Everything you Need to Know About Asset Tracking Software

Asset tracking software can provide you with an instant ROI from the time it saves you alone. Knowing where assets are, who’s using them, what they’re doing, and when they’re due for maintenance can optimise your business.

Equipment, from IT assets to tools to fixed assets, helps your business run smoothly. The ability to add any necessary information against these assets and view it helps you avoid problems, and helps you save money.

How Does Asset Tagging and Tracking Work?

In your asset tracking system, you’ll create a digital “double” of your asset. This is where you’ll add various information and start to collect data.

Here, you can log locations, maintenance, finances, track costs, add comments, and more!

Then, you’ll tag the physical version of this asset. When it’s tagged, you’ll be able to scan this with your app to open its corresponding digital profile, ready to edit it.

In other words, if you notice that an asset is damaged, you’ll be able to scan the asset tag and report this for your maintenance team.

Every time an asset’s tag is scanned, its last-seen location will also update.

Who Needs Asset Tracking Software?

Any business can use asset tracking software!

As the core of tracking assets is gaining accountability and visibility over your operations, and as this visibility allows you to make better-informed decisions, asset tracking can help you scale and save money.

Here are a few of many industries that can leverage asset visibility to save time and money:

Construction Equipment Tracking

Commonly used in construction, equipment tracking prevents common problems such as equipment theft and loss. 

Equipment retrieval is also sped up, as you’ll know where your assets are for collection and use. 

Maintenance is managed, too, minimising asset downtime and keeping equipment running effectively.

Construction companies use equipment tracking to deliver projects on time and under budget, as well as for tracking rented out equipment and for invoicing purposes.

School Asset Management

Schools use asset management to track assets used to teach and to save money. 

It’s crucial that schools increase the longevity of an asset’s lifecycle, and asset management software helps with this.

Schools can track routine maintenance tests, such as PAT tests, to ensure assets are running properly. 

Knowing that assets are running effectively helps with budgetary needs, saving your school money and giving you more peace of mind that everything is well managed.

Healthcare Asset Tracking

With healthcare asset tracking, the requirements are a little different. It’s a fast-paced environment, so it’s crucial to have an asset tracking system that can keep up.

This is why functionality with fixed RFID readers is available, as it automates the required functionality asset tracking software provides.

All it takes is an asset moving from one room to another for this to be logged in an asset tracking system.

Business and Fixed Asset Tracking

When it comes to fixed asset tracking and IT asset management, you’ll be able to use asset tracking software to add a different range of information.

For example, you’ll be able to assign assets to new starters and unassign if they leave, giving you complete visibility over who is using what.

There’s also a lot of financial information you can add to your assets. So, you’ll be able to track depreciation, for example, to know when it’s most economical to replace assets.

High-Value Asset Management

Tracking high-value assets is essential to ensure they reach the correct destinations and that they’re handled with care and respect.

From vintage wines to paintings, you’ll be able to use asset tracking software to create a collection of your online assets.

Why not create an asset register, populated with information, so that when someone asks about your vintage, you need only scan the tag and read off the information?

When it comes to high-value asset tracking, QR codes and barcodes may not apply. As wine doesn’t move around as much and can be put on display, you’ll be able to tag the shelf associated with the wine.

However, with paintings, you’ll be able to consider RFID tracking. With this, you’ll be able to hide the RFID tag under the frame and not affect the value of the painting.

In fact, this is one of itemit’s existing implementations. To find out more about our nomination for this use case, you can do so by clicking the button below:

Church Asset Tracking

Churches can also track their assets as they move around a lot. So, if your assets are getting taken out into the community, you’ll be able to track and monitor these movements.

Ensure your assets are in the right place at the right time, ready for services, entertainment, and community outreach.

Also, you’ll be able to track your valuable assets, much like with high-value asset management, to ensure that your assets are safer and better protected.

NGO and Charity Asset Management

Charities can also save time and money by tracking and managing their assets. Using asset tracking software, charities and NGOs can ensure they have everything they need to help the community.

Knowing which assets a charity owns is essential, as it’s crucial to make sure these assets are used effectively and that their lifecycle is extended as much as possible.

itemit also provides a discount for charities to help them save that little bit extra, so, if you’re interested, hit the button below:

How Do I Save Money?

From the sheer amount of different applications and uses asset tracking has, you’ll start to save money right away.

Asset tracking software can also provide you with GPS tracking so that you can view asset location more frequently and more automatically than if you were scanning a tag.

All of the information and data you collect is then viewable and exportable in an effective reporting page. This is filterable, so you’ll be able to see which assets are on-site in no time, as well as export your fixed asset register for tax and compliance purposes.

Everything comes together in reports, and reports save you a lot of time, a lot of money, and a lot of hassle.

To find out more about how itemit’s asset tracking software can help your business, no matter the industry, you can book a demo with the team by clicking the button below:

You can also contact the team at team@itemit.com or start your 14-day free trial by filling in the form below.

Why not check out these blogs?

The Importance of Construction Equipment Tracking

How To Use Asset Tagging and Management to Scale Your Business

itemit Innovation Provides Off-the-Shelf RFID Reader Asset Tracking Solution

Instant access. No credit card details required.

or, download the itemit app to get started