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Asset Tracking Software

Asset Tracking software gives managers the tools they need to track their inventory of internal resources and IT assets. Asset Tracking solutions let your company manage the usage, warranties, and performance of assets in a centralised system. These applications often include barcoding capabilities, can improve repair timelines, and reduce asset downtime. Related tools can also be found in EAM Software, Fixed Asset Management software, and IT Asset Management software.

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Local products for United Kingdom

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⚙️ Infraspeak provides unmatched control, compliance and productivity to FM and maintenance teams. Slash admin work, MTTR and costs. Learn more about Infraspeak
⚙ ️Infraspeak is an Intelligent Maintenance Management Platform that provides unmatched control, compliance and productivity to facility management and maintenance teams. ⚙ ️ Leverage AI to automate tasks and offer intelligent insights across all areas of the operation, including assets, work orders, PPM, compliance, suppliers, inventory, analytics, and more! ⚙️ Built for mobile use, intuitive, and integrates with your whole tech stack, seamlessly. ⚙️ Automate up to 60% of admin work, reduce MTTR by up to 83%, and cut unexpected costs by 3.2x. ⚙️ Infraspeak is trusted by industry leaders such as Siemens, Veolia, Sandvik, Mitsubishi Electrical, Engie and Primark, to manage over 1 million assets daily. Learn more about Infraspeak

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
ServiceDesk Plus empowers asset managers with automated scans that discover and track workstations, printers, routers, and access point Learn more about ManageEngine ServiceDesk Plus
ServiceDesk Plus empowers asset managers with a bird's-eye view of their asset landscape. It helps track every single IT and non-IT asset in an enterprise, complete with configuration specs and financials. IT teams can track ownership updates, loan assets, and define a visual workflow that guides technicians over the entire asset life cycle. ServiceDesk Plus offers the ability to periodically scan and track remote workstations located on- and off-premises using an agent or scan scripts. Learn more about ManageEngine ServiceDesk Plus

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
United Kingdom Local product
The all-in-one asset management app for SMEs. Automate your tasks and swiftly digitalise any assets workflows, on a budget. Learn more about Bulbthings
Bulbthings digitalises tasks and activities for any physical asset you rely on for your operations. The mobile app’s QR code scanner makes inventory and quick actions on your assets ridiculously easy. From small items in bulk to shared equipment or full vehicles fleet management, automate your workflows at competitive prices and setup times. Go mobile, get more collaborative and explore dynamic analytics to optimise your assets usage and costs. Learn more about Bulbthings

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Fiix's cloud-based asset tracking CMMS software helps plan, track, and optimize maintenance to boost efficiency and asset health. Learn more about Fiix
Fiix's asset tracking CMMS software is the easiest way to plan, measure, and optimize asset performance. Fiix partners with you to organize assets and inventory, manage work, connect to business systems, and make data-driven decisions. Use customizable dashboards to see all your work, parts, costs, schedules, and KPIs in one place with just a few clicks. Our technician-focused desktop and mobile apps help you create, schedule, prioritize, and be notified of tasks from anywhere—even when offline. Learn more about Fiix

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
MaintainX is the leading maintenance and work execution software, designed specifically for industrial and frontline teams. Learn more about MaintainX
MaintainX is the leading maintenance and work execution software, designed specifically for industrial and frontline teams. We help companies streamline maintenance operations, improve asset management, and empower workers—all while delivering insights that can improve the bottom line. We’re proud to serve some of the world’s largest brands, including Duracell, AB InBev, Univar, Cintas, McDonalds, Titan America, and many more. Learn more about MaintainX

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Maintenance Connection is a multi-site, multi-industry CMMS/EAM that helps businesses avoid asset failure and reduce downtime. Learn more about Maintenance Connection
Accruent's Maintenance Connection is a market-leader CMMS / EAM that helps maintenance teams transition from reactive to preventive asset maintenance, avoid asset failure, reduce downtime, and streamline multi-site operations. Maintenance Connection is built to be scalable for any organization, offering extensive flexibility and configurability that ensure deep functionality across major industries. Learn more about Maintenance Connection

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Jira Service Management is an ITSM software that unlocks high-velocity teams to deliver great service experiences fast and together. Learn more about JIRA Service Management
Jira Service Management is an ITSM solution that unlocks high-velocity IT, dev, operations, and business teams. Empowered teams can deliver great service experiences, without the complexity of traditional ITSM, and coordinate efforts for even more impact through Jira’s open collaborative platform. Streamlined workflows, automation rules, queues, SLAs, and a self-service portal all empower IT, dev, operations, and business teams to deliver exceptional service management at scale with no silos. Learn more about JIRA Service Management

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
SafetyCulture (iAuditor) is a mobile-first application that digitizes processes and streamlines your operations to get better everyday. Learn more about SafetyCulture
SafetyCulture is an app that frontline teams actually want to use. It’s a digital solution for tasks like conducting inspections and important checks, raising and resolving issues, managing and tracking physical assets, learning important skills and accessing procedures on the go. It also helps teams do more than just tick the boxes for governance, risk, and compliance – it can help set environment, health and safety standards, and raise the bar when it comes to operational excellence. Learn more about SafetyCulture

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
A customizable and full featured asset tracking platform. Easy to setup and use. Cloud based and mobile. World-class support. Learn more about Reftab
Specialized for IT departments, Reftab was voted by Forbes as the best customizable asset management platform in 2023. With a focus on simplicity and automation, anyone, no matter their requirements or technical ability can utilize Reftab to provide a robust asset management platform for their organization. We offer integrations with Intune, Jamf, Okta, Azure, CDW, Dell, Zendesk, Jira, and the list goes on.. We also offer an installable agent. We even integrate with no-code / low-code platforms so that you can use your IT Skills to build a more customized powerful solution for unique needs. Setup a FREE account today! Learn more about Reftab

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Tool tracking & tool inventory solution for contractors and mobile workers. Search, find and transfer tools in the field & shop. Learn more about Construction Tool Tracking System
Construction asset tracking doesn't have to be hard or complicated. We make tool and equipment tracking simple by focusing on field personnel. ShareMyToolbox makes it easy for the field workers to search, find and transfer tools using a phone. With the field updating tool movements as they happen, an up to date inventory is always available to the office. Our entire system is mobile and cloud based which makes it quick and easy to setup. Start a free trial and see how easy tool tracking can be! Learn more about Construction Tool Tracking System

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
On-premise and web based software designed to manage quality driven assets for diverse customers of any size. Learn more about IndySoft
Improve productivity with equipment templates; automatic calculation of uncertainty and pass/fail data point readings; automated emails, alarms & reports; barcoding; certificates, stickers & packing slips. Built-in tools to help ensure compliance with all widely accepted standards. Fully customizable, IndySoft can be tailored to support your business flow and data requirements rather than conforming your business to the software. Six languages to support global deployment. Cloud or on-premise. Learn more about IndySoft

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Asset Manager is a web-based fixed assets register for tracking your company's assets. Check in/out, manage service, and more. Learn more about Kaizen Asset Manager Web Edition
Asset Manager Web Edition is a web-based Asset Management Software for tracking your company's Fixed Assets. Access it from your computer or tablet wherever you are - in the office, shop, warehouse, or on-the-go. Check in or out assets from or to your team; manage service schedules and completed service, track purchases, asset history, and more. Learn more about Kaizen Asset Manager Web Edition

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Fleet management platform that enables businesses to manage and maintain fleet, vendors database, e-vehicle checks, and more. Learn more about Transpoco
Manage your entire fleet with one easy-to-use platform. GPS vehicle tracking, AI dashcams, fuel management compliance, maintenance, and more. Improve safety, reduce insurance premiums, optimise routes and identify dangerous driving. Transpoco, your eyes on the road. Learn more about Transpoco

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
UpKeep is rated the #1 mobile-first Asset Tracking Software to streamline work orders, facility, and asset management. Learn more about UpKeep
UpKeep's asset tracking software is a modern maintenance and asset management solution for your team. From your desktop to your phone and even your tablet, UpKeep is easily accessible from anywhere at any time. Create work orders on-the-go, get notifications when tasks are updated, and receive alerts straight from your app when assets go down making your business run more efficiently than ever before. Learn more about UpKeep

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
tracefii is an asset management platform that enables users to manage and track all assets. Learn more about tracefii
tracefii is an asset management platform that enables users to manage and track all assets. Learn more about tracefii

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Metquay is world #1 - ISO 17025 Compliant Calibration Management System, write to us at [email protected] for a Live Demo Learn more about Metquay
Be one step ahead in Calibration Management with world's #1 Calibration, Testing, and Asset Management System. Metquay comes with an inbuilt procedure and worksheet engine which allows the users to create and manage Calibration Procedures and Worksheets themselves. Metquay saves your effort in Job creation, assignment, and delivery. Automated Certificate generation, version numbering, and tracking minimize quality risks and errors. Metquay keeps you audit-ready at all times. Learn more about Metquay

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Gartner identified Nlyte as providing cornerstone technology for the evolving Hybrid Digital Infrastructure Management (HDIM) space. Learn more about Nlyte DCIM
Nlyte automates tracking of an assets lifecycle. Receiving scans assets as they enter the receiving dock to ensure they are quickly deployed. Automated network discovery tracks the additions, status changes, and moves of networked assets, software, and IoT devices. The network is monitored and changes made to asset the asset database, and integrated CMDB, ITSM, and finance systems for a single source of truth. User-based reporting can provide exception reporting for ITops and Security teams. Learn more about Nlyte DCIM

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Canfigure is a modular asset management solution that offers ITIL Service Desk, CMDB, Change Management and more. SaaS or on-premise. Learn more about Canfigure
Canfigure is your ultimate solution for IT Asset Management Software, revolutionizing the way organizations monitor, analyze, and optimize their digital assets. In an increasingly technology-dependent world, Canfigure offers a robust and intuitive platform that simplifies the management of IT assets. With Canfigure, you gain full control over your IT inventory, enhancing efficiency, security, and cost-effectiveness. Any business workflow can be supported using Canfigure's powerful admin tools. Learn more about Canfigure

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Facilio’s CMMS software helps property owners/operators manage, control, and optimize their end-to-end portfolio O&M in one place. Learn more about Facilio
Facilio’s Connected CMMS empowers property owners/operators to streamline their end-to-end portfolio operations, ensuring complete control & visibility. Unlike traditional CMMS software, Facilio's CMMS system consolidates all the aspects of facility operations, like stakeholder engagement, asset maintenance, vendor management, workflow automation & more, in one platform. Facilio is also built with low-code configuration & IoT-based interoperability, making it easy to configure & implement. Learn more about Facilio

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Asset Tracking Software w/ inventory tracking, POs, maintenance, QR Code/Barcode scanning, & RFID integration. Try It For Free!
EZOfficeInventory is a cost effective cloud based solution with an intuitive interface for asset management needs. With support for remote team collaboration around asset reservations, maintenance, checkouts, and audits, with Barcode and QR Code scans via our mobile app, you'll be up and running in no time. Also, it comes with the all-new mobile app experience, now available for Android and iOS users. Perfect for remote teams with asset tracking or coordination needs. Learn more about EZOfficeInventory

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Learn why Forbes rated Asset Panda the #1 Asset Tracking Software of 2024. Try Asset Panda with a free 14-day trial (no card required)!
Asset Panda's asset tracking software helps you streamline the process of asset management. Our cloud-based asset tracking software is a flexible, user-friendly, and customizable system & supports many integrations. The software pairs with mobile iOS & Android apps with free barcode scanning. On top of asset tracking/management, we help with inventory tracking, fixed asset audits, maintenance tracking, depreciation, equipment tracking, & more. Get your free 14-day trial today (no card required)! Learn more about Asset Panda

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Fracttal One is a maintenance management software that helps companies to manage and optimize their maintenance operations.
Fracttal One is a maintenance management software that helps companies to manage and optimize their maintenance operations. It provides tools for asset management, scheduling and performing preventive maintenance, managing work orders, monitoring spare parts inventories, tracking costs and performance, and generating analytical reports. Fracttal One utilizes technologies such as artificial intelligence and the Internet of Things (IoT) to enhance efficiency and decision-making in maintenance operations. Learn more about Fracttal

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Verizon Connect's fleet management software for small to medium-sized businesses with fleet sizes of 5 or more vehicles.
Verizon Connect provides business customers with the insights and intelligence needed to optimize their operations and drive growth. Through a cloud-based, end-to-end solution, Verizon Connect accurately measures a user's fleet's performance, uncovers hidden costs and opportunities for improved efficiency, while empowering them to better manage service with real-time alerts and reports. Learn more about Verizon Connect

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Make the most of your business and easily track assets with Fishbowl’s inventory and manufacturing management solutions.
With instant access to real-time data, Fishbowl’s inventory management software helps manufacturers, machine shops and job shops manage complex manufacturing environments and track assets. An easy-to-use interface with powerful functionality makes it easy to set up, track and manage your inventory. Learn more about Fishbowl

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter
Asset tracking software for small and medium-sized rental businesses.
Booqable is the all-in-one asset tracking software for small and medium-sized rental businesses. With Booqable, all your assets are organized in one place that keeps track of stock levels and availability. Thanks to real-time inventory tracking and reporting, you’ll never have shortages or double bookings again. Other key features include multi-location, barcodes, equipment check-in/out, a mobile app, and more. Learn more about Booqable

Features

  • Audit Trail
  • Inventory Management
  • Check-in/Check-out
  • Activity Tracking
  • Depreciation Management
  • Maintenance Management
  • Mobile Access
  • Work Order Management
  • Asset Lifecycle Management
  • Equipment Tracking
  • Search/Filter

Asset Tracking Software Buyers Guide

Asset tracking software allows managers to keep track of their organisation’s inventory of internal resources and IT assets. This includes tracking relevant information, such as warranties, usage, and depreciation. Asset tracking solutions will typically feature ways to streamline the tracking process, such as barcodes or QR codes. These features can reduce asset downtime and improve repair times.

Some of the core features an organisation should expect from an asset tracking solution include the ability to map asset lifecycles, track the effectiveness of equipment, and generally keep tabs on all things related to the organisation's assets. For sufficiently large businesses, asset tracking is just as important as inventory management, which is why dedicated software solutions for this problem exist. It is also common for this type of software to allow for custom roles and employee profiles.

The main benefit of effective asset tracking software is cost. By managing its assets, an organisation can cut down on a range of expenses that it might otherwise have incurred. One example of a cost-saving is avoiding situations where a job is delayed because it requires equipment that is not available at the required time. Proper asset tracking can also help manage a business's finances as it makes it easier to keep track of the value of assets, which makes it possible to plan for End Of Life (EOL) more effectively.

Asset tracking solutions have a key area of focus in that they centre around the assets themselves, but there are other categories of software that are closely related. One example of a related software category is fixed asset management software, while another is IT asset management software.

When looking for asset tracking software, a business needs to consider several factors to make the right choice for its needs. Naturally, the majority of these decisions revolve around the features that the solution offers. These features can broadly be separated into core and common features, with core features being essential. Generally speaking, for a solution to be included in the asset tracking category, it will need to include at least the following features:

  • Breakdown and maintenance tracking, allowing the organisation to make crucial decisions on things like downtime and replacement of assets
  • Asset lifecycle mapping puts the data collected from breakdowns and maintenance history to use where it can inform decisions and help anticipate things like significant maintenance costs
  • Effectiveness tracking can help to measure the effectiveness of an asset—such as a piece of equipment—which provides essential data when a company is considering replacing or upgrading
  • Employee roles and profiles make it simple to assign tasks—such as asset maintenance—to the right people
  • Barcode and QR code generation and scanning make the process of tracking assets more accurate and partially automated, reducing the work involved in asset tracking

What is Asset Tracking Software?

Asset tracking software helps organisations track a range of metrics related to the assets they own, including the performance of those assets and expected End of Life (EOL). Using asset tracking software can help organisations reduce the costs associated with owning assets by removing the inefficiencies of traditional asset tracking systems. For example, they are reducing the chances of an asset facing unexpected downtime due to a lack of maintenance or ensuring that the asset does not reach the end of life at a time when the organisation is not expecting it.

In almost any business, adequate asset tracking is just as important as inventory management. Assets—which include things like inventory—cover just about everything from tools to heavy machinery and any other kind of equipment used in the course business. The importance of these assets may vary, but the importance of properly managing those assets does not. Assets that are not where they are supposed to be, are double-booked, or have just broken down and cannot currently be used all result in delays and expenses for a business. Asset tracking software helps to reduce these situations.

Modern asset tracking solutions incorporate various technologies to make asset tracking more efficient and accurate. One example is barcode or QR code scanning, where a code is generated for a particular asset. Once in the system, that asset's code is scanned whenever it moves around or starts being used on a new project, ensuring that the system always knows where it is. Data analysis is also a big part of modern asset tracking. Using increasingly accurate algorithms and AI, asset tracking can provide insight into the usage of a company's assets, as well as make more accurate predictions about things like maintenance.

What are the benefits of asset tracking software?

The benefits of asset tracking are wide-ranging, but all come together to a single point of focus—the more efficient use of a company's assets. This is achieved through several functions, but the net result is reduced costs associated with the ownership, usage, and maintenance of assets of all kinds. Some of the more specific benefits associated with asset tracking systems include:

  • Make asset management more efficient: The central benefit of asset tracking solutions is the increased efficiency they bring. Assets can be more accurately tracked in every aspect, whether it be the current status of the asset in terms of maintenance requirements or the physical location of the asset at a particular point in time.
  • Reduced costs: Avoid things like booking assets for work when they are unavailable, ensuring downtime is scheduled for times when it is convenient, and accurately predicting an asset's end of life, all save money for a business. These savings add up, and larger companies with a lot of assets—particularly expensive assets like vehicles or heavy machinery—will find the savings they can make by moving to a good asset tracking solution to be quite substantial. Other ways in which asset tracking solutions can save money include reducing the human labour element involved in asset tracking and improving customer service.
  • Accountability: Modern asset tracking solutions automate the task of signing assets in and out, making it a simple matter to ensure accountability for problems with an asset. Employees will have to scan the QR code assigned to that asset when signing it out and then scan it again when returning it. This ensures that an organisation can always determine who was last responsible for the asset.
  • Regulatory and financial compliance: Detailed asset tracking records are important in some industries for regulatory and financial—such as tax—reasons. Asset tracking solutions make it easier to comply with regulations like these by providing detailed automated reports that can be used when filing any necessary paperwork, as well as plugged directly into other relevant software systems.
  • Real-time information: Managers and other senior members of the organisation will be able to easily get an overview in real-time of the current whereabouts of certain assets, as well as generate reports from that information.
  • Easily adjust company records with asset changes: While it is common for an asset to be purchased by an organisation and used until it reaches its end of life, that is not always the case. Sometimes assets are sold or just get moved around the organisation in such a way that it has implications on things like tax calculations. Asset tracking solutions make it simple to factor in these changes.
  • Detailed reports and insight: Asset tracking software is privy to a wider range of data points than traditional asset tracking systems—that is, logbooks or spreadsheets—were. This wealth of data makes it possible for asset tracking software to provide detailed reports that wouldn't have been possible without it. Additionally, due to the constantly evolving analytical capabilities of things like AI, it is increasingly common for asset tracking solutions to offer advanced insights based on the information it collects.

What are the features of asset tracking software?

The features of asset tracking can be broken down into core and common features. Core features should be present in almost every asset tracking solution on the market, whereas the precise combination of common features in any given solution will differ. Here are some of the most common features of asset tracking software:

  • Maintenance and other downtime tracking: Having a detailed and up-to-date understanding of how assets are performing is a critical aspect of making the most efficient use of those assets. Asset tracking solutions will usually provide the ability to track breakdowns and other causes of downtime, such as maintenance. This makes it easier to see when a particular asset might need replacement due to constantly breaking down or if that asset could benefit from an upgrade or replacement.
  • Asset lifecycle mapping: Planning the lifecycle of an asset is never as straightforward as it should be, but asset tracking solutions work to make this aspect of asset management more simple. By tracking things like breakdowns, maintenance costs, and a range of other data points, asset tracking software can help an organisation more effectively map the lifecycle of its assets, and in turn, plan for the future.
  • Equipment effectiveness tracking: It's not always the case that an asset is used until it reaches its end of life. Whether through accidental damage, poor maintenance decisions, changes in business, or even the asset itself being less effective than it was expected to be, sometimes it is more cost-effective to retire an asset early. Asset tracking solutions make it easier to see a clear picture of how an asset has performed against predefined performance indexes. This helps organisations make informed decisions about things like whether to replace a particular asset or not.
  • Cloud-native applications: As with many business applications these days, many asset tracking software developers have embraced the cloud with their products. This means that businesses can benefit from things like remote asset tracking, centralised data storage, and the ability of employees to scan in (or out) assets using intelligent devices such as their mobile phones.
  • QR code generation and scanning: QR codes (and, in some cases, barcodes) make it easier to sign assets in and out because they contain all the information the system needs to identify an asset. Together with information about the employee scanning the asset and the date and time, the system can automatically log a highly detailed record of the asset's whereabouts, all from a single scan that takes a few seconds. The system will also be able to generate these QR codes.
  • Custom roles and profiles for employees: The ability to assign employees with specific roles and profiles makes it easy for an organisation to automate the process of assigning things like the maintenance of a particular asset. It also makes it possible to automatically approve or deny the signing out of a particular asset based on whether the employee attempting to do so has sufficient authority or permission to do so.
  • Interactive dashboards for reporting and planning: Asset tracking solutions will typically provide their users with a friendly user interface where they can see a host of reporting options, overviews of assets and their whereabouts, and carry out a range of tasks like updating asset information or generating new QR codes. These dashboards are often cloud-native, meaning they can be accessed by any authorised employee from anywhere with an appropriate device.
  • Preventative maintenance planning: The wealth of data collected by asset tracking solutions and the predictive power of that data makes it possible to arrange preventative maintenance on assets rather than wait for the asset to break down. Scheduling necessary maintenance at an ideal time can amount to substantial cost savings in the long run.

What should be considered when purchasing asset tracking software?

When purchasing asset tracking software, it is essential to consider several factors, namely the cost and the features on offer. It is also important to remember that not all asset tracking solutions are created equally, and it is worth looking into the reputation of the developer and any reviews of the software that are available. This is particularly the case for cloud-native solutions. Some of the more specific considerations that an organisation should think through before settling on an asset tracking solution include:

  • What are the key features of the software? The key features of the software are, of course, what will make or break it as a potential solution for any given business. A particularly affordable solution will ultimately be worthless if it doesn't have the features the organisation needs. While it is often worth opting for a solution that doesn't have features that are unnecessary for the organisation in question, it's also important to think ahead a little. A feature that isn't needed now might be worth having for the very near future.
  • Is the developer reliable? Whether opting for a standard software package to be installed locally or a cloud-native application that is run under a Software-as-a-Service (SaaS) model, it is worth checking that the developer has a good record when it comes to things like customer service, technical support, and maintenance of their software. Asset tracking is an important aspect of any business, making it important to not have to worry about facing technical issues that the developer is not able to help with.
  • Is the software secure? One of the advantages of asset tracking solutions is they can cut down on money lost through asset loss. This is only the case if the software and the procedures it employs are secure, however. Security in this regard can come in several ways, such as the way data is stored. This is particularly important when dealing with a Software as a Service provider, as the data will not be in the organisation's control.
  • Is the software suitable for the size of the business? The needs of a small business differ substantially from the needs of a large organisation when it comes to asset tracking, so it is important to make sure the potential software solution is suitable for the size of the business it will be used in. Check for things like limitations on how many assets can be tracked under the current plan and whether the software can register multiple locations for larger organisations.
  • Is the software compatible with other related software? Asset tracking software can make life easier in various other parts of the business, such as accounting, but the chosen software will need to be able to work with the relevant software already in use to take advantage of that.
  • Is the developer actively supporting and improving the software? As discussed below, asset tracking is an active field of development with many trends likely to influence this field of software going forward. Finding a developer that is actively working on their software solution to add improvements and keep it up to date with the current trends in asset tracking will make taking advantage of those trends a much smoother process.

The most relevant asset tracking software trends are related to gathering more data about those assets and what to do with that data once it has been gathered. Here are the most relevant trends to do with asset tracking software in more detail:

  • Predictive maintenance: The power of AI as an analytical tool has continued to revolutionise many areas of business over recent years, and asset tracking is unlikely to be an exception to this trend. Asset tracking solutions are likely to continue to incorporate increasingly accurate predictive maintenance functionality in their software, saving businesses money by more accurately predicting when it would be wise to schedule preventative maintenance for a particular asset.
  • Fleet telematics: In the case of fleet assets, such as vehicles and haulage, the use of GPS tracking has become a viable option for keeping track of them. It is likely that this will not only be offered in more and more asset tracking solutions but that it will also become the norm for fleet assets.
  • Increased IoT tracking: On a similar theme to the previous trend, barcodes, QR codes, and even RFID chips have become well-established ways of tracking the whereabouts of an asset, but with the increasingly accurate array of options for tracking a variety of things—as well as the falling costs of those options—it is likely that more sensors will find their way into asset tracking. This might include things like temperature, humidity, shock, or pressure sensors. These additional data points will give the system and the organisation a much more accurate picture of things like lifecycle and maintenance schedule. An asset that has broken down from proper use needs to be distinguished from an asset that has broken down because it was involved in an accident or not used in the manner it was designed to be.
  • Continued cloud migration: Asset tracking solutions are already commonly offered as cloud-native, Software-as-a-Service (SaaS) applications. Due to advantages offered by reduced costs, remote access, and centralised data, this trend is likely to continue to the point that traditional software packages will be very rare if they remain an option at all.

Sources

The features highlighted were identified based on their relevance and the percentage of products in Capterra’s directory that offer them. The following sources were used for this document:

  1. Capterra (Date accessed: Monday, June 13th, 2022)
  2. Forbes - What is Asset Tracking? (Date accessed: Monday, June 13th, 2022)
  3. Wikipedia - Asset Tracking (Date accessed: Monday, June 13th, 2022)