Without knowing the actual costs, profitability, and outputs of an asset, would you be able to run a successful business? Every business revolves around thousands of assets that streamline its operations daily. Being aware of the assets’ location is crucial to determine their role in your profitability. With such a massive influx of assets, manual tracking is not humanly possible. Fortunately, asset tracking software centralizes asset data to aid convenient access but with a wide range of solutions, businesses often fail to opt for the right software. Here’s a guide on the use of the software and how to choose the best asset tracking software for your business.
Asset Tracking Software
Can you list down all the assets owned by your business at this point? Such manual calculations usually lead to faulty results that result in losses that could be avoided by opting for an automation software. Relying on human labor to carry out such laborious and repetitive tasks is an error every business should avoid committing. Not only does it reduce labor productivity but produces inaccurate results too. When a business comes into existence, it is an absolute requirement to keep a record of the assets in order to manage and update them throughout the business’ lifetime. Asset tracking software facilitates businesses to keep record of their assets in real-time.
Use of Tracking Software in the Business World
Asset tracking is a method to record all the assets of an organization in one place. Asset tracking software enables users to maintain details of their assets’ costs, ownership, location, and past maintenance. Such software automates manual asset tracking methods and boosts precision and productivity. Businesses can update their inventory section by tracking the movement of all the assets including equipment, computer programs, IT devices, and machinery. Underutilized or obsolete assets are disposed of off to avoid extra costs whereas profitable assets are retained to increase profitability in the long run. Some of the commonly practiced methods to track assets are as follows.
- Install a GPS tracking system that functions across distances through satellites.
- Integrate RFID tags to stream your assets’ location using scanners.
- Attach barcodes to bigger assets to ensure updated log status at all times.
Businesses that utilize manual labor to keep track of their assets are unable to record their asset status in real-time. By deploying a software for this purpose, you will know which assets add value to your business and which are just adding additional costs in real-time. Thus, it enhances the efficiency of decision-making processes. Embed DotNet Report into your existing asset tracking software and generate insightful analytical reports in no time. Our visual charts and graphs add convenience to the users’ lives by equipping them with easy-to-understand reports. A tracking software gives you an eagle-eye view of your business operations and reduces the need to focus on every nitty-gritty of the business on your own. Stay on top of your game by using real-time tracking software to record your business assets as you will not have to spend hours on choosing the replacements and upgrades for your business.
How to Choose the Best Asset Tracking Software?
Analyze the Features
When surrounded by a pool of tracking software, most businesses opt for the ones that fall in their range of affordability. While financial restrictions cannot be avoided, it is crucial to analyze the offered benefits too. Before choosing the tracking software for your business, ensure that the features align with your requirements. The bare minimum this software can offer is to include a built-in GPS. However, to manage your operations successfully, you need to be ahead of your competitors in terms of asset management capabilities. Choose software that equips you with all the relevant information regarding your assets.
The location of your assets is not the only factor that impacts your performance, therefore, go for a system that provides you with an insight into the assets’ sound levels, temperature, movement, electric potential, etc. When choosing the right software for your business organization, tick the boxes that fit your criteria and choose accordingly. A software that only pinpoints the location of your assets would never reveal the bigger picture essential to making well-informed decisions.
The ‘one shoe fits all approach often takes away the chance to think out of the box. The option to customize a software package is crucial for advanced tracking requirements. We recommend you to go for software with an open-source front-end code that allows customization by the end-user once the product is ready to use. At DotNet Report, we offer notable features such as an open-source front-end code that enables users to add their specific requirements into the system to align it with their business requirements. By opting for DotNet Report’s services, you can customize the reporting front-end to match it to your brand image. Another value-added feature offered by DotNet Report is that it diminishes coding requirements for every report generated through its platform. Thus, you can utilize the application to the maximum potential with little technological knowledge.
Alignment with your Assets’ Lifecycle
Worried about buying software that exceeds your product lifecycle or falls behind in its potential? The first step in such circumstances is to analyze the lifecycle of your assets, both intangible and tangible. By doing so, you will have a clear idea of the tracking software required for your business. Go for software that equips you with features that last till your assets depreciate completely. It should include real-time asset tracking features that are promptly updated as your assets fluctuate with time. Investing financial capital in software that does not support real-time asset tracking till they last for cost-saving is a short-sighted measure that you should avoid to remain profitable in the long run.
Privacy and Security
Risking your business information to a third-party software is the last thing any business would go for. Data security should never be put at stake when any third party enters the organization. Choose software that guarantees data protection and privacy. A tracking software can track your physical and intangible assets in real-time which can easily put your data integrity at risk. Before signing up for the software, scrutinize the security features added to it and decide wisely. If you go for DotNet Report, it supports a multi-tenant client feature that restricts report access across various departments. Your reports can only be accessed, viewed, and edited by selective users or departments. We completely eradicate any risks involved with asset tracking through our secure platform.
Your search to choose the right software for your business does not end with discovering the features, pricing, and specifications that met your needs. The significance of pre and post-sale services should not be underestimated as businesses fail to unlock the full potential of the software when relevant guidance is not provided. Having access to the customer support representatives is crucial to utilize the software’s features properly. When the seller informs you of the software’s pricing, examine whether it includes the support services or not. Do not choose a software that does not include customer support in the whole package as it will result in losses in the future. DotNet Report offers unparalleled customer services to its users that begin before the sale and last the whole lifetime of the software.
DotNet Report’s Customer Support Services
- Our pre-sale services enable you to contact our customer service representatives before purchasing to inquire about the product offerings and features.
- After-sale, we equip you with the relevant guidance and training to unlock all the features.
- You can negotiate with our development support team to add special features to the embedded analytics software.
- Our customer service representatives are available round the clock to resolve any technical issues within 24 hours.
- As the software provides an eagle-eye view of the assets’ condition in real-time, businesses can optimize the assets timely and increase their lifetime value.
- The software enables business owners to evaluate all the existing assets without errors. Thus, the auditing process is streamlined and you can execute it effectively.
- It aids the asset maintenance procedure as the software schedules maintenance reminders. Eventually, increasing the lifespan of assets, the software saves organizations from incurring avoidable losses.
- By using tracking software, an organization can increase productivity. Manual labor is not subjected to repetitive tasks due to automation brought in by the software.
- Save yourself from the hassle of tracking every asset down by using tracking software. You do not need to maintain manual records that would not notify you about your assets’ location. Recover misplaced assets in an instant by the GPS positioning system installed in tracking software.
- As you do not require manual labor to carry out day-to-day repetitive tasks, it lowers the administrative costs. The costs associated with human error diminish too as automation lowers the probability of errors. Now, that the software manages asset tracking, administration can focus on analytical tasks in the organization.
Let us know if there are any questions or comments.