigorous or straightforward.

2. What Features are Included?

This is a great chance to check whether the asset tracking software is customisable, so you can make changes or purchase add-ons if needed. A flexible system may include features such as asset lifecycle management, asset auditing and APIs for integration with other applications.

Also, see if the system supports barcode scanning, RFID tags, and QR codes. Although you may want to start with just barcode scanning, your requirements may differ in the future.

3. Will It Suit Your Business?

One of the most crucial asset tracking questions is whether the solution is a good fit for your business. To find this out, you can gather as much information about your tracking requirements as possible. Ask yourself, do you need to:

• Geolocate assets that move between different destinations?
• Track static and connected assets across multiple sites?
• Check-in/check-out assets such as IT devices for employees?
• Track stock levels in your warehouse?
• Track deliveries for customers?
• Depending on your business type, you may also need specific cloud-based tracking technologies. GPS tracking, for example, is ideal for businesses that manage a fleet of vehicles.

4. Is the System Scalable?

To make sure you purchase a futureproof solution, you should consider scalability. As your company expands, your asset register will also grow. So, will the software be able to cope with tracking thousands of assets across multiple locations in the future?

A scalable asset tracking system should be able to grow with your business. It should also provide robust tracking functionality with the option to add modules. For example, imagine that a fitness company loans top-quality treadmills to running enthusiasts that don’t want to invest in one upfront.

Initially, the fitness company begins to track the treadmills to know which customer has access to which treadmill. As the fitness company grows, these treadmills will need to undergo reactive and preventive maintenance so they can carry on being rented out to customers. In this case, the fitness company may decide they also need an asset maintenance module as well as asset tracking. That way, effective maintenance and repair can be scheduled and budgeted for.

5. Is the Vendor Well-Established?

Another essential asset tracking question to consider is the software provider’s reputation. In a recent survey from fibre2fashion.com, over 19000 customers identified company strength as the most important factor when choosing software. By researching the vendor’s history you can learn how long they’ve been in business, how many customers they have and what experience others have had with them.

It’s also worth speaking to different vendors to learn what plans they have for the future and to understand what new features they’re working on.

6. What Level of Support is Offered?

If you run into problems with your asset tracking system, you’ll want to know there is comprehensive support available.

So, make sure your preferred software provider has several different options for contacting a support representative. For example, on email, live chat, by phone or via a dedicated Facebook group.

7. Does the Tool Match Your budget?

As far as asset tracking questions go, this one can be the deal clincher – or the deal-breaker. And crucially, budgets can vary depending on the size of your business.

Think about whether you want to pay upfront or would prefer to pay a monthly service fee. And, don’t forget to include the price of add-on features in case you need these in the future.

What Assets Can Be Tracked With Asset Tracking Software?

An asset tracking system is implemented to track physical, fixed assets and combine that data in a detailed fixed asset register. These assets include:

• IT Assets: Any IT hardware assets such as computers, servers, keyboards, printers, tablets, and mobiles. (software assets can also be tracked but are better utilised with IT Asset Management Software or Software Asset Management Software tools.)
• Tools: Suitable for tradespeople, construction sites, and field service businesses. A barcode tool tracking system is best as each tool can be affixed with its own tracking label.
• Heavy Equipment: Moveable heavy-duty equipment and machines (such as cranes, bulldozers, loaders, and agricultural equipment) can be tracked as the travel between locations using GPS trackers.
• Vehicles: Using GPS trackers, vehicles (cars, vans, buses, etc.) can be tracked during journeys. Data can also be collected on the speed of travel and other factors with the right GPS tracker installed.
• Furniture: Office furniture is commonly tracked and accounted for using barcodes and QR codes.

What Is Asset Control?

Asset control is a term for tracking and managing a business’s assets. It refers to the processes put in place - typically with an asset management system or an asset tracking system - that enable businesses to have full control of their asset ownership.

That includes tracking assets, organising them in asset logs/registers, recording purchasing and financial data, managing asset lifecycles, forecasting depreciation values, and more.

Can Asset Tracking Software Be Used to Schedule Preventive Maintenance?

Yes, the features and capabilities of Asset Tracking Software make it an ideal tool for identifying and scheduling preventive maintenance.

By analysing the purchase date of an asset along with how many times it has been used and how integral it is to operations, maintenance teams can set up a predetermined maintenance schedule that ensures the asset is readily available and in good working condition for longer.

Maintenance is an integral part of the asset lifecycle. Without it, maintenance, replacement costs, and downtime can spiral. An asset tracking system makes it possible to set up triggers and alerts when certain thresholds are hit like time, usage, and other parameters.

Asset Tracking vs. Inventory Tracking: What’s the Difference?

The difference between asset tracking and inventory tracking lies in the definition of an asset and inventory:

Asset tracking is the tracking, managing, and organisation of the assets that you own (equipment, machines, vehicles, tools, etc.). Inventory tracking is the same, but for items that you are planning to sell or consume (stock of finished goods, raw materials, etc.).

In terms of tracking systems, an inventory tracking system will focus on real-time location, distribution and manufacturing details, stock levels, and purchasing information.