The Best Asset Tracking Solutions for your Small Business

Whether your small business is scaling or if you’re looking for ways to save time and money, asset tracking solutions can help. With asset tracking solutions, you’ll be able to:

  • View what you own, where it is, and who is using it
  • Create a visible audit trail of your assets
  • Create a history for assets, for more-informed decision-making
  • Assign assets to colleagues, so you know who is responsible for what
  • And more!

Overall, asset tracking solutions make your business’ processes faster, simpler, and more effective. Any business can scale and improve with asset tracking, whether you’re in the construction industry, software development, or even the healthcare industry.

 

What Kind of Asset Tracking Solutions are Out There?

To have a solution, first, you have to have a problem. The ideas behind asset tracking solutions are to mitigate and minimise these problems. 

So, there are many potential problems related to assets. For example, an incomplete fixed asset register will cause you problems. If your fixed asset register is on a spreadsheet, it’s prone to human error. If it doesn’t update in real-time, you’ll easily log assets that aren’t on there or not log assets that should be on there. 

These “ghost assets” and “zombie assets” can cause you financial difficulties, such as fines or the inability to claim tax breaks on asset usage.

Therefore, an asset tracking solution which will mitigate this is a software which will automatically create your fixed asset register on-the-go. Whenever you log an asset or update it, your fixed asset register will update simultaneously.

 

business asset tracking solutions

 

There are many, many different solutions you can use asset tracking for, so we’ll go into two of the most frequent solutions below.

 

IT Asset Management

IT asset management software allows you to log, view, and edit all of your IT assets. This means that you’ll be able to see who has which asset and where the asset is, as well as adding necessary information to the asset, such as warranty expiry dates.

To do this, you’ll likely be using QR code asset tags. You create an asset profile on your IT asset management software to create a digital version of the asset. Then, you’ll be able to add any necessary information, such as dates for PAT tests, warranties, and user manuals, and you’ll be able to assign the asset to a colleague. 

After this, you’ll be able to tag the asset with a QR code asset tag. This means that every time you or your colleague scans the tag, the asset’s last seen location will update and the asset’s digital profile will appear on your phone, ready for editing.

So, for example, to report a fault, you only need to open your asset tracking solution, scan the tag, and press “Raise issue”. Then, you’ll be able to type in the issue and report it to your maintenance team.

issues management software

Equipment Tracking

The principle behind equipment tracking is much the same. You’ll use asset tags to track the locations of assets and to add the necessary information.

Where equipment tracking may differ is that you may want to mitigate theft or see how long an asset has been in a location for, for invoicing purposes. 

For the former, to mitigate theft, you’ll be able to use GPS tagging and tracking to view asset location, rather than needing to interact with the asset manually.

For the latter, you’ll be able to use bespoke location features to report on how long an asset has been in a location for, in case you need to invoice someone who has hired your equipment or a maintenance team.

Your asset tracking solutions for this will be usable within the same software, meaning you can track both IT assets and equipment. 

itemit’s asset tracking solutions allow you to solve many of the issues you may be experiencing. This way, you’ll save time and money with the control and accountability you’ll gain over your assets.

To find out more about itemit’s asset tracking solutions, you can contact us here, or fill in the form below to start your free trial.

Or, you can check out these blogs:

How you Can Save Time and Money With an IT Asset Register

The Benefits of Small Tool Tracking Software for your Business

The Future of Our UK Asset Management Software

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