Asset Tracking Tech

What Is Asset Monitoring? | Asset Tracking Guide

What is asset monitoring?

Asset monitoring, also called asset monitoring or asset administration, is a system of hardware and software program that logs details about tangible belongings, permitting a enterprise to confirm its belongings’ location and standing.

Along with asset location, an asset monitoring system may additionally monitor an asset’s identify, sort, utilization, engine hours, upkeep schedule, or different info, and should ship alerts to managers when something goes amiss.

Whereas the scope of asset monitoring is giant sufficient to use to fastened belongings comparable to warehouses and to smaller belongings reminiscent of laptops or pagers, this information takes a deeper take a look at probably the most weak class of belongings: Excessive worth, movable ones that have to be monitored remotely. In style belongings on this group embrace development and shifting gear, railway automobiles, delivery containers, and even moveable bogs.

Right here, you’ll study extra about the advantages to asset monitoring, the hardware and software program choices obtainable for it, which corporations are the perfect, and the way a lot all of it prices.


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What Are the Advantages of Asset Monitoring?

Theft Deterrence

Deterring theft is probably going the obvious advantage of retaining all of your high-value belongings intently monitored. Whether or not you’re merely establishing an inner disincentive for fraud or actively following up for insurance coverage claims, an asset monitoring program will present all the safety you have to relaxation straightforward.

Worker Behavior Tracking

Asset monitoring methods can log and show asset info 24/7. One additional advantage is that the actions of any staff utilizing the high-value belongings might be tracked as nicely, from their journey occasions to their engine hours to their geographic location to any unauthorized use. Given the worth of your belongings, you’ll need to guarantee your staff deal with them nicely. And because the asset monitoring system runs within the background, you gained’t have to micro-manage in any respect.

Effectivity

Belongings are handed from worker to worker to service supplier always, internally and externally, leaving plenty of potential for misplaced or misplaced belongings that may simply end in misplaced income and productiveness. An asset monitoring system is the apparent answer.

Knowledge-Pushed Insights

As soon as managers have collected sufficient knowledge on their belongings, they’ll achieve one other profit: The power to glean insights on the tendencies revealed by their gear’s journey and use. Are snow plows used extra in November? Lease a number of to satisfy demand. Are you seeing unneeded downtime throughout work hours? Tweak the schedule. Asset monitoring knowledge can reveal time-saving measures you by no means knew you wanted.

Upkeep

One of the best asset monitoring software program may be set to trace scheduled upkeep both by size of time because the final tune-up, or by metrics like engine use. E mail or SMS notifications will then be triggered when its time for a preventative upkeep job. Manually monitoring upkeep takes up time you possibly can’t afford, and don’t have to.

Centralization

All knowledge is simpler to trace when it’s locked right into a centralized database, notably one which’s up to date in actual time. After adapting to an top quality asset monitoring program, managers can be not solely capable of control their belongings’ quantity but in addition on its location at any given moment- all from their desktop dashboard, or perhaps a cellular app.


Asset Tracking Strategies

Belongings could be tracked by three foremost strategies.

  1. The primary technique makes use of barcode labels on the belongings, which have to be scanned so as to replace the system on every asset’s present location.
  2. One other technique makes use of GPS (International Positioning System) trackers, which routinely broadcast knowledge to the by way of satellite tv for pc.
  3. Lastly, RFID (Radio-Frequency Identification) tags could also be used to trace belongings. Every tag consists of an antennae that makes use of radio waves to transmit knowledge a brief distance. RFID tags could also be “passive,” which suggests they may solely transmit knowledge a couple of yard and should attain a checkpoint in an effort to be logged by the system, or they could be “active,” and use a battery to spice up their sign to round 1.25 miles, permitting knowledge to be logged extra simply.

Of those three strategies, GPS monitoring is the one one which tracks belongings in actual time, permitting a supervisor to view them always. The most important names in asset monitoring – Verizon Join and Samsara – supply GPS monitoring. Whereas RFID or barcode-based methods monitor much less info, making them imperfect for high-value asset monitoring, they are often extra versatile for companies with warehouses filled with merchandise to be shipped or bought.

In all instances, a central software program system logs the knowledge and maintains all high-value belongings. It’s this software program that may embrace options resembling textual content or e mail notifications, and which shows a dashboard that permits managers to view all their belongings at a look.


Asset Monitoring Hardware and Software program

Orbcomm asset tracking hardwareThe hardware wanted for an asset monitoring system varies relying on what technique you’ll use. If it’s GPS monitoring, you’ll want one GPS hardware unit per tracked asset. If it’s RFID monitoring, you’ll want one RFID tag per tracked asset, and one RFID receiver (additionally referred to as a reader) per storage location.

If counting on barcodes, you’ll want one barcode label per asset (sometimes bundled with the barcode monitoring software program), and at the very least one barcode scanner per asset storage location. When you’re utilizing QR codes, a smartphone or pill will be capable of scan them simply as simply as a scanner, which can save prices in case your staff already use them.

Most software program options are cloud-based: Enterprise managers subscribe on a month-to-month or, extra typically, annual foundation with a purpose to achieve entry to a software program that gathers knowledge from their asset monitoring hardware right into a central location. Because it’s cloud-based, any updates or debugging is dealt with by the software program supplier, so there’s no want for a devoted IT skilled.


Prime Asset Monitoring Corporations

Verizon Join

Verizon Connect asset tracking software for desktop and mobileVerizon Join’s GPS asset monitoring software program is obtainable by way of the Verizon Join platform, which additionally provides a associated FMS, or fleet administration system, software program. By means of Verizon, managers can monitor their belongings’ places in actual time on desktop, or with a cellular app, the place they will additionally obtain alerts. It covers fastened in addition to movable high-value belongings, although managers will possible be extra within the location of their excavators than their sheds. Managers use tags to raised filter via their asset profiles, which function knowledge together with location, present standing and utilization historical past.

Verizon Join is likely one of the largest asset trackers within the industry, and is really helpful for giant operations aiming to prioritize knowledge assortment.

Samsara

Samsara asset tracking desktopSamsara’s GPS monitoring system gives all of the options you need to anticipate. Managers can monitor belongings in a searchable database that types belongings by identify, sort, monitoring location, utilization, and engine hours for every. Managers can simply monitor billable hours, letting clients know that they’re solely paying for the hours throughout which an asset was in use.

As well as, textual content or e mail alerts can deter theft by notifying managers when a geofence is triggered or a powered asset is turned on.

Asset Panda

Asset Panda asset tracking mobile appAsset Panda gives a versatile and cost-effective choice: It helps GPS monitoring and comes with a flexible cellular app that may scan barcode labels. The dashboard is customizable, letting managers decide and select what belongings or knowledge must be prominently displayed, and a raft of integrations can be found, from G Suite to ConnectWise or Zendesk.

The software program consists of role- and location-based safety settings in addition to alerts and knowledge stories, and even tracks buy or lease info for every asset. It’s a sensible choice for companies that want loads of choices and integrations, however have to control the price.

Azuga

Azuga asset trackingAzuga gives each weatherproof hardware GPS monitoring models and the cloud-based software program to run them, in addition to its personal FMS answer. Along with real-time monitoring and reporting, the asset monitoring program charts the progress of every asset from supply to utilization to the billing course of. Alerts could be triggered not solely by when an asset strikes location or passes past a geofenced space, but in addition when an asset stops for an extended period. Belongings are seen on a dashboard map that may embrace automobiles as nicely, making Azuga a very good choice for managers that have to hold monitor of their moveable belongings and their fleet on the similar time.

Orbcomm

Orbcomm asset tracking dashboard shows equipment statusOrbcomm is an Web of Issues firm that gives a broad vary of asset monitoring software program and hardware  together with satellite tv for pc and mobile connectivity. Their XT 4760 unit is a ruggedized plug-and-play system that delivers stories and alerts on asset standing, location, utilization historical past, arrival and departure occasions, and cargo standing, all by way of a mobile connection. Whereas Orbcomm’s suite of software program options could also be too industry-specific for a lot of — choices embrace reefer trailer monitoring, heavy gear, and above/underground mine gear monitoring — they continue to be a terrific match for the companies that do want them.


Asset Monitoring Costs

Asset monitoring methods are sometimes priced per asset per thirty days, however billed yearly. There’s a variety of costs relying on the variety of belongings used and the variety of contains a enterprise requires.

A easy asset monitoring service tends to value round $15 to $25 per asset per thirty days, although some providers might go decrease. Function-rich choices usually tend to value anyplace from $40 to $80 per asset per thirty days, although they’ll make up for it within the larger productiveness gained and knowledge collected.

If your small business is giant sufficient, you possibly can possible get a boutique quote from many asset monitoring system distributors. You don’t have to ask them individually, nevertheless: With Tech.Co’s fast quotes type, you possibly can take a minute to fill out one survey and be capable of examine and distinction quotes from a variety of the most effective asset monitoring corporations round.

Examine main asset monitoring suppliers
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