Saving Time And Money With Fixed Asset Tagging

Saving Time And Money With Fixed Asset Tagging

Saving Time And Money With Fixed Asset Tagging

Fixed asset tagging is a process that speeds up your asset audits, saves you time, and saves you money. It’s a simple operation of sticking physical tags, such as QR codes or barcodes, onto your assets to link them to editable digital profiles.

This revolutionary process allows you to monitor asset usage and movements from anywhere in the world. When your assets are updated on-site, you’ll be able to monitor these changes and control your assets from hundreds of miles away.

fixed RFID asset tracking planning


What Are Fixed Asset Tags?

Fixed asset tags are physical tags that you can stick onto your physical assets. So, for example, you’ll be able to stick a QR code onto your laptop if you’re tracking IT assets.

This laptop will then have an online profile on your fixed asset tracking software and you’ll be able to link the physical laptop with this profile by using the tag.

So, after this, every time you scan the tag in your asset tracking app, the corresponding laptop’s profile will open, ready for you to edit any information or make use of helpful features.

In practice, what this means is that if you’re running an audit and notice an asset has an issue, reporting this issue is possible against the asset itself simply by scanning the tag and pressing “report issue”.


How Can You Use Fixed Asset Tracking?

Fixed asset tracking is used to log assets, reduce losses, and keep an up to date fixed asset register for tax, insurance, and expense purposes. Therefore, the core of your fixed asset tracking operations will be just this, logging your assets to ensure that they exist, are accounted for and are tracked.

Fixed asset tags then expand on this, as it opens up the possibility for more granular asset edits and information tracking. As you’ll be able to interact with assets while they’re physically in front of you, you can ensure you have more accountability.

Any edits you make on an asset’s profile using your asset tracking app are also reflected across the board, meaning that if you add an issue while you’re onsite, this is also visible on your web-based fixed asset register, ready for monitoring and exporting.

This gives you the most accountability possible and reduces the risks of ghost and zombie assets in one fell swoop.


RFID Fixed Asset Management

You can also opt for using RFID fixed asset tags. These tags give you more control and automation over your asset tracking. 

We recommend pairing passive RFID tags with handheld readers to start. This way, you can unlock a variety of time-saving features. The way these tags work is by receiving radio frequency signals from your handheld reader to indicate their presence.

In essence, therefore, they’re similar to QR codes and barcodes only don’t need a line of sight to be scanned, can be scanned in bulk, and can be scanned from a distance.

Therefore, if you’re tracking high-value assets, you can conceal tags. You can also run faster audits as it’s a simple case of pulling the trigger on your handheld reader and verifying the tags’ locations.

RFID tags are also very helpful when it comes to small tools tracking as you’ll don’t need to physically find the tags on assets to scan them and account for them.


itemit’s Asset Tracking Software

itemit’s asset tracking software gives you a wide range of features to play around with. From equipment checkout functionality to asset maintenance features, you’ll be able to monitor your asset usage with ease.

itemit is a cloud-based asset tracking system, which means any changes you make onsite are also reflected on your entire asset register in real-time.

The software is unique as it allows you to combine barcodes, GPS trackers, QR codes and RFID tags under one banner, giving you the full range of functionality possible.

To find out more about how itemit’s fixed asset tracking software can help your business save 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 Tags

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How To Choose The Best RFID System For Your Business

How To Choose The Best RFID System For Your Business

How To Choose The Best RFID System For Your Business

RFID, or Radio Frequency Identification, is a powerful technology. Using RFID paves the way for total control and visibility over where your assets are within a room on a floor, an area in a manufacturing facility or even a particular location in an open building site. It provides automation, which means that you no longer need to manually update any of your asset locations, or even stock check your assets regularly.

Here you will be able to find out more about how RFID systems work and, therefore, how they will save your business time and money. The technology is relatively new having been around for only about 20 years. However, it has already created a powerful level of automation one could only imagine a few years ago.

How Fixed RFID Readers Will Transform Your Asset Tracking


An Introduction To RFID Asset Tracking

Asset tracking has come a long way in the past decade. Many companies are still using the old ways of spreadsheet asset tracking to manage fixed assets, tools, equipment, and IT assets.

Spreadsheet asset tracking has always had gaps, but it was only recently that these gaps could be minimised through the use of smartphones, apps, and cloud-based software.

Now, you can use asset tracking software to log all of your assets. These assets can have unique profiles, too, meaning you can add unique data, such as issues and maintenance information, to your assets.

This is where RFID comes in. When you’re using an asset tracking app, you can use asset tags to speed up asset discovery and audits. Most commonly, these tags will be barcodes and QR codes that are scannable with your phone’s camera. Then, when you scan one of these tags, the asset profile of the equipment it’s attached to will open on your app and the last seen location will update.


Overview of Types of Auto-ID Technology

Auto-ID technology refers to a group of technology you can use to create digital twins of assets. In other words, you will be able to stick a barcode onto an asset and use this barcode to discover your asset within your asset tracking software.

As your assets are unique, Auto-ID technology must be unique, too, as each barcode, QR code or RFID tag will be used to find a specific asset within your system.

Here is a comparison chart of some of the Auto-ID technologies that are available:

Auto-ID Technologies Overview


RFID Asset Tags

RFID tags are effectively a “supercharged” version of barcodes. These super-tag labels are made up of an RFID chip adhered to an antenna in order to interact with RFID hardware. 

Unlike barcodes, such methods of detection using radio frequencies do not require visual line-of-sight. Furthermore, an RFID reader is capable of reading thousands of RFID tags within a few seconds, providing a powerful new process to instantly detect the presence of large volumes of assets without the need to manually scan them one by one. This is why it is so appealing to businesses looking to automate their processes.


Active RFID Tags

Active RFID tags use batteries meaning that they have a longer read range. This is because active RFID tags continuously send out a radio frequency for an RFID reader to detect, thus increasing the overall read range, very similar to a phone.

The combination of reader and tag is critical when it comes to a decision, as ultimately these will be the two devices communicating with each other. You need to ensure that the read ranges of your RFID reader and your tags are larger than the gap between reader and asset while also taking into account that the highest read ranges will generally have the highest costs.

A caveat to active RFID tags is that their batteries will need to be replaced regularly. The larger the battery, the less frequently it will need to be updated and, generally, the larger the tag, the larger the read-range, too. But bigger isn’t always better as you can’t track small tools with large RFID tags and as bigger tags can be more expensive.

Active RFID tags, therefore, work within specific operations and the size of these tags can be a limiting factor in how well they work for you. Passive RFID tags have much more customizability when it comes to your operations and don’t require battery replacements.


Passive Long-Range RFID Tags

Passive RFID tags do not require batteries but have a lower read range. Whilst active tags communicate by sending out their own signal, greatly increasing the overall read range, passive tags only receive a signal meaning that their read range is typically 3-5 metres using normal RFID readers but some up to 20 metres for long-range RFID readers.

The most common passive RFID tag for long-range detection is using Ultra High Frequency (UHF) tags based on GS1 EPC Network standards. In essence, as they do not have internal batteries, they derive their power from the radio frequency emitted by RFID reader devices. These passive tags then utilise the power from the RFID reader to power up their internal chips in order to send their identity back to the reader. Find out more about the physics behind RFID.

These “EPC Gen2” tags do not require manual intervention after they’ve been stuck onto an asset and they can last about 20 years. They are also cheaper than active RFID tags with typically a much smaller form factor (some as small as a few specks of sand!).

Generally, this means that they’re more suitable for tracking smaller assets and more suitable when used in a more confined environment, such as a shop floor, lab, or office. 

However, the reduced need to interact with these tags also means they’re more suitable for hazardous environments, for example, so there is a lot to consider when it comes to choosing the best tags for your use case.

Both types of tags can be customised to your needs and it’s important to note that certain tags will interact with certain materials. Many passive RFID tags, for example, will not work on conductive materials such as metal, so this is another thing to consider in your search for RFID solutions.

For passive RFID tags, there are three ways in which these passive tags can be read:
 
 

  1. Using RFID handheld devices capable of detecting tags within 5 metres range

    Setup:

    An
    RFID handheld reader is required

    Typical installation & Cost:
    Up and running in minutes. Cost for one reader, you’re looking at around £1000

    Capability: 
    a. Has mobility and can deduce location based on location tags or GPS of the smartphone
    b. The cheapest option with highest flexibility
    c. Better than barcode because can read hundreds of assets within seconds

    Challenges:

    But has similar limitations in that you need a user to bring the device near the tagged object to scan them

    Others:

    Great for stock check and check-in/check-out processes
  2.  

  3. Using Fixed RFID readers typically connected with 1 or more antennas capable of detecting a tagged assets within 10 metres area

    Setup
    :
    a fixed reader with 1 or more antennas, typically 4

    Typical installation & Cost:
    Up and running within 1 day given networking availability. Cost around £2500 per reader set

    Capability:
    a. Great for hands-free operation for any time tagged assets/equipment go past a particular zone location
    b. One can also have multiple antennas multiplexed to reader
    c. With itemit, you do not require any onsite middleware or servers
    d. Readers only require power in, you can use wifi to simplify network deployment

    Challenges:
    a. Once fixed to the ceiling or wall, they can’t be removed that easily unlike handheld
    b. For really high density tagged assets, 100% readability may not be achievable but not impossible. Realistically you’re looking at 90% to 99% (whoever promises you 100% in all circumstances will be lying!)
    c. Does not provide you with precise location within sub-metre, and only a zone location accuracy
    d. Require large number of antennas and RFID readers to read a large area e.g. warehouse
  4.  
     

  5. Using Real-Time-Location System (RTLS) RFID Readers that is capable of providing an pinpoint x, y and z location within a metre

    Setup:

    Phased Array RTLS, only one reader (with in built antenna) required to cover a wide area

    Typical installation & Cost:

    Up to about £9,000 per reader, but the cost per metre will be much lower than 2 above. Installation will take say 2-3 days for each reader

    Capability:
    a. New cutting edge technology that’s available only in the past year that we believe will revolutionise large scale RFID tracking with the lowest cost of infrastructure
    b. Provides true x, y, z location accuracy up to sub-metre accuracy
    c. Great for open space (like open warehouse/factory) as it can be mounted high up in the ceiling that’s 20-30 metres high
    d. Provide real-time movement of an asset sub-metre that can be mapped as a trail…

    Challenges:
    Not suitable for an area with low ceiling as this will increase cost per sq metre
    RTLS RFID Asset Tracking Comparison Chart


    How to choose which RFID Readers to use

    Location is everything when you’re thinking about the right RFID solution to use. There are a few considerations here, such as how large your location is and which type of RFID reader to use.

    While you’re assessing your operational zone, you need to take into consideration the type of reader you need. This is due to read range as, if your operational zone is sparse, you will need to affix readers to the ceiling meaning you will need a higher read range.

    This is also because the type of RFID reader will either track two dimensions or three. So, if you’re stacking boxes and wish to find where a box is on the Z access, you will need one type of reader, but if you’re tracking asset movements in and out of a room the X and Y axes will be sufficient.


    Handheld Reader Based RFID

    Sometimes, heavy infrastructure may not be needed or may not be the best option. For example, if you’re tracking small tools. Something to keep in mind is the value of your assets and the time-saving benefits RFID systems provide. If your fixed RFID system costs more than your losses, it may not be worth it. 

    In this case, we would recommend handheld reader based RFID asset tracking systems. Handheld readers work by emitting a radio frequency when you pull a trigger. This frequency then detects the RFID tags. 

    This means that it is similar to barcode or QR code asset management systems, as you still need to scan your assets manually. However, there are still time-saving and accuracy increasing benefits.

    Your handheld RFID readers will connect to your asset tracking app via BlueTooth and work as a tag scanning peripheral, similar to a barcode scanner.

    However, one of the benefits is that tags do not need to be visible to be detected by any handheld RFID reader. This makes handheld RFID effective for high-value asset tracking as you can conceal tags under the frames of paintings, for example, to remove the need to add a visible tag to your assets.

    This is also very useful when you’re auditing small tools. If you need to ensure your tags are in the location they should be, you can use the audit feature on your asset tracking software and simply pull the trigger. Your assets will be detected without the need to search for them and physically scan the tag.

    Similar to this, if multiple assets are moving in bulk, you will be able to use a handheld RFID-based asset tracking system to reflect the change with the same method of pulling the trigger. 

    The lack of line of sight allows you to detect smaller tools without spending any time physically finding them and also increases the capability for robust health and safety measures if your assets are hazardous.

    Zebra RFD8500 Handheld RFID Reader


    Typical Fixed RFID Reader (Zone based)

    These RFID readers work by using antennas. These antennas emit electromagnetic radio frequency fields that read a tag when it is within this field. The relevant antenna will then communicate with the reader which will, in turn, communicate with your asset tracking software. This also means that this system is binary, either the tag is in the field, or it isn’t. This is how the location is deduced.

    Fixed RFID Reader

    These fixed readers are typically supplied by Zebra, Impinj, Alien Technology and Caen to name a few suppliers.

    A common example of how you can use this system is by affixing antennas on either side of a door. The reader can then detect the direction an asset is moving in as it will pass through antenna one and then antenna two or vice versa.

    The electromagnetic field emitted diffuses outwards, creating something similar to a cone. If you mount your antenna to a ceiling this means that the higher an antenna is mounted, provided the floor is within its read range, the larger the surface area the tag will pass through. Therefore, if you can accommodate this, you can save money by increasing the read range of each antenna and can purchase fewer.

    You can even add hundreds of antennas to a single RFID reader to create multiple read-zones, this is called “multiplexing”. Multiplexing allows you to track an asset’s movements around a room, as it will pass in and out of one RF zone, into another, then another, and so on. However, in practice, multiplexing can cause a delay in the collection of location data as it can take some time to cycle between antennas. Hence, it is not suitable to track moving assets such as forklift or pallets.

    While the base cost of a reader package will be lower than a phased array system, these costs can add up depending on the number of antennas you need. This will eventually surpass the cost of a phased array system.


    Long Range Phased Array RFID Systems

    These readers are different to the typical RFID systems even with multiplexing – you can envision them as emitting highly dense radiofrequency waves in a straight line, similar to lasers. As these fields don’t diffuse in the same way as non-phased RFID systems, the read range can be significantly higher (up to 20-30 metres).

    Commonly, these systems are mounted high up to cover a large space such as that of a warehouse, factories or a large area of a building with a high ceiling The difference in this technology means granular movement is also detectable, as an RF field will detect specifically where a tag is as opposed to whether or not it is in a zone.

    Though the physics of RFID phased arrays is not new, it is only in recent years that this revolutionary RFID system has been properly productised for commercial deployments. Imagine that every single asset on your site, whether pallets, forklifts, assets etc are tracked in real-time with sub-metre precision in 3D space – this was not possible before, and not possible with conventional RFID systems currently in the market.

    Phased array RFID Vs. Non-phased array RFID


    Summary

    In summary, the RFID system right for you isn’t necessarily the most expensive with the biggest read range. In fact, for some situations, this won’t work for your asset tracking operations.

    After you’ve considered your locations and the day to day operations you’re performing, you’ll be able to start matching up the requirements with the capabilities.

    For example, if you need to track when assets move from one ward to another to track hospital assets without any manual input, a passive, non-phased array system will be sufficient. If you’re tracking where pallets are placed in a warehouse, it will not.

    Once you’ve mapped out your building and your requirements and once you have a good idea of which system you need, you can then reduce costs by knowing the science behind RFID. For example, when you know how high up your building’s roof is, you can investigate the read range of antennas and choose a solution that requires the minimum number.

    Planning is key to getting the best out of your RFID solution at the lowest cost possible, but when you know your requirements and the capabilities of each system, it becomes much easier to plan this.


    itemit’s RFID Asset Tracking System

    itemit is powered by RedBite Solutions, a company built on RFID expertise. RedBite has been working in the RFID sphere for over ten years and has the largest-scale RFID deployment active to date, deployed in over 60 countries worldwide.

    This means that our team is qualified and happy to consult with you to help you find out the specifics of your requirements and recommend the best RFID deployment for you. The team can also create a bespoke solution for your needs if required.

    Alternatively, you can take advantage of our off-the-shelf solution, itemit. itemit’s asset tracking software is a powerful cloud-based system that allows you to track specific asset information. The system is unique as it allows you to combine RFID, GPS, QR code and barcode technologies to give you the highest level of accountability, transparency and control possible.

    To find out more about itemit or to discuss a bespoke RFID solution, contact the team at team@itemit.com or call us on +44 (0)1223 421611. To check out the system and what it can do, you can also start a 14-day free trial by filling in the form below.

    RFID Asset Tracking System

    Choose a better way to track your assets

    Start your free 14-day trial now

    Instant access. No credit card details required.

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    Deploying Your Asset Tracking Software: Best Practices

    Deploying Your Asset Tracking Software: Best Practices

    Deploying Your Asset Tracking Software: Best Practices

    There are a few things you need to know when you’re deploying your asset tracking software. These are key to your success, as, with a successful deployment, you will be able to:

    • Save time
    • Save money
    • Maintain an accurate fixed asset register
    • Lose fewer assets
    • Track your colleagues’ usage of assets.

    Overall, how you deploy your asset tracking software across your business, no matter how big or small the business is, helps you save time and money sooner.

    What to Include in a Fixed Asset Register


    Populate Your Asset Register

    First of all, you’ll need to populate your asset register. This is the process of logging your assets and formalising the information you’re adding to them.

    If you already have a fixed asset register in the form of a spreadsheet, you’ll be able to have this imported onto your system. This way, you can be up and running in no time.

    Here, you can decide what naming conventions to assign to your assets. For example, do you need to know if your IT assets are laptops, or do you need to add the make and model to the asset’s name?

    Then, you’ll be able to use bulk editing features to formalise reminders and information, such as PAT test dates, to your assets.


    Use Asset Tags

    Asset tags speed up your operations greatly and allow for automatic location tracking. Every time you scan an asset’s tag, a few things happen.

    First of all, the asset’s profile will open. This means that if you’re using your software for tools and equipment tracking, if you’ve logged a spanner, when you scan a tag attached to the spanner, the corresponding digital profile will open. Then, you’ll be able to update maintenance data and add comments, for example.

    Every time you scan an asset’s tag, the last seen location, time of scan and user who scanned the tag will also update and will be visible on a map. This way, you can create more accountability over your asset register by tracking where your assets have been and who has been interacting with them.


    Make Use Of Helpful Asset Management Features

    Once you’ve logged and tagged your assets, the next step is to explore the many features available to you in your asset tracking software. If you can group your assets by collections, such as one you’ve called “IT assets”, for example, this is a good time to add this data to your asset list.

    After you’ve scanned an asset’s tag, too, it’s a good idea to look at the features you can use to indicate changes to your team. You may need to book equipment or add issues, depending on why your business needs asset tracking software, but now is a great time to start creating a formal process that you and your colleagues can use.

    Then, you will be able to monitor your web portal, too. This way, you’ll be able to cross-reference the features you need onsite, and the features you’ll be using remotely as there will be an overlap.

    Finally, it’s a good idea to play around with reports and create a few custom ones. For example, if you need a custom report that only shows you specific maintenance information, this is a good time to create one now that you’ve added your data.

    You’ll then be able to export your reports and fixed asset register in pdf or excel sheet form, ready for anyone who needs to monitor, view, and use them.


    itemit’s Asset Tracking Software

    itemit’s asset tracking software is a cloud-based system that works with an app and integrated web portal. This means that you’ll be able to make changes onsite when you’re with assets and remotely with ease.

    itemit has a wide range of features available, from IT asset management functionality to fixed asset management features, such as depreciation, to equipment checkout functionality.

    Any changes you make onsite are updated across the board, for all of your colleagues to see. This means that audits and edits are simple, quick, and effective and ensures that the system remains highly scalable, no matter the size of your business.

    To find out more about how itemit can help your business keep an eye on your assets, you’ll be able to contact us at team@itemit.com. You can also start your very own 14-day free trial by filling in the form below.

    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

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    Using Asset Tracking Software For Healthcare

    Using Asset Tracking Software For Healthcare

    Using Asset Tracking Software For Healthcare

    In a busy environment such as in the healthcare industry, you need an automated and efficient way to track your assets. Spreadsheets are not fit for purpose here as they can waste time and create gaps in accountability. This is where healthcare asset tracking software comes in.

    Healthcare asset tracking software allows you to create, update and monitor a fixed asset register on the go, reducing admin time while also giving you more accountability.

    The aim here is to give you the clearest overview of your asset register in the shortest time possible, saving you both critical time and money.

    asset tracking software healthcare


    What Is Healthcare Asset Tracking Software?

    Healthcare asset tracking software is a system that allows you to log all of your critical equipment and track assets uniquely. Each of your assets, whether laptops or equipment, get a unique asset profile that you can add information and data to, such as manufacturer info.

    You can also use asset tags on your assets to speed up your operations further. Asset tags remove the need to search for your assets on a list as you’ll be able to scan the barcode, QR code or RFID label to retrieve the asset’s profile, ready for maintenance.

    Then, you can also use a wide range of features to add, update and monitor information about your assets, including maintenance information (pre-emptive and reactive), equipment booking and check in check out data, usage information, and who is responsible for your assets.

    Then, you can use all of this information in a healthcare fixed asset register that you can export and use for budgetary, tax, and insurance purposes.


    RFID Asset Tracking Systems In Healthcare

    When it comes to tags and automation, we recommend that you go as far as possible in healthcare. This is as the less time you spend interacting with assets the better.

    So, you can either opt for a handheld RFID system or a fixed RFID system.

    With handheld RFID, you can speed up bulk actions. For example, if multiple assets move from one location to another, you can record this change at a much greater speed with handheld RFID readers. You can also similarly run speedy audits. Handheld RFID also works well with smaller assets as you don’t need to physically find the asset to account for it.

    With fixed RFID, you can take your asset management further by automating the location tracking procedures integral to asset tracking. Fixed RFID automatically updates where your assets are in your building, for example, if they move from one ward to another.


    Useful Your Asset Management Features

    When you use asset management software, there are many time and cost-saving features that you can use.

    You can have your bookings process on the same software as your maintenance information while also running reports on depreciation, for example. 

    One of the most helpful features is the ability to audit your assets by scanning their tags. This indicates that your assets are all still in the location that they should be, and you can run these daily, weekly, or monthly depending on your preferences.

    Then, you can also use a reminders system for pre-emptive maintenance and check these assets out when they’re due for downtime, indicating to your team that they’re unavailable.


    itemit’s Asset Tracking Software

    itemit’s asset tracking software gives you all of this and more. itemit is a highly scalable, shareable and customisable system that is currently being used in healthcare companies around the globe.

    With itemit, you get more time, more accountability, and reduced losses. The software itself is easy to pick up and no matter the system you’re using, whether QR tags or RFID, you can be up and running within a day.

    To find out more about itemit’s asset tracking software, you’ll be able to contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

    Healthcare 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

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    How To Use Asset Management Solutions To Save Money

    How To Use Asset Management Solutions To Save Money

    How To Use Asset Management Solutions To Save Money

    Asset management software improves your business’ operations. Most businesses are still using spreadsheets to track and manage their assets. This is an outdated system and creates gaps in accountability.

    Asset management solutions can help you save more time and more money than spreadsheets. You’ll be able to audit your equipment onsite using an app and run reports later on an integrated web portal, without having to transfer data from site to office physically.

    With asset management software, you will:

    • Save time
    • Save money
    • Create an accurate fixed asset register
    • Gain more accountability
    • Lose fewer assets
    • Gain more control and transparency over assets
    What Is Asset Tracking Hardware And How Can You Use It?


    What Are Asset Management Solutions?

    Asset management solutions are a set of systems that you can use to track your tools and equipment better. They’re applicable to a variety of use cases, including fixed asset management, IT asset tracking, and tools and equipment tracking.

    Effectively, you can log each individual asset onto an online register. Then, you can add unique asset information to these asset profiles.

    This means that you can add maintenance information, important dates and attachments against the assets themselves, giving you a clear view of what you own and how it’s behaving.

    Then, you can use asset tags to speed up various asset related operations, such as asset discovery and audits. Every time you can an asset’s tag, the last seen location updates, too.


    How Does This Save You Money?

    The additional accountability you gain over your assets gives you much more transparency over how they’re behaving. If you already have a fixed asset register on a spreadsheet, you’ll know that it’s crucial to monitor asset data.

    Asset management solutions speed up the creation, monitoring, and use of this data as it gives you a much more transparent overview of how assets are behaving.

    This overview means that you can use asset locations to track down assets for faster (and cheaper) retrievals. It also means you reduce the chance of losing assets and purchasing duplicates.

    Then, as you have a robust and automated fixed asset register, you also mitigate the chances of ghost and zombie assets. These assets can cause your tax returns to be inaccurate, either risking fines or causing overpayments.


    Helpful Asset Tracking Software Features

    The features you can use in your asset tracking software also speed up your operations and save you money. For example, if your assets are consistently checked out by your colleagues, you can use your system as equipment checkout software.

     You can also speed up maintenance operations and gain more clarity over asset maintenance with helpful issues management functionality and a useful reminders system.

    Whenever maintenance is due, you’ll receive an email indicating which assets require maintenance and, as they’ll have been scanned, exactly where these assets are. Then, you can log a fix with comments and images to prove that maintenance has been performed.

    Overall, asset management solutions give you more time to fulfil your asset-related duties and save you money by lending you more transparency and accountability over all of your assets.

    To find out more about how itemit’s asset tracking software can help you, you’ll be able to contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

    Asset Management Solutions

    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

    Fixed Asset Tracking: The Ultimate Guide

    Fixed Asset Tracking: The Ultimate Guide

    Fixed Asset Tracking: The Ultimate Guide

    Fixed asset tracking operations help your business save time and money. All business need to keep a close eye on their fixed assets. Without a certain level of clarity, you run risks of losing accountability and losing money where it could otherwise be saved.

    Most businesses are using spreadsheets for their fixed asset tracking operations. However, the use of spreadsheets creates gaps as they require a lot of manual input. For example, if you’re onsite and notice one of your assets has undergone a change, you’ll most likely need to log this on your spreadsheet later on, as opposed to when you’re physically with the asset.

    Fixed asset tracking software allows you to use cloud-based technology to log and monitor any changes assets undergo when you’re onsite, saving you time and money in the process.

    fixed RFID asset tracking planning


    What Are Fixed Assets?

    Your fixed assets are assets that you don’t sell or use as stock. As such, they’re permanent fixtures in your business. They can either directly or indirectly create revenue in this case, just not through the process of selling the assets.

    So, for example, your fixed assets can be furniture, they can be IT assets, such as laptops or phones, and they can even be buildings. 

    Most fixed assets can be logged as a business expense, too, meaning that you’ll be able to offset your tax repayments by logging these accurately.


    What Is Fixed Asset Tracking?

    Fixed asset tracking is the process of logging your fixed assets onto a register. Each asset has a unique profile on fixed asset tracking software, where you’ll also be able to add serial information and tag the asset.

    Crucially, you must log all of the fixed assets you need to report on onto your fixed asset register. There are a range of helpful features that you can use after this, but the fundamental idea is to have a record of what you own and what you’re using for a greater level of transparency over your asset list.

    So, when you’re using fixed asset tracking software, you must have the fundamental information logged, then you’ll be able to use more helpful features tailored towards your requirements.

    Once your assets have been logged, you’ll also be able to run exportable reports on them for tax and insurance purposes.


    Using Fixed Asset Tags

    To improve your fixed asset management, you’ll be able to use fixed asset tags. Fixed asset tags speed up asset discovery, as once your tools and equipment have been tagged, you simply have to scan the tag to find the corresponding asset in your software.

    Every time you scan an asset’s tag, too, the last seen location will update as well as the user who scanned the tag and when the scan occurred. This gives you a full view of each asset interaction, allowing you to pinpoint where and when any changes were logged, such as asset damage.

    Asset tags also allow you to speed up a few common fixed asset management operations. For example, if you wish to run an audit to verify that all of your assets are in the correct location, you can use these tags to speed this along.

    Overall, fixed asset tags lend you more accountability over your fixed asset tracking operations, but they also save you a lot of time and, therefore, money.


    Helpful Fixed Asset Management Features

    Once you’ve logged and tagged your assets, you’ll be able to use a range of helpful features to track the daily, weekly, or monthly changes your fixed assets will go through.

    So, you can also implement maintenance and issues management operations into your tools and equipment tracking by using helpful reminders and issue reporting features.

    Then, if you frequently book and check out your assets to your colleagues or other businesses, you will also be able to use your fixed asset tracking system as equipment checkout software.

    Every field you add and edit on your asset profiles you can also filter by in your reports. This means that if you need to run reports that specifically show your maintenance data, you can do so.


    Depreciation and Asset Lifecycle Features

    Other than the maintenance side of things, you can also use depreciation features in your fixed asset management software. Depreciation is where you track the value of a fixed asset over the course of its lifecycle.

    So, if you need to track linear depreciation to see either how a specific asset is depreciating in cost or for your entire asset list, you will be able to do so with ease.

    Also, as the data you’re adding to your fixed assets is highly customisable, you can also track how assets are behaving throughout their lifecycle.

    For example, if an asset has had a regular history of maintenance, you’ll be able to view this and make a clearer decision on when to dispose of this asset.


    Using Fixed Asset Tracking For Tax And Insurance

    All of this data is usable for tax and insurance purposes, too. When you export a report, you can choose to export it as an excel file or a pdf and choose which data is added to the report.

    On the excel file, if you need to add any of your own calculations, you can use your own formulae to fit with your business’ operations. 

    The pdf report is a clear view of all of your asset list with pictures, too. This is very helpful when it comes to insurance and tax audits, as your reports show your auditors that you own the assets and that they’re being used responsibly.

    Also, a clear, regularly updated, and accurate fixed asset register greatly reduces the risk of ghost and zombie assets. These can make your fixed asset register inaccurate and risk fines or overpayment.


    Businesses That Can Use Fixed Asset Tracking

    All businesses will have fixed assets, and so all businesses can benefit from effective and clear fixed asset tracking software.

    However, there are a few specific requirements in each industry, as each industry will have overlapping or non-overlapping asset types that they need to track.

    So, offices can use fixed asset tracking software to track their IT assets. Theatres can use asset tracking to track props. It’s possible to implement construction equipment asset tracking, healthcare asset tracking, and you can even create a school fixed asset register.

    No matter the assets you’re tracking, you’ll be able to use fixed asset tracking software to save time and money. This is as you’ll be able to add unique, specific asset information against your asset profiles.

    The more customisable your asset profiles are, the further you can take your fixed asset tracking.


    itemit’s Fixed Asset Tracking Software

    itemit’s fixed asset tracking software is being used by businesses worldwide. itemit has customers spanning Africa, New Zealand, Europe, the US, and Asia.

    The itemit system is a powerful and customisable software that allows you to log, track and manage any and all of your assets. It uses an integrated app and web portal, meaning if you make any edits with the app on site, these will update on your web view automatically, speeding up your operations and reducing the chance for gaps.

    We pride ourselves on our support and will ensure that you’re saving as much money as possible by using the system. 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.

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