A lot of organisations don’t have a problem tracking a high value asset. If you spend 1000s on a state-of-the-art, game changing bit of tech, you are likely to know where it is and who is using it! In this case, the challenge is often making sure the asset is properly maintained and covered by insurance in case of a breakdown. 

Of course, this gets more complicated if you have a lot of these large investment items or they are mobile. Then it is easy to lose track over time and unnecessary losses start to build up. That’s when an equipment management software starts to pay for itself.

It is much more difficult to keep track of lower value items. If you are, for example, a construction company, knowing where every hard hat, hammer and drill is, who has it and when it will next be available to book onto a new site, is a mammoth task. The same can be said for all sorts of industries.

With a high quality equipment management software, you can track almost any asset, great and small.

Equipment management software is a means of seeing where all tools and other equipment are, who has them, where they are going etc. Software like this relies on trackers and tags to keep an up-to-date database of a company’s asset infrastructure. This control and insight helps maintain equipment and protect against losses. But what sort of thing can you track?

Anything’s possible! However, there are a few assets that are simply not worth tracking. For example, if the value of the item is less than the cost of tracking. Having said that, asset tracking can be surprisingly affordable, making tracking small items more worthwhile than you might think.

Let’s take a look at a few types of equipment that can be tracked using asset management software.

This sort of tracking is most relevant to construction. However, any business that carries out repairs or requires specialised equipment can benefit from tool tracking.

For example, facility management and utility companies. If you have relied on spreadsheets for asset tracking up until now, then the idea of keeping a record of where all tools are and what individual or team has them, might seem like a false economy. The sheer administrative task of keeping up with this would far outweigh the benefits. However, that objection is a thing of the past!

Tool tracking generally relies on RFID or QR tags. This is a low-cost, effective way of being able to see the last known location of your assets. A tag is attached to the item and this can be scanned using a hand-held scanner or smart phone. 

If you are using RFID tags, it is possible to hide the tag so that they cannot be tampered with or damaged.

Advanced equipment management softwares makes it possible to quickly add new tools to your asset register. This goes a long way to reducing admin and data entry time, meaning that control of your assets does not come at the cost of admin headaches!

Anything! Ok, maybe not anything, but nearly anything. QR and RFID tags are really versatile. Whatever tools your business relies on to get the job done, you can pretty much guarantee there is a tracking solution to suit. 

Our reliance on IT has gone way beyond desktop PCs. The IoT has become a core component of many organisations’ success. Allowing for greater automation, better service and deeper insights.

With this comes a much more complex and much more valuable network of assets. Tablets, smart phones, hand scanners and the like, all fall under the banner of IT equipment tracking and losing track of these items can have a seriously negative impact on both costs on operational functionality.

This grows more complex if you have IT equipment in a lot of different locations. But, even in this case, equipment management software can not only give you control, it can make managing your assets painless.

That depends. If you’re talking about stationary assets like PCs, then you might not need to rely on trackers at all. For mobile IT equipment GPS tracking plays a large role. A lot of devices (particularly SmartPhones and Tablets) have GPS trackers in-built, which makes it possible to access up to date location information via a centralised software. However, for more in-depth information it may make sense to combine this tech with QR or RFID tracking.

With equipment tracking software, you can do more than find out where your IT equipment is and where it’s been. You can add useful reminders which will ensure your equipment remains compliant, reliable and up to code! For example, all companies need to carry out regular PAT testing. By keeping up-to-date records in your asset register, you can set reminders that will take the leg work out of an asset maintenance schedule.

We all know tech can go wrong. One way that a fit-for-purpose software solution can work for you is by allowing users to update you in real time about breakdowns or errors. That way, a small issue need not snowball into a costly one!

This list is a long one! But to give you a flavour of the scope of IT equipment tracking, check out the list below:

• Desktop PCs
• Laptops
• Tablets
• Routers
• Servers
• Modems
• Headsets
• VoIP Phones
• Network Switches
• Printers
• Monitors

The list goes on!

Plant & machinery would include assets like specialist vehicles and manufacturing machinery. A lot of the time, plant and machinery will only move around a single site, for example, from warehouse A to warehouse B. Or never move at all, for example on overhead crane. Of course, particularly in the construction industry, plant assets could potentially go to any site within a company’s area of operation. 

Whatever the case, the right equipment management software provider will be able to provide you with a tool to track your plant & machinery equipment.

If you have read this far, you’ve probably picked up on a theme. Namely, that there is not one hard and fast solution to fit each equipment type. However, when it comes to plant & machinery tracking, QR tags are generally not the best route to go down, if for no other reason than the items are often too large to be looking for a QR code to scan!

Fixed RFID tagging can work great, particularly in a warehouse environment. This works by installing fixed scanners at strategic points. In this way you can track where all machinery is at any given point.

By combining this approach with other equipment tracking methods, it is possible to see in real time the state of all plant and machinery assets. Including vital information like the state of repair of assets and their maintenance schedule.

Again, the sky’s the limit here. The challenge is really picking the right software and method of tracking. Ma. Having said that, the list below gives an idea of the kind of assets you should be able to track using equipment management software:

• Excavators
• Forklifts
• Dumpers
• Cranes
• Loaders
• Boring Machines
• Laser Cutters

Basically, any specialist vehicle or machine required to run your operation, produce your products or carry out your services!

We’ve seen how tool and equipment tracking works, and we have got a sense of what you can track. But why should you bother? Well…

This is a big one. Losing the odd screwdriver might not be too scary, but a lack of vigilance in this area can mean mounting costs that are only going to get worse over time. By tracking tools, you make your staff accountable, which has a huge impact on how often assets go missing. Outright theft may be a rarity (let’s hope so!), but people are much less likely to misplace a tool if they know that it can be traced back to them.

And if something does go missing, equipment management software gives you all the information you need to investigate effectively.

This doesn’t necessarily mean holding staff accountable. It can be as straightforward as having enough information to know where to look.

Having well maintained assets not only has a positive impact on your bottom line, it also has health and safety implications. Having a workable, effective plan for keeping your equipment in good condition keeps your staff safe and your insurance valid!

Through using a modern equipment management system, you can implement easy to follow maintenance schedules that will ensure the integrity of your assets. You can make this visible to anyone in your organisation, spreading the responsibility for looking after your equipment.

Understanding the condition of all tools and equipment does more than make sure that you have everything you need to do what you do to the standard that your customers have come to expect. It also means that you can get ahead of breakdowns before they happen. Meaning that you minimize spend and avoid sudden, unexpected repair costs. 

Not only this, but you can drastically reduce the impact of depreciation.

Share the burden of tool and equipment management by allowing staff across your business to view and update your equipment. Most high-quality equipment software solutions will let you set who can make changes to your equipment data. However, it makes sense to let the people using the tools and equipment update the system if a repair is required. This means you can respond quickly, and effectively.

Another way that an equipment management solution can help you to save time and effort through collaboration, is by sharing equipment manuals and instructions. Contemporary systems make it easy to attach multimedia documentation to individual items. This empowers employees to solve problems themselves rather than delaying and escalating tasks.

itemit recognise that your business is unique. No two solutions are the same. So, you need equipment management software that fits in with the way you work.

Consultation is the first step towards getting a solution that works optimally. That means looking at your entire asset ecosystem, and coming up with the most cost-effective solution that can scale with you.

Getting our clients a demonstrable return on their investment is at the heart of all of our solutions. An equipment tracking system that only provides the bare minimum functionality will seem cheap, but is unlikely to give you the control and insight to get the full cost savings available. Equally, it is possible to over do it, tracking too many assets too often. We work with you to find the right balance between functionality and affordability.

Book a demo today to see all itemit’s features in action. To find out more details, you can always contact our team at team@itemit.com.

Instant access. No credit card details required.

or, download the itemit app to get started

Asset tracking works best when a mix of technologies are used together. As a general rule, the more automated and regular the updates are, the higher the cost. This means that it doesn’t make sense to have automatically updating location trackers on low value tools. Equally, using QR code asset management for vehicles that move around a lot is not a fit-for-purpose solution. 

When developing your asset management infrastructure, you will need to consider the best mix of trackers for your set-up. To do so, you’ll need to get a strong understanding of QR and GPS tracking.

QR code asset management has become a familiar part of the modern world. The technology forms a major element of many organisation’s asset tracking systems. QR codes are made up of dots and black squares. These are unique patterns that represent sets of information, 

After they are scanned, the information is transferred into a human readable state. In the case of asset tracking, the data is sent back to a central database that is accessible via an intuitive software.

There are two main types of QR tracking. Static and Dynamic. The information held on Static QR codes can not be changed. This makes them a perfect solution for storing fixed data. Information like where the equipment should be stored, when it was purchased, manufacturing information and the like.

Dynamic tags are far more flexible. With dynamic tags, the info isn’t ingrained into the code. The information can be updated as many times as required. For example, you could upload and subsequently change the maintenance schedule of an asset, and the scanner would take you to a webpage that shows you the most current information.

This approach is flexible and cost-effective. Using dynamic QR codes with a powerful software solution means you can update asset information at a click of a button. The physical tag can be printed on durable materials like vinyl and metal. So, they can be added onto most assets and be relied on to last. 

However, QR codes require a manual scan to update a central database. They must also be visible so that they can be scanned. This means there is a risk that they can be tampered with or become unreadable over time. RFID tags do not need to be visible, so they are generally a better solution if you need to hide your tags.

The other key drawback of QR tagging is that they cannot give any information on the location of the item. That’s where GPS tracking comes in.

Like QR tracking, we are all using GPS tracking in our daily lives all the time. Most people have an awareness of how this works. GPS stands for ‘Global Positioning System.’ GPS trackers are linked to a series of satellites which send a signal that let us know the location of the tracked object. There is a tracker in every smartphone and SatNav.

The business applications are vast, and being put to use by the majority of relevant companies in one way or another.

When it comes to asset management GPS trackers are most commonly installed in vehicles. This way, organisations can keep track of where their vehicles are at any given time. This makes it possible to improve customer service and increase productivity.

However, this is not the only application of GPS technology. Trackers can be added to individual items and scanners which make it possible to find the locations of smaller items that have been checked out of your central storage facility.

Also, you can avoid the need for a GPS tracker by leveraging smartphones or tablets.

Unlike QR tracking, GPS tracking is automatic. So, you don’t need to rely on manual input to access up-to-date information. Trackers send a ping at regular intervals. This is often about 15 minutes but can be set to suit your needs. 

The other glaring benefit of GPS tracking is that it gives you insight into an assets location. Not only its current location, but where it’s been!

On the downside, GPS trackers are not cheap to manufacture or easy to attach to assets on the fly.

So, QR vs GPS, what’s the verdict?

Well, in practice, the answer is often- both. GPS trackers are best suited to providing location information. QR code asset management is more flexible in that any information can be transmitted with them, and overwritten at any time. Using a GPS scanner or smartphone with GPS to scan a QR code means that you can combine location information with whatever data is stored.

This combines the flexibility and affordability of QR codes with the powerful geo tracking capabilities of GPS. 

itemit works with you to find the right balance between functionality and cost. The goal is to give you control over your business so that you can grow and thrive. No two systems from itemit are exactly the same, but they do have something in common; they find the most cost-effective, fit-for-purpose solution possible.

Book a demo today to see all itemit’s features in action. To find out more details, you can always contact our team at team@itemit.com.

Instant access. No credit card details required.

or, download the itemit app to get started

If you’ve got this far then you are probably trying to understand exactly what asset tracking can do for your business. Well, more specifically, what asset tracking software can do for your business.

Almost every business is keeping track of assets in one way or another. Often, spreadsheets are used to keep a basic register of what assets a company owns. At a certain point though, the lack of asset tracking specific features starts to become an issue for a growing business. Spreadsheets simply can’t keep up with anything but the most simplistic set up.

Let’s look at some of the features that you can benefit from with a dedicated asset tracking software.

The ability to look at what equipment is available and book it ahead of time makes it possible to get ahead of costly errors like double booking. For example, if you are a construction company with 3 jobs booked on the same day- you can assign all the required tools and equipment.

Sounds simple, but this gives you the ability to organise and streamline your assets so that you are getting the most out of them. Say each job requires a disc cutter but you only have 2 available. Booking ahead lets you spot this clash before it happens, giving you the space to move stuff around and manage your customer’s expectations.

Using tagging technologies, it is now possible to know who has ‘checked-out’ items and when- without relying on complicated paper filing systems. Keeping a tight grip on your assets is a no-brainer. Especially if you are serious about reducing leakage. Like it or not, employees are just way more likely to look after a tool if they are responsible for it! 

It’s not about creating a culture of observation. It’s about demonstrating that you care about your equipment, so you want to know who has it, and where it is. Many businesses have found that breakages and losses have drastically reduced through implementing a system for checking in and out equipment.

It happens, stuff goes missing. Mistakes happen. It’s not possible to keep on top of everything all of the time…

Except it is! Asset tracking software can tell you the location of tools and equipment. This gives you control over your assets being slowly lost over time.

With tracking, you have a recourse when you realise that something has gone missing, so that you will likely be able to retrieve it. At least you will be able to investigate effectively. Just check where the item was last seen and who was last responsible for it, and take it from there!

This is pretty much at the heart of asset management software. It feeds into a lot of the other points made. QR codes and Barcodes can be added to assets. Then, handheld scanners or mobile devices are used to send metadata back to your asset register. This makes other features, like checking in and out, possible.

Using a centralised hub to manage all your assets opens up tons of opportunities to react to problems. Personnel can report errors as they happen and you can react. Access warranty and manufacturer information without fuss and track steps taken to resolve issues. Multiple breakdowns can build up into a serious operational concern. Issue reporting and management stops small problems from snowballing!

This is an often overlooked, yet powerful feature that is available through asset tracking software. There are a lot of different applications of this feature. 

For example, you could include uploading a photo in your checking in / out process. This helps you understand when items have been damaged and makes insurance claims hassle-free.

You can give users access to manuals for equipment which can make jobs go quicker as staff can access info without roping in colleagues.

Another way this can help is when equipment breaks down. Add warranty and insurance information to your asset register so that when the inevitable happens, you are ready with a solution. 

Whatever the application, there is a great opportunity here to streamline your asset management through gaining access to associated media files.

GPS tracking is particularly useful for vehicles. Using trackers, you can see where your vehicles are at any given time. Through GPS tracking, you can improve your customer experience and the productivity of your delivery teams.

GPS tracking can also act like QR codes, but without the need to use scanners to check in. So you can see the last known locations of assets without relying on manual actions.

This is often used in conjunction with other tracking methods. Depending on the asset and its function, you can build up a network of trackers that give you total insight into your equipment. 

RFID (radio frequency identification) works by sending out a radio wave that triggers when it finds a tag. This then sends a signal back which is translated into data and sent back to your central database. So, RFID software is the perfect solution for assets that need concealed tags. So you don’t need to have a visible barcode or QR tag! 

Handheld scanners are an indispensable part of modern manufacturing and stock management. They are also an incredibly powerful means of tracking assets. Scanning codes with handheld scanners mean that you can see the location of assets without having to rely on memory or complex reporting.

Fixed RFID points work great in a warehouse environment. It works by setting fixed points that constantly search for tags and report back to you on the last known location. So if an asset crosses the fixed-point, you get an update of the last known location. If this kind of technology is new to you, then the good news is that it can be implemented without major investment. Just start small, get a feel for the benefits, and scale up from there.

This feature is an important one. Your asset register is your central hub. It tells you where everything is, who has and for how long. As such, it is a powerful management tool. Not only this, but it can give you a complete history and forecast of each item. An uncomplicated and intuitive interface is an essential part of an asset register. A great UI will make issues jump out at you, so that you don’t have to do a deep dive to optimise your asset management.

With growth comes change. When your organisation is undergoing a lot of change, you will want to focus on protecting the business and not on admin. Through your asset register, you can make bulk changes to your assets. There is no need to make individual changes, simply bulk upload whatever changes are needed.

Auditing is not a word that inspires much excitement. Images of stacks of paper, knotty problems and general chaos come to mind. It needn’t be that way. Having all your PP&E in a single, centralised database (that updates automatically), will make auditing a breeze.

Business is becoming less office based all the time. The ability to work wherever and whenever is no longer a luxury, it’s essential. Contemporary asset management software makes accessing your asset management systems on the road possible. That means that you do not need to compromise on control over your business while working remotely or out on meetings.

A core part of any good asset management strategy is maintaining quality. Without an achievable, well thought out inspection and maintenance schedule, the integrity of assets can seriously suffer. Keeping on top of this in excel is possible, but there is a lot of opportunity for mistakes and the process can get tricky to manage.

Using fit-for-purpose software means you can create an automated schedule that reduces repair costs and lessens the impact of depreciation.

Talking of depreciation…

Understanding what your assets are worth at any one time is vital when understanding the overall value of the business. Particularly as this has accounting and tax implications. Without a tech tool to keep track of this, getting a true picture of asset management is a scary prospect. However, with the right tools, automating this process is reasonably straightforward.

Asset life cycles are another key consideration. Tracking when a piece of equipment is reaching the end of its expected lifespan means you can plan for the cost of replacement. There’s also health and safety to think about. Asset tracking management software means that you can guard against your staff working with out-of-date or potentially dangerous equipment.

One of the offputting aspects of asset management is data entry. When relying on spreadsheets, businesses often get around this by only tracking higher value items. But the accumulative effect of not having full control of lower value items can have a severe impact on profit margins.

Image recognition is a high tech, cost-effective solution to this problem. Using AI, a scanner pulls metadata based on the image and adds the asset to your register. This tried and tested method helps future proof the business without creating mountains of admin.

As you can probably tell by now, asset management software generates a huge amount of data. Without a way of simplifying this wealth of information, it’s not much good to anyone. That’s why the ability to visualise the data through intuitive reports. Data visualisation is vital for a modern company that wants to compete at the top level. You don’t need to be a data scientist to put your data to work. A well-designed asset management software provides you with configurable reports that can give you actionable insights.

Not only can itemit give you access to all the features described above, it has been built to fit in seamlessly with your current systems. Any big change in how your business works comes with risks. Changing systems is a daunting prospect. itemit mitigate these risks by blending in with your current environment. It’s easy to start small, and scale up as your confidence and business grows.

Every organisation has its own way of structuring and operating. As such, you need asset management software that can be tailored to fit the way you work, not the other way round.

Book a demo today to see all itemit’s features in action. To find out more details, you can always contact our team at team@itemit.com.

Instant access. No credit card details required.

or, download the itemit app to get started