A company’s assets are essential for its productivity and success. Therefore, maintaining and tracking them is the best way to ensure smooth workflows and longer equipment lifespans. With your company’s best asset tracking software, you can improve your asset utilisation, save maintenance costs, and track your physical assets in the field. By using fixed asset tracking software, you can save time and money, streamline equipment tracking, enhance compliance, and improve overall asset visibility within your organization. Instead of relying on outdated Excel spreadsheets, you can automate and streamline your asset-related workflows for a more efficient process.
Key Facts
- ToolSense’s Value Proposition: ToolSense offers a comprehensive Asset Operations Platform, seamlessly combining asset tracking, maintenance management, and IoT capabilities. By enabling preventive maintenance and real-time asset tracking, the platform can help businesses reduce downtime and optimize their asset usage.
- Streamlining Processes and Cutting Costs: ToolSense simplifies traditionally manual and fragmented processes, such as safety inspections and maintenance scheduling, through automation and digitalization. This approach significantly reduces maintenance costs, enhances asset longevity, and streamlines workflows for sectors like facility management and construction.
- Customizable and User-Friendly Interface: The asset management program supports integration with various systems and offers flexibility in managing workflows, asset monitoring, and maintenance. With features like QR code-based reporting, intelligent notifications, and IoT integration, ToolSense addresses industry pain points while ensuring ease of use for teams across multiple sectors.
- Tracking Multiple Assets: Managing numerous assets across various locations can be overwhelming. This is where our cloud based asset management software comes in.
What is Asset Tracking?
Asset tracking refers to the process of monitoring and managing the location, condition, and usage of physical assets, such as equipment, tools, vehicles, and inventory. By leveraging technologies like QR codes, barcodes, RFID tags, and GPS tracking, organizations can identify and track assets in real-time. This real-time visibility is crucial for optimizing asset utilization, reducing costs, and improving overall productivity. Asset tracking is a fundamental component of asset management, ensuring that every piece of equipment is accounted for and operating efficiently.
6 Ways Asset Tracking Software Can Improve Your Business
Tracking assets manually – or not at all – has a negative impact on your business. You risk asset loss, a shorter asset lifetime, amorphous workflows, and higher maintenance costs. By implementing asset tracker software, you can benefit from its many key features and advantages and say goodbye to old-fashioned Excel spreadsheets.
Increase Productivity Across All Assets
- Manage all assets on a single platform
- Better insights into actual asset usage
- Less manual and repetitive tasks
Reduce Downtime and Keep Assets Running
- Easy to report issues with QR codes
- Powerful maintenance workflows
- Integrate suppliers & service partners
Save Time and Money and Increase Profitability
- Less time needed for asset-related tasks
- Higher utilization of existing resources
- Less assets and workforce needed
Save Time While Reducing Costs
Asset management tracking software can help you locate your assets at all times – whether they are being used somewhere in your company building, on a construction site, or are being transported to a new job site. Knowing where your equipment is at all times helps you utilise your assets to the best ability and can save a lot of time that is otherwise spent chasing down your tools over various locations. Eventually, the asset lifecycle management solution also helps you save maintenance costs by implementing a suitable preventive maintenance schedule.
Get Your Assets Under Control in One Single Platform
Do you know how many assets your company owns? With ToolSense, you gain an easy overview of all your equipment. Upgrading your inventory system with scanning technology can significantly enhance asset management by improving efficiency, ease of use, and the quality of reports generated. Once all your assets have been imported into the asset tracking software solutions – which can be done with a simple Excel import – you have a full list of all your assets readily available in just a few clicks. This allows for fixed and remote asset management, tool tracking, and measuring of asset performance.
IoT Hardware: Never Lose Track of an Asset Again
Combining ToolSense with modern IoT tools, such as GPS equipment trackers, RFID tags, Bluetooth trackers or simple QR codes, gives you even more control over your existing equipment. By attaching asset tags or GPS asset trackers to your vehicles and tools, you never lose track of them again. The GPS and RFID asset tracking software will tell you where your asset is at all times. Additionally, IoT asset tracking software and hardware like QR codes can be used to monitor asset performance, runtimes, or downtime, giving you a full rundown of your equipment.
Get Your Entire Team on the Same Page
Asset track software acts as a single source of truth for all your equipment, tools, and vehicles that all employees can easily access – either from a desktop computer or their mobile devices. Access to comprehensive asset history allows team members to track and manage assets effectively. That means office workers, technicians, drivers, construction workers, and facility managers all work with the same up-to-date information, and can make informed decisions about each asset.
Provide Custom Notifications
Software for asset tracking allows users to customise their notifications for a more efficient workflow. Whether you want to stay informed of incoming work orders, machine downtime, or current usage – with ToolSense, each employee can set custom notifications that suit their individual needs either within the software, as e-mail notifications, or phone pop-up notifications.
Mobile Access
Because ToolSense is a cloud-based asset tracking software, your employees can access the platform with their desktop computer, a smartphone, or a tablet, enabling them to work with the software from their desk, remotely, or directly on-site. That means the asset tracking system, maintenance records, and additional important information is readily available regardless of location and can be accessed from a desk as well as from a construction site.
Key Asset Tracking Features: A Smarter Approach to Asset Maintenance and Management
Manage Maintenance and Work Orders
Asset management and tracking software, such as ToolSense, doesn’t just track your equipment’s locations – it also supports asset lifecycle management, maintenance management, and work order management. Proper control and accounting of fixed assets are crucial for compliance with state and federal laws, and effective management can lead to significant operational efficiencies. You can keep an eye on the current state of all your assets and increase your asset value through regular preventive maintenance tasks, which can be planned and overseen within the software. You also gain access to your equipment’s complete inspection and maintenance history in each asset’s lifecycle folder, where additional information, such as invoices, photos, and important documents, is stored.
Automate Check-Ins and Check-Outs
Equipment check-in check-out software is incredibly useful for asset monitoring, tracking downtime, logging use, and much more. Effective tool management can enhance efficiency and standardize access procedures. With ToolSense, the process of checking equipment in and out is simplified through clever IoT technology, such as RFID tags or QR codes. Employees can scan the unique code that is attached to a machine to indicate usage, request spare parts, or report a flaw in just a few clicks. Every step is saved in the asset management and tracking software and can be retraced in the asset’s history. This creates streamlined and transparent workflows.
Trigger Notifications for Critical Intelligence
If you want to stay up-to-date on the important events surrounding your critical assets, you can set up custom notifications to alert you. This could include incoming work orders or their updates, machine downtime, a new spare part order, and more. These notifications can either be displayed within the asset tracker software or forwarded to you via e-mail. While using the ToolSense app, you can set up pop-up notifications on your phone to alert you of important events.
Geolocation Tracking with GPS
Larger, more expensive assets that are on the move are most easily tracked using GPS asset tracking software. IT asset tracking is crucial for managing the full life-cycle of IT assets and enabling informed strategic decisions. Especially transport or construction companies profit from an enterprise asset management solution that allows them to keep track of their fleet and equipment. Knowing where your assets are at all times allows for optimal utilisation and deployment, saving both time and money in the long run. A type of GPS tracking called geofencing can also be used to prevent asset loss due to theft and alert to unauthorised use.
QR Code, Barcode and RFID Trackin
You don’t have to decide between implementing a QR code asset tracking software or RFID asset tracking software because ToolSense supports all prevalent IoT solutions to create asset tags and monitor usage or downtime. You can decide individually what type of asset monitoring you want to apply to a piece of equipment. For example, ToolSense supports RFID tracking for larger, stationary machines. Alternatively, the equipment tagging system can assign a unique QR code to a certain tool.
Intelligent Reporting and Analytics
To help you make the most of your existing equipment and utilise it to the best ability, ToolSense offers intelligent reporting and analytics features. By keeping an eye on usage, breakdowns, general downtime, and maintenance histories, you can determine your most vital assets to implement a preventive maintenance schedule that keeps important equipment in the best shape possible to prolong its lifespan and prevent downtime.
ToolSense is trusted by 700+ companies
Conclusion – Who Benefits From Asset Tracking Software?
Software for asset tracking is applicable in any business that operates multiple important assets. As soon as you are at risk of losing sight of your equipment, implementing tracking software can bring great benefits. That explains why this type of solution is available for various sectors, such as healthcare asset tracking software, school asset tracking software, or construction asset tracking software. One great advantage that ToolSense offers is its independence from pre-determined manufacturers, meaning it can be used in any sector – regardless of the types of assets you are intending to track.
Alexander Manafi (CEO) Gives You a Private Tour
Our CEO, Alexander Manafi, gives you a quick private tour. See the actual product and how it is used to improve your asset operations.
FAQ
Asset tracking software is used to manage and monitor physical assets throughout their entire lifecycle. This includes real-time visibility, location tracking, work orders, and maintenance management. Businesses profit from asset tracking solutions by optimising their asset utilisation, reducing asset loss, increasing their assets’ value through preventive maintenance, and streamlining maintenance procedures.
Asset tracking can help companies manage and safeguard their physical assets effectively. By improving maintenance strategies and decision-making, optimising asset utilisation, and reducing asset loss, businesses can increase their productivity, save costs, and profit from greater customer satisfaction.
Asset tracking systems are beneficial for many businesses in many sectors. Whenever a multitude of assets is in use and companies are at risk of losing their overview, asset track software can help keep an eye on location, usage, downtime, work orders, and more.
While asset tracking usually focuses on the assets’ location, asset management is a comprehensive method to monitor an asset’s location, runtime, downtime, maintenance history, and related work orders. However, asset tracking and asset management are often used synonymously.
The exact cost for a comprehensive asset management solution can vary a lot from company to company, as the price usually depends on the type and number of assets that are meant to be managed within the software – or the number of employees working with the platform.
