What Can You Do With Asset Tracking?

What can you do with asset tracking?

1. Provide visibility and accurate checking of all fixed assets
2. Increase assets’ lifespan
3. Get rid of ghost assets
4. Generate real-time reports 
5. Promote paperless inspections

Assets are valuable resources that individuals or corporations own. It includes houses, land, and other investments. However, in businesses, assets can also refer to long-term equipment. There are also called fixed assets. Companies purchase these items knowing that they will be held and used for a longer time. That’s why it’s important to check on these throughout the year. Manually tracking assets can be exhausting. Many corporations turn to asset tracking providers in the Philippines like ELID to help them.

In this blog, we explain the different things you can do with asset tracking. Keep reading to learn more!

What Is Asset Tracking?

Companies across various industries have different kinds of fixed assets. These are items used for long periods in a company. When tracking these, employees check on the location, status, and maintenance schedule of all items.

Thanks to asset tracking solutions, businesses can optimize tracking through software. Here, data is stored on the cloud, providing them with a single platform for tracking all assets.

Unique identification is attached to items for asset tracking. These can be a chip, barcode, or an RFID tag. When scanned, it sends the location and status of an item to the asset management software.

Provide Visibility and Accurate Checking of All Fixed Assets

With asset tracking, you have full visibility of an item’s detailed records in one place. It includes a profile of a product containing its pictures, product guides, a maintenance schedule, and necessary contacts.

Through this, employees have a better picture of what items require more care than others. It also makes it easier to track items that are always mobile. In hotels, housekeeping can use this software to track the location of linens and pillowcases. This way, they can know where to find items faster compared to manually counting and locating the items.

This helps you to come up with informed decisions faster with the real-time data asset tracking provides you.

Increase Assets’ Lifespan

With these solutions, you’re guaranteed that you’re fully aware of whether your assets are functioning or not. Asset tracking solutions allow you to update the status of items by scanning or even walking through readers. The software is automatically updated if repairs and replacements need to be made. When this is done immediately, it can increase the lifespan of an asset.

With real-time data coming in, employees are notified immediately of these changes. You minimize encountering already-broken items with this innovative smart solution.

Get Rid Of Ghost Assets

Have you encountered the abrupt disappearance of some assets in your company? When this happens, it’s difficult to determine who is responsible due to a lack of physical audits. There’s a term for that — it’s called a ghost asset.

When you rely on asset-tracking solutions, you can recover these lost assets easily. Through RFID or barcode tracking, the system logs where it was last used. This gives you leads to where you can find an item. In the future, there won’t be any more ghost assets if an audit is regularly done on the software.

Generate Real-Time Reports

ELID’s asset tracking solution, AseTrak, makes it possible for employees to generate real-time reports on various items. Its RFID tags offer a wide range of tagging, tracking, monitoring, and altering options.

On the AseTrack View, employees are provided with a real-time comprehensive view of stocks. All data is collected, stored, and analyzed in real time from the RFID-enabled equipment. These can be categorized per zone in facility and customer sites.

Promote Paperless Inspections

Before digital solutions, companies needed to manually record where all assets can be found. There would be ledgers and file cabinets filled with papers detailing the status of each product. With the advent of digital solutions, companies can make more sustainable choices with the use of technology.

Asset tracking solutions make use of digital software for all tracking needs. So, companies can say goodbye to record books and sheets for tracking purposes. This encourages businesses to use paperless inspections for their inventory management.

ELID’s AseTrack uses various readers to keep track of assets like its Mobile Reader, Tunner Reader, Walkthrough Rader, and Handheld Reader. This makes it convenient to use in multiple locations without the use of paper records.

Key Takeaway

This blog highlighted what you can do with asset tracking in the Philippines. Through this digital solution, you can track the status of an entire inventory through its RFID or barcode tracking. A business can save on costs while increasing the productivity of employees.

ELID is the is a top systems management organization in the Philippines that provides our clients with the best asset tracking solutions.  We are here to help you improve how you track your assets with AseTrak. Allows us to simplify your inventory management with this innovative product. Contact us here at ELID today. We also offer access control systems and other smart security services.