What is Physical Asset Tracking? Fixed Asset Tracking Explained

When it comes to business, there are a lot of moving pieces. From goods and services to inventory and employees, keeping track of everything can be a daunting task. That’s where asset tracking solutions come in – a systemized approach to monitoring and managing assets that your company relies on.

But what is asset tracking, exactly? And how can it help your business? In this blog post, we’ll explore what asset tracking is, how it works, and some of the benefits businesses can experience from implementing asset tracking software. Let’s get started!

Define ‘Asset Tracking’

There are a few different ways to define technology-based asset tracking, but it generally refers to the process of keeping track of physical assets. This can involve anything from simple inventory management to more complex systems that use sensors (for example, GPS tracking sensors) and IoT technology to track assets and their location in real time.

Fixed asset tracking is a type of asset tracking that focuses specifically on tracking physical assets that are fixed in place, such as equipment or machinery. Physical asset tracking software is another term for a computer program that helps with asset tracking (sometimes referred to as asset management software).

This type of fixed asset management software can be used for various purposes, such as inventory, supply chain, or fleet management.

So, How Does an Asset Tracking System Work?

An asset tracking system is a network of asset tracking devices, mobile apps, and fixed asset tracking software that are used to track the location and status of assets utilizing IoT technology. Several methods and asset tags can be used for IoT asset tracking, including Bluetooth Low Energy (BLE), GPS, and Radio Frequency Identification (RFID). 

• BLE tags can be attached to assets and tracked using a BLE-enabled device, such as a smartphone. 
• GPS tracking involves attaching a GPS device to an asset and monitoring its location in real-time. 
• RFID asset tags can also be attached to assets, and the asset’s location can be tracked using an RFID reader. 

Each method has advantages and disadvantages for collecting asset information, so choosing the right method for each application is important.

Asset Tracking Systems Give Real-Time Visibility

All the numerous asset management components are integrated into a single interface with asset tracking software. Asset management software can help you keep all your asset data in one place to generate custom reports about the asset’s location and status.

Rather than relying on physical copies of paper or manual spreadsheets, this type of software can often be used to extend an asset’s lifecycle by automating processes such as preventative maintenance, helping to keep assets in working order.

What are the Benefits of Asset Tracking?

Asset tracking can help businesses become more cost-effective and efficient by reducing the time spent searching for assets and improving inventory management. When physical assets are properly tracked, businesses know exactly where their assets are located and can easily retrieve them when needed.

In addition, asset tracking can help businesses to reduce losses due to theft or damage. By keeping track of their physical assets, businesses can quickly identify when an asset is missing or has been damaged.

Finally, asset management solutions can help businesses to make better decisions about their physical assets. When businesses have visibility into the location and condition of their physical assets, they can make more informed decisions about when to replace or repair an asset.

The True Value of Investing in Asset Tracking Software and Systems

Asset tracking can be a valuable addition to your business. It provides you with the information you need to make informed decisions about where your resources are being allocated and how best to optimize them. Not only that, but asset tracking also offers peace of mind by helping you keep track of your most important assets.

If you’re interested in learning more about asset management systems and how they could benefit your business, please request your demo below. Our team would be happy to show you how our solution can help streamline your operations and improve your bottom line.