Acquiring precise information about assets is one of the most crucial jobs of fleet managers. Another herculean task for them is knowing, which asset is required at which location so that any work operation is not hindered.
Hence, fleet managers must know where their vehicles, equipment or assets are, in order to properly utilize them.
The asset tracking system provides all the required information that asset & fleet managers need.
What is Asset Tracking System?
Asset tracking or management is simply a process for tracking and monitoring the company's fixed or movable assets for financial accounting, preventive maintenance, and theft deterrence purposes.
It enables you to track your asset's movement. Assets include costly items such as laptops, computers, vehicles & other equipment or something which is very important to a business. The asset tracking system 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.
The main objective of asset tracking software is to increase asset control and decrease equipment loss in your organization. The software provides several features through which you will be able to save your valuable money & time such as asset management, inventory management, scheduled maintenance, etc.
Indeed, asset tracking is crucial to your organization's business growth and compliance.
What Are the Techniques Used for Asset Tracking?
There are several techniques can be used for asset tracking such as:
- Barcode Label - Your valuable item can be tracked via barcode technology. The barcode tag can be scanned with a barcode scanner or mobile. Barcode labeling is very cost-effective.
- RFID (Radio Frequency Identification) - RFID also used for asset tracking. It can either be a small range or long-range depending on your business requirement. RFID tags can be active or passive. With the RFID tag, a person can scan multiple assets within a few seconds.
- GPS (Global Positioning System) - Assets may be tracked all around the world utilizing gadgets that consolidate the GPS system or cell phone. Such gadgets are known as GPS asset trackers, they have an internal battery for power.
- NFC (Near-field Communication) - The latest pattern in resource following is utilizing NFC, this is the latest technology developed for Asset tracking. NFC improves tracking with just a few taps & you will receive all the information.
Also Read: Simple planning can reduce capital expense and increase asset productivity
How Asset Tracking System Provides Assistance to Fleet Managers?
The asset tracking system provides several benefits to fleet managers and below we are discussing 6 benefits of asset tracking for the fleet managers:\
1. Real-time information
Old & traditional methods for asset tracking can be a wasteful work procedure. Specifically, for fleet managers.
For instance, if a fleet manager is simply utilizing a spreadsheet saved locally to their work PC to track devices, equipment, assets. Then other team individuals won't be able to access the information they require.
Therefore, the spreadsheet method is not a foolproof method for asset tracking, on the contrary, it is prone to errors. As a result, it affects the productivity of an employee as well as the organization.
The cloud-based asset management system provides real-time information on each asset without compromising on accuracy.
2. Accurate asset tracking
Tracking assets for your restaurant is no simple job, particularly if your restaurant has multiple branches in different areas. Assets come in all sizes small, large & very large. Thus, the asset tracking system enables you to track all your assets in real-time.
For example, if you have several delivery vehicles so you can keep track of each & every vehicle. You can also know if they are in a halt position or if someone is using it, what is the current status of the vehicle.
The tracking software gives you accurate and exact information. It is one of the best options for tracking depreciation and value of each & every asset.
The software always plays an important role in maintenance activity. Therefore, it keeps them in a good and efficient position. It also helps in improving the asset's performance.
Also Read: What Are the Requirements of the Asset Management System?
3. Proper asset maintenance
One must do maintenance activity on a regular basis. Because if you wait for a machine to deteriorate, then it will hurt your pocket. It will be a wastage of time. Moreover, your work and productivity will suffer.
So, it's better to avoid the disaster scenario. Maintaining assets is one crucial practice, yet most of the organizations fail to do it which leads them to a blunder consequence.
One of the most important benefits of asset tracking software for fleet managers is, when you plan a maintenance activity it will lead your asset to persistence & better performance.
The best part is you don't have a keep a track for it, manually. Asset tracking software does it for you. It will also notify you of your upcoming equipment maintenance activity.
4. Streamline operations
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 streamlines daily operations & makes the process better, which will enhance your reputation professionally & increase business productivity.
5. Minimizing theft
Thousands of dollars can be saved if proper asset management is done. Asset theft or misplacing asset is very common in every industry.
If we speak about a construction site there is very low security or no security at all. It increases the chances of employee stealing. This also means anybody can enter the working-site and steal assets (tool, equipment, vehicle, etc.).
Equipment theft impacts the business in many ways! For instance, when equipment is lost or theft then, the daily operation gets affected & the project is not completed on time. It directly impacts the company's productivity & bottom line.
6. Enhance productivity
When there are several issues that can be noticed in almost every organization & still no action is taken. Hence, productivity decreases.
Asset tracking system gives full visibility and control of maintenance activities, so fleet managers can see how much task is completed and how many needs to be performed.
It identifies the task on a priority basis & organizes in such order that no task is neglected. Moreover, it also helps in improving work efficiency.
It also assists in planning tasks and record work so the team can finish their job at the earliest. With proper tracking & planning, the output & productivity increase, and stress is decreased by the team.
Also Read: How Crucial Is It to Include Real-Time Asset Tracking System?
These are the only a few benefits of utilizing an asset tracking system, there are several other benefits too. Fleet managers can also customize asset management software according to their specific requirements. We understand that all organization has a different way of working.
Hence, this software can be tailored according to your company's specific needs. You can contact us or schedule a free demo, we will be happy to assist you.