Over 1593 Businesses Have Used Us to Find Asset Tracking Software
What Is Asset Tracking Software?
Asset Tracking Software enables businesses to track all their physical assets in one system by using a tagging system like barcodes, QR codes, RFID tags, NFC tags, or GPS trackers to equipment, inventory, vehicles, and people.
Essentially, Asset Tracking Software is designed to easily and quickly provide an answer to the question; "how much of (asset) do I have and where is it located?".
A sophisticated asset tracking system provides the features and capabilities to build an asset register that can be accessed anywhere at any time via a mobile or desktop app. That includes asset data such as 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 labels and tags combined with Asset Tracking Software. The way each asset tagging tool operates can vary, but they all ultimately have the same outcome. To start with, 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
How Asset Tracking Systems Are Designed to Improve Inventory Management
Although a business’s stock may be limited to just a few hundred assets, preserving and utilising each one is essential for generating revenue. This is why inventory management is critical for all.
With an asset tracking system in place, businesses can reap the benefits of inventory management. Including:
- Reducing the time it takes to look for assets with real-time tracking
- Reducing the cost of replacing lost, stolen, or misplaced inventory
- Preventing spare part shortages
- Accessing inventory data on mobile devices
- Tracking stock as it moves between warehouses and stores
- Accessing stock from point-of-sale (POS) tools
Implementing Asset Tracking Software to improve inventory management is important for all types of businesses that rely on their assets. But, choosing the right system depends on the size of a company and the resources available.
For instance, a large organisation needing to monitor hundreds-of-thousands of expensive assets may choose to opt for a top-of-the-line RFID asset tagging solution. Enabling them to track and monitor multiple assets at once. Whereas a small business may be better implementing a less-expensive barcode label system. As well as choosing a cloud-based Software-as-a-Service (SaaS) product with a low-cost monthly subscription payment model.
What Are the Benefits of Using Asset Tracking Software?
Replace Outdated 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 a Barcode, RFID, QR Code, NFC, or GPS Tracking Solution That Suits Your Needs
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.
View, Update, and Export Asset Data From Anywhere With Mobile Access
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 Locations, Warranties, Purchase Orders, and Other 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.
Set Inventory Management Alerts and Stock Level Triggers
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 Software also helps to quickly eliminate ghost assets, which prove harmful to costs and productivity. This is done by reviewing the current list of assets you have and then performing a physical audit to compare the two sets of data. Once identified, the ghost asset’s data can be edited to match its current state. And, as a bonus, this process can be instantaneous if using a mobile or handheld device.
Asset tracking systems can also be set up to alert inventory managers when stock is running low. As well as providing instant access to supplier details when it comes time to replenish stock.
See how retailers benefit from better stock control →
Recommended Asset Tracking Software Products & Providers
Lime
The Product
A specialised solution for tracking high value, high volume, highly mobile assets.
Ideal For
Organisations looking to capture and convert real-world asset data and distribute it to digital systems
Industry Fit
Manufacturing, Healthcare, Rental & Leasing, Automotive, and Aerospace
Pricing
From £102 per month
Vision Pro
The Product
An integrated asset, audit and risk compliance management solution that supports site- and portfolio-level processes.
Ideal For
Organisations looking to enhance operations with live asset, audit and risk compliance data
Industry Fit
Manufacturing, Education, Retail, and Energy
Pricing
From £295 per month
EZOfficeInventory
The Product
An asset tracking and management solution that streamlines asset check-in/check-out and provides ready-made, self-service reporting.
Ideal For
Organisations with 250+ assets or items allocated internally to different user groups and locations
Industry Fit
Manufacturing, Healthcare, Education, IT, Engineering, and Entertainment
Pricing
From £31 per month for 250 assets or items
itemit
The Product
A simple solution for tagging and tracking any asset.
Ideal For
Individuals, teams and departments looking for a self-service asset tracking and management solution
Industry Fit
Engineering, Entertainment, Healthcare, Charities, and Domestic Services
Pricing
From £21 per month
TracLogik
The Product
A tailored solution for real-time tracking of movable assets and personnel across any location.
Ideal For
Organisations looking to track movable assets in real-time
Industry Fit
Manufacturing, Engineering, Healthcare, Retail, Aerospace, Marine, and Storage
Pricing
From £100 per month, plus initial hardware costs
Nanolink
The Product
Real-time/live Bluetooth asset tracking with self-service implementation.
Ideal For
Organisations with real-time asset tracking requirements
Industry Fit
Manufacturing, Engineering, Buildings & Facilities, and Industrial Machinery
Pricing
From £4 per user, per month
Assettrac
The Product
Tailored asset tracking systems with full service implementation and ticketless support.
Ideal For
Organisations with asset location- and status-driven workflows
Industry Fit
Healthcare, Education, IT, Government, and Industrial Machinery
Pricing
From £2,500 per annum
AssetCloud by Wasp Barcode
The Product
A complete asset tracking solution designed to adapt, extend and integrate.
Ideal For
Organisations looking for a proven, flexible asset tracking solution that is easy to use and adapt
Industry Fit
Manufacturing, Education, Emergency Services, Food and Beverages, and Entertainment
Pricing
From £765
Software Features and Functionalities That Impact Your Asset Tracking Requirements
Equipment Checkout and Monitoring
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 →
Access to Planned Maintenance Schedules
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.
Generate Barcodes and 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 →
Customised Push Notifications and 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 Trackers
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 →
How Asset Tracking Software Is Used Across Multiple Industries
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.
Construction Sites
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.
Learn More About Using Asset Tracking Software
RFID Asset Tracking: How Does It Work & What Are the Best Solutions
As companies continue to strive for complete management of their revenue-critical assets, RFID asset tracking systems has proven itself as a ‘go-to’ technology. With benefits that include reduced labour time and real-time location tracking, it’s no surprise.
Barcode Asset Tracking: What Is It & How Does It Work?
There aren’t many technologies available that are as accurate, error-free, quick, and cheap as Barcodes. Learn about printing unique codes, using barcode scanners, and even downloading iPhone scanning applications that work with Asset Tracking Software.
Why Cloud Based Asset Tracking Is Preferred By 90% of Users
It’s true that 90% of Comparesoft users prefer cloud-based Asset Tracking Software for managing physical assets such as desktops, Macs, iPhones, and tablets. But, why? And what does a cloud-based asset tracking system offer in comparison to other setups?
How and Why You Should Utilise Google Maps for Tracking Assets
A key part of Asset Tracking Software is being able to track assets in real-time, and there are 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.
Why GPS Trackers Are the Key to Efficient Fleet Management
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.
How Bluetooth Asset Tracking Can Enhance Tracking in the Workplace
Along with Barcode, RFID, GPS, and WI-FI, Bluetooth Asset Tracking Software aims to enhance your asset management processes. From inventory and staff tracking to providing real-time location data, learn all the capabilities of Bluetooth and how it operates in the workplace.
Tracking Aviation Assets in Airports With Asset Tracking Tools
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 Software and track their aviation inventory while also keeping on top of maintenance schedules.
Why Retail Asset Tracking Is Key to Better Stock Control
Discover how the implementation of effective Asset Tracking Software can help achieve greater customer service satisfaction levels within the busy retail industry.
How Healthcare Asset Tracking Overcomes Equipment Management Challenges In Hospitals
From tracking hospital equipment to dental chairs, learn how asset management 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.
What Is Asset Tagging & Why It’s Essential for Asset-Intensive Businesses
Tagging assets is an important step to gaining complete visibility of mission-critical assets, along with the implementation of Asset tracking Software. But, what is the asset tagging process?
Active vs. Passive RFID Tags: What’s the Difference and Which to Choose
For decades, asset-heavy businesses have used radio-frequency identification (RFID) to monitor and track their assets. Yet, the indecisiveness of choosing either an active RFID tag or a passive RFID tag has remained.
Speed and Visibility: Using QR Codes to Track Your Assets
Choosing a QR code tagging system alongside an Asset Tracking Software solution gives businesses a quick, convenient, and affordable way to monitor their assets and inventory.
Why NFC Tags Should Be Considered for Asset & Inventory Tracking
NFC is just one of many tagging technologies to use for tracking assets, but it's also one that offers convenience and security at low costs.
How Equipment Checkout Systems Ease the Process of Booking & Checking Assets
An equipment checkout system offers a detailed and easy way to book and check assets. It provides real-time visibility to reduce the loss of equipment. As well as enabling advanced booking of assets in a calendar format.
How Small Businesses Can Benefit From Using Asset Tracking Systems
Discover how Asset Tracking Software can benefit small businesses to help track, monitor, and manage their physical assets.
3 Tool Tracking Approaches to Stop Theft & Reduce Replacement Costs
Know the 3 distinct approaches taken to improve your tool tracking efforts & address the issue of tool theft among self-employed tradespeople.
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