Asset tracking is the process of logging unique assets and tracking them. You can track all different types of information and data with asset tracking software, from depreciation information to maintenance history.
But, what kind of assets can you track? The core concept of asset tracking is that all of your assets are unique and have unique information related to them, but what should your assets be?
Fixed Assets
First of all, you might want to consider tracking fixed assets with asset tracking software. This is because you'll likely have existing fixed asset tracking operations and so a transfer makes sense.
If you're using a spreadsheet, you're actually losing money on your asset tracking. This is because spreadsheets have gaps and create risks such as ghost and zombie assets.
Therefore, while you need to pay for asset tracking software, you do retrieve a return on investment as these gaps are filled by an automated system.
You can then track asset lifecycles and depreciation information to ensure that your assets are still running exactly how they should be!
Fixed assets will be permanent business assets in the sense that they won't be sold as stock, but will remain in the business to indirectly create revenue. As such, they can be anything from a stapler to a desk.
IT Asset Management
IT assets are a subset of fixed assets and include IT hardware and software. Because of this, the type of information you're adding will be slightly different.
Instead of depreciation data, perhaps, you'll want to add critical warranty dates and other important fields of information. You can also track PAT test reminders, too, and set them to repeat at whatever interval you need them to.
If you're tracking software, you can track logins and renewals, for example. So, in this sense, you're tailoring a reminders feature. Because you have the ability to name one renewal and another PAT test due, you can tailor the software to your assets instead of the other way around.
