What Are Asset Tracking Solutions?
An asset tracking solution, or asset management solution, combines hardware and software solutions to track an organization’s physical assets, using either a barcode label or more advanced methods such as GPS or RFID tags, all of which broadcast the assets’ location.
Investing in an asset tracking system provides business owners with a way to digitally identify an asset’s location and usage. Virtually any type of asset can be tagged using this system. Once connected, asset management software provides valuable data that can help organizations better manage their assets.
Simply put, when a company has visibility into the assets that comprise their operations, there is opportunity to improve efficiency and productivity while minimizing risk and meeting compliance and regulatory requirements. For all of these reasons, this solution is a critical tool.
What Are the Benefits of an Asset Tracking Solution?
The use of an asset tracking solution ensures that business owners gain more insight into what is occurring with their assets at any given point, including:
- Real-time GPS Location: An asset tracking solution can locate and record asset location in real-time, while using fewer company resources and lower administrative costs in the process.
- Gain Insights that Improve Asset Utilization: These tools provide more insights into how assets are being used. For example, you can monitor yard movements, yard entry and exit times. These insights help organizations make better decisions about how assets are used now and in the future.
- Monitor Asset Health: In addition to monitoring where an asset is, tracking systems also remotely monitor asset health on an ongoing and real-time basis. For example, you can set up alerts for entering and exiting a geofenced zone or monitor for temperature changes that could impact assets.
In addition to these benefits, asset tracking tools provide data to reassign asset use between organizations or departments based on location data or use information.
These are just a few of the ways these solutions track and improve efficiency while reducing overall costs.
Most asset management software is scalable, allowing you to grow your company and asset tracking needs. With these tools, you can see better overall management of your operation, including:
- Better oversight of regulations and compliance requirements
- More insight into the overall condition of assets so maintenance can happen sooner
- Lower administrative costs because people no longer need to track or locate assets manually
- Track asset loss and develop ways to optimize their use to reduce future losses
- Create more accountability within the company regarding asset management
Why Invest in an Asset Tracking Solution?
When it comes to the proper operation of your company and its assets, more information is better. Asset tracking provides smarter, targeted data around assets which can be used to deter theft, reduce insurance claims and provide data-driven insight into operations and efficiency.
In these ways and more, asset tracking solutions are a vital tool for improving overall operational success.
Finding the Solution
New and innovative asset tracking solutions continue to evolve to meet organizational goals:
- Track the movement of assets indoors and create custom maps and utilization data to address and improve operational needs.
- Gain insight into asset location, to identify theft, unauthorized movement, or engine runtime concerns early on to minimize risks sooner.
- Handle intense conditions, including harsh temperature conditions, using impact sensors that indicate whether a system or asset has been damaged.
- A super-long battery life ensures that you can track assets for a longer period of time.
Want to know more? Contact your ZenduiT consultant and ask how our asset tracking solutions can benefit your organization.