Provides vital information on the status and location of assets in transit using various technologies.
For all asset-intensive businesses that rely heavily on equipment to generate revenue, good asset management is essential. Whether that be stock, equipment, vehicles, or infrastructure. Without it, businesses not only risk being left behind by more advanced-thinking competitors but they’ll also incur expenses that eat into profits.
One of the most effective ways to overcome these issues is through asset tracking.
Each functionality of an asset tracking tool is built around the overall goals of reducing costs and improving efficiency. This results in a variety of benefits that asset-intensive businesses can achieve.
Increase Visibility of Physical Assets
The most obvious benefit of a tracking solution is to provide reliable monitoring of physical assets. This is achieved by creating a fixed asset register that is packed full of data. This enables users, from small business owners to enterprises, to keep close track of items as they move between sites.
Reducing Costs Associated With Loss and Theft
The cost of replacing lost and stolen assets has a direct impact on business spending. This prominently occurs to assets that are not being monitored. Effective tracking tools help to eliminate this problem and reduce costs associated with replacing assets.