How Does Asset Tracking Work For You

When talking about asset management, let's first look at what an asset is defined as. This is defined as "something valuable that an entity owns, benefits from, or has use of, in generating income." To go along with this definition, asset tracking is defined as "the method of tracking physical assets, either by scanning barcode labels attached to the assets or by using tags using GPS or RFID which broadcast their location." Now let's take these two definitions and put them together.

The hardest thing for companies and organizations to do is to manage and locate their assets. If this is not done effectively, then employees will waste time searching for equipment, which can cause delays, missed deadlines, wasted labor, and unhappy customers. Asset management is more than just counting your devices and technology equipment and recording those numbers in some sort of spreadsheet. It is important to know the value of all these assets throughout their lifecycle, allowing money to be saved through managing their costs.

Tracking assets can help a company become more efficient and boost its bottom line by having one place where it can log, view and share information about its assets. Once a company recognizes its need for asset tracking, there are a few key points to know when considering how asset tracking works and choosing the system that is best for that company.

Know what you need to track:

Companies are able to increase the availability of assets and tools to their employees while reducing the overall cost and maintenance or replacement by having real-time access to their data using an asset management system.

Evaluate reporting functionality:

Find a scalable, customizable asset tracking tool that contains the reporting function that fits your company now and in the future.

Determine responsibility:

An owner will be assigned to establish, maintain, and protect important assets. Once an asset is received and entered into the system, accurate tracking can begin.

How mobile are you?

When using asset tracking systems, it is helpful to utilize smartphones and tablets that employees are already using and maintain data in the cloud. To keep up with today's ever-changing technology, make sure that your asset tracking tool is able to move with your and your employees on everyday operations.

Barcodes and scanning:

A basic function of asset tracking is assigning a barcode with a unique identification number. By assigning a barcode, you will be able to instantly track where those items are located. This is particularly helpful during audits, inventory, and updates on assets. Companies also find it helpful if the items are constantly changing owners and being moved around. The data can allow companies to make informed decisions about the number of assets at a particular location and how often the asset is being used.

When using asset tracking tools, you are able to have everything that you need to know about your fleet of IT assets at the click of a button. When looking for an asset management system, make sure that you find one that has all the features that you need. Check out AdminRemix's AssetRemix asset management system. You are able to manage up to fifty devices for free. For more tips on managing your fleet, check out some of the article links below.

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