What is Asset Tracking?

Every business organization irrespective of the products it produce or the services render has its own assets. These assets are crucial to the continuous existence of business organizations. They are different categories of assets use by business organization based on the area of the business operations. The adequate security of an organization’s asset is very important. In view of this, different strategies have been introduced over the years to safeguard companies’ assets. One of the most common ways businesses in the 21st century secure their assets is Asset Tracking.

Asset Tracking is a technique of managing high value equipment (like generators, tools, Overhead valves etc) using advanced technology like GPS tracking devices, Barcodes, or RFID tags.  Asset Tracking is tailored towards improving the security of a company’s asset and to ensure that these assets are properly utilized.

There are different methods of tracking assets in an organization. However, most companies that track their assets prefer using GPS tracking device. This is due to the fact that assets tracked using GPS tracking devices are easier to manage and it offers a detail analysis of data of the tracked asset to the users.   GPS asset tracking device enables companies to know the exact location of their assets at all time. This is because it has a location transmission features that functions with cellular or satellite networks.

Benefits of Asset Tracking

The benefits of Asset tracking can never be over emphasized. Research has shown that since the emergence of asset tracking as a way to securing organization’s assets they have been drastic reduction in cost and increase in revenue. Some of the benefits of Asset tracking are discussed below;

  • Ascertain Exact Asset Location: One of the benefits is the ability to know the exact location of their assets at all times. This will enable them to properly manage these assets and deploy them to where they are needed.
  • Variety of Options: Asset tracking comes with different options depending on the location and the size of the assets that need to be tracked. Some of the options are; Barcode labels, RFID Tags and IoT beacons. With this, Assets can be effectively tracked irrespective of the asset category or size.
  • Warranty tracking: When assets are tracked, accurate records of equipments or assets under warranty are provided. This will generate an automated alert when a work order is created thereby dispatching the warranty contractor for service to ensure that the equipment is properly repaired.
  • Better Knowledge of equipment performance: Organizations that track their individual assets have detailed insights into their equipment performance. This will help them to save more money, reduce cost, reduce equipment downtime and control loss stock.
  • Better Purchasing Decision: Asset tracking can help individuals and organizations to make better purchasing decisions when it comes to replacing an existing asset. This is due to the fact that ongoing tracking data can easily be used to evaluate initial purchase data.

Safeguarding and maintenance of assets is important to the growth and success of every organization. In view of this, it is the responsibility of every organization to key into any asset tracking program that will enable them to efficiently account for their assets.

How can TechnoSource Assist with Your Asset Tracking Needs?

We are specialists in Wasp Asset Tracking Solutions which features an easy to use interface, comprehensive reporting, automated tracking, state-of-the-art security perfect for tracking your valuable assets. Wasp Asset Tracking System is the most preferred solution for defense and security industry, small and mid-size businesses, mining industry, legal and accounting firms, healthcare industry, government and non-profit organizations and constructions industry. Click here for more information on Wasp Asset Tracking System pricing and packages.

2022-03-15T20:51:05+10:00 June 19th, 2017|Asset Tracking|0 Comments

TechnoSource Australia Pty Ltd:

Prakash Gupta from TechnoSource Australia has been working in I.T. Industry since 1987. He has worked in Utilities and Aviation Sector, followed by Retail, Wholesale and import & Distribution before starting his own venture within barcoding industry. Since 2007 Prakash has been supplying barcode hardware and software solutions throughout Asia Pacific region. He specializes in solutions for Retail, Manufacturing, Warehousing & Logistics, Government, Education, Healthcare, Construction and Mining sectors. He has a good understanding and knowledge of business processes being followed in different departments of any organizations. This has enabled him to successfully implement barcoding solutions for Warehouse stock control, Asset Tracking using mobile devices and Point of sale systems to help improve business processes that result in increased productivity, efficiency and profitability for customers of TechnoSource Australia.

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