Any business can only remain profitable if its assets are accounted for. That includes the status of the equipment and inventory and the presence of skilled staff where they’re needed. However, as a company grows, it can be challenging for a single person or even a team to track everything manually. That’s where you need asset tracking software to rescue the day.

It can automate several processes and bring benefits that directly impact your bottom line. Still, that can be tricky to implement when you don’t know how asset management systems work. If so, then this is just the guide you need.

What Is Asset Tracking Software?

An asset tracking software utilises proven IT techniques to monitor physical systems through digital means. That can include barcodes or QR scanners for employees and equipment, sensors to measure specific aspects, and creating digital records only privy to the requisite employees.

The best part about such asset management systems is that you can modify them as per your needs. For example, suppose you operate a fleet of 30 trucks and plan to add 5 more. In that case, your vehicle tracking system can easily accommodate the extra 5 with only a tiny investment of IDs and trackers.

What Are the Benefits of Having Asset Tracking Software?

Using robust asset tracking software brings about several advantages. A few notable ones are mentioned below.

1. Speed Up Inventory Counts and Audits

When you track all your assets digitally, you can count inventory and conduct audits more conveniently. Your floor manager can email you daily reports without having to patrol the warehouse for hours. They have to look up the database and quickly relay the required data. That also speeds up the audit process by drastically reducing the job of day-long analysis to a few command lines or clicks.

2. Extend the Life of Your Assets

The appropriate asset management systems allow you to monitor the condition of all your active assets in the business. That way, you can create repair jobs or maintenance schedules more efficiently, extending the life of the assets you employ in your organisation.

3. Reduce Maintenance Costs

When you keep tabs on the conditions of your assets precisely, you only require maintenance when they require it the most. Thus, the overall costs reduce as there is less wastage of time and resources on non-essential repairs. Moreover, you can free up some space by only ordering the maintenance equipment ahead of scheduled work orders instead of storing them for extended periods.

4. Keep Track of Key Documentation

Manuals, safety guidelines, maintenance guides—it’s easy to lose track of paperwork. Fortunately, you can upload this information directly to the cloud using asset tracking software. An advanced version can even add links to the documentation to an item’s profile to let other personnel gain quick access.

5. Reduce Chances for Asset Theft/Enable Asset Recovery

Tracking all assets within the premises makes it nearly impossible for malicious individuals to steal them. Your system can alert security if any asset leaves the designated location or is being accessed outside of the authorised timetable. Unique QR codes are also essential in asset recovery, as they can convey the relevant ownership information to the authorities.

Final Thoughts

Asset tracking software is highly flexible and makes things more convenient for everyone involved in the enterprise. But, they can only deliver the benefits mentioned above when you best configure them to your requirements. If you want to do that within budget, Qbasis can help you. Connect with us for a free quote today.