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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How Custom Asset Tags Can Improve Your Asset Tracking

How Custom Asset Tags Can Improve Your Asset Tracking

How Custom Asset Tags Can Improve Your Asset Tracking

Asset tags speed up your asset tracking operations. They integrate with your asset tracking software, allowing you to discover, manage, and edit your asset information with ease.

Generally, you will be able to print off your own asset tags. However, in some situations, you may need to use custom asset tags for more durability. For example, if you’re implementing construction equipment asset tags, you may need tags that have more durability.

Find out more about the ways custom asset tags can improve your asset tracking here.

itemit asset tagging options QR vs Barcode


How Do Asset Tags Work?

Asset tags contain a unique ID that you can link to your assets. As your assets are unique, they must have a unique identifier to be able to link the assets themselves to your asset tracking software.

In other words, each asset will have a unique profile in your asset management system. So, if you’re tracking your IT assets, each laptop will have a unique profile with unique information.

You will then tag your assets with your unique asset labels and link the data, so the physical tags are linked to the corresponding assets. This means that you’ll be able to scan a tag with your asset tracking app to retrieve the asset’s data.

Every time you scan a tag, too, a few things happen:

  • The last seen location updates
  • The user who scanned the tag is logged
  • The time of the scan is logged
  • The asset’s profile opens, ready for you to use a range of helpful features


Custom Asset Tag Materials

So long as you can add a readable barcode or QR code to your material, there isn’t much of a limit to the types of material you can use.

So, if you’re tracking tools and equipment and they’re frequently outside, you’ll be able to use anodised aluminium, or metal, QR codes to withstand more weathering.

If you’re tracking costumes or clothes, for example, if you’re a theatre tracking assets, you’ll be able to use iron-on tags which you can conceal inside your clothes.

In some cases, you may even need more out of your asset labels. So, if you’re tracking aerospace assets, you can opt for polymer-based materials or other, heavy-duty tagging options.

With itemit, too, you can use any materials and we’ll be able to consult with you the best tags for the job and order them in for you.


RFID Asset Labels

RFID is a little more complicated. If you’re using an RFID-based asset tracking system, you need to be aware that the tag materials can affect the readability of the tag.

As such, some tags will not work on metal. This is as RFID uses radio frequency signals to interact with your hardware. Therefore, if you’re placing a tag on conductive material, the tag itself cannot conduct any electricity otherwise the components will interact.

Thankfully, there are still many options you can opt for when it comes to RFID labels. There may also be a health and safety element involved. If you’re using RFID to remove the need to get close to your assets, you will be able to couple this need with chemical-resistant RFID labels.


Branding Your Asset Labels

Finally, you can also brand your asset tags. If you’re looking to use them as a deterrent, to indicate that you own an asset, or if you simply wish to add your business’ flair to your asset tracking operations, you will be able to add a logo and text to your asset labels.

You can brand QR codes with colours, too, you will just need to ensure that the colours contrast enough to ensure that your asset tags are still readable.

If you’re looking for custom asset tags, we can help. All you need to do is contact us today at team@itemit.com and let us know what your requirements are and we’ll be able to get you a quote and let you know the finer details.

If you’re looking for better asset tracking operations, you’ll be able to start a free trial of the itemit software by starting a free trial. All you need to do is fill in the form below!

Custom Asset Tags

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Asset Management System: The Best Uses

Asset Management System: The Best Uses

Asset Management System: The Best Uses

Your asset management system will be able to fit around the needs of your business. Whatever industry you’re in, whether you’re tracking construction tools and equipment, fixed assets, hardware, or IT assets, you’ll be able to use a range of helpful tools to improve your asset management.

Asset management systems fulfil a great purpose. They speed up your operations, they save you time, they save you money, and they give you a clear view of all of the assets you own and how they’re behaving.

By implementing asset tracking software, you’ll be able to make better business decisions based on clear information and data.

IT asset tracking software


How Do Asset Management Systems Work?

Asset management systems allow you to log all of your business’ critical tools and equipment. You’ll then be able to add crucial information to them.

You’ll be creating unique asset profiles. So, each laptop will have its own digital profile. Then, you’ll be able to populate this with data and information.

As asset tracking software allows you to log, view, and manage assets on a granular level, you’ll be able to add specific information and track everything you need to know about your assets.

Therefore, asset management systems allow you to implement effective check in check out, maintenance, invoicing, and lifecycle monitoring operations.


How Can You Use Asset Tracking Software?

As you’re logging your business’ assets, you’ll be able to tailor your asset tracking software to your specific needs. You’ll know the reason you’re looking for asset tracking software, so you’ll know the gaps and operations you’ll need to set up.

Asset management systems are highly customisable, too. So, if you want to implement effective location tracking operations, you’ll be able to use your system to do this alongside a better, more efficient maintenance system.

Asset tracking apps also allow you to use hardware, such as asset tags. Asset tags take your asset management further. The way they work is by linking your digital asset profiles to the physical assets.

This speeds up your operations as, to edit your assets, you’ll be able to scan your assets’ tag and simply press a button to log any changes. As your system will be cloud-based, too, any changes you make with your asset tracking app onsite are automatically updated across the board, meaning your edits are more automated.


More Asset Tracking Hardware

Asset tags most often take the form of QR codes and barcodes. This means that you’ll need a line of sight (your phone’s camera) to scan your tags.

You can customise these tags, too, so if you’re implementing construction equipment tracking, you’ll be able to opt for metal tags for more durability.

However, the best asset management systems allow you to tap into more powerful technologies, such as GPS and RFID. While every time you scan an asset’s QR code asset tag, the last seen location will update, you will be able to automate this further.

RFID asset tracking allows you to scan tags in bulk and from a distance. Fixed RFID asset tracking also gives you total automation over on-site location tracking, as every time an asset moves from one location to another, this will be reflected on your asset management system.

Conversely, GPS asset management fills any remaining gaps in location tracking, as with GPS tracking tags you’ll be able to monitor your assets’ locations no matter where they are in the world.


Industry Use-Cases

Asset management systems are used by companies the world over in all industries. There are theatres using asset tracking systems to track props, charities using it for their equipment, construction companies tracking their tools, and a wider range of offices using asset management to track their IT assets.

As your asset data is unique and specific to your business, you’ll be able to choose how to use your asset tracking software. You’ll know how often assets that are in transit go missing, so you’ll be able to calculate your ROI if you opt into GPS asset management.

Overall, the core of your efforts will be similar to all other companies. The main goal is to lose fewer assets, gain more accountability, and keep a record of your asset register.

This is why your asset management system will have fixed asset management capabilities integrated. You will be able to run reports on all of your assets and export them as spreadsheets or pdfs, ready to be used however you need to use them.


itemit’s Asset Management System

itemit’s asset management system is built off the feedback of our customers. Our features have grown and improved over the years by talking to companies and seeing what they need to get out of their asset tracking.

This is why itemit has grown to be a unique system that allows you to combine different tracking technologies, such as GPS tags and QR codes, and use a wide range of features.

We have companies the world over using itemit to track bookings, maintenance, fixed asset operations, asset lifecycles and more!

To find out more about how itemit can help your business save time and money, 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 System

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Everything You Need To Know About Small Tool Tracking Software

Everything You Need To Know About Small Tool Tracking Software

Everything You Need To Know About Small Tool Tracking Software

Small tool tracking software helps you keep a better eye on your critical equipment. Without small tool tracking software, you run an increased risk of losing assets, accountability, and speed.

When you use small tool tracking software, you’ll benefit from:

  • Fewer lost assets
  • More time
  • Fewer duplicates purchased
  • More transparency 
  • A clear and automated fixed asset register
heavy equipment maintenance tools


What Is Small Tool Tracking Software?

Small tool tracking software is a system that allows you to log, monitor, and track your small tools and equipment. Each piece of equipment gets a unique profile, ready to be populated with data.

In other words, you’ll be able to track each spanner, each laptop, and each drill individually, giving you a clear overview of which assets you own and how they’re behaving.

Small tool tracking software is a type of asset tracking software. Asset tracking software gives you a wide range of features to help you track your tools and equipment better, and to create a clearer overview of everything you own.


Using Asset Tracking Software To Track Tools

Asset tracking software allows you to track unique assets using asset tags. Then, once you’ve logged and tagged your assets, you’ll be able to speed up a wide range of operations.

For example, you’ll be able to use your asset tracking software as equipment checkout software, tracking all of the bookings and check-outs your assets go through.

You’ll also be able to implement fixed asset management operations to track depreciation and extend your asset usage. When you track, monitor, and manage your assets, potential gaps become more transparent, allowing you to take steps to fix them.

Overall, when you track your small tools with asset tracking software, you lose fewer assets and get a much clearer view of where your assets are going and how they’re behaving.


Fixed Asset Tags

Fixed asset tags are physical tags you stick to your assets. These can then be used to link your physical assets to their digital counterparts on your asset tracking software.

Every time you scan an asset’s tag, the corresponding profile will open, the last seen location will update, and the user who scanned the tag will be logged.

This allows you to monitor how all of your assets move and how they’re all being interacted with. This allows you to pinpoint where assets are should issues occur, as well as optimise asset movements between locations, saving you money on petrol.


Fixed Asset Tracking

After you’ve logged your assets, you’ll also be able to start using automated fixed asset tracking functionality. With effective small tool tracking software, every time you change any asset data, this will be reflected on an exportable fixed asset register.

Therefore, you’ll have a register of all of your logged assets and all of the relevant data against them. You can use this to indicate all of the small tools you own and find any gaps that need to be filled by purchasing more equipment.

Once you’ve exported your fixed asset register, you can take it further, too. For example, you’ll be able to use it to view business expenses, to gain necessary tax breaks, and send it off to relevant insurance companies.

Not only does a fixed asset register show you all of the assets you own and data related to them, but it also indicates that you own assets and are using them responsibly.


RFID Fixed Asset Tracking

Expanding on this, when it comes to small tool tracking software, you will also be able to use RFID fixed asset tracking to make a few operations simpler.

As QR code and barcode fixed asset tags require a line of sight to be scanned, audits and asset discovery can take a bit of time to complete. 

RFID asset tags remove the need for this, as RFID systems don’t require a line of sight to scan and discover asset tags. You simply need a third party reader that can scan tags from a distance and with no line of sight.

This means that you’ll be able to audit your small tools from a greater distance and verify that they’re in the correct location at much greater speed and with much greater ease.


Other Asset Tracking Software Applications

Once you’ve logged and tagged your assets, there are many different ways you can track them. As you can add any information to an asset, you’ll be able to tailor your asset tracking software to your unique needs.

Therefore, if you’re using your asset tracking software for training purposes, you’ll be able to add attachments, such as manuals, to your assets. If you need to run consistent insurance audits, you’ll be able to do this too.

Helpful features, such as issues management and equipment bookings, allow you to monitor asset performance and maintenance alongside their usage and location, giving you the best possible overview of how your assets are being used and how they’re behaving.


itemit’s Small Tool Tracking Software

itemit’s small tool tracking software is scalable, meaning you’ll be able to track any assets within the system. This means that no matter your industry, you’ll be able to use the system to gain more accountability over your asset register.

So, if you’re implementing construction equipment tracking, you’ll be able to log small tools and scale to IT asset management operations, too.

With itemit, you can mix and match your asset tracking technologies, also, meaning you’ll be able to use RFID tags for your small tools and high-value collections while using QR codes and barcodes for the rest of your asset list.

To find out more about how itemit’s asset tracking software can help your business, 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.

Small Tool Tracking Software

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How GPS Tracking Tags Improve Your Asset Tracking

How GPS Tracking Tags Improve Your Asset Tracking

How GPS Tracking Tags Improve Your Asset Tracking

Asset tracking software is reaching a new age. Only a few years ago, spreadsheets were the main method of logging and tracking assets. This creates a lot of gaps, including the fact that any audits would have to be undertaken on-site, with updates to a fixed asset spreadsheet occurring later.

Then, asset tracking software was created. With the cloud, it became possible to log any changes from onsite. What this means is that it became possible to edit asset data with the assets physically in front of you and for this update to be reflected across all of your asset management systems.

Since then, the technologies you can use alongside asset tracking software have also improved, and their integrations into asset tracking have also become quicker and simpler.

GPS tracking tags are in their infancy, meaning it’s a very exciting time to implement them and get ahead of the technology.

All You Need To Know About GPS and Barcode Asset Tracking


How Does GPS Asset Tracking Work?

GPS asset tracking works the same way as conventional asset tracking, only with more automation. You will still log unique assets onto a digital register and add data against these assets.

So, for example, if you’re looking for fleet asset management, you’ll be able to log each of your vehicles and add unique information against these profiles. This may be the driver the vehicle is assigned to and the licence plate.

Then, you’ll be able to tag your tools, vehicles and equipment with QR codes or barcode asset tags to speed up your operations. The benefit of QR codes and barcodes is that every time you scan a tag, the asset’s profile will open, ready for instant edits.

The difference is that with QR codes and barcodes when you scan the last seen location will update. With GPS tracking tags, however, your assets’ locations will update automatically.


How GPS Tracking Tags Work

you’ll be able to log this as an asset. Then, you’ll be able to stick on a GPS tracking tag and link this to your asset tracking software.

Then, your GPS tracking tags will periodically update. This can be configured, but GPS asset tags need to be charged, so the more frequent the updates, the shorter the battery life.

If you’re tracking your fleet, you’ll be able to plug your GPS tracking tags into your vehicles’ ashtrays, meaning that real-time updates are a possibility. However, with other assets, you can set the updates to be more spread apart, increasing the longevity of the battery life, but still giving you the location data you need.

Additional functionality with GPS tags will include geofencing, meaning that if your assets leave a location, you will be notified of this. Having GPS trackers allows you to make asset retrieval a possibility when assets leave your site, giving you more location accountability over your asset register.


The Future Of GPS Asset Management

It is an exciting time for GPS asset management. Currently, most GPS tags are bulky to allow for a long battery life, meaning that their best use-cases are for fleet asset management or to track deliveries.

However, the developments in the hardware are clear. Soon, they will have a longer battery life and will be smaller. So, while the technology doesn’t currently allow for GPS tracking when it comes to IT asset management or tools and equipment tracking, this will be possible in the future.

The idea behind GPS tracking tags is that you’re able to monitor asset locations when you’d otherwise lose accountability over your assets. For this reason, they’re fit for purpose in an asset tracking context, but the developments and improvements in the hardware itself will pave the way for more accountability, more transparency, and more control over your assets.

itemit’s asset tracking software allows you to use GPS trackers in tandem with RFID asset tracking systems and barcodes & QR codes. This means that with the itemit system, you will get the highest level of accountability possible on the market.

To find out more about how the itemit system will benefit 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.

GPS Tracking Tags

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How To Use An Asset Tracking System

How To Use An Asset Tracking System

How To Use An Asset Tracking System

An asset tracking system speeds up your daily operations and saves you time and money on the go. With a robust asset tracking system, you’ll be able to keep a clearer view of your asset register.

Maintaining an asset register is essential for auditing, tax, and insurance purposes. If you don’t have an asset tracking system in place, you run the risk of ghost and zombie assets which can cause significant issues.

What Is Asset Tracking Hardware And How Can You Use It?


What Is An Effective Asset Tracking System?

An effective asset tracking system will involve an app and web portal, as opposed to a spreadsheet. Spreadsheets are very manual and require time while also increasing the risks of human error and a subsequent loss of accountability.

If you’re using a cloud-based app and web portal, you can make changes on-site while you’re with your assets and then run reports on these changes remotely.

This will save you a massive amount of time, as you don’t need to make notes on-site and then transfer them onto a system later, and you can also share your asset tracking efforts amongst your colleagues. This also creates the possibility of maintaining accountability and transparency while you’re working remotely.


How Does Asset Tracking Software Work?

Asset tracking software allows you to log unique, digital asset profiles that mirror your asset register. Therefore, if you’re using your asset tracking software for IT asset management operations, you’ll be able to log each of your laptops.

Then, you can link your physical assets to their corresponding digital profiles by using asset tags. Asset tags will most likely take the form of QR codes or barcodes. Asset tags are auto-ID hardware that contain unique codes, allowing you to link them to unique asset profiles.

The benefits of using asset tags are that they save you time and give you more accountability on the fly. Every time you scan an asset’s tag, a few things happen.

  1. The asset’s profile opens
  2. The last seen location is updated
  3. The user who scanned the tag is recorded
  4. The time of the scan is recorded

This allows you to pinpoint when any edits to your assets take place, such as if an issue is recorded, and create an audit trail of where your assets are.


How To Use An Asset Tracking System

You will be able to record your assets as you tag them. Simply stick on your QR code and barcode and scan it and your asset tracking app will ask you if you want to create a corresponding asset profile.

You can also log your assets in advance and speed this up by cloning asset profiles or by using templates. Then, when you’re in the field tagging your tools and equipment, you can also run an audit to ensure that everything is accounted for.

Then, once you’ve set up your asset tracking system, how you use it is up to you. The best asset tracking software will provide you with multiple features that you can use to increase transparency and control over your assets.

For example, you will be able to use your asset tracking system as equipment checkout software to track who assets are rented out to, or you can use it as an issues management system.

All of your edits are updated on a customisable and exportable fixed asset register that you can run reports on. Once you have exported this register, you have something quick and simple that you can send to your finances team for tax returns, insurance operations and more.

To find out more about how itemit’s asset tracking system can help your business save time and money, 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 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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