A Buyer’s Guide To Asset Tracking Software

Companies with a huge array of assets tend to shift them from place to place as needed. Nevertheless, this continual movement  can result in assets getting mislaid and lost.

Supply chain or other asset-driven businesses are quite familiar with this challenge and are looking for a means to monitor and manage their assets. This is where effective asset tracking software solutions come in to help companies like this leverage their assets to their full potential and at the same time boost productivity and decrease the costs of replacement.

What To Look For In Asset Tracking Software? 

• Inspect and track any asset by project details, assignment, location and type
• Insert images, warranty data, or manuals to asset information from a mobile device
• Arrange, catalogue, allocate, and execute assets service tickets 
• Establish the full cost of proprietorship all through the lifecycle of the asset
• Facilitate processes to execute vital preventative maintenance
• Enable transparency with customisable, permission-centric dashboards in real-time

Who can benefit from asset tracking software? 

Businesses must realise that asset tracking software solutions are vital to various types of organisations, but particularly within businesses that are highly asset-dependent for processes. Manufacturers, construction businesses, airlines, fleet companies and so on for example, all need to monitor and manage advanced equipment. In these sectors, asset downtime leads to a drop in productivity, income, and possible eroding of customer satisfaction. 

What’s more, even organisations that are not in asset-driven sectors still need to regulate how assets perform. Imagine that a hotel business has a bunch of properties that must all be run at peak levels to maintain the comfort and safety of staff and guests. Assets that one may not pay attention to, like fire protection sprinkler systems, water heaters, and HVAC systems are vital to running a hotel well. Asset failure or downtime could risk the health and safety of the guests and staff in the hotel.

Why Choose Asset Tracking Software?

Consolidated platform for all assets

Well-designed asset tracking software development systems offer a central database equipped to systematise all asset data on a single platform. Accordingly, it becomes simpler for all involved to know where the assets are and maintain them efficiently – be it pallets, trucks, power tools or water blasters, asset tracking software can track and manage a range of assets. 

Additionally, thanks to cloud-based benefits, asset tracking systems offer managers and employees assurance that their data remains secure and easily accessible.

A complete view of assets

As large sets of assets are shifted around often, being taken to various project sites or offices, a few of them are likely to get mislaid.

With the help of asset management systems you can overcome this issue by getting comprehensive and clear asset visibility on a single centralised dashboard, presented via a table or map form. Users will be able to access this information through tablets, desktops, as well as smartphones. 

An asset tracking software solution has adaptable usage and is ever present to offer everyone involved in a project the data they require, exactly when it’s needed.

Detection of possible asset loss

It doesn’t make sense to do nothing till an asset gets stolen, in fact managers need to preemptively ensure that assets remain securely stored and tracked. 

While an asset is en route for more time than was set for a particular project, then it will show up in the unidentified category on the asset tracking system. It helps teams to detect assets that could be possibly misplaced, or it could come under expired geofences after the work is complete and the asset has been left on site mistakenly. Geofences created for companies via asset tracking systems help them detect asset positioning and utilisation and also enable them to carry out efficient customer billing. 

Updates and maintains all assets

You will find a host of asset tracking systems available out there, so it might prove a challenge to know which one to pick. You can opt for asset tracking software solutions that can be integrated with mobile devices. With these systems you get a platform that offers a convenient and cost-effective way to monitor assets while on the move and while in storage. Notifications and alerts can be set up to prompt employees to proactively maintain assets or upgrade them with more advanced parts if needed. They would have access to all information needed for asset maintenance and the system will automatically ensure equipment and items are functioning at peak levels. 

Asset tracking software gives you improved insight into the performance and soundness of critical equipment and converts information into decisions.

It ensures that assets are in peak condition and upgraded as you can program it to send notifications for various aspects of maintenance for all your assets. This system increases the durability by enabling timely maintenance and lowering likelihood of unanticipated failure.

Generating actionable reports

Shifting from paper-driver solutions and spreadsheets to custom report generation is one of the key benefits of asset tracking systems. Using this asset management platform, users will be able to filter data and consolidate the data needed to make required decisions.

Hitting just a few buttons, asset managers can generate all of the asset reports they need, so they are able to calculate what and how much assets they need to purchase, what to inspect, and which assets are not being leveraged to their full potential.

This software allows businesses to concentrate on managing the vital needs of their customers while cutting costs, time and resources by steering clear of the task of physically attempting to find the correct assets for particular projects.

Businesses today are using asset tracking software solutions for greater control of assets and to dramatically increase their revenue and customer satisfaction.