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Asset Management

How To Track Your Assets

By Dr. Alex Wong
July 26, 2024 • 3 min read
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How To Track Your Assets
Home 5 Asset Management 5 How To Track Your Assets
Tracking assets is essential if you want to manage them effectively. Unfortunately, not everyone knows how to do just this. A lot of businesses still rely on old technology such as spreadsheets to help them with their asset tracking. Nowadays, however, you can rely on the very latest apps and programs to help you track your assets. Consequently, managing everything can be easier than you imagined.

What Exactly Is Asset Tracking?

The world of asset tracking is an exciting one as it offers multiple opportunities to look after and manage your assets. When you want to understand where your assets are located you can use software that lets you track them. You can see where your assets are and where they have been. You may also be able to see which colleague is using a particular asset. 

Some tracking software also comes with features that allow you to check your assets out and back in again. Others also allow you to organise everything into collections for easier access. Tracking your assets via the latest software usually allows you to do so much more than you may realise. As such, you can have better control over every asset.

Business Asset Tracking

How To Start Tracking Your Assets

To start tracking your assets you simply need to attach a QR code or an RFID tag to each asset. Scan the QR code or RFID tag and a profile will automatically open up. This profile can be populated with a lot of information about each asset. As such, it can be easier to identify the asset you wish to track or you’re searching for.

What Are The Best Assets To Track?

There are no ‘best’ assets that you can track. What you should do, however, is to track all of your assets or at least your most valuable. If you work in a factory, you could track your most important production machinery. If you work in an office you could track your newest laptops. If you work as a gardener you could track your most valuable tools. Alternatively, you could harness the power of asset tracking and choose to track all of your assets. The more you track the greater the better as you’re likely to benefit in multiple ways.

Tracking Fixed Assets

Did you know that you can track your fixed assets? These are assets that typically remain in one location. Tracking them can be a good idea as it could allow you to understand how they are being used. Thanks to the way that a lot of modern tracking software works you can create data about your assets. This data could prove to be immensely useful as you could understand your business in a more detailed way.
itemit asset tracking software logo

Which Industries Can Use Tracking Software?

Which industries can use software such as this? It’s simple: 
  • Construction
  • Education
  • Healthcare
  • Office and warehouses
  • Large and small technology companies
  • Manufacturers
  • Retailers and wholesalers
  • Gardeners
  • Sole traders
  • And everyone in between 

Almost every industry and every sector can benefit from using tracking software. As long as there are assets to track, your industry could harness the power of this groundbreaking software.

Taking Control Of Your Assets

Taking control of your assets has never been easier. We saw earlier that you need to create an asset profile so that you can see where your assets are. However, when you begin to use asset tracking software you’ll see that it offers more than just tracking options. You can see who is using your assets, where the assets are located, how often they’re used, and even why. You can assign particular tools, vehicles, and anything else to particular people. You can also create reports that can be exported so you can read them. All of this allows you to have more control over everything. When you have that control you can help your business to grow.

Keeping Assets In A Good Condition

When you use software that works for you it can help you to keep everything in good condition. The feature that allows you to set reminders enables you to keep on top of maintenance. You could do this by setting maintenance reminders for every asset. As long as someone from your maintenance team receives the right notifications they can see what needs to be repaired. 

So what does this mean for the condition of your assets? It means they are more likely to be in a better condition. Consequently, they can last a little or a lot longer, helping to save you money. It also means that you and your colleagues have more assets that are in good working order, all of the time. This is just one of the benefits associated with using tracking software. 

Would you like to speak with an asset tracking expert about tracking your assets? Contact us today at team@itemit.com.

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Dr. Alex Wong

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Benefits of Tracking Heavy Equipment

Dr. Alex Wong

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit.For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results.A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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