Easily Shortlist & Compare Best Asset Tracking Software That Track Your Assets as per Your Tracking Processes

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1593 Businesses Have Used Comparesoft to Shortlist Asset Tracking Software

Eaton School
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Why Compare Asset Tracking Software with Comparesoft?

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Customised Shortlist

Customised shortlist of asset tracking software that meets your requirements.

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Industry Case Studies

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See Product Images and Demo

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Implementation Timescales

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Buyer's Guide for Asset Tracking Software

What is Asset Tracking Software?

The main purpose of asset tracking software, is to answer the question; "how many (product) do I have?".

Whether you’re a micro-business, small business, or large business, the ability to track all assets in one centralised real-time directory can be hugely beneficial.

A centralised directory can include anything, and everything, about an asset. Including an asset's current working condition, where it is located, which employee used it last, and when it is due for maintenance.

With the ability to access data in real-time, asset tracking software can help reduce the possibility of assets being lost or stolen. While also assisting in identifying and removing ghost assets.

Modern systems include a vast array of tools to collect data and use it efficiently. Such tools include RFID tracking, barcode solutions and real-time GPS tracking.

An asset tracking system can also generate accurate inventory reports for audit purposes, which can eliminate the error-prone manual process of collecting asset data.

7 Benefits of Asset Tracking

1. One Comprehensive Directory

Asset tracking software can allow you to build and maintain a complete and accurate directory of all physical company assets.

2. Cloud-based Access

Most modern software gives you and your staff the ability to manage all assets anywhere at any time.

3. Real-time Tracking

Real-time tracking allows you to track assets, with the use of tracking technologies, as they arrive and leave. Having complete knowledge of assets going in-and-out of your company can be crucial for efficient data management.

4. Avoid Assets Being Lost or Stolen

Features, such as GPS asset tracking or RFID tracking, let you continuously track assets. By knowing the location of assets, you'll be able to reduce the number of items that are either lost or stolen in the workplace. This can also be useful when tracking an item that has been detached from a big batch order, saving significant manpower and time looking for the item.

5. Calculate Asset Lifecycle

You will be able to know when an asset is deteriorating or devaluing by calculating and understanding the lifecycle. By knowing an asset's lifecycle, from acquisition to disposal, you can avoid unnecessary costs and plan effectively for its replacement.

6. Export Asset Reports Within Minutes.

Export and download detailed reports of all company assets within minutes. This can be extremely time-efficient when producing quick and accurate reports for an internal or external audit of company assets, as opposed to doing it manually through an asset tracking spreadsheet.

7. Find and Remove Ghost Assets

When an asset is either lost or unusable, but it is shown as active on an asset register, this is called a ghost asset. An effective system can help identify these ghost assets to help avoid decreased productivity and unnecessary costs.

Typical Features Found in Asset Tracking Software

Cloud-based Apps

Most modern asset tracking systems feature cloud-based apps that can allow you, and your employees, to check and update asset data anywhere and at any time. This can be done with smartphones, tablets or specific devices.

Tracking Technologies

The use of tracking features, such as GPS, RFID and barcode tracking, allows you to quickly track and locate the geographical location of your assets.

Route Tracking

Track the exact route of an asset that is being transferred from one location to another, in real-time.

Scheduled Maintenance

Asset tracking software can learn and understand the data and trends of an asset's lifecycle, including when maintenance is due. This can significantly reduce an asset's downtime and reduce unnecessary spending and repair costs.

Set Alerts

You can set customised trigger alerts to notify a user on specific asset data. For example, an alert can be sent to a specific employee when an asset's warranty expiry is approaching.

Industries Using Asset Tracking Systems

Healthcare and Hospitals

Medical equipment can have significant value, which is one of the reasons why hospital asset tracking is so important. The range of assets in a medical setting is vast and can include machinery, medication, medical waste, computers, patient documents and more.

Education and Schools

Limited budgets mean cost management is vital in education. Effective asset tracking software can save money by increasing accountability and reducing the amount of lost or misplaced assets. Education assets can include computers, textbooks, furniture and office supplies.

Information Technology

Like in most industries, the cost management issues that an IT business faces are asset maintenance and replacement costs. Implementing software gives IT industries a better understand of asset lifecycles, which allows them to know when to replace an asset or upgrade it.


Large manufacturing plants can be full of assets, both large and small. By implementing a management system, it can both cut down on time wasted locating components and tools and allow for appliances to run at maximum ability during operation.

Asset Tracking, Tagging and Scanning Guides

Date 10th Sep 2019
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Best Hospital Asset Tracking Technologies and Practices

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How GPS Fleet Tracking Can Improve Fleet Management

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Date 10th Oct 2019
7 Inspiring RFID Asset Tracking Facts You'll Want to Know

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Date 23rd Oct 2019
How Barcode Tracking Tools Can Boost Your Asset Tracking

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Date 10th Dec 2019
How Bluetooth Asset Tracking Can Enhance Tracking in the Workplace

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Frequently Asked Questions

Helping to Answer all of the Questions You Have About Asset Tracking Software

How do I Find the Best Asset Tracking Software Solution?

There are many variables to understand and consider when finding the best asset tracking software solution for your business. The key to knowing what tracking software suits your business best is to first understand the assets that make up your business.

Company assets can depend on what sector and industry your business is in, and also the size of your business.

For example, an IT Centre’s assets could be made up of computers, mobiles, printers and furniture. Therefore, they would benefit from a software solution that can calculate the lifecycle of its assets. By doing so, they would then be able to know when each asset needs updating or repairing.

However, the IT Centre wouldn’t necessarily have much use of an asset tracking system that is heavily integrated with a GPS tracking tool. Whereas a transport and vehicle business would benefit greatly from GPS tracking by being able to track their moving physical assets in real-time.

Why Should I Track My Business Assets?

In its simplest form, the purpose of asset tracking is to answer one question; “how many (product) do I have?”.

By implementing asset tracking, you can then begin to build and keep a real-time directory of all assets in one place. As a business, it is essential to be aware of the location and working condition of all company assets.

Before considering a tracking system, it’s important to understand what business assets you have. For example, an IT Centre's asset would most likely be IT equipment and hardware, Software, Mobiles and Tablets, Furniture, Important documents and Company vehicles.

What Asset Tracking Tools are Featured in Tracking Software?

Asset tracking tools are most commonly seen as the main features of an asset tracking system, with each tool offering a different tracking solution. The benefit of having more than one asset tracking tool in an application is to enhance the tracking opportunities that best suit your business.

Most modern tracking software features a wide range of tools and features in their applications. But the three most common tools found in a software package are GPS tracking, Barcode tracking and RFID tracking.

A GPS asset tracking tool allows the possibility of tracking anything and anyone in real-time by with a satellite system network. GPS tracking is mostly used for larger physical assets, such as vehicles and machinery, and, as well as real-time tracking, can provide live locations and historical data.

Barcode tracking can be seen as an easy and time-efficient tracking tool by supplying all asset data by scanning the asset’s barcode with a scanning device. With an average error rate of 1 in 36 trillion characters, barcode tracking is a proven error-free tracking tool. One barcode can also store up to 4000 characters of text, allowing for extensive asset data collection.

RFID tracking (Radio Frequency Identification) works by sending a radio signal out to a tag and then reading an asset’s data from the returned signal. The benefit of an RFID tracking tool is the ability to read tags from a distance of between 20-1500 feet, meaning you do not have to be in the area to gather asset data. Not only are you able to read multiple tags at once, but RFID tags are also incredibly durable with long-lasting batteries and weather-proof material.

How do we Compare Asset Tracking Software at Comparesoft?

Not only do we rely on maintenance experts, but we also use natural language processing and machine learning to identify your business requirements and then match the correct asset tracking products. Once this is completed, we then present you with a list of vendors. You can then shortlist these results and compare each asset tracking software product against each other to find the right one for you.

With this proven process, we blend human experience and artificial intelligence to identify the very best software products based on your requirements. So far, we have assisted over 1500 customers to shortlist and compare asset tracking software products.

To ensure that the products we recommend feature the best quality standards to meet your requirements, we ask every software vendor listed on our website to demo their product to us. This allows you, the customer, to see all of the strengths and differentiators of each product.

We also rank and recommend each product based on verifiable data and the feedback from past customers who have used the asset tracking product found on Comparesoft.

What Asset Tracking Vendors can I Shortlist and Compare?

Here at Comparesoft, we pride ourselves on having the best asset tracking vendors in the UK that can match the needs of all businesses. By having such a high-quality list of vendors, we are then able to provide you with a detailed list that meets your requirements.

Once you have completed our tracking software questionnaire and informed us of your tracking needs, we use natural language processing and machine learning to identify and match asset tracking products.

As well as providing a list of quality vendors, we will also identify the top three results that we believe to be the best suit for your business based on the results of your questionnaire.

How Can Cloud Asset Tracking Enhance my Business?

It is very common to find a cloud-based feature installed as standard in modern software products. By incorporating cloud into tracking systems, businesses can then track and manage asset data with more efficiency. As opposed to non-cloud asset tracking systems, such as a spreadsheet.

An example of a cloud-based asset tracking feature is an app that stores the company’s accessible asset data. All of this data is stored by staff and employees, who can then access it across multiple sites at any time via mobiles and desktops.

This shared data would consist of all possible tracking data in one centralised system, with the overall aim to effectively show a business what assets they have and how much of them they have.

A benefit of having this tracking data available in a cloud-based app is its ease of access for employees. For example, an employee may need to know the tracking data of one of the company’s fleet vehicles. Available to them, via the cloud system, would be the vehicle’s current geographical location and it’s historical location data.

Can I Swap Out My Asset Tracking Spreadsheet for a Software Solution?

One main advantage of having asset tracking software is to disregard an outdated asset tracking spreadsheet. This can then allow a business, and its operations, to run with more efficiency and reduced errors.

Whilst accessing and downloading a spreadsheet template online to manage your asset data may seem like a good idea at first, it can soon become overrun with data as the business grows.

As a business continues to manually add asset data to the spreadsheet, the risk of human error increases. On average, in 2015, fraud and human error were costing businesses in the UK £98.6 billion a year.

However, in less asset-heavy and smaller businesses, a simple spreadsheet might be the best choice. For example, implementing the software into a small office with only a few computers and desks could be overkill.

But, when compared to an asset tracking system, it is the lack of features found in a spreadsheet, that could eventually lead to inefficient asset data handling.

Can Asset Tracking Software Help Identify Ghost Assets?

If a physical asset is shown as active on an asset register but is either lost or unusable, it is seen as a ghost asset. These types of assets can easily go unnoticed and are a more common issue with businesses using a simple spreadsheet to track and manage business assets.

A study found that the average company will have anywhere from 15-30% of ghost assets in their inventory, which could be extremely costly to a business.

There can be many disadvantages to having ghost assets in a business, including paying property and income tax on these assets that are not actually there. They can also be harmful to productivity, as an asset that is supposed to be available but can not be located, can lead to downtime and unplanned acquisition of a replacement asset.

By swapping out a manual spreadsheet process, a business can then use tools such as Barcode and RFID technology to track and manage their assets. By eliminating the manual process of tracking assets, this can reduce the number of these that appear on a company’s inventory sheet.

Does an Asset Tracking Solution Offer Real-time Tracking?

Most modern asset tracking software solutions will offer a form of real-time tracking to effectively monitor assets across an entire organisation. This can most likely be offered from the vendors in the form of tracking technologies like GPS and RFID.

The ability to track company-wide assets in real-time can not only be beneficial in the constant monitoring of asset-efficiency but is also key for businesses with large vehicle fleets. This can include such companies from business car leasing to a global postal delivery company.

There are many types of tracking technologies available from different software vendors to help track assets in real-time. Technologies such as Bluetooth and RFID can be effectively used to monitor nearby assets in the workplace. Whereas GPS and WIFI as more commonly used to track equipment on a wider scale.

Although it is easy to align the nature of real-time tracking with large organisations, it can be equally as vital to implement a tracking solution into a small business. By monitoring and tracking important assets, a small business can effectively avoid disastrous scenarios such as unplanned maintenance and costly downtime. A real-time tracking solution can also limit the amount of lost and stolen assets that can damage a small company's finances.

Should I Choose a System that Offers Bluetooth Asset Tracking?

Most asset tracking software vendors offer a variety of technologies to effectively track business assets, including Bluetooth asset tracking. Bluetooth tracking works by using radio waves to exchange information between devices over a short distance.

Because of this short distance, it is important to understand the need of using Bluetooth tracking in the workplace in comparison to other long-range tracking technologies such as GPS.

For example, a delivery service company wanting to track its fleet of delivery trucks would be better using GPS. Whereas, a manufacturing company that needs to track spare machinery parts and check their current conditions many benefits more from Bluetooth.

The benefits of implementing Bluetooth tracking can be very advantageous. It can assist in the removal of ghost assets, reduce the amount of lost and stolen equipment that would need replacing, and can provide vital information to help produce effective maintenance schedules.

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