There are several asset tracking software benefits can be noticed, once it is implemented in an organization. It will provide better control over your assets and enhance business productivity.
With the software, you can achieve the best performance from your assets. However, companies do not utilize the software to its full potential.
What is Asset Tracking Software?
It enables you to track your asset movement. Assets include costly items such as laptops, computers, vehicles & other equipment or something which is very important to a business. It provides information such as asset status, location, etc.
Asset tracking software benefits are accomplished via RFID Tag, GPS, QR Code (asset tracking method). The main objective of the software is to refine the asset usage, provide security to valuable items & scheduling maintenance.
Another objective is to increase asset control efficiency and decrease equipment loss. This software provides several ways through which you will be able to save money & time for your organization.
Indeed, asset tracking is crucial to your organization's business growth and compliance.
Also Read: Why is Asset Management Software a Necessity for a Company?
What are the Benefits of Asset Tracking Software?
Few most popular advantages of asset tracking software are described below
1. Real-Time Asset Tracking
Asset tracking keeps you informed about your assets. One of the main aims of implementing asset tracking management software is to provide real-time information when assets are in transit.
Let us see from a manufacturing company's point of view. They send a lot of bulk orders on a daily basis and they need to keep informed to their client about when the order will be delivered. Therefore, real-time asset tracking lets you know as they are moving or arriving at a specific location.
Other than this, it is helpful in maintenance as it set alerts for asset maintenance, it also assists in auditing (internal or external) process.
2. Enhancing the Asset Life Cycle
Tracking asset life is very crucial for any organization. With the asset tracking software, you have the capability to see if the asset is working properly or not, either it needs any kind of maintenance or not. Overall, it makes sure that the asset is functioning properly & performs as per the expectation.
When you are completely aware of what's going on with your assets you can make a reasonable decision in order to save expenses and extend the life of an asset. One of the major asset tracking benefits is that it enables us to track, manage & increase their assets' lifecycle.
3. Maintenance Tracking
Maintaining assets is one of the mandatory practices for a growing business. If an asset is not maintained, then sooner or later assets will not function as it was used to. Therefore, maintenance tracking is very useful for every organization.
Moreover, you will get customized notifications for asset maintenance. It means you do not have to worry about maintenance neither you have to write manually in records. This asset management software keeps each asset history record which you can see anytime.
4. Ghost Asset Identification
Remember last year you brought a few laptops and one of them went missing. You don't know its whereabouts. In simple word ghost assets are those assets which are written in your books but physically missing.
But with Asset tracking software, you will never lose assets again. It always provides you with asset data and its whereabouts. Asset tracking software keeps details such as which asset is assigned to which employee.
Also Read: Key Features to look while choosing Asset Management Software
5. Increasing Labour Productivity
If assets are tagged with RFID labels, they can be scanned automatically, and RFID can scan multiple items at one time. Hence eliminating the need to scan manually & log their movements. Utilizing this technology will free your workers from boring responsibilities and leave them to concentrate on other operations of your business.
6. Schedule Maintenance
When assets are well-maintained then it definitely helps a company's bottom line. If you are able to track assets, then you can keep them in good condition via schedule maintenance.
This activity takes place after a certain period of time in an organization, depending upon the nature of an asset or the business. This job is part of the planned maintenance activity. It is effective because it makes the asset as brand new and increases the asset's life.
7. Streamline Daily Operation & Audit
Auditing is very important for verifying what assets your organization owns and where they're located. The auditing part plays a crucial role while calculating taxation. Without the asset tracking software, the audit process can be long, exhausting & even after that there is no surety that the asset evaluation is correct.
The asset audit software lets you schedule your own audit timeframe, receive status updates on the process. It makes the process simple as well as easy. You can execute auditing without any issue & swiftly. Asset evaluation is also accurate.
Through the use of asset tracking software, you can improve your daily activities & operations. It removes the unnecessary steps from the daily operation & makes it more efficient as well as quick.
Therefore, it makes the process better, which will enhance your reputation professionally & increase business productivity.
8. Unproductive Asset Detection
It is crucial to track unproductive items that you are not using it, however, still spending money on maintaining it. These types of equipment hindering an organization's productivity.
This is where Asset tracking software comes into play it can monitor and anticipate depreciation of items, and hence you can replace them. It assists in growing your business by identifying unproductive items.
Also Read: Leading Attributes of Asset Management Software in 2022
All these asset tracking software benefits may not fit in your business. But it will definitely boost your business. It increases the productivity of assets, employees, and organizations. It enables us to keep real-time monitoring of your assets.
Asset Tracking System informs you about how many fixed assets you own, what is the exact location of an asset, or what's the condition of that asset. It can give you notification & alert when an asset needs maintenance.
These are not the only benefits of asset tracking software, there are several other benefits too. Such as helpdesk, utility monitoring, preventive maintenance, breakdown reporting, and many more. We at Asset Infinity are fully capable of enabling your business to accomplish all the above! You can also schedule a free demo with us.