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Why is asset tracking so important?

Benefits of asset tagging - 498948984984

For a variety of companies that use physical assets in their daily operations, asset tracking constitutes an essential part of effectively running their business. In order to understand how much your assets are costing you and how effectively they’re being managed, it’s necessary to have a thorough understanding of where they are and exactly what condition they’re in. 

While in the past, this may have meant sending out asset auditors into the field on a regular basis, there are now multiple technology-based solutions that provide accurate, real-time data, solutions that we explore in more detail below.

For further information you can find extensive content on asset tracking at the ANT Telecom website.

What is asset tracking?

Asset tracking is the process of recording and analysing the whereabouts and condition of your business’s physical assets. To be carried out effectively, this generally means collecting data in a centralised platform, which breaks down the different relevant data points such as condition, ownership, contract (in the case that it’s leased), and of course location. 

Automated software is becoming an increasingly popular solution to asset tracking, minimising the chance for human error while reducing the need for people out in the field manually logging relatively simple data.

Why is it important?

Implementing a smart asset tracking system is important for multiple reasons. First, it reduces administrative costs, both in terms of man-hours spent logging data and the potential for human error. 

Second, it facilitates a better approach to maintenance. Having an automated system makes it harder for maintenance schedules to be missed, and easier for workers to log issues as they occur. 

Third, it improves your ability to provide a high-quality service. Asset tracking reduces the likelihood that faulty equipment is sent to worksites, which could result in project delays, and inferior customer service as a result.

Real Time Location Software (RTLS)

One of the most effective ways of tackling your asset tracking requirements is by implementing a Real Time Location Software (RTLS) solution. RTLS applications help users clearly view their operations, collecting data in an easily accessible central hub. 

They help to improve efficiency, allowing businesses to streamline processes and optimise how they manage their assets. RTLS key features include the ability to track any tagged item, search for it using its name, location, or category, a desktop view that can be adapted to company-specific needs, and Bi-directional interaction with tags.

Tags

In order for assets to be tracked, they need to be equipped with a tag. These are often connected to Wi-Fi networks, a connection which facilitates the transmission of complex data. There are two main options:

A4n Tags

A4n tags are small enough for tagging, but have a battery life that can last multiple years. This is achieved through a motion sensor which means the tag only updates its location when it’s being moved.

B4e Badge Tags

B4n tags are credit card sized and rechargeable, ideal for tracking personnel or assets with a power source. It features a display for short text messages, call buttons, and a pull switch to activate an alarm in the case of an emergency.


Interesting Related Article: “4 Benefits of Asset Tagging for Small Businesses

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