Asset Tracking Software
Keeping track of your company’s assets can be tricky – particularly if you have a lot of assets that change owners frequently.
What is asset tracking – and should I do it?
Asset tracking refers to the process of monitoring and managing physical assets throughout their lifecycle. It involves using technologies such as barcode labels, RFID (Radio Frequency Identification), GPS (Global Positioning System), or other tracking systems to keep track of assets, their location, and their status. These assets can include vehicles, equipment, machinery, tools, and inventory.
Asset tracking helps companies gain better control over their assets, reduces losses, improves operational efficiency, and enhances customer satisfaction. It provides valuable insights for decision-making (which assets do we need to replace?), cost savings (Which assets aren't being used?), and equipment maintenance. (Which assets are broken and need repair?).
The benefits of asset tracking
Companies engage in asset tracking for several reasons:
Improved inventory management: Asset tracking helps companies accurately monitor and manage their inventory. It lets them know their assets' exact quantity, location, and condition in real time. This information facilitates efficient inventory planning, reduces the risk of stockouts or excess inventory, and enables timely replenishment.
Preventing loss and theft: Asset tracking provides visibility into the movement of assets, making it easier to detect and prevent loss or theft. By implementing tracking technologies, companies can monitor assets' whereabouts, set up alerts for unauthorized movements, and implement security measures to protect valuable assets.
Maintenance and repairs: Tracking assets allows companies to keep a record of maintenance schedules, service history, and repair requirements. It enables proactive maintenance planning, reducing downtime and optimizing asset performance. By monitoring usage patterns, companies can identify when assets require servicing or replacement, avoiding costly breakdowns and improving overall operational efficiency.
Cost savings and efficiency: Effective asset tracking helps companies optimize asset utilization and reduce unnecessary purchases. By understanding asset usage patterns, they can identify underutilized or idle assets and make informed decisions about whether to sell, lease, or reallocate them. This leads to cost savings, improved operational efficiency, and better return on investment.
Regulatory compliance and audits: Certain industries have regulatory requirements for asset management, such as maintaining records, safety inspections, or meeting specific standards. Asset tracking provides the necessary documentation and audit trails to comply with regulations and streamline the auditing process.
Asset tracking with Cheqroom: Our top features
Scan assets tags on the go
Identify assets in seconds by scanning their barcode with your phone. Eliminate pen & paper and make your asset tracking system error-proof.
Keep track of asset locations
With the asset tracking app, all your equipment information, including location and owner, is at your fingertips.
Control your inventory
Knowing what you need to repair, replace or buy optimizes your inventory.
Keep track of your assets
Track who’s using what, where it is and when it’s due back. Check your inventory at any time from your app. No more chasing gear: you have all the information you need in the palm of your hand.
Claim back your time
Speed up operations by automating asset bookings, check-outs and returns. And the best part is, notifications are sent automatically to remind people to bring back their gear in time. It’s not magic, but almost.
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Scan assets QR and barcodes
No need for expensive hardware: identify assets in seconds using your phone with Cheqroom’s built-in scanner. Users can easily book & check out their own assets.
Good agreements make good friends
Increase accountability with an equipment loan agreement at check out. The signed documents are stored digitally and prevent late returns and equipment losses.
Simplify the asset checkout process
Asset tracking software that simplifies scheduling and supercharges your gear room.
Keep your ass(ets) on track
Never lose track of your assets again. Book a demo or start a free trial.