Asset Tracking Software systems are digitalized platforms packed full of various tools and features to help businesses better track and manage their most valuable current and fixed assets. By utilising tracking technology such as Barcode, RFID, QR Code, and GPS, businesses can reap the many benefits of Asset Tracking Software. Including increasing asset visibility, generating real-time location data with asset tagging, and storing all data in one accurate and accessible asset register.
What Is Asset Tracking Software?
Asset Tracking Software is a computerized system designed to help businesses effectively track and manage all physical assets throughout the workplace and beyond.
By using asset tagging tools and tracking technology, such as RFID, Barcode, QR, and GPS, industries ranging from schools to retailers are able to collect and store data regarding their entire asset database. All of which, thanks to cloud-based solutions, is stored and accessed in one centralized asset register.
The purpose of businesses being able to effectively manage and track their assets is to:
- Gain greater visibility of fixed and current assets
- Reduce replacement costs for lost or stolen assets
- Build an accurate and automated asset register
- Provide staff with asset data as and when they need it
Typically, asset tracking is used to answer the question: "how many (product) do I have?". But, thanks to the advancement of technology, the capabilities of Asset Tracking Software now provides users with more valuable data regarding their most critical physical assets. Including inventory management, automated stock control, condition monitoring, maintenance scheduling, and real-time location.
The Benefits of Using Asset Tracking Software
Asset management tools are an effective way to increase the efficiency and accuracy of a business’s overall asset management efforts. Being able to use asset tagging technology and collect accurate data results in a range of benefits for operations of all types and sizes.
Build an Accurate Asset Register
Instead of having asset data stored on different computers and spreadsheets across the workplace, Asset Tracking Software enables businesses to store it all in one place. This is particularly useful for:
- Accessing critical asset data on demand
- Allowing teams to access data at anytime
- Managing a check-in system for the use of assets
- Viewing historical data
Access Data Anytime, Anywhere
Being able to access a centralized asset register from anywhere at any time is revolutionary for businesses. Through the use of mobile apps and cloud-based tools, managers and employees can have access to asset data whenever they need it; from when equipment is scanned and Barcoded on arrival to when it leaves the workplace.
Reduce Misplaced, Stolen, or Lost Assets
By having an accurate overview of each physical asset’s location, the number of assets that are either lost or stolen will significantly decrease. This, in turn, helps to reduce the unplanned expenditure of replacing lost equipment. Having the ability to track the geographical location of assets can also be useful when tracking an item that has been detached from a big batch order, saving significant manpower and time.
Replace Error-Prone Spreadsheets
A common practice for start-ups and SMBs is to track their physical assets in spreadsheets. This is a handy way to store at the early stages of a business; they’re free and require minimal training. But spreadsheets don’t scale well when a business grows. Spreadsheets are prone to errors, tough to share with employees, and lack features.
Typical Features of an Asset Tracking System
Mobile Access
When opting for a cloud-based system instead of an on-premise solution, one main benefit is being able to access asset data on mobile devices. All employees, whether in the workplace or out in the field, can access real-time data through the use of a mobile device, such as a smartphone or tablet, and an internet connection.
Asset Tagging
The asset management marketplace is packed full of systems that offer various forms of asset tagging tools. Whether that be RFID, Bluetooth, NFC, or Barcode. This allows businesses to opt for a tagging technology that is right for their operations. For instance, a delivery and logistics organization may choose to opt for a GPS and RFID asset tagging system. Whereas a retailer will prioritise a QR and Barcode solution.
RTLS Tracking
Particularly useful for large movable assets such as fleets, the use of GPS trackers allows managers to receive real-time location updates through an RTLS. These trackers are physically attached to a device and emit signals to asset tracking systems. As well as handheld devices and smartphones. RTLS tracking can benefit a number of industries including postal and courier services, allowing owners to track their drivers and delivery routes.
Automated Inventory Management
By using asset tagging tools and asset registers, businesses can set custom triggers. This can be in the form of notifications and alerts that are sent to a team member’s mobile device. The most productive use of this is for stock control and inventory management. Asset management systems can be set up to alert inventory managers when stock is running low. As well as providing instant access to historical order information and supplier details when it comes time to replenish stock.
The Importance of Asset Tagging
Asset tagging forms the basis of an asset tracking system’s capabilities. It is the process of attaching identification tags and labels to equipment and infrastructure, which initiates the process of being able to track both fixed and current assets throughout the workplace.
By using unique serial numbers and codes, asset tags are used to identify and track equipment throughout buildings, supply chains, and sites. Asset tags are available in a variety of different forms, allowing for greater usability across industries.
For instance, barcode labels will be more useful to retailers than GPS trackers, whereas RFID tags would be better used in the logistics operations of warehouses than QR codes.
Whether a business chooses to deploy GPS trackers, RFID tags, or QR codes to track their assets, each asset tagging option has the same benefits:
- To simplify the tracking of high-value assets
- Replace the need for manual data entry
- Speed-up the collecting of real-time data
- Build a real-time location system
- Track the usable life of assets
- Reduce the costs associated with the loss and theft of assets
When assigning a unique identification to an asset, businesses need to ensure that they’ve chosen the right asset tags to match their requirements. For instance, they need to consider if the asset tag should be durable, temperature-controlled, or is being used for security purposes. Types of asset tags include:
Barcodes
Barcodes are an affordable and easy-to-use asset tagging solution for businesses with a large number of physcial assets. Particularly useful for inventory tracking, the black and white parallel lines of a barcode are readable by both scanners and mobile devices.
Barcodes can be affixed to all types of assets, from equipment and tools to infrastructure and spare parts. Being a simple scan-and-read system, they don’t require any training among staff and are a low-cost expense. Making the use of barcodes a popular choice for small businesses wanting to enhance their hardware asset management and equipment tracking processes.
RFID Tags
RFID tags are designed with a chip that is ‘woken up’ by the radio signal of an RFID reader. A tracker is able to read the data stored on an RFID tag, via an antenna, and transmit it to an asset register. Thus completing the process of RFID asset management.
It’s also worth noting that there are different types of RFID tags, two main ones being passive and active. As well as various frequency types depending on how the tags will be used; low, high, and ultra-high.
RFID asset tags have larger storage capacities when compared to other asset tagging solution such as barcodes. As well as offering a greater read range, as opposed to a barcode or QR code that would need to be in the line of sight. Although RFID tags are a more pricey investment than barcodes, they do provide businesses with various benefits. Such as tracking assets in real-time with greater accuracy and having the ability to collect data from more than one tag at once.
QR Codes
Similar to barcodes, QR codes are printable labels that can store a large amount of asset data. Using QR codes to track assets in the workplace can be inexpensive, particularly as most data on a QR code can be updated and collected via a mobile device. This makes the process of QR code asset management relatively easy-to-use while streamlining tracking processes.
NFC Tags
NFC (Near field communication) is a technology that has most recently been adopted globally by the smartphone market, mainly for the use of payments. But, it’s this worldwide recognition that has made NFC asset tracking tools so efficient. By being accessible on modern mobile devices, there is no need for specific readers or scanners and it doesn’t require training.
Like RFID tags and QR codes, NFC tags enable employees to register data in real-time and streamline the access of information from their asset management systems. Although these asset tags can be expensive, they do provide better capabilities for use outside and in adverse weather conditions.
GPS Trackers
GPS trackers can be found in a variety of popular modern-day tools such as smartphones and satellite navigation systems. They work by communicating with satellites that orbit the earth to triangulate an exact position.
These battery-powered trackers can be attached to assets to build an effective real-time location system (RTLS) and are ideal for businesses that have a lot of high value moving assets. Such as tracking equipment across construction sites and identifying a vehicle fleet.
Who Uses Asset Tracking Software?
Hospitals and Healthcare
The medical equipment found in healthcare and hospital facilities has significant value, which is one of the reasons why implementing an asset management system in healthcare is vital. The range of assets in a medical setting is vast and includes critical machinery, medication, medical waste, computers, PPE, and patient documents. Not only does Asset Tracking Software reduce unnecessary spending on inventory and replacing lost equipment, but it also helps to reduce patient wait-time and improve the efficiency of operations.
Schools and Educational Facilities
Limited budgets and spending can restrict schools in their acquisition of assets, making cost management vital in the education sector. But, with an effective system to manage assets, schools are able to save money by increasing the accountability of their assets and reducing the amount of lost or stolen equipment. Including computers, textbooks, furniture, and office supplies.
IT Departments
The main issues facing IT businesses are ensuring compliance and maintaining essential IT assets. As well as the unplanned costs of replacing them. By implementing an asset tracking system, IT asset managers are able to achieve greater lifecycle management. This allows them to know when to replace outdated computer hardware and when to purchase updated equipment.
Retailers
Whether a brick and mortar store or an e-commerce site, it’s important for retailers to gain better visibility of assets. By using the right asset tracking tools for retail operations, retailers can not only see the benefits of cost-saving but also become more customer-focused and enhance their overall customer experience.
What Are The Top 10 Best Asset Tracking Software Products?

Assetcloud by Waspbarcode
Waspbarcode provides a suite of products to support a variety of uses such as warehouse management, stock room management, equipment and tool tracking, and manufacturing process management.
These systems have been successfully implemented within a wide range of industries including Construction, Emergency Services, Manufacturing, Retail, and Healthcare.
MOST SUITABLE FOR
Organisations requiring a simple Asset & Equipment Tracking System.
DEPLOYMENT OPTIONS
Cloud based and Web-based
PRICING
From £795

Assettrac
Assettrac's system is designed to solve the challenges of tracking fixed assets and revenue-generating assets. It has been successfully implemented in a wide variety of industries including Education, Healthcare, Logistics, and Retail.
The Assettrac system includes RFID, QR Codes, and Barcode technology. The scanning technology is independent of the scanner and third-party scanners can be used, too.
Assettrac has completed projects with Air Liquide, Ofcom, BMW, Southwark Borough Council, and Amnesty International. As well as over 1,000 other organisations worldwide.
MOST SUITABLE FOR
Organisations requiring a fully integrated, highly configurable asset management system, supporting complex workflows for fixed as well as revenue-generating assets.
DEPLOYMENT OPTIONS
On-Premise and Cloud-based
PRICING
From £1,900

CoreRFID
CoreRFID provides advanced RFID-based asset tracking software with applications in industries such as Manufacturing, Heavy Lifting, and Logistics.
CoreRFID also supplies a wide variety of RFID tags and RFID scanning hardware to meet an increasingly large range of tracking and tracing requirements.
It works with both small and large companies alike and is pleased to include Ocado, BAE Systems, Vaillant, London Underground, Costain, and Ainscough Crane Hire among its customers.
MOST SUITABLE FOR
Organisations wishing to track high value, high volume, and safety critical assets with complex workflows.
DEPLOYMENT OPTIONS
Cloud-based and Web-based
PRICING
From £10,000

Real Asset Management Series 5000
Real Asset Management (RAM) was founded in 1981 and has grown to become a leading supplier of asset and maintenance management software to both the public and private sectors.
MOST SUITABLE FOR
Organisations wanting to use an asset tracking system to track 1000+ assets
DEPLOYMENT OPTIONS
On-premise and Web Based
PRICING
Bespoke Pricing

FMIS Asset Tracking System
Financial and Management Information Systems - or FMIS - was founded in 1986, and specialises in finance-aware enterprise asset management systems for use with any size of organization, in any industry. Their unique, all-in-one approach allows users to build a system from a set of highly flexible modules providing tracking, financial, and ERP system integration, as well as a host of other features such as stock and inventory control, equipment maintenance, and lease accounting.
MOST SUITABLE FOR
Medium and Large enterprises requiring a fully integrated asset management system with accounting capabilities
DEPLOYMENT OPTIONS
On-Premise and Cloud-based
PRICING
From £3,000

EZ Office Inventory
EZOffice Inventory is a simple to use, web-based asset tracking system. Starting at $35 per month, it suits businesses who are looking to move away from spreadsheets or paper-based methods. The product supports RFID, QR Code, and Barcode. EZOffice Inventory has a mobile app for iOS and Android users. With a team of 21 people, EZOffice Inventory offers comprehensive support to use their asset tracking software system.
MOST SUITABLE FOR
Organisations wanting to track 250+ Assets
DEPLOYMENT OPTIONS
Web-based and Cloud-based
PRICING
From $35 per month

Hilti ON!Track
Hilti’s Asset Tracking Software is made by construction workers for construction workers. Hilti has leveraged its construction expertise of over 75 years to build its asset management software. The system is designed to solve asset visibility and tracking issues for the construction teams. Hilti’s support to get your software up and running as well as use it is one of its core differentiators. Hilti offers onsite consultation to help you choose the right tracking tags for your use. The tags and the software, both are built to perform in dusty and muddy construction conditions.
MOST SUITABLE FOR
Construction Sites with 10+ Workers
DEPLOYMENT OPTIONS
Web-based and Cloud-based
PRICING
Bespoke Pricing

Itemit
Itemit has been designed and built for busy business owners who want a simple solution to their tracking needs. Whether it's a home business, a company with an office, or an organisation with multiple sites; Itemit's asset tracking system aims to help customers get organised.
With capabilities such as historical logging and offline access, Itemit’s asset management tool is appealing to companies with field employees. Other features that deem this system as a high-quality tracking solution include location and mapping, QR and RFID asset tags, instant reports, and assisting to produce maintenance schedules. Businesses can even set reminders and notifications for expired licenses and overdue insurance payments.
This tool can also be useful in a variety of industries, with its ease-of-use capabilities available across both personal and business applications. Current industries using this system include construction, food and beverage, facilities, and charities.
MOST SUITABLE FOR
Small and medium businesses with simple requirements
DEPLOYMENT OPTIONS
Web-based and Cloud-based
PRICING
From £9.99

Hardcat Asset Tracking System
Hardcat offers an easy-to-install and scalable system that makes the process of tracking assets more accessible and convenient through a cloud-based setup. Other deployment options also include web and mobile, offering applications for iOS, Android, and Windows.
Their asset tracking software also utilises the use of hardware tracking equipment, such as barcode and RFID, to better manage assets.
Hardcat’s experience in asset control has proved crucial in the implementation of its asset management system for over 2000 organisations. Featuring in industries such as law enforcement, education, healthcare and hospitality.
MOST SUITABLE FOR
Companies looking for a flexible and cloud-based asset management system to track assets, tools, equipment, property, and evidence
DEPLOYMENT OPTIONS
Web-based and On-premise
PRICING
From £3,000

Assetspire
Assetspire was launched in 2008 with an aim to provide accurate and scalable asset tracking software to businesses of all shapes and sizes. Based in Norwich, UK, the team has experience working across a variety of industries including Gaming, Professional Services, Government, and Financial Services. Working with small and large businesses alike, Assetspire boasts Santander, Betfair, Capita, and Bank of England among the users of its asset tracking system.
MOST SUITABLE FOR
Small and medium businesses with simple requirements
DEPLOYMENT OPTIONS
Cloud-based
PRICING
From £25 per month