Investing in the right tools and technologies is a key priority of all businesses. Deciding on an appropriate asset tracking software is important as it facilitates the maximization of assets’ life through timely tracking, enhancing the effective utilization of your assets, and also preventing theft.
Choosing the best asset management software might be a bit of a challenging task especially if you are unaware of what to seek and what not to. In this article, we will check on what is asset tracking software and what important factors you should consider when getting your hands on asset management software.
What is Asset Tracking Software?
Asset tracking software refers to a set of tools responsible for monitoring and managing physical assets of any value. The major purpose of asset-tracking software is to provide a centralized system for businesses to keep track of their assets, streamline assets’ effective management, and optimize operational efficiency.
Factors to keep in mind while choosing an asset tracking software
1. Location tracking
The right asset-tracking software should incorporate real-time GPS-tracking capabilities for tracking the location of your asset.
- Geolocation mapping – Always try to opt for vehicle asset management software that provides you with real-time asset tracking. With this, you can track the real-time location of your non-movable trailers or containers carrying high-value consignment.
- Historical location- Having an insight into asset tracking history to find optimal and most efficient routes and drive business intelligence.
2. Monitoring of Assets
Asset tracking software can easily help monitor your assets be it your cargo, freights and trailers, or even the most valuable assets of your company i.e. your employees.
With the help of asset management software, you can easily assign assets, delegate trips, make updates, and manage all of these in one place.
Say goodbye to manual reporting and automate out-and-out operations
3. Multi-modal Tracking
Tracking each and every movement of your consignment becomes seamless with real-time asset-tracking software. No matter how many vehicles or modes of transport come into action to drop the consignment to its destination. In addition, you will also receive regular updates on its movements.
4. Data and Reports
Your asset tracking solutions should have powerful reporting features, from viewing pre-building to setting up custom reporting. You can have reports for all like the location of the assets, total number of cargos, speed of the assets, maintenance information, etc.
The data and reports can help you manage inventory, maintain your asset register, and conduct asset tracking.
5. ETA & Proof of Delivery
Customer satisfaction or client satisfaction is one of the top priorities of businesses as their trust is the most valuable asset. With a top-grade asset tracking system, live location and the estimated arrival time can be shared easily via automated alerts.
In addition to this, you can receive proof of delivery as soon as the consignment is delivered.
6. Alerts & notifications
Receive real-time alerts for custom scenarios that you opt for, such as consignment deviating from its assigned route, equipment staying idle for very long, and excess working hours.
Read Blog: What is Consignment and Asset Tracking?
Benefits of asset tracking software
Asset tracking software as a part of comprehensive fleet management software does a lot more than just tracking when it can do more than tracking. It serves numerous benefits which are further unfolded within the article.
- Real-time equipment tracking
It is very important for businesses to check where their equipment or assets are in real-time to ensure smooth operations. Real-time data plays a big role in this.
- Ability to track vital parameters
Besides covering real-time locational data, an ideal vehicle asset management software should be able to monitor other crucial factors as well including Traffic and conditions of the road, temperature of the assets, and other aspects of operations.
- Prevention of loss
The chance of cargo becoming misplaced increases due to the significant distance and time that separates the client’s location from the warehouse or fulfillment center; costing the business both money and goodwill.
When there is total visibility with the system in place, the likelihood of theft or loss decreases significantly. This helps boost client confidence and enhances client support.
Conclusion
It would never be wrong to say that asset tracking is not only crucial for the logistics industry but is also crucial for every other organisation with movable assets. The above features are a must for an effective asset management system. A solution nothing less than the above won’t help ensure an effective, productive, and safe transfer.
If you have still not invested in one, you really are missing something very amazing.
Well, are you seeking an ideal asset-tracking software? Worry not, we have got your back. TrackoBit is there for you to simplify the process of asset tracking and management.
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