How beneficial is Asset tracking management system?

Experiencing troubles tracking your assets? Unclear locations and usage patterns of movable assets resulting in scheduling conflicts, asset losses, and lesser returns? If yes, investing in an asset tracking management system can help.


An asset tracking system comprises two parts: hardware and software. The hardware part includes GPS trackers, QR codes, barcodes, or RFID (Radio Frequency Identification) tags. The hardware components placed on the assets communicate with the software, providing information about the asset’s location and usability. 


Asset management software offers several benefits to an organization, like more productivity, efficiency, and better cost control. 


If you want to maintain thousands of assets accurately, implementing an asset management suite can be your best course of action. With the right asset tracking system, you can track necessary information about every asset at any location in real-time. There are many more benefits of having an asset tracking management system. Here are some of them that will be enough to persuade you to implement a tracking system in your field service management industry.


The extended working life of assets


When an asset is purchased, you expect it to perform for years to come and generate revenue. To ensure the highest return on investment, you must understand the importance of keeping all assets in good working condition. With an asset management system, you can keep track of assets, and their usability schedule can be planned accordingly. 


The system will provide you information on whether the asset is functioning properly or not, and in case not, then timely repair work can be done to avoid severe damage. This way, you can ensure that the asset is working as expected.


With real-time information about the assets’ performance, you can make a clear decision to save expenses and extend the working life of an asset.


Less maintenance costs


When assets are not managed properly, there is a more likelihood that they will wear out soon, resulting in reduced operating life. At the operational stage of an asset, a field manager has to face several maintenance issues that can cut into the benefits of the organization. 


Asset management suite can help you get the most out of your assets. It provides all the information and data of all assets that help in scheduling maintenance jobs and creates alerts if an asset needs to be repaired. By identifying unproductive assets beforehand, you can better perform the job at hand and generate more revenue for business growth.


Therefore, asset tracking software enables you to keep track of your assets and identify which ones need maintenance to avoid unexpected maintenance costs and deliver the best field management services for business growth.


Streamlining daily audits and tasks


Auditing is a crucial task that needs to be performed for verifying what all assets your organization owns and at what places they are located. The audit also has an important role when it comes to paying taxes. With asset management software, the audit process can be performed in less time and effortlessly, along with the assurance that the asset evaluation is accurate.


The software allows you to schedule your audit timeframe and get updates on the process. Additionally, you can also get the power to streamline daily activities and operations without any issue. The management suite removes the unnecessary steps involved in the performance of daily operations to make them more efficient and quick.


It makes the field management process more efficient, making your image more professional & reliable. 


Increased productivity


By tagging your assets with RIFS tags, you can gain real-time information about their location as they move through the different stages of the process. That means you don’t have to incur expenses on manual scanning of assets and their movements. The asset management suite will keep your techs free from tedious tasks and allow them to focus on other crucial tasks of the business.


Check-In/ Check-Out


One of the best features of asset management software is Check-In/Check-out. The feature allows you to reduce the time involved in receiving and passing out assets. With the help of the Search Option Facility, you can find an asset by its name, vendor, employee name, tag, etc.


The feature is useful for the field service management industry that has to work with several assets to deliver timely maintenance services to clients. 


Asset Recovery and GPS Positioning


As a field service manager, have you ever been through a situation where a specific asset or equipment got isolated from its batch? If yes, then you must know how troublesome it becomes to find it down.


But the task could have been simplified with an asset tracking system. The system puts a barcode identification on every asset and provides them an online presence. Advanced tracking technology is used where GPS devices can track the live location of the asset. This way, lost or misplaced assets can be found easily without wasting any time. 


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  1. author
    27 Aug 2019
    Tomas Mandy

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    1. author
      27 Aug 2019
      Britney Millner

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  2. author
    27 Aug 2019
    Simon Downey

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