Why Your Business Should Use Asset Tags

Why Your Business Should Use Asset Tags

Why Your Business Should Use Asset Tags

Imagine if you referred to your employees or team members as “employee no. 5” or “reception desk assistant” rather than their actual names. Weird, right? Why not use an individual’s own unique and beautiful name to mark their identity. Names make life so much easier! *laughs*

In the same way you can refer to each employee’s identity with their name or unique characteristics, why not do the same for your business assets? itemit has a way!

With asset tags, you can give each asset its own unique digital identity. So rather than confusing identical-looking keyboards with each other, you could identify them easily with asset tags: they are very useful and so much fun!

The Best Asset Tracking Implementations And Use Cases


The Advantages Offered by Asset Tags

As is commonly known, asset tracking software has opened up new horizons for businesses worldwide. And asset tags are playing a vital role in unlocking these new possibilities. 

The benefits of asset tags share a common quality with the universe: they’re constantly growing. 

Apart from the commonly known benefits, as we’ll discuss below, there are many more creative ways to use asset labels. New companies that utilise asset tracking technology introduce innovative ways of using the system, which keeps adding to the never-ending list of its benefits.


Each Asset Gets a Unique Identity

Your business assets are only the second-most important part of your enterprise after your workforce. So like referring to employees with their names is better, so is the case with assets. 

Installing an asset tag on an item is like giving an employee an ID card. Just scan the tag with a camera or RFID reader and you’ll get all information on the asset in a jiffy. This functionality is especially useful for companies that work with multiple identical-looking assets.

For instance, differentiating computer screens of the same model and make is almost impossible. More often than not, employees tend to mix up such assets during repairs and maintenance which can lead to a lot of hassle. Not only that but you lose sight of each individual asset’s unique historical life. Asset tags put an end to this. 


Reduce the Risk of Human Error in Asset Tracking

Even if you’re using an asset tracking software, you might end up updating asset details on the wrong asset profile. This usually happens with assets that look the same.

For instance, if you have two printers of the same model and one of them needs to be repaired, you might end up marking the other one for repairs. Differentiating identical assets from each other is much easier with asset tags. 

This way you can mark the right printer for repairs. When the repair team comes to pick up the printer, they can also scan the tag so they’re sure they take the right device for repairs. All in all, asset tags will reduce the risk of errors and improve asset tracking processes significantly.


Brand Recognition with Asset Tag Customisation

itemit gives you the option to customise your asset tags. This means you can add your company’s logo, moto or contact number on the tags. 

Apart from serving as a great marketing tool, you could also include other useful information on the tag. Asset tags can be personalised to have a serial number or ownership details. Better yet, you could add your contact number on it to call if someone finds a lost asset. 

To get your custom tags quote, reach out at team@itemit.com.


A Cheap Way to Instantly Boost Workplace Productivity

Every business owner wants to know the cost of investment when trying out something new for cost-benefit analysis. This is where a crucial question has to be asked: Whether or not an idea will generate a good return on investment?

As much as they are useful, you’d be surprised to know that asset tags don’t require a substantial investment. Asset tags are a very low cost solution, and the benefits of using them outweigh the costs by tons.

Only the more advanced asset tags, like RFID asset labels, are more expensive. 

Small and medium businesses can get started with low-cost QR asset tags right away. You start reaping the benefits of asset tagging from day one, but once you discover its full potential, you’ll be glad you made this decision. 


Meet itemit’s Asset Tags

itemit offers a variety of asset labels featuring different functionalities, sizes, materials and costs. You could go for vinyl QR code stickers that come in 23mm square and are great for indoor assets like hardware and office stationery. 

We also have anodised aluminium QR asset tags that are better suited for outdoor use and can withstand the effects of the elements. Last but not least, itemit’s RFID asset labels are of the most sophisticated sort. These are great for discreet tagging of high-value assets

To find out more about itemit’s tags, you can contact the team at team@itemit.com. You can also start your very own 14-day free trial by filling in the form below. 

Play tag with your assets!

Asset Tags

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How A Fixed Asset Register Saves Your Business Time And Money

How A Fixed Asset Register Saves Your Business Time And Money

How A Fixed Asset Register Saves Your Business Time And Money

A business operates and generates revenue with help of different assets. These can be sophisticated industry-specific machinery to something as trivial as a notepad. Out of all business assets, fixed assets have the most significant operational and, in turn, financial impacts on your enterprise. 

If you want to enhance your company’s efficiency, reduce operational costs and maximise profits, a robust fixed asset management system lies at the core of it all. Read on to learn how keeping a fixed asset register will save your business time and money.

How To Keep Your Fixed Asset Register Accurate


The Significance of Tracking Fixed Assets

As important as these assets are, it’s imperative to define what they are. Put briefly, these are physical assets owned by a company that cannot be readily converted into cash. 

In accounting terms, they fall under the umbrella of noncurrent assets and are items that a company intends to use for more than a year at the time of purchase. Tangible objects like laptops, furniture, vehicles, and buildings are some examples of fixed assets.

A special consideration about these assets, which is also the reason why they need to be tracked in a separate fixed asset register, is that they lose value over time. Although this is not true for all fixed assets, it still is a major characteristic that highlights the need for recording the assets’ value depreciation as they age. This can only be done with effective fixed asset management.


What’s a Fixed Asset Register and How Does it Save You Time And Money

A fixed asset register allows you to log and track unique asset profiles on a streamlined online database. You can log your fixed assets such as laptops, equipment, and furniture and add specific details about each asset and give it a unique digital identity.

With seamless integrations, the system behind fixed asset management software helps it automatically update asset details throughout the database. As a result, high accuracy and accountability enable a business to save the most time and money. Let’s get into the details.


Gives You Accurate Asset Records

Some financial benefits of using a fixed asset register are immediately apparent, and some are discovered in later stages of using this technology. Having extremely accurate asset records available to you at all times is one of the former.

A lot of companies end up stacking shelves upon shelves of similar hardware or other assets. This happens just because they are unable to cross-check what they need and what they don’t at the time of purchase. 

On the contrary, with all fixed assets logged on to the register, you have a clear overview of what your business has and what it doesn’t. This helps you avoid duplicate purchases. Moreover, logging assets with important information like price of purchase, warranty info and maintenance requirements help you get the most of each asset.


Makes it Easy to Keep Asset Data Up To Date

Even if you’re already tracking fixed assets with manual asset tracking methods, maintaining up to date asset records is an uphill battle. But it becomes a piece of cake when you’ve got advanced asset tracking software.

Outdated fixed asset records can lead to a range of problems, all of which ultimately lead to a loss of time and money. For instance, ghost and zombie assets, an outcome of below-par fixed asset management, can lead to higher insurance premiums and extra tax-related fines.


Helps Record Fixed Asset Depreciation

As mentioned in the introduction to fixed assets, these items lose value over time. This is also known as fixed asset depreciation. Tracking this depreciation over their life cycle and reporting accurate values for tax and insurance purposes is a very important financial process that helps businesses save money in the long term. 

You will inevitably struggle to record the fall in fixed assets’ value if you don’t use the best asset tracking software. This leads to you paying exorbitant insurance premiums and taxes on assets that are no longer in use. Invest in a good asset management system and save yourself a lot of money!


Maintain High Transparency

When it comes to financial efficiency and productivity, it all boils down to accountability among employees, and overall transparency of business operations. If you’re tracking your fixed assets with spreadsheets or other conventional methods, transparency becomes a distant reality. 

However, using fixed asset management software brings transparency to every nook and cranny of asset management. The ability to assign assets to employees brings accountability to the table. And when every employee can access and record asset details, transparency is manifest.


itemit’s Fixed Asset Register

itemit’s fixed asset register is a powerful but easy to use software solution for all your fixed asset management needs. You can get the highest level of transparency possible with advanced RFID technology, and other asset labels. 

To find out more about how itemit can save your business time and money, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Fixed Asset Register

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

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The Best Asset Tracking Implementations And Use Cases

The Best Asset Tracking Implementations And Use Cases

The Best Asset Tracking Implementations And Use Cases

Fixed asset registers and IT asset tracking remain some of the most popular and common implementations of asset tracking. However, there are many other ways organisations and individuals can and have implemented asset tracking technology. 

It won’t be wrong to say that there are unlimited possibilities with asset tracking. Every now and then an innovative company comes up with its very own interesting ways to use asset management software

We’ve compiled a list of the best asset tracking implementations and use cases for you to take inspiration from. Some or all of these asset tracking software use cases might not directly be applicable to you. However, you can still take from an interesting idea and employ it a bit differently to serve you and your organisation better.

What Does Asset Register Software Do For Your Business?


The Most Interesting Use Cases for Asset Tracking

  • Tools Tracking
  • Vehicle fleet management
  • Vehicle access control
  • Container tracking
  • Assessing equipment utilisation
  • Horticulture asset management

 


Tools Tracking

If you’re in a tool-intensive business such as construction or related services, your equipment is the backbone of your business. Small, but important tools like screwdrivers and drill machines are easy to misplace, especially when they’re being used by multiple workers at a time. 

itemit’s tools tracking system lets you record and track every piece of equipment from the smallest spanner to the biggest wheelbarrow you’ve got. This application of asset tracking has proved to be a game-changer for many construction services. The time and money that was previously lost trying to find and recover lost tools are reduced to a minimum so employees can focus on the more important tasks at hand. 

Using asset tracking software to keep a check on tools and equipment allows you to accomplish much more including the ability to book tools, check bookings, and keep an eye on equipment check-ins and checkouts.


Vehicle Fleet Management

Taxi services, transporters, constructors, couriers, supply chain companies and many other organisations have a fleet of vehicles to manage. More often than not, each company operates multiple vehicles of the same model. With different uses, duration of use and locations, managing vehicles fleets efficiently is a task virtually impossible to accomplish without asset tracking software. 

Although each vehicle already has a unique registration number to identify it, asset labels are a much better option when you have to track vehicle details like the driver’s details, model number, maintenance information and more. Moreover, with RFID asset tracking you can automate fleet management completely and take it to the next level. 


Vehicle Access Control

Say bye-bye to vehicle stickers and parking permits, because the future of vehicle access control is here. Using RFID asset labels to identify and permit vehicles to enter a building or parking area is a great implementation of asset tracking. 

An RFID asset label can be scanned as soon as it comes close to a fixed reader. A vehicle can be identified even if its tag is not directly in the reader’s line of sight. While it might need an extra bit of tech knowledge, the reader can be connected to the barrier through simple programming.


Container Tracking

Whether you’re a supplier or a buyer, while you’re sending and receiving containers, tracking them is a piece of cake with itemit’s asset tracking software. Unsupervised transit of containers between suppliers and purchasers can lead to the disappearance of containers, as is commonly observed. This can lead to massive losses, for all parties involved.

Containers can be tagged with asset labels, and be scanned and marked as ‘in transit’ as soon as you send them. When the receiver gets the container, they can scan it again and mark it as received. Both the sender and receiver can collaborate on itemit’s online platform or app to make sure no container goes untracked.


Assessing Equipment Utilisation

Some of the benefits of having all your tools and equipment recorded on a single platform are obvious. But as you use our asset tracking software, you’ll discover that there are some other, more powerful benefits of tracking equipment with itemit

For instance, itemit gives you valuable insights on what equipment was used the most during a period, and which tools went under-utilised. This information goes a long way in helping you identify strengths and weaknesses in equipment utilisation. Plus, the information empowers you to make well-informed decisions when purchasing new equipment for your organisation.


Horticulture Asset Management

Horticulture is a very tagging-intensive field. From seedlings to young plants and even huge trees need to be tagged in order to identify their species, cultivar, date of plantation and many other details. If there is one department that could benefit from the use of asset tracking software, it’s the horticulture department.

No need to manually write and record difficult names and intricate details with asset tracking. All you need to do is allocate each plant its asset tag, record its name and other details. You can also take a picture of the plant to visually record its growth over time!


itemit’s Asset Tracking Software

itemit’s asset tracking software is a very flexible system that can be shared by all members of your team. With this shareability, you can split the system between different departments for different uses!

Our support team will gladly set you up and ensure that you’re getting the most money out of the system possible. To find out more, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles

What Is RFID And How Does It Work?

What Is RFID And How Does It Work?

What Is RFID And How Does It Work?

How do you track assets without pasting QR codes over them? How do you scan an asset tag if it’s not directly in your line of sight? How can you record the location of your assets automatically? There’s a single solution to all of these questions: RFID asset tracking

The most technologically-advanced organisations around the globe are using RFID technology to upgrade their asset tracking solutions, increase productivity and maximise profits. While the trend towards RFID asset tracking is rising, some businesses are still doubtful about it. Primarily because they’re not sure how the technology works and how can they use it in their day-to-day work.

How Does An RFID Fixed Asset Tracking System Work


What is RFID?

RFID stands for Radio Frequency Identification. It’s a system of data communication whereby data stored in an RFID asset label is transferred to an RFID reader through radio waves. Unique radio waves emitted by the tag allows the reader to identify individual assets. 

The complete system comprises three units, the RFID tag, RFID reader and the antenna. Although the technology has various applications, we will focus on how it works with asset tracking for now.


How Does RFID Asset Tracking Work?

You might already be aware of how QR code or barcode technology works. When a QR code is scanned by a camera, or when a barcode is read by laser light reflections, the reading device identifies the item it’s associated with. 

An RFID system works in the same way, the only difference is that it reads radio waves instead of images or laser light. Instead of QR codes or barcodes, you are given RFID asset tags that can be installed unobtrusively on an asset. For instance, if you want to track a painting, the tag can be attached on the reverse of the frame. 

The RFID tag emits unique low-frequency radio waves that can be read by the reader even when the tag is not directly visible. The RFID asset tracking system records information like asset identity, location and other details and stores it automatically within an online database. All of this is done with very little manual intervention.


More About RFID Asset Labels and Readers

itemit’s RFID asset tags have two units inside: the RFID chip and the antenna. The chip, also known as Integrated Circuit, stores all the essential data about the asset. The antenna receives and transmits radio waves to and from the chip. These are passive asset labels, which means they have no power source of their own and are powered by the radio waves they receive. 

The mention of the antenna might suggest a long protruding stick attached to the asset tag. However, the entire RFID asset label is no more than a 96x24mm self-adhesive sticker that does not weigh more than 2g. Our RFID tags can be read from up to a distance of 6m and are compatible with metal, plastic and ceramic surfaces. 

An RFID reader, on the other hand, is a larger device that sends, receives and interprets radio waves to display readable information. itemit offers fixed readers, as well as handheld RFID scanner systems to suit your needs.


Applications of RFID Asset Tracking

RFID asset tracking gives you next-level automation that improves your asset management operations a lot. In this section, you’ll learn about some of the many applications of RFID asset tracking. This will help you better understand how this technology can be utilised in your business.


High Value Asset Tracking

When you have large collections of very expensive artwork hung on walls, the last thing you want to do is stick barcodes/QR codes on to the artwork. RFID gives you a solution that means you can  attach RFID tags to the reverse of artwork and put the painting back on the wall. Now when you need to stock take or audit your collection, you can simply wave your RFID reader and the asset’s tag will be detected even without line of sight.


IT Asset Tracking

When you have large collections of very expensive artwork hung on walls, the last thing you want to do is stick barcodes/QR codes on to the artwork. RFID gives you a solution that means you can  attach RFID tags to the reverse of artwork and put the painting back on the wall. Now when you need to stock take or audit your collection, you can simply wave your RFID reader and the asset’s tag will be detected even without line of sight.


Vehicle Tracking

Using RFID technology has three major benefits. 

  • Vehicle access control: With RFID tags installed in a vehicle, automated systems can scan the tag to know whether a vehicle is permitted to enter a building or parking area or not. 
  • Vehicle identification: When you’re working with a lot of vehicles, trying to remember details like a model number or engine power can be hard. However, identifying vehicles and accessing their information by scanning their RFID tag makes life much easier. This application comes in handy for companies like car dealerships, car rental agencies, and car washes. 

Vehicle tracking: RFID technology won’t be able to track vehicles over long routes and in real-time, for that you’d need GPS trackers instead. However, if your vehicle passes through ‘choke points’ on your sites, the RFID tags can be detected and that vehicle’s location updated.


itemit’s RFID Asset Tracking System

itemit has the world’s simplest RFID asset tracking system. Created by industry-leading RFID specialists, our off the shelf solution will give you the highest level of automation in asset management almost instantly. 

Fill in the form below to start your 14-day free trial risk-free. You can also contact our team at team@itemit.com if you’ve got any questions or need some advice.

What Is RFID?

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What To Add To Your Asset Register

What To Add To Your Asset Register

What To Add To Your Asset Register

Your asset register is a key tool in your asset management operations. With an asset register, you get more visibility over what your assets are doing, who has them and where they are.

Now, you can use asset tracking software to maintain and update an asset register automatically, too, so you don’t even need to go into any spreadsheets and manually change things.

With asset tracking software, you simply need to scan asset tags to create a robust and transparent audit trail of where assets have been and whether they’ve been seen or not.

How To Keep Your Fixed Asset Register Accurate


What Is An Asset Register?

In short, an asset register is a list of your company’s tools, equipment, and other forms of assets. You can create an IT asset register or a fixed asset register simply by populating your asset list with that type of equipment.

You can then use your asset list for tax, insurance, and accounting purposes to name a few. This is as an asset register is essentially just a list of equipment and critical data logged against that.

Spreadsheets used to be the gold standard for asset lists, but with the creation of software and apps, quickly became outdated. This is as maintaining a list of all of your assets and critical data related to them quickly gives rise to a wide range of issues. These will result in gaps in data and accountability issues.


What Should You Add To Your Asset Register?

So, when you’re creating a list of assets, what should you add to it? The short answer is that it’ll depend on your business and the problems you’re trying to solve with an asset register.

Therefore, if you’re working in a school, you’ll want a school asset register of IT equipment and whiteboards, for example. You may want to create a list of your IT assets, too, for IT asset management purposes if you’re in any business.

Or, you can create fixed asset tracking operations for clearer tax and insurance returns and more visibility over how your assets are depreciating.

The best place to start is by looking at what problems you need to solve. If it’s related to lost or misplaced assets, your asset register may be industry-specific or relevant to your business’s particular assets. If you’re hoping to improve your fixed asset tracking processes, you can do so by only adding fixed assets to your asset register. And if you want to track your employees’ assets and accesses, you can build an IT asset register.


Using Asset Tags

Once you’ve built your asset register, the next step is to monitor it and maintain it. The fastest way you can do this is with the use of asset tags. With asset tags, you can view and edit asset data simply by scanning a QR code or barcode.

Every time an asset’s tag is scanned, the last seen GPS location updates and the user who scanned the tag, alongside the time of the scan, is all logged. This means you get an audit trail that you can run reports on and maintain.

Every scan also opens up an asset’s profile, meaning if you spot a lost laptop in your building and want to see who is responsible for it, all you need to do is scan the tag.

This helps you keep your asset register relevant, usable and up to date, helping you avoid risks such as ghost and zombie assets.


itemit’s Asset Tracking Software

itemit’s asset tracking software gives you the ability to do all of this and more. With itemit, you can view asset data and manage reports of this information.

itemit is easy to use and effective at helping you track your assets, meaning you can keep your asset records correct and up to date with ease.

You can scale itemit and use it to track any different type of asset, meaning that no matter the asset register you’re creating, you can do so using itemit.

To find out more, you can contact the team at team@itemit.com or fill in the form below to start your very own 14-day free trial.

Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

or, download the itemit app to get started

Related articles