Asset tracking lies at the core of business management. Whether you run a small company or a large one, only an entrepreneur knows the great number of responsibilities that come with entrepreneurship. You are involved in every part of your business, ranging from corporate decision-making, brand marketing to fixing the nuts and bolts required to run the company. 

When it comes to the most essential part of running a business, it’s undoubtedly the finances. More specifically, it’s asset management that can make a huge difference. 

Proper asset tracking can help a business make more money with the assets it has on hand. But if not managed appropriately, your very own assets can make your business much less productive and lose money.

To put it simply, asset tracking software is designed to help your business flourish. It helps you get the maximum out of an asset so you gain the greatest profit with the lowest costs involved. 

Asset tracking involves keeping track of a business’ physical assets, or simply, items owned by your business. It also comprises real-time information on the actual location and status of a particular asset. itemit uses either QR code tags, which are our low-cost solution, or RFID tags that are attached to each asset. When scanned, these labels enable the asset tracking software to record the real-time location and status of all your assets . 

But the labels are not the focus here. The asset tracking function is primarily performed by the asset tracking software. It tracks the location, usage, and status of all assets with a tracking label on it. Tangible information and physical status related to an asset are recorded to give you valuable quantitative insight on asset utilisation. 

The software streamlines your business’s asset management and makes all the information available on an optimized user interface that can be used by the entire staff. So say goodbye to lengthy spreadsheets.

When it comes to the benefits of using asset tracking software, it wouldn’t be wrong to say that they are limitless! While we list some of the most significant advantages below, you can only realise the true potential of asset management software for your business once you try it for yourself.

The streamlined and effortless monitoring of all business assets seems to be the most evident advantage of using itemit’s asset tracking system. However, there is much more to it. 

• You will no longer have to deal with extensive spreadsheets that limit collaboration and effective asset management for you and your team. The software automates record-keeping of assets moving within the company, between departments, and employees. 
• With each asset having its unique tag, it is much easier to locate, see maintenance records and view the real-time status of each asset. This means even similar assets like two identical computer monitors can be separately and effectively tracked. 

All of this leads to enhanced resource management for your business. It empowers you to have a better view of your asset portfolio, reduce wastage and meet demands on time.

An unoptimised asset maintenance practice will inevitably lower productivity for any business. Lags in asset maintenance schedules not only lower workplace productivity but also increase the cost of maintenance. Not to mention the increased risk of permanent asset damage, making your company lose money two-fold. 

With itemit’s asset tracking software handling things for you, asset maintenance becomes a streamlined process. With each asset having its own regularly updated record, delays in asset maintenance are reduced to the bare minimum. Moreover, the software also allows you to track inventory and asset stock so you are always a step ahead. 

Not only that, there are countless creative ways you can use asset labels for workplace maintenance activities. For instance, you could label planters to keep track of who watered the plants last and when.

With larger teams, assigning asset maintenance responsibilities can be tough. This means, there are risks associated with asset management. Some employees may not perform much-needed maintenance tasks because they feel it’s not their responsibility. 

The risks involved in asset management are reduced with proper asset status tracking and reminders. Whenever there’s a chance of asset damage or malfunction, the software will alert the concerned person to carry out the required maintenance. 

What’s more, asset tracking reduces the risk of theft or misplacement. The software sends a notification whenever an employee checks out an asset or if an item is missing.

If your business operates in a highly regulated industry, you’ll know the importance of adopting the most cost-effective measures to stay compliant with industry standards. Advanced resource management through asset tracking software enables you to record and report asset data effectively, helping you gain regulatory compliance.

There’s the risk of no or inadequate asset maintenance due to human error. But there’s also a human error risk within record-keeping associated with asset maintenance and management. 

Unoptimized asset tracking methods involve double data entries, missing entries, inaccurate information, typos, and many other human errors – mostly caused by utilising spreadsheets! You can avoid these with an asset tracking software that makes no mistakes and records all information with the utmost accuracy and reliability.

All in all, itemit’s asset tracking can help your business save tonnes of money. The list of benefits discussed above is not exhaustive, not nearly. There are countless other advantages that all have one thing in common, increased productivity. 

As a business owner, you’d know the most important way to make a profit is to deliver greater results at the lowest cost possible. This is exactly what itemit helps you accomplish. 

To learn more about how itemit’s asset tracking software saves your business time and money, start your 14-day free trial today. For further assistance, please contact our team at team@itemit.com.

Instant access. No credit card details required.

or, download the itemit app to get started

Asset tracking software is critical for your business. Without asset tracking software, you run the risk of losing assets, purchasing duplicates and permanent asset damage.

With asset tracking software, however, you get:

• More visibility over your asset register
• More control over your assets
• Fewer lost assets
• Fewer duplicate purchases
• And more!

But how do you choose the best asset tracking software for your business?

First and foremost, you’ll want to know the value you’re getting out of your asset tracking software. If your software isn’t saving you time and money then there’s no point in using it.

Asset tracking software is complicated, however, as there are a lot of places it provides you with a return. It’s difficult to put your returns in monetary terms as there are different types of improvement.

For example, asset tracking will save you money by preventing asset losses and duplicate purchases. The amount this saves you depends on the cost of the assets you’re tracking.

Asset tracking also saves you a lot of time, therefore giving you more resources, which means you may make sales or close deals you wouldn’t otherwise, contributing to your return on investment.

So, to choose the right one for your business, you need to consider which will prevent the most losses and save you the most time.

One way you can assess time-saving benefits is by looking at an asset tracking system’s features. For example, if an asset tracking system has a complex user interface, this will complicate your asset tracking operations.

The best asset tracking software uses asset tags to speed up your operations. These tags are physical tags that you stick onto your assets and link up with digital asset profiles.

Then, you can add critical asset data to these profiles, such as asset costs, maintenance data and history, and information such as manufacturer, make & model.

Asset tags automate location tracking operations as every time you scan an asset’s tag, the last seen location updates automatically. The asset’s profile will also open up, ready for updates.

Most asset tracking software features will overlap and the return on investment will depend on how easy these overlapping features are to use.

However, you may have some specific needs and niches that you want to add to your asset management operations. For example, it’s not enough if you can only log limited info against fixed assets to call a system fixed asset management software.

Therefore, it’s critical to know your business and what problems and challenges your business is trying to address with asset management software.

For example, if you’re looking for an IT asset management system, there are sets of features that are essential to your tracking operations. This is the same with fixed asset management software: depreciation, for example, is a must here.

You must keep these needs in mind when you’re searching for the right asset tracking software as otherwise, you may not get the largest return on investment that you otherwise could.

itemit’s asset tracking software is unique. With itemit, you can use a range of tracking technologies to manage your assets, from RFID to barcodes. This gives you the most visibility and accountability possible.

With itemit, you get a 14-day free trial, too, so your business has time to monitor your needs and see if itemit addresses them and will improve them.

You’re guaranteed a return on investment, which is why itemit is used worldwide by a range of different businesses. To find out more about how itemit’s asset tracking software can help your business, you can start your free trial by filling in the form below. You can also contact the team at team@itemit.com.

Instant access. No credit card details required.

or, download the itemit app to get started

Asset labels give you more visibility over your assets’ locations and speed up a range of asset management operations. For example, when you’re using asset tags and asset tracking software, reporting issues is a simple case of scanning an asset’s tag and hitting a “report issue” button.

The need for asset labels, therefore, is clear. They can automate location tracking, as every scan will update your assets’ last seen GPS location and create a robust audit trail through this.

But, what are some of the more creative uses for asset labels?

Asset labels will most often be used for fixed asset management, IT asset management and tools & equipment tracking. Within this, there may already be a range of interesting assets.

As you can track and manage anything when you use asset tracking software, you may have already logged some interesting, unique and bespoke bits of equipment.

Why stop there, though? You can tag and track any asset, so why not use some smaller, custom QR codes on the assets in your office that bring the character?

You can tag up plant pots, for example, and log who watered the plants last. The possibilities are endless with asset tracking software as you can track any asset in a number of ways.

Another creative use for asset labels regards the labels themselves. Not only can you track weird and wonderful assets, but you can track with weird and wonderful asset tags.

So long as your barcodes or QR codes are readable you can customise them with any material or any patterns. Why not add your company’s branding below the code itself?

Or, better yet, why not add some printed patterns, interesting colours, and some of your branding, too. The best asset tracking software lets you track and manage your assets with any unique asset labels. The colours themselves are up to you.

The best uses of asset labels may also be outside of your asset tracking software. It may not be viable to get everyone logged in with an installed version of your asset tracking app, but some interactions may still be required.

For example, a public profiles feature is great for facilities and issues management. With public profiles, any user can scan your asset labels and report issues against your assets.

So, if you’ve tagged up one of your office’s rooms, anyone will be able to report an issue saying that the light is flickering. You’ll find that you fix a lot more issues when it’s much, much easier for people to report them!

itemit’s asset tracking software lets you customise your asset management and tracking operations as much as possible and this extends to your tagging capabilities.

With itemit, you can monitor where your assets are, who has them and how they’re behaving with ease. The level of control doesn’t stop there, however, as itemit lets you use any and all tags.

You can also mix and match tagging technologies. For example, you can use QR code asset tags, barcodes, and RFID asset tracking processes all in tandem!

itemit gives you the ability to be creative with your asset tracking operations and to lessen the burden asset management would otherwise create.

To find out more about how itemit can help your business you can fill in the form below to start your 14-day free trial. You can also contact the team at team@itemit.com with any tag or asset tracking enquiries.

Instant access. No credit card details required.

or, download the itemit app to get started