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5 Reasons Your Business Needs Asset Tracking Software

By Dr. Alex Wong
February 22, 2023 • 3 min read
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5 Reasons Your Business Needs Asset Tracking Software
Home 5 Software & Tools 5 5 Reasons Your Business Needs Asset Tracking Software
Asset tracking can seem like a bit of a task. You need to track all of your assets so that you know where they are. However, the whole tracking process can seem impossible. This may particularly be the case if you have a lot of assets or work in multiple locations. Additionally, if the building you work in is large, tracking your assets can be difficult.

This is where using asset tracking software can make a difference. With the right software, processes can be streamlined and your business can run more smoothly.

Let’s take a look at 5 reasons as to exactly why your business needs asset tracking software.

The Life Of Assets Will Be Extended

When assets are tracked using modern software, it is possible to see whether they are in good working order. Users can potentially alert the maintenance team should an issue arise with the asset they’re using.

A major benefit of this is that assets can be repaired as and when it is required rather than as per a yearly schedule. As a result, the life of assets can be extended and it’s all thanks to asset tracking software. Furthermore, there is a real potential here for money to be saved. When assets are repaired as and when it is required, they are less likely to need replacing. This means that the funds that would have been allocated for maintenance could be used elsewhere.

Business Asset Tracking

Levels of Productivity Will Skyrocket

Anyone who tracks assets using asset tracking software may no longer need to log their tasks manually. It is possible to undertake a wide range of tasks without the need to write down what asset has been taken. The employee who needs to use the asset can simply check the asset out of the storeroom at the touch of a button.

The need to find the right piece of paper or log book vanishes. This particular task can be undertaken within moments and the asset can be tracked to a specific user. This feature also ensures that the employee can continue with their work rather than having to take time to stop and fill in a form.

Operations and Processes Will Be Streamlined

When tracking software is used as part of the working day, it is possible to see which assets have been checked in and out. It is also possible to see which assets need to be sent to another location. For example, if 6 tablets are required at Site A, logging into the software can show you whether there are indeed 6 tablets there. Should there only be 4 tablets at Site A, you can send them there and track each tablet’s progress along the way. In other words, it may be possible for you to see exactly where the tablets are and whether they have arrived at the chosen destination.

Lost Assets Will Be Recovered

When the right asset tracking software is used, it allows you to see where all of your assets are. Each asset can have an RFID tag or QR code attached to it. It’s the codes or tags that ensure tracking your assets is possible.

One of the major benefits of being able to track your assets is that lost assets can be recovered. Users of tracking software can see the lost asset’s last-known location. Employees can work out where they were the last time they used a piece of machinery. All that they need to do is to log into the software, select the asset in question and they’ll be shown its location.

Not only does this feature ensure that time spent searching for the machinery can be saved, it also increases security. Should an asset be stolen, it may be possible to see where it is. Therefore, your business may not need to spend money replacing the asset.

Ghost Assets Will be Located And Identified

Every business has at least a few ghost assets. These are assets that have become damaged, lost, or stolen but are still accounted for. When tracking software is used, it ensures that assets can be retrieved and repaired if necessary. As we have already seen, when an asset fails to work as it should, the maintenance team can be notified. Therefore, the asset that would have been placed on the shelf in the storeroom and unused for 6 months can be repaired.

This feature alone can help to improve productivity. It ensures everyone is more likely to have the tools that they need to undertake their tasks.

As you can see, using tracking software can be very beneficial to your business. There are countless ways in which using the right software can help. If you have any questions about asset tracking software please reach out to us at: team@itemit.com.
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Dr. Alex Wong

Article by

Dr. Alex Wong

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit. For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results. A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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