3 Must-Have Features In Your Asset Tracking Software

Published on February 23, 2021 • 3 min read

There are a range of operations that your asset tracking software must be able to address and improve. From auditing, to fixed asset management procedures, to location tracking, having an effective and easy-to-use asset tracking software is essential.

With an effective suite of features, you will be able to save time and money with your asset tracking software by:

• Reducing asset downtime
• Losing fewer assets
• Reducing retrieval times
• Increasing asset clarity
• Speeding up asset operations

So, what is essential to have in your asset management system?

A Cloud-Based Platform

First of all, your asset tracking system needs to be fast, scalable, and shareable. Primarily, this means having a cloud-based system in place.

The main benefit of a cloud-based asset tracking system is that any updates that happen across the world update in your asset tracking software in real-time.

This means that you can be working remotely or in the office while colleagues onsite are interacting with assets. They will be able to log any interactions for you to see.

So, for example, if your maintenance team is onsite, they'll be able to notify everyone when issues are fixed and minimise downtime by using data processes that any of your colleagues can contribute to.

Location Tracking Capabilities

It is essential that your asset tracking software has location tracking functionality. By using asset tags, you will be able to activate location tracking while also speeding up asset-related operations.

Primarily, you need to be able to update an asset's location upon every scan of its tag. This way, if you're reporting an issue against an asset, your maintenance team can see exactly where the asset is, what the issue is, and when it was reported.

You also need to be able to log how assets move around your sites. This is why you need the ability to mark assets against specific locations, such as a shelf in an office. With asset tags, you will be able to speed up these operations with features such as bulk edit and quick add.

Fixed RFID asset tracking entirely automates this type of asset management, too, as every time and asset moves from one location to another in a building, this will be logged automatically with no manual input. This is incredibly helpful for healthcare asset tracking, for example.

Fixed Asset Tracking Functionality

Finally, you need to be able to run reports, manage data, and customise exportable fixed asset registers. This is why your asset tracking software needs to have fixed asset management functionality such as depreciation and reporting features.

A robust, automated and exportable fixed asset register reduces the chance of ghost and zombie assets, giving your business accurate tax breaks, and also proves to insurers that you own your assets and are using them responsibly.

To find out more about how itemit's asset tracking software can help your business, you'll be able to contact the team at team@itemit.com. You can also fill in the form below to try out all of our features with a 14-day free trial.