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Compare & shortlist the UK’s best Asset Tracking Software to find the right system that can effectively track your business’s inventory of fixed assets and equipment.

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UK's Best Asset Tracking Software Profiles

Assetcloud by Waspbarcode
Assetcloud by Waspbarcode
Most Suitable For

Organisations requiring a simple Asset & Equipment Tracking System

Customer Feedback

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Waspbarcode provides a suite of products to support a variety of uses such as warehouse management, stock room management, consumables tracking, equipment tracking, IT tracking, 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.

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Most Suitable For

Organisations requiring a fully integrated, highly configurable asset tracking system, supporting complex workflows for fixed as well as revenue-generating assets.

Customer Feedback

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Assettrac's asset tracking 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 asset tracking 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.

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Most Suitable For

Organisations wishing to use asset tracking software to track high value, high volume, and safety critical assets with complex tracking workflows.

Customer Feedback

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CoreRFID provides advanced RFID-based asset tracking software with applications in industries such as Manufacturing, Heavy Lifting, and Logistics.

As well as providing asset tracking software solutions, the company also supplies a wide variety of RFID tags and RFID scanning hardware to meet an increasingly large range of tracking and tracing requirements.

CoreRFID 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.

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Real Asset Management Series 5000
Real Asset Management Series 5000
Most Suitable For

Organisations wanting to use an asset tracking system to track 1000+ assets

Customer Feedback

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Real Asset Management (RAM) was founded in 1981 and has grown to become a leading supplier of fixed asset and maintenance management software to both the public and private sectors.

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FMIS Asset Tracking System
FMIS Asset Tracking System
Most Suitable For

Medium and Large enterprises requiring a fully integrated asset tracking system with accounting capabilities.

Customer Feedback

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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 organisation, 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.

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EZ Office Inventory
EZ Office Inventory
Most Suitable For

Organisations wanting to use an asset tracking system to track 250+ Assets

Customer Feedback

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EZOffice Inventory is a simple to use, web-based asset tracking software. Starting at $35 per month, it suits businesses who are looking to move out of spreadsheet or paper-based tracking methods.

The product supports RFID Tracking, QR Codes and Barcodes. 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.

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Hilti ON!Track
Hilti ON!Track
Most Suitable For

Construction Sites with 10+ Workers

Customer Feedback

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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 tracking tags and the software, both are built to perform in dusty and muddy construction conditions.

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Most Suitable For

Small and medium businesses with simple tracking requirements.

Customer Feedback

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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 tracking software 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.

The Itemit asset tracking solution 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.

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Hardcat Asset Tracking System
Hardcat Asset Tracking System
Most Suitable For

Companies looking for a flexible and cloud-based asset tracking system to track assets, tools, equipment, property, and evidence.

Customer Feedback

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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 tracking system for over 2000 organisations. Featuring in industries such as law enforcement, education, healthcare and hospitality.

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Most Suitable For

Small and medium businesses with simple tracking requirements.

Customer Feedback

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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.

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A Buyer's Guide to Finding the Best Asset Tracking Software

Buyer's guide

Viewed as a branch of asset management, asset tracking software helps users to track and collect data regarding their most valuable business assets. Using technology such as barcoding and radio-frequency identification (RFID) to retrieve real-time data, businesses aim to improve asset reliability and efficiency throughout the workplace. In this guide to asset tracking software, we’ll cover:

What Is Asset Tracking Software?

By implementing asset tracking software into their day-to-day operations, asset managers and business owners are able to efficiently keep track of all physical assets in real-time throughout the workplace.

Typically, the main purpose of an asset tracking software solution is to answer the question; "how many (product) do I have?". But, as well as providing accurate inventory management, an asset tracking system also collects data regarding condition, owners and maintenance history. This data is then stored into a centralised system that is available to anyone with access, be it employees or managers.

Whether the owner of a micro-business, small business, or large business, the ability to collect and store valuable data regarding mission-critical assets can help any organisation in a number of ways. Including:

  • Gaining a total cost of ownership of each asset
  • Producing an accurate and automated inventory management system
  • Tracking the usable life cycle of each asset
  • Improving maintenance to avoid equipment failure and reduce asset downtime

The ability to digitally track movable equipment and hardware throughout the workplace is only possible when an asset has been physically tagged. And, with modern asset tracking systems, there are an array of various tools available to tag business assets. These include:

How does a Bluetooth asset tracking system work?

What Are the Benefits of Asset Tracking Software?

The benefits of installing an asset tracking software tool are vast, as many business owners look to improve the reliability of their assets while also reducing costs such as replacing lost equipment and experiencing unplanned maintenance.

Here’re five of the most beneficial factors that an asset tracking system offers:

  1. Store All Asset Data in One Easy-To-Access Centralised System

    Instead of having copious amounts of asset data - asset performance, location, condition, maintenance, etc. - stored across different computers and spreadsheets, asset tracking software tools allow you to store all of it into one complete directory. This is particularly handy for a company that has a large number of assets to track and for any business that needs instant and easy access to asset data. What’s more, with a cloud-based asset tracking system, all of this data is stored on servers that make it accessible at any time via a mobile device.

  2. View Real-Time Asset Data as It Happens

    With the use of tracking and tagging technologies - such as Barcoding, RFID and GPS - businesses will be able to track and collect data as soon as an asset arrives or leaves the workplace. Not only does this work well for employees tracking down the location of physical assets, but it’s also a useful feature for field workers who can view real-time data regarding asset maintenance and current conditions while away from the workplace.

  3. Reduce the Number of Assets That Are Misplaced, Stolen, or Lost

    By having a consistent and accurate overview of each physical asset’s location, the number of assets that are either lost or stolen will significantly decrease. This, in turn, can help to reduce the unplanned expenditure of replacing any lost equipment. Having the ability to accurately track the location of equipment can also be useful when tracking an item that has been detached from a big batch order, saving significant manpower and time.

  4. Calculate the Lifecycle and ROI for Each Valuable Asset

    Asset tracking software offers the right tools to track all assets moving in and out of the business, all the way from acquisition to disposal. This allows managers to collect a complete overview of each piece of essential equipment and build an accurate asset life cycle. During this life cycle, an asset will go through many factors such as maintenance and operations. By collecting this data, business owners will be able to plan more effectively in their procurement and replacement of future assets.

    Use asset tracking software to understand the life cycle of an asset

  5. Replace Error Prone and OutDated Asset Tracking Spreadsheets

    A common practice in many businesses for tracking their physical assets is to store all data into asset tracking spreadsheets. Although cheap and familiar, using spreadsheets can cause a lot of harm in the long run - especially to the accuracy and management of inventories. Some of the disadvantages to using spreadsheets to track business assets include undetected errors on large quantities of data, duplicated files and a lack of edit history.

Typical Features and Functionality of an Asset Tracking System

Most asset tracking software tools are packed full of essential and useful features, such as:

Cloud-Based Mobile Applications

There are many benefits of opting for a cloud-based or SaaS over an on-premise solution, one main factor being mobile accessibility. All staff either in the workplace or out in the field can access real-time asset data hrough the use of a mobile device, such as a smartphone or tablet, and an internet connection.

Read more: Why Cloud Based Asset Tracking is Preferred by 90% of Users

Barcode and RFID Tracking

The use of barcodes, QR codes and RFID with asset tracking systems has increased the tracking possibilities of all business assets. By tagging each physical asset with either a printed barcode or RFID tag, staff and technicians are able to view every piece of data about a specific asset by simply scanning it with a handheld device. This saves time in travelling between the job at hand and the office computer, as well as increasing data accuracy.

Read more: What is RFID Asset Tracking & How Does it Work?

GPS and 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 the device and emit signals to computers, handheld devices or smartphones. GPS trackers can be beneficial in a number of industries including postal and courier services, allowing managers to track their drivers and delivery routes.

Read more: How GPS Fleet Tracking Can Improve Fleet Management

Automated Inventory Management Alerts and Notifications

Through the use of tracking devices and accurate inventory management, asset managers are able to set custom triggers for a variety of different factors. For example, a notification can be sent to the right team member when an asset's warranty expiry is approaching. The same can be done for when a rented piece of equipment is coming to the end of its lease. As well as setting automated ordering processes for when a low-stock alert is processed.

Who Are the Users of Asset Tracking Software?

Asset tracking software isn’t just for use in a specific area of business. In fact, many different forms of industries and organisations can benefit from an asset tracking system to better manage their assets.

Asset Tracking Software for Hospitals and Healthcare

The medical equipment found in most healthcare and hospital facilities has significant value, which is one of the reasons why implementing an asset tracking system in healthcare is so important. The range of assets in a medical setting is vast and includes critical machinery, medication, medical waste, computers, patient documents and more. Not only can asset tracking software reduce unnecessary spending on inventory and replacing lost equipment, but it can also help reduce patient wait-time and improve the efficiency of operations.

Read more: Asset tracking for the healthcare sector

Asset Tracking Software in Education and Schools

Limited budgets and spending can restrict schools in their acquisition of assets, meaning cost management is vital for the education sector. But, with asset tracking software, schools are able to save money by increasing the accountability of their assets and reducing the amount of lost or stolen equipment - such as computers, textbooks, furniture and office supplies.

Read more: Asset management for schools and education

Asset Tracking Software for IT Companies

Like in most industries, the issues facing many IT centres are solely down to the maintenance of essential equipment and the unplanned costs of replacing them. By implementing an asset tracking system, IT asset managers are able to gain a better understanding of the life cycle for each important IT asset. This allows them to know when to replace outdated computer hardware and whether to spend money on much-needed software upgrades.

Read more: A buyer’s guide to IT asset management software

Asset Tracking System for Retail Businesses

As a business owner of a brick and mortar chain or an e-commerce store, it’s important to gain a better understanding of your retail assets in order to improve your business’s bottom line. By implementing an asset tracking system retail operations, businesses can not only see the benefits of cost-saving but also become more customer-focused and enhance their overall customer experience.

Read more: A guide to retail asset tracking

Knowledge Guides for Asset Tracking Software and System Users

What Is RFID Asset Tracking & How Does It Work?
30th Nov 2020

Learn EVERYTHING about using & deploying Radio-frequency identification (RFID) asset tracking; the 'go-to' tech for asset-heavy businesses.

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Why Cloud Based Asset Tracking Is Preferred By 90% of Users
19th Feb 2020

It’s true that 90% of Comparesoft users prefer a cloud-based solution for managing and tracking fixed assets across their desktops, Macs, iPhones, and tablets. But, why? And what does a cloud-based asset tracking system offer in comparison to other setups?

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How to Utilise Google Maps for Asset Tracking in Business
12th Jan 2020

A key part of asset tracking software is being able to track assets in real-time, and there’s not many better platforms than Google Maps to help achieve this. In fact, it utilises GPS to provide real-time information for 99% of the world. Find out how this free application can enhance your own tracking requirements.

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How GPS Fleet Tracking Can Improve Fleet Management
11th Nov 2019

As with any organisation managing a vehicle fleet, you’ll want to collect data about every vehicle and driver including real-time location. Discover why a GPS asset tracking system is the preferred technology to track fleet assets and the many advantages it provides to all types of businesses.

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

There aren’t many tracking technologies available that are as accurate, error-free, quick, and cheap as Barcodes and QR codes. Learn about printing unique codes, using barcode scanners and even downloading iPhone scanning applications that work with asset tracking software.

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

Along with Barcode, RFID, GPS, and WI-FI, a Bluetooth asset tracking system aims to enhance your tracking processes. From inventory and staff tracking to providing real-time location data, learn all the capabilities of Bluetooth and how it works alongside asset tracking software in the workplace.

Read More
The Benefits of Tracking Aviation Assets Within Airports
21st Jan 2020

An airport is one of the busiest workplaces in the world, with thousands of assets and visitors. In fact, London Heathrow welcomed 88.1 million people in 2018 alone. Find out just how important it is for these huge organisations to deploy asset tracking systems and track their aviation inventory while also keeping on top of maintenance schedules.

Read More
RFID in Retail: Why It’s Good for Retailers and How to Use It
25th Feb 2020

Noticeable as a tag on a pair of jeans or when an alarm system is activated, RFID is ever-present in retail stores. From River Island’s 28% increase in stock accuracy to a 5.5% increase in sales for Marks and Spencer, discover how powerful using RFID and asset tracking software in retail organisations can be.

Read More
What is Asset Tracking?
2nd Nov 2018

What is asset tracking software? When should you deploy an effective tracking system? Which tracking technology matches your requirements? Understand the basics and learn how Barcodes, RFID, GPS, and Bluetooth are used in different industries to track various business assets.

Read More
Retail Asset Tracking
25th Feb 2020

Discover how the implementation of an effective asset tracking system can help achieve greater customer service satisfaction levels within the busy retail industry.

Read More
Asset Tracking for the Healthcare Sector
10th Jul 2020

From tracking hospital equipment to dental chairs, learn how asset tracking software and systems are utilised in the healthcare sector to help reduce patient wait-times. As well as minimise excessive spending on replacing lost or stolen medical equipment.

Read More
Why IoT Is Essential to Your Asset Tracking Processes
16th Sep 2020

With over 10 billion devices worldwide connected to the internet, the use of Internet of Things (IoT) in businesses is rising - including the use of tracking devices and asset tracking software in the workplace.

Read More
The Benefits of Asset Tracking Labels and Tags
14th Dec 2019

Asset tracking labels, along with tags and asset tracking software, can assist businesses of all sizes to better manage and monitor assets.

Read More


Frequently Asked Questions


What Is the Best Asset tracking Software?

Finding the best asset tracking software for your business depends entirely on how you want to track your assets throughout the workplace. The term ‘best asset tracking software’ is subjective, as what may be the best tracking tool for one company may not necessarily be the best solution for you.

There are a variety of different asset tracking systems available that provide a range of features and benefits. To determine which is right for you, you should consider:

  • The type of business assets you want to track

  • How many assets you want to track

  • What type of asset tracking technology you need (GPS, RFID, Barcode, Bluetooth, NFC)

  • What asset data you want to collect to build an accurate asset register

  • The industry you’re operating in

  • The type of software you require (Cloud-based, On-premise, Mobile, etc.)

  • If you need additional tracking hardware (Barcode scanners, etc.)


Why Do Businesses Use Asset Tracking Software to Track Assets?

Whether you’re a small business with a handful of physical assets or a much larger organisation with thousands of assets spread across multiple locations, the ability to track assets can be crucial for business operations.

Among other benefits, an asset tracking system allows you to create a comprehensive directory. This directory can include any data you wish to input about your assets, including current working conditions and real-time locations.

As well as having all data in one accessible directory, there are many other advantages to implementing an asset tracking system. Including lower admin costs, improved efficiency and accuracy, improved customer service, and better cost savings by reducing the rate of lost or stolen assets.

For a business that relies heavily on its assets, such as a coffee shop needing its coffee machines to operate at peak asset performance, asset tracking is essential. And there are many different ways a company can track its assets.

These include GPS tracking, Barcode labels, RFID hardware, Bluetooth receivers and WIFI. But, depending on how a business operates, some tracking solutions will be more beneficial than others.

For example, a van hire company would have more joy using a real-time GPS location tracking system, as opposed to using barcode labels to track its fleet vehicles. Whereas the use of printed barcodes and a handheld tracking device can be more beneficial for a business wanting to track its stock inventory.


What Is a GPS Asset Tracking System?

Global Positioning System (GPS) technology is a popular tool that can be found in many common devices such as smartphones and satellite navigation systems.

In essence, GPS works by communicating with satellites that orbit the earth to triangulate an exact position. And, in terms of tracking fixed assets, it can be an extremely efficient tool. Especially for companies who rely heavily on this technology, such as postal delivery services and fleet management organisations.

One main benefactor of using GPS technology to track assets is the ability to receive real-time location updates. This can usually be achieved with the use of a small tracking device. These devices are physically attached to an asset, usually a large piece of equipment, and emit a signal to a receiver - either a designated handheld device, smartphone or computer.

For example, a company that rents out cars may attach a tracking device to one of its vehicles before handing it over to a customer. This way, in case this car is lost or stolen, the company will have an exact live location of where the car is.

GPS asset tracking systems are usually adopted by organisations that have moving valuable assets, such as airports or local councils. Whereas other businesses, such as a clothes retail store or IT centre, would opt for alternative tracking options to manage its assets - like Barcode and RFID tracking.


What Is a Barcode Asset Tracking System?

Barcodes can be found in many places, like retail industries, and are known for being able to store reference points to specific data via Morse code-style thin and thick bars.

When scanned, light reflects back off a barcode and into a light-detecting component that reads its binary digits. These digits are then forwarded to a computer, which detects the sequence and displays the code's stored data.

In terms of using barcodes to track assets, the process works by entering an asset’s data into a system. The system then generates a unique and printable barcode for that asset. So, when the barcode is scanned, the system will show a read-out of that asset’s data. This data can be current location, purchase date, and even maintenance schedules.

Barcode asset tracking can be effective for two reasons. Firstly, you can edit data without having to generate another barcode. Secondly, it can be a very cost-efficient way to track assets as opposed to RFID and Bluetooth. Especially with the use of durable and weather-proof barcode labels that can increase longevity.

As well as cost-efficiency, there are many other benefits of barcode asset tracking. Including the ability to instantly obtain asset data and simplify recorded-keeping.

But, somewhat seen as a major advantage of tracking assets with barcodes, is the reduction in data errors through manual input. Not only can errors produce false data, but they can prove costly to a business in the long term. The typical error rate for manual data entry is 1 per 300 characters. Whereas, the error rate of a barcode scanner can be as accurate as 1 error in 36 trillion characters.


What Is an RFID Asset Tracking System?

The first use of Radio Frequency Identification (RFID) can be traced back to the second world war when radar was used to identify plans from a distance. Nowadays, RFID can be found in a marathon runner’s vest, a parking lot access fob, and a pet’s collar. And, most efficiently, it is also used in industries to track valuable assets and inventory.

RFID is a non-contact wireless technology that utilises radiofrequency waves to transfer data. This means RFID asset tags can be read from a distance without the tag being in view. Depending on the type of tag, this distance can be anything from a few centimetres to 1500 feet.

In terms of using RFID to track business assets, this range of distance is key. A system that uses Active RFID tags is able to identify and locate asset within seconds. Whereas other tracking systems, like barcodes, require each asset to be physically scanned.

Like barcodes, RFID asset tracking tags have a pre-generated code that references a unique asset. And, once identified by the receiver, the data from this asset is then accessible to read and update. Data can include location, condition, maintenance reports, purchase information and more.

There are three types of RFID tags; Active, Passive and Semi-passive. Active tags are battery-powered asset tags that send a continuous signal for a receiver to capture. Passive tags have no battery and only respond to a receiver once a signal has been sent out. And Semi-passive tags are a hybrid of the two; battery-powered and no continuous signal.

Although an RFID asset tracking system can be more expensive, it can also be more beneficial. For instance, Active RFID tags are tough, durable and weather-proof. This means they won’t need replacing as often as a paper barcode. This also makes them ideal for being used in different temperatures and for tracking larger assets such as vehicles and shipping containers.

As well as durable tags and accessing data over a distance, RFID asset tracking has many benefits. Including read and write capabilities and the ability to edit data of a pre-generated tag. You can also set up alerts with some RFID tags, which can alert you in real-time as an item moves location without authorisation.


What Is a Bluetooth Asset Tracking System?

Bluetooth is a relatively simple way for devices to link together over a short distance. Today, this technology can be found in a range of common devices such as wireless headphones and computer peripherals; mouses, keyboards and printers.

Installed inside a Bluetooth receiver and transmitter, are radio antennas. These antennas simultaneously send and receive signals between one another. This allows the two devices to talk to each other.

However, a receiver will only find the signal of a transmitter if it is within range. And, depending on the device, ranges can vary between an average of 30 ft to 1000 ft. The latter being capable with Bluetooth 5.0 Low Energy(LE).

This short distance means, in terms of tracking, Bluetooth lacks the range of technologies such as GPS. But, because of the shorter transmission signal, Bluetooth devices require only a small amount of power to operate. This, in turn, allows their batteries to last much longer.

The improvements in Bluetooth LE technology have been a key instigator for why so many businesses are using Bluetooth to track assets. With devices being able to survive long periods with relatively small batteries, they can operate for upwards of a year without the need for replacement. And, unlike GPS trackers, Bluetooth trackers can be a relatively cheap investment.

By strategically positioning receivers around the workplace, businesses are able to track all discoverable Bluetooth devices. These devices are then attached to assets, with their tracking data logged. For using Bluetooth in larger workspaces, more receivers may be required to work together and create a larger field of range.

When interacting with devices, receivers can record and send data back to a single device. This can be either a computer, smartphone or tracking device. The data may include real-time location, location history, and the identification of employees who have used the asset.

Here’s a handy infographic to show how exactly Bluetooth asset tracking works.


Can Assets Be Tracked With a Mobile Device

The capabilities of a modern smartphone can seem endless. Features include high-level security identification, huge banks of memory, and faster graphic-processors than a Microsoft Xbox 360 games console. In fact, the smartphone in your pocket most likely has more computing power than Nasa’s Orion spaceship that launched in 2014.

With all of this power, it comes at no surprise that businesses incorporate smartphones into their operations. As of 2014, 60% of employees use mobile devices for work-related activity.

In terms of using a mobile device to track assets, this can be achieved in a few ways.

With built-in radio antennas, one possible tracking solution is Bluetooth. As seen in features like Apple’s “AirDrop”, mobile devices can generate a two-way connection between it and another device through Bluetooth. This means, for example, a phone can be configured to act as a receiver and track the signal of a transmitter.

Another example of tracking with a smartphone is through GPS. With a GPS-enabled tracker, employees can locate trackers in real-time. This can be beneficial for managing a fleet of vehicles or for tracking a postal delivery. As well as tracking, mobile devices themselves can also be tracked via an already-implanted GPS chip.

Smartphones are also capable of using their cameras to scan codes. This makes them an extremely useful tool for tracking assets with Barcodes. By scanning a code, employees can read and update the data that is associated with that unique code.

The benefits are vast for tracking assets with a smartphone. Including the ability to quickly build an accurate asset register. And, helping to reduce data errors with less need for manual input. But one main advantage is the ease of accessing data for employees in the field. By having instant access to a company's asset register, field employees can read and update data anywhere at any time.


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

It may come to a point when, after days or weeks of research, all asset tracking software options look the same. But, with our software comparison tool, we can provide you with a list of asset tracking systems that best match your requirements - within minutes.

Our aim is to make the process of finding the best asset tracking software for your business as easy and as simple as possible. And this can be done by using our questionnaire.

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 asset tracking 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 of 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.


Can Asset Tracking Software Help Eliminate Ghost Assets?

Ghost Assets are fixed assets listed on a company’s register that can not be physically accounted for. Although this could be for a number of reasons, inevitably the asset is either missing or unusable. And, if the system has not been updated to show this, a Ghost Asset is created.

Although it seems unfeasible for a missing asset to appear on a register, Ghost Assets can form from a number of errors. Including unrecorded trade-ins, mismanaged disposals, and inventory re-arrangement. On average, in 2012, 65% of fixed asset data was incomplete, inaccurate, or missing.

As well as adding to an in-accurate register, Ghost Assets also prove harmful to costs and productivity. This includes paying unnecessary tax. For example, if a company can not account for 20% of its fixed assets then it will pay more tax than it needs to. The same theory can be applied to insurance premiums.

With this in mind, it is best to act quickly and eliminate Ghost Assets. This is done by reviewing the current list of fixed assets 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.


What Is the Best Way to Track Physical Assets in Real-Time?

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

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 asset lifecycle of each asset 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.

As a result of tracking assets in real-time, 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.


What Are the Advantages of Using Software to Track Business Assets Instead of Spreadsheets?

Although cheap and easy-to-use, tracking assets via spreadsheets can prove costly to business operations. This is shown by the regularity of input errors and data duplications. As reported in 2015, human error was one factor in costing UK businesses an estimated £98.6 billion a year.

Spreadsheets, mostly associated with small businesses, are commonly used to manage inventory and track stock. In fact, these operations are so common that specific templates can be found online and downloaded within minutes. But, albeit a step-up from pen and paper, spreadsheets can actually do more harm than good to business operations.

As a company grows, so does the number of its assets. This requires large amounts of data to be manually imported into spreadsheets. But, with this data input, comes inevitable errors. And, even worse, these errors can be undetectable in such a large quantity of data. Eventually filling the spreadsheet with false information and rendering it useless.

Other disadvantages of using spreadsheets to track assets include the lack of usability and accessibility. A spreadsheet will give no indication that more than one user is editing data at the same time. There is also no audit trail, making it difficult to keep accurate counts of inventory.

However, there is a spreadsheet alternative that offers much more reliability; asset tracking software. With a software solution, the quality and accuracy of asset data is significantly increased. This is made possible with features such as cloud and mobile access for multiple users, customised audit reports, and real-time tracking.

With access to real-time data, businesses are able to track and manage assets much more effectively. For example, by using GPS and RFID tags, managers can be alerted to the change of an asset's location. This information is then automatically updating in the system's centralised database. Unlike a spreadsheet, which would need to be updated manually resulting in the likelihood of an error.


What Is the Difference Between Cloud-based and On-premise Asset Tracking Systems?

There are two types of asset tracking systems most commonly used in business; on-premise and cloud-based. The former hosts all asset data on local servers. Whereas a cloud asset tracking platform stores data on a provider’s servers and is accessed via the web. The need for fast data solutions has led to an increase in demand for cloud-based software. So much so that, as of 2014, 82% of providers built their applications specifically for cloud delivery.

On-premise systems are solely operated at the site of a business and installed only on their computers. This allows for greater control and security, having data stored in-house and on their own servers. However, this privilege can be expensive. An on-premise solution requires a large area of land, an on-site IT maintenance team, and server hardware. All of which can result in huge upfront costs.

A cloud asset tracking solution, on the other hand, requires no investment in servers or operating systems. This means it has very minimal start-up costs and is usually acquired on a subscription-based model. Being accessible via the web, cloud systems can also be implemented and deployed instantly. All that is usually required is an internet connection. This also means operations are not restricted to the workplace, as data can be accessed from anywhere.

With greater accessibility, cloud platforms can be efficiently utilised by field workers. Employees can access and update data from any location with a laptop, tablet or smartphone. This makes it particularly helpful for updating maintenance requirements, for example, on a construction site. Unlike an on-premise system that would require employees to use the software on installed locations only.

As well as wider accessibility, cloud platform vendors also provide an active support line for assistance. So, with this in mind, it’s no wonder 90% of Comparesoft customers prefer a cloud-based solution.


What Industries Benefit the Most From Implementing an Asset Tracking System?

The use of asset tracking software can benefit many businesses and industries that rely heavily on the upkeep of their assets. That includes schools, manufacturers, IT centres, healthcare facilities and brick and mortar retail shops.

Although mainly used to compile a complete asset library, the various features offered by an asset tracking system opens the door to a vast array of users. Such features include:

  • Real-time tracking

  • Calculated ROI for each asset

  • Scheduled maintenance programs

  • Forecasting and reporting

  • Mobile accessibility

But, not all industries will benefit from the same features. For example, a manufacturing organisation will prioritise the need to schedule preventive maintenance programs over the need to access data via a mobile device. Whereas a retail company will rely on mobile access to enhance their point-of-sale (POS) strategy.

Other industries that can benefit from tracking assets include:

Schools and Educational Facilities

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. Which is where an asset tracking system can offer a solution.

By providing technologies such as QR codes and RFID trackers, school asset managers can keep track of their most valuable assets. While also being able to collect all tracking data in one comprehensive system that is available to all teachers, department heads and administrators.

Other benefits of using asset tracking in schools include:

  • Operating an asset booking system with a check-in/check-out program

  • Generate asset reports from each school department

  • Use IoT devices to track assets in real-time

  • Sharing forecasts with authorities such as local districts and MATs

Brick and Mortar Shops/Retailers

Enhancing the overall customer and POS experience is vital for businesses in the retail industry. Not only can this be achievable through help desk and service desk solutions, but also with an asset tracking tool.

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.

Other advantages include:

  • Minimising stolen and lost assets in a bid to reduce shrinking

  • Accessing real-time data such as location, condition and quantity

  • Alerting managers and staff when an asset has been removed without being scanned


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 vendors asset tracking system, 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.


Is NFC Technology the Best Way to Track My Fixed Assets and Inventory?

Like other tracking technology used to track fixed assets and inventory, such as Bluetooth LE and Wi-Fi, Near Field Communication (NFC) transmits data wirelessly using radio waves. As a newer form of tracking tech, NFC is a subset of RFID and operates at a high-frequency range. But, unlike its technological parent, NFC works only at a very short distance and requires two devices to be within a specific range of each other - typically 4 centimetres.

The use of NFC technology can be seen in most modern-day transactions, such as transferring payments via mobiles or scanning employee badges for building access. As well as being used to track physical items, such as:

  • Commerce products

  • Containers

  • Tools

  • Equipment

  • People

  • Vehicles

  • Spare parts

In terms of using it to track fixed assets and inventory, NFC technology is an affordable and easy-to-use asset tracking system. Whereas other tracking systems can be time-consuming and complicated, the steps needed to implement NFC for tracking assets are simple:

  1. Assign an NFC tag to an asset

  2. Attach the NFC tag to the assigned asset

  3. Scan the tag with an NFC-enabled mobile

  4. Read, update, and edit the data that shows up on the mobile

The use of NFC technology can be seen in most modern-day transactions, such as transferring payments via mobiles or scanning employee badges for building access. As well as being used to track physical items, such as:

Providing You With a Fixed and Precise Location

Once you scan an NFC tag, you’ll be presented with all relevant data relating to an asset. Within that data, will be the exact location of the asset that is associated with the tag. Whereas, if you opted for GPS location tracking, some GPS trackers will struggle to pinpoint an exact location of an asset if it is located indoors or underground, which most inventory is.

No Need for Specific and Expensive Hardware

Whereas RFID tags require specific hardware to extract asset data, NFC readers are typically stored on modern-day smartphones. This greatly reduces the cost of using NFC for tracking fixed assets and inventory.

Easily Edit and Update an NFC Tag’s Data

If an asset has been discontinued or inventory has been moved, you’re easily able to update an NFC tag’s data instead of removing it or replacing it. Whereas, if you were using a barcoding tracking system, a new barcode would need to be assigned, printed out, and attached over the old barcode.

NFC Tags are Quick to Scan

NFC tags are a popular choice because of their quick transaction speeds. For instance, an NFC mobile is always ready to receive a signal and can be scanned right away. Whereas using a mobile to scan QR codes can be time-consuming, having to load an App and focus on the code.

NFC Technology is Small and Inexpensive

Averaging under £0.10 for each tag and not requiring specific hardware, NFC equipment won’t cost as much as other tracking systems. The small structure of an NFC tag also allows it to be placed anywhere without obstruction. Whereas a QR code would need to be printed large enough to be scanned without error.

NFC Tags are Durable and Don’t Require Batteries

The data transferred between an NFC tag and a mobile device is processed via a chip, with no battery power required from the tag. This allows the tag to draw power from the NFC reader and transmit data.

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