Asset tracking is accustomed to answering the question; "how many (product) do I have?". Asset Tracking Software does this too but in a more efficient and streamlined manner by allowing businesses to capture and use even more data than ever before when it comes to tracking physical assets.
Asset Tracking Software enables businesses to track all their physical assets in one system by attaching barcodes, QR codes, RFID tags, NFC tags, and GPS trackers to equipment, inventory, vehicles, and people.
Implementing a digital asset tracking system provides the tools to build an accurate asset register that can be accessed anywhere at any time via a mobile app. That includes asset data such as asset name, a unique identification number, real-time location, previous users, reservation information, images, and user notes. This helps users to:
- Track and manage physical assets in real-time
- Provide accurate stock and inventory levels
- Gain visibility of assets across multiple locations
- Reduce costs associated with lost, stolen, or misplaced assets
- Build a detailed asset register showcasing various asset data
How Does the Asset Tracking Process Work?
The basis of tracking assets is through the use of tagging labels and tags combined with Asset Tracking Software. The way each tagging tool operates can vary, but they all ultimately have the same outcome. Each tag assigns a unique identification code to each asset. The process is then broken down into four stages:
- Record physical assets into an Asset Tracking Software solution
- Input relevant data for each asset (ID, location, user, purchase history, maintenance schedule, etc.)
- Tag each asset with a tracking label or tag
- Easily monitor and track your assets in real-time
The Benefits of Using Asset tracking Software
Upgrade Your Asset Tracking Spreadsheets
Spreadsheets can be a good resource when first starting to track your asset data. But, as a business scales, so does its assets and the data that comes with them. This makes the use of spreadsheets unmanageable as they begin to become a burden; they’re tough to share between team members, they lack advanced features, and they’re susceptible to errors - 88% of spreadsheets contain at least one error.
This is where Asset Tracking Software surpasses the standard spreadsheet. 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.
Learn why 90% of users prefer cloud-based asset tracking →
Choose an Asset Tagging Solution That Suits You
With an asset tracking system, businesses have the choice of using a range of asset tags and labels. These include barcodes, RFID tags, QR codes, NFC tags, and GPS trackers. Each tagging option has its own benefits and suits different tracking environments.
By affixing tags and labels, businesses can ensure the accurate tracking of their physical assets. Whether that be tracking inventory throughout warehouses, tracking the location of tools on a construction site, or tracking staff when working off-site.
See how asset tagging works →
Access Asset Data Any Time, Anywhere
With modern asset tracking tools, businesses can access asset data from anywhere at any time on a mobile device - something that is limited when using spreadsheets or pen and paper.
Mobile asset tracking capabilities allow off-site users to access an asset register instantly. All through the use of a dedicated cloud-based asset tracking mobile app. Mobile devices with built-in scanners for QR codes and Barcodes can also update data on the go. Eliminating the need to carry around expensive hardware such as scanners.
Discover the benefits of mobile asset tracking →
Store All Data In One Place
Having data stored in one accessible asset register makes tracking assets much easier. As opposed to having multiple asset profiles saved across multiple spreadsheets. An asset's unique profile provides data such as warranties, location, and purchase orders. As well as allowing asset managers to see who is using an asset and when it is due back.
See how businesses benefit from using an asset register →
Take Control of Your Inventory
By combing 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 systems can 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.
See how retailers benefit from better stock control →
Asset Tracking Software Features That Match Your Requirements
Businesses that rely on equipment rental require an effective asset booking system. Particularly in industries such as education and construction. Asset Tracking Software allows users to easily reserve, book, and check out equipment. As well as see equipment availability and receive alerts when equipment is ready.
Checkout systems enable users to book equipment in advance. Helping to reduce the risk of double-booking. It also makes it easier for businesses to follow up on overdue returns. As well as displaying what assets are available to employees via a shared calendar.
Learn more about using a check-in/check-out system →
View the Entire Asset Lifecycle
Users can see the entire lifecycle of each asset from purchase date and price to disposal plans. In between procurement and disposal, data will also indicate previous maintenance history and what the operational life of an asset is. This allows better forecasting, reporting, and visibility.
Know more about the 4 asset lifecycle stages →
Track & Schedule Maintenance
With the use of an asset register, all asset maintenance plans are displayed in one place. This includes planned maintenance, preventative maintenance schedules, and previous plans. Having this data helps asset managers to understand when an asset will be unavailable. As well as knowing when equipment is due for repairs.
See why maintenance is essential for extending asset life →
Generate Barcodes & QR Codes
The best part of using barcodes and QR codes for asset tracking is being able to print your own on-site. As opposed to other alternatives such as RFID tags and GPS trackers. The best asset tracking products allow users to instantly generate barcodes that are unique to an asset, print them off and affix them.
Discover the basics of using barcodes for tracking assets →
Receive Push Notifications & Alerts
Systems can be set up to notify asset managers and staff of certain reminders. Notifications regarding stock levels, live locations, expired warranties, or planned maintenance can be sent via email to mobile devices and desktops.
Track Vehicle Locations With GPS
The use of GPS trackers allows businesses to get real-time location updates through an RTLS. This is useful for large movable assets such as vehicles and machinery. Trackers are physically attached to a device and emit signals back to an asset tracking system. As well as handheld devices and smartphones.
RTLS tracking benefits several industries including postal and courier services. Enabling owners to track their drivers and delivery routes.
See why GPS trackers are great for fleet tracking →
Several Industries Have Benefited From Using Asset Tracking Software
Healthcare & Hospitals
Medical equipment - such as machinery, medication, medical waste, PPE, and documents - has significant value. This is why implementing an asset tracking system in a healthcare environment is vital. Healthcare Asset Tracking Software reduces spending on missing or stolen equipment. As well as helping to reduce patient wait time and improve the efficiency of patient care.
See how Asset Tracking Software can help healthcare providers →
Schools & Education
Primary schools, secondary schools, colleges and universities all consist of thousands of assets. From expensive IT assets like computers to small assets such as library books. But, having to work within a limited budget means the replacement of lost or stolen assets can be costly. This is where a school asset tracking system can offer a solution.
Learn how schools can benefit from asset management →
Tracking assets across multiple sites can be near impossible without the use of an asset tracking tool. Asset Tracking Software enables site managers to gain visibility of assets both on-site and off-site. As well as reducing equipment delays to speed up crucial projects. Tracking construction assets also helps to reduce equipment theft and loss.
Churches & Religious Sites
Churches consist of assets that are essential to ensuring ceremonies go ahead without delay. Access to equipment booking features allow church assets to be rented out to the community. As well as providing visibility as to when an asset was checked out and when it is due back.
Brick & Mortar Retailers
Enhancing the overall customer and POS experience is vital for businesses in the retail industry. One main advantage of implementing retail asset tracking is to take control of your inventory. By storing inventory procurement, disposals and sales in one central system you’re able to gain insight and accuracy into your stock levels. This is achieved most effectively by using IoT devices such as RFID tags and QR/Barcode scanners.