An asset is an item possessed by an organization having an economic value, that can be estimated and measured in money. Maintaining accurate asset registers, being aware of the location of the asset and its working condition improves the performance of the asset. From the purchase of the asset to its disposal, if the asset is tracked, maintenance and repairs can be scheduled to
avoid any unnecessary expense. It is essential to track the assets of the organization to have deep insights into the location and working condition of all the physical assets.
What is Asset Tracking Software?
An asset tracking software provides solution to track the assets of the organization and their functioning capacities. It enables to locate and monitor
the entire assets of the organization. In simpler words, it is a digital representation of a physical object. It is a method of capturing the asset’s data
and information. Instead of manually handling the entire asset, asset tracking software automates asset management. An accurate real-time data is available to the user.
Benefits of Asset Tracking Software
Enables Asset Recovery and GPS Positioning
In industries where large number of assets needs to be handled and an asset gets detached from its principal batch, tracing would be very difficult. An asset
tracking software eliminates these difficulties and avoids unnecessary delay in production. The efficiency in which the assets are moved during production
process can also be determined. The GPS location of the asset can be ascertained with the help of the Asset Tracking Software.
Better Customer Service
Customer of businesses are in advantage of knowing the position of their
assets in real time with the help of Asset Tracking Software.
Real Time Asset Management
A unique id can be assigned for every asset. The assets can be monitored
virtually right from the date of purchase to the date of disposal.
Asset Tracking software enables shift in physical management of assets to virtual asset management, thereby reducing the labour involved.
Avoid Unnecessary Repair and Maintenance Costs
An asset tracking software gives you information on the productive work cycle
of the asset, hence preventive maintenance can be scheduled easily. This
avoids any unnecessary repair costs to the organisation.
Helps to Conduct Asset Audits
An asset tracking software enables to perform asset audits easily. It also helps
in complying to the statutory and regulatory norms regarding asset usage.
Since the data provided is accurate, informed decision can be taken.