Are you looking for an effective way to safeguard your company’s fixed assets and prevent them from being stolen or misused? It’s a challenge that many businesses face across all industries with their operating assets.
The good news is that solutions are available to help reduce asset theft and properly monitor company inventory with real-time tracking technology.
In this post, we’ll discuss why tangible and intangible asset protection is important for businesses of all sizes, how it can be achieved using monitoring devices and IoT sensors with asset data stored in the cloud, and what this type of solution looks like in action.
Read on to learn more about how modern asset tracking technologies can make a difference for your business assets.
The Consequences Of Asset Theft In Business
Asset theft can be a crippling blow to businesses, particularly when company assets get stolen.
Not only does company property go missing as it can be easily converted into cash, but depending on the types of assets in question, costly financial repercussions can also follow.
Lost company assets in the short term can lead to diminished income, negative reviews, and reputational damage. Maintaining utmost vigilance over company assets is essential for businesses, given the hefty costs that are associated with thefts that occur due to their negligence.
Furthermore, extra costs of recovery and replacement should be factored in, accompanied by any overhead accounts receivable or administrative expenses incurred by the company during this difficult period.
As such, businesses need to deploy effective measures for protecting company assets, including intellectual property, from theft and compensate for any losses suffered in the event of a breach in security.
Achieving Effective Company Asset Protection With Real Time Monitoring Solutions
Real time asset monitoring is one of the most effective means of safeguarding company assets against theft.
Through modern surveillance, these solutions integrate company asset tracking into an integrated system that allows for added security and real-time visibility of potential issues or suspicious activity.
With real time monitoring, businesses can be proactive in security measures; they can monitor and respond to any potential threats to company assets before they materialize, thereby reducing the chances of asset theft or damage.
Tracking company assets also makes asset reconciliation far easier by classifying assets using automated software, which reduces time and paperwork for businesses.
In short, real time asset tracking offers companies a powerful monitoring tool for not only reducing the chance of asset theft but also managing company resources more efficiently.
How Do Real Time Monitoring Solutions Work For Protecting Company Assets?
Real time monitoring solutions use a combination of resources to track company assets effectively.
This might include GPS, BLE, or RFID sensors and cloud-based analytics software, which can provide a company with the real time data necessary to track tangible assets remotely from anywhere in the world.
Not only does this give companies peace of mind knowing where their company’s resources are and if they are secure, but it eliminates manual processes for tracking, saving valuable time.
Additionally, this information is live, so changes to the company’s resource deployment can be assessed on-the-fly, giving them an extra edge in efficiently managing company assets with ease.
What Are The Benefits Of Real Time Monitoring For Company Assets?
Deploying a real time monitoring solution for company assets can bring several benefits to businesses.
Such a system allows for more accurate tracking of company assets to prevent losses, increases the rate at which stolen or missing assets can be located in physical existence, and provides data that helps inform decisions on asset usage and asset maintenance.
Utilizing all of these capabilities will help companies to become more secure and efficient. For instance, the asset data provided could be analyzed for opportunities to minimize downtime or streamline inventory management processes.
Furthermore, this type of monitoring helps maintain regulatory compliance by providing accurate data on company activities while eliminating unreliable records that would otherwise need to be manually tracked on a balance sheet.
With the implementation of such a system, company assets are likely to benefit from improved security, traceability, productivity, and accountability – resulting in higher value gains throughout the business.
Features Of An Effective Real Time Monitoring Solution For Protecting Company Assets
Protecting company assets against theft requires a real time monitoring solution that can provide the best security possible with features like geofencing, automated notifications and alerts, strong data encryption, custom reporting, scalability, and integration with existing systems.
- Geofencing ensures company assets remain in pre-defined areas by sending real-time alerts when they leave the boundary.
- Automated Notifications and Alerts keep you updated on any suspicious activity.
- Strong Data Encryption is also necessary – look for protocols that provide robust encryption with comprehensive capabilities to help keep company assets safe from potential malicious actors.
- Custom Reporting allows you to track security trends and anomalies over time and make better decisions based on the data.
- Scalability should be a key characteristic of such a system, allowing the company to easily adjust the resources needed as the size fluctuates or changes over time.
- Integration With Existing Systems is essential for company asset tracking that is accurate, efficient, and free from disruption.
By investing in a real time monitoring system with these features, you can ensure that your company’s long term assets are secured against theft.
Are Your Company’s Assets Protected Against Theft?
Businesses have a responsibility to safeguard their assets from theft. While there are many ways to protect company assets, real time monitoring is one of the most effective solutions available.
Real time monitoring provides businesses with the ability to track their assets in real-time, ensuring that if theft does occur, it can be quickly and easily detected.
The benefits of real time monitoring include increased security, reduced losses, and improved response times to asset theft.
If you’re interested in learning more about how real time monitoring can help protect your company’s assets, explore our asset tracking solution and request your demo below.
Last Updated on December 7, 2022 by Radiant