Where Every Businesses Should be Tracking Its Assets

Imagine if you could have a crystal ball showing you where all of your company’s assets were at any given moment – from computers and tablets to vehicles and construction equipment.

 

With asset tracking in the cloud… you can.

 

Asset tracking from the cloud allows business owners to see a real-time map of all their assets, including who and how they are being used. In addition, cloud-based asset tracking makes it easy to generate reports on asset usage, which can help with budgeting and forecasting.

 

A cloud-based asset tracking solution is particularly useful for growing companies with an increasing number of assets or those that operate in multiple locations. It can also be used to manage inventory, track shipments and monitor employee whereabouts.

 

If you find that your company is struggling to manage old-fashioned spreadsheets, a cloud asset solution might be perfect for you.

 

How does cloud-based asset tracking work?

Asset tracking is the process of monitoring and managing the movement of physical assets, either internally within a company or externally between companies.

 

Cloud-based asset tracking systems use sensors to track the location of assets and then transmit that data to a central server. The server then processes the data and creates reports that can be used to track the movement of assets over time.

 

A cloud-based asset tracking system can also be integrated with other business software applications such as ERP (Enterprise Resource Planning) systems and CRM (Customer Relationship Management) systems.

 

Cloud asset tracking often relies on GPS and RFID technology to track business property. GPS tracking devices attached to objects use satellites to track their location.

 

RFID refers to Radio Frequency Identification, a wireless communication that uses tags to identify and track assets. Companies can incorporate the tags into any device. When the tag is near a GPS device, staff can instantly determine the location of the asset. This technology is becoming more affordable and accessible, making it a helpful asset tracking solution for small businesses.

 

Authorized users can then access the location data collected by the tracking systems from any computer or mobile device with internet access. This allows business managers to track the status and location of company assets in real-time, all with the click of a button.

 

Cloud-based asset tracking for modern business

Traditional asset tracking relied on paper-based systems or custom software integrations. However, a dedicated cloud-based asset tracking system offers several advantages over these outdated methods.

 

Increased Efficiency

In the world of business, increased efficiency is always a driver. Tracking assets in the cloud allows you to focus your resources on more beneficial tasks instead of manually monitoring asset information.

 

On the other hand, spreadsheet asset tracking requires significantly more resources and time than cloud-based solutions.

 

Reduced Costs

A preventative maintenance strategy includes anticipating maintenance before an issue occurs. That’s why it’s essential to perform this maintenance regularly to avoid unexpected equipment failures, saving you time and money. By using cloud-based tracking, you can eliminate paper-based tracking and management costs.

 

Increased Visibility and Accuracy

RFID tracking is highly accurate, with average inventory accuracy increasing from 65% to over 95%. If you’re like 70% of other U.S. businesses, up to 30% of your reported assets could be lost. Asset tracking software helps companies reduce ghost assets. Adopting cloud-based asset management software will allow you to monitor the location and use of your assets 24 hours a day, all through a mobile computing device.

 

Improved Security

A high-powered data security system can help mitigate fraud and identity theft risks. Therefore, investing in cloud-based software will upgrade your overall business security systems. The software automates storing critical information about your assets, lowering the chances of losing data in an emergency fraud situation. Monitor the status of your assets in real-time while relying on the cloud-based system to detect possible fraud.

 

Easier Collaboration

Identify high-value assets on the map, and assign them to specific users. Also, grant employees access to tracking data, so you’re all on the same page.

 

When the whole company is connected through robust software, everyone has access to the same information, and they can collaborate more efficiently at work.

 

The disadvantages of spreadsheets to track assets

When it comes to tracking your assets, spreadsheets might seem like the easiest solution. After all, they’re familiar and easy to use. But there are several disadvantages of using spreadsheets to track your assets.

 

Spreadsheets:

…can be easily corrupted, which can lead to inaccurate data.

…can be challenging to update and share with other people.

…can be time-consuming and labor-intensive to create and maintain.

…are not the most secure way to track your assets.

 

As the global economy continues to develop online, it’s crucial to take the necessary steps to ensure your company can remain efficient and relevant. Avoid spreadsheets for asset management and shift towards the future of cloud-based asset tracking.

Cloud Asset Tracking, All in One Place

RFID and GPS asset tracking systems have revolutionized how businesses track their assets and inventory. These systems are cloud-based, which means they are accessible from anywhere worldwide.

 

They are also very affordable, which makes them a cost-effective solution for businesses of all sizes. Finally, these systems are straightforward and provide real-time updates on the location of assets and inventory. As a result, companies can save time and money while improving their bottom line.

FAQs

 

What are the benefits of asset tracking in the cloud?

Cloud-based asset tracking has a number of benefits, including:

Increased efficiency – Tracking assets in the cloud allows for faster and more accurate data collection. This leads to increased efficiency across all aspects of your business.

 

Reduced costs – Cloud-based asset tracking can help reduce costs by eliminating the need for physical tracking devices and improving inventory accuracy. Also, keep track of your assets’ maintenance needs and stay ahead of the necessary repairs.

 

How does cloud-based asset tracking work?

Cloud-based asset-tracking works by using sensors to track the location of assets, then transmitting that data to a cloud-based server. This server then tracks the location of the assets and updates the information in real-time. This allows users to access information from any device with an internet connection.

 

Can I track my assets on a mobile device?

Yes, there are a number of mobile asset tracking applications that allow you to track your assets on your mobile device. These applications typically use GPS or RFID technology to track the location of your assets.