Asset tracking software can be extremely beneficial for the growth of your business as it can lower your administrative costs and increase productivity. Logistics and manufacturing companies can ensure the safety of their assets with live and real-time locations right from their electronic gadgets. They can assign specific routes for their consignment, get real-time alerts and notifications in case of route deviations. With the help of Asset Tracking, companies can prevent the risk of theft.
As a result, you can easily monitor and track your equipment by installing a small, mountable asset-tracking hardware. Above all, tracking your assets is essential as it will help you to make informed decisions about your physical inventory.
Asset tracking software provides several benefits to an organization. For instance, with the help of barcode labels, GPS or RFID tags, handheld barcode scanners, and asset management software you can understand exactly where your assets are and where they’ve been.
Few Examples of Asset Tracking in various industries
Defense Contractor Trailer
Defense contractor calls a GPS Solution provider and asks for a solution on how their trailers that carry guns and equipment’s in another state be tracked, also how can police recover the stolen vehicle. This is it, simple with Axestrack’s asset and vehicle tracking solutions
School Bus for What?
While visiting a customer who runs a bus and car service in and around the northern region, the transport manager told us the story of a YELLOW SCHOOL BUS being taken out after hours. The employee who took the bus used it to shuttle it for local passenger transport around town turning tricks.
Lawnmower, Trailer and Tools
After having his trailer stolen for the 2nd time, the owner of a transport company in Delhi decided to put trackers on his tools. 2 months later, the same thief hit again. This time, our he was able to lead the cops to his stolen trailer. When they got there, they found a storage unit full of stolen equipment.
Where’s the Dishwasher/Exhaust Fan
Especially in 5-star hotels during the peak season, appliances were being stolen frequently from the inventory room. Today, high-end appliances and HVAC units are at constant risk of being taken off job sites or new homes. In conclusion, we’ve tracked stolen goods of all types in multiple cities throughout the country.
10 Key Benefits of Asset Tracking Software
Increase Customer Value
Customers are considered to be the cornerstone of your business and when they sign a contract to do business with you they expect a positive return on investment. Asset tracking software allows you to monitor and track your assets in real-time which will make your entire operation run smoother. It undoubtedly contributes to a better customer experience and delivers top-notch customer service.
Increase Productivity and Efficiency
Your assets can be scanned automatically as they move through different stages of the process if they are tagged with RFID tags. So it is not necessary to have people scan manually & log asset movements. You can focus on other areas of your business as it will free your employees from menial tasks.
Allows Maintenance Tracking
The software helps you to keep all the information & data of all assets. You can monitor the asset’s usage or condition and set repeat alerts for the regular maintenance of the equipment used in your business. Above all, it will reduce the unnecessary money spent on maintenance. In other words, maintaining your assets is crucial for the growth of your business.
Streamline Audits
Auditing plays a crucial role to determine the assets of what your organization owns and where they’re located. You can also schedule your audit timeframe, and receive status updates on the process with the help of asset tracking solutions. It will also reduce the compliance risks and ease the burden of audits.
Avoid Unnecessary Maintenance Costs
Therefore, it is necessary for you to track the life cycle of assets used in projects. You can easily get essential information about an item with the help of asset tracking software. When you get to know when the asset was bought, how often it’s used, and how regularly it is maintained you can anticipate devaluation and replace them on time.
Enables Asset Recovery
If your asset gets dispatched or lost from a big batch then tracing it can be quite a daunting task. Your business may also experience increased costs and delayed production. Using asset tracking software is extremely important if your organization is handling hundreds or thousands of assets as it will enable effective asset recovery to determine the exact GPS location of the asset.
Ensure Regulatory Compliance
Asset tracking solutions can reduce compliance risks. The software can help your organization to comply with regulatory requirements. In other words, you can streamline your reporting requirements and get detailed compliance reports with advanced asset tracking software.
Saves Your Money
You can get detailed information about your assets and make sure that your assets are not being stolen with the help of an asset tracker. You can also track the maintenance schedule as this helps in keeping a track of the life of your asset which will reduce unnecessary expenses.
Reduce the Chances of Error
Manual documentation can increase the risk of errors. This is one of the major benefits of asset tracking software as you can also get customized reports and make sure that data is more accurate and detailed.
Future Budgeting
The software will help you to focus on the budgeting of the future to improve your organizational efficiency and productivity. You can plan your future with asset tracking solutions. It can take your business to the next level. You can also track assets in real-time and consistently pass internal and external audits.
These are some of the benefits which can help your business to run more efficiently with the help of GPS-based asset tracking solutions. For many businesses manual tracking can be a challenging task so utilizing an asset tracker can ease the burden of tracking your assets
Types of Asset Tracking Techniques
Asset tracker will help you to get accurate information and maximize operational efficiency. The software will ensure that you get accurate tracking and management of all the physical assets of a company. However, several methods are used for asset tracking. Some of them are:
Barcode (QR Code)
Barcode is a series of black and white parallel lines and it is one of the most effective and reliable trackers. It is economical and you can see them in almost every product. Barcode is simple to use but they must be properly aligned in a straight line in order to get scanned.
Radio Frequency Identification
RFID asset tracker uses radio waves to track the product. It is faster and more protected as compared to a barcode scanner. It also enables digital data encoded in RFID tags.
Near Field Communication(NFD)
To track and monitor your asset you do not need any specific scanning equipment as you can use your smartphone for asset tracking. In addition, RFID but you cannot use it from a distance as it has only a few inches of range. You should stay close to the asset or inventory.
Bluetooth Low Energy (BLE)
Bluetooth is enabled signals can be picked by your smartphones. You can get accurate information as your moving tracker signals can be picked by Bluetooth getaways and so on. You can get the precise positioning of your assets.
Global Positioning System (GPS)
Therefore, global Positioning System will help you to track your assets across the world. It is extremely beneficial for your business as it monitors your assets and inventory efficiently. However, it will also provide you with all the information you need about your asset.
In conclusion, these are some of the methods which are used for asset tracking solutions and it provides numerous benefits to the organization. The asset tracking software offers great assistance in customer service and also saves your assets from theft or loss.
How Did You Do It?
to sum up, in every case where external power is inaccessible, we use GPS tracking devices that are battery-powered to track equipment and trailers. These devices are weatherproof and have batteries that last from 3-7 Days depending on how they are set up. The data from the trackers is sent to the servers and is accessible on our web portal and on the mobile app.
