This is software that enables us to track the movement of assets within an IT environment. Asset tracking software can map all the IT assets within an organisation. This software can be used by system administrators and network administrators to monitor the overall IT assets in an organisation and note their movements. IT can compile all IT assets and inventory in an organisation-wide setting.
Some of the tasks performed by the software include the following:
- Software inventory management
- Hardware inventory management
- Network inventory management
- Software licenses management
This can be expanded to cater for other machinery and equipment that can be tracked using trackers that are installed on to them and remotely monitored as they do their day to day operations. The fleet management industry is the primary beneficiary of tracking systems.
Benefits of asset tracking software
People should be aware of the working conditions and the locations of their physical assets all the time. Tracking assets allows businesses and companies to increase their growth and profitability. By using the leading asset tracking software, you can monitor the performance of an asset right from the time of purchase up to the disposal period and know when to schedule maintenance, part replacement, and repairs. Below are some of the benefits a company or a business gains by implementing tracking systems in their assets.
Asset recovery and GPS positions
An organisation handling thousands of assets needs to implement a tracking system in all of their assets so that in case one of the batches detaches, they can notice easily. It will save the company a lot of time, and the business process continuity is achieved within the minimum time possible because the tracking system monitors all the assets. It will be easy to locate astray assets with minimum efforts.
Improved customer services
Companies can expect positive reviews from customers due to the timely delivery of services and goods. Real-time information about stock on transit can be relayed to the customers, which creates trust. The tracking system allows you to transform and improve your business processes to best meet your client’s satisfaction.
Real-time asset management
Companies and businesses can spot their assets any time and intercept unscrupulous staff who peddle the company’s property for their interests.
Reduce labour waste and improve productivity
Asset tracking reduces menial tracking of the assets as they move around the processes in different departments. You can now let your employees focus on areas where they can be more productive to the company.
Avoid unnecessary repairs on equipment and machinery
It reduces the cost of maintenance by eliminating unnecessary repairs and maintenance. The tracker schedules the maintenance and replacement of parts. You can also use tracking systems to monitor the depreciation of assets and their current values so that it will reflect accurate data in the financial books of accounts.
Tracking maintenance and scheduling the maintenance and can pinpoint those parts that are counterproductive for further action to be taken against.
Asset audits and setting a stock threshold
Internal or external audits are important because they identify assets and licenses that do not add value yet they incur costs to the business. Asset tracking improves the visibility of assets in the organisation.
Streamlines maintenance costs
Asset tracking systems streamline the lifeline of asset maintenance by scheduling time for their maintenance, sometimes when a maintenance lag behind schedule, then it becomes costly than when done right on time.