The Benefits of Small Tool Tracking Software for your Business

Small tool tracking software will help your business grow by giving you more control over your assets. The control and transparency a fixed asset register of your tools gives you will help you make better business decisions.

Knowing where your tools are, who is using them, and their status allows you to view your operations with ease and calculate operating costs more effectively.

The Need For Small Tool Tracking Software

Businesses need small tool tracking software to minimise risks and to maximise the ability to make decisions.

Theft in the construction industry is a huge problem, for example. Having small tool tracking software helps you mitigate this risk, as well as view which tools are on-site and which are in a warehouse.

Overall, small tool tracking software streamlines and simplifies your operations by showing you the time and costs related to equipment use. This data is exportable, and you’ll be able to use it to find any gaps in asset usage. For example, you’ll be able to mitigate problems related to ghost assets and zombie assets.

Using a Cloud-Based Asset Tracking System

A cloud-based asset tracking system allows for greater collaboration. Any updates that occur will happen in real-time across your user-base. What this means is that if someone on-site logs a need for asset maintenance, your maintenance team will see it instantly and be able to fix the issue.

Cloud-based equipment management systems also allow you to track your asset use on-the-go. Instead of creating red-tape and bureaucracy every time an asset’s status changes, as you’ll have a cloud-based system, your colleagues will be able to log the change for all the relevant people to see. 

This improves your work processes, as a job shared is a job halved. Therefore, if as many of your colleagues as possible are using your small tool tracking software, any asset use can be logged faster and by more people, rather than giving one person a tremendous amount of time to spend on administration.

GPS Tracking and Geolocation

Using geolocation shows you where your small tools are and where they have been. This benefits your business as it gives you a quick and fully transparent look at which tools are on-site, which are in a van, and which have recently been used, increasing accountability.

There are two main ways you can track asset location: 

• QR Code/ RFID Asset Tags: These asset tags track last seen location. This way, you can see who has interacted with your tools (whether it’s colleagues or contractors), when, and where.
• GPS Asset Tags: GPS asset tags periodically update where assets are. With these, you can retrieve assets if they go missing or are stolen. 

A mixture of both types of tag gives you a full audit trail of where assets have are and where they have been. This improves asset retrieval time and allows you to assign equipment to projects faster, saving you time and money overall. 

QR code asset tags and RFID tags also speed up your operations, as you’ll be able to scan the tag to retrieve an asset’s profile, speeding up logging any changes.

Find out if QR, RFID, or GPS asset tagging is right for you:

Minimised Asset Downtime

Asset downtime can quickly become costly. With effective small tool tracking software, you’ll be able to minimise the downtime assets experience.

Equipment maintenance tracking is essential, as not only does this keep your assets healthy and running to the best of their ability, but it also minimises the downtime assets may require.

You’ll be able to use your small tool tracking software to raise, track, and log maintenance. You can raise routine maintenance by creating a reminder, and raise reactive maintenance by creating an issue.

As your maintenance team will also be able to comment on asset changes while they’re interacting with an asset, you’ll also be able to log the amount of time they’ve spent with the asset for invoicing purposes.

Scaling Your Business With Small Tool Tracking Software

Overall, the benefits of small tool tracking software are that they can improve your operations and your operational speed. Keeping your projects on time and under budget is essential for your business’ growth.

Therefore, small tool tracking software will be able to help your business grow by saving you time and money, and by keeping everything you do fast and efficient.

To find out more about how itemit’s small tool tracking software can benefit your business, you can contact us here or fill in the form below.

Or, you can check out these blogs:

The Future of Our UK Asset Management Software

Developments in Construction Equipment Maintenance Software

Key Features to Look for in Fixed Asset Inventory Software

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