Equipment tracking is also referred to as ‘asset tracking’; as its name implies, it allows you to keep track of an organisation’s tangible assets.

There is a wide range of physical equipment that a business or organisation requires in order to operate – think everything from diagnostic and life support equipment for healthcare providers, right through to the heavy equipment construction businesses depend on.

Given how easy it is for any organisation to lose track of what equipment it has – as well as such factors as its location and condition – due to a relentless focus on its core business, it might make a lot of sense to investigate the merits of an equipment tracking platform.

Equipment tracking

What is equipment tracking?

As mentioned, equipment tracking is the process by which a business or organisation keeps track of all of its tangible assets or equipment.

Such businesses may invest in centralised software that allows them to keep the latest information about their assets in one place – that place today increasingly being online. It is such a platform that organisations can refer to when they require up-to-the-minute details on their assets’ location, value, worth and status.

This is made possible with tracking and tagging technology, various forms of which have been adopted down the years – such as barcodes, Global Positioning System (GPS), and radio-frequency identification (RFiD).

What equipment can you track?

There is an extremely wide range of equipment that can be tracked with asset tracking software technology. This reflects the extremely wide range of machines, appliances and servers that organisations from across the sectors count on for their day-to-day operations.

Examples of equipment typically tracked with this software include computers and related equipment such as laptops, smartphones, printers and scanners, as well as equipment used for education, such as footballs and fitness machinery for sports, and lab equipment for science lessons. 

Indeed, whether your organisation needs to keep track of IT equipment, heating, ventilation and air conditioning (HVAC) equipment, lights, furniture, copiers, safety equipment, or any of a broad assortment of other assets, it is likely that asset tracking software can be used for them.

What are your best options?

We mentioned above that various types of tracking and tagging have long been used. The most suitable one for your business is likely to depend on such factors as the size of your organisation and whether you have multiple sites.

Companies that use mobile assets, for instance, such as vehicles or construction equipment, often use GPS tracking. Barcodes and QR codes, meanwhile, are easy to work with, and are often favoured among smaller organisations that don’t have as many employees and assets to track.

Then, there are RFiD tags. These are a somewhat more recent technology than barcodes, with businesses often using them for the tracking of ‘movable assets’ – in other words, assets that might be easily and quickly moved in and out of a building.

Meanwhile, for our own Vision software here at Assets & Compliance Managed Services UK, we use Vision-tags, which are an evolved version of RFiD technology. These tags are an excellent solution for the tagging of every location and asset within a company, being fully integrated into our Vision software and the associated mobile apps.

Among the many benefits of Vision-tags is the fact that they continue to work even if they are completely painted over, which differs from the situation for the older barcode and QR code labels. This helps ensure you will always have access to the most current and relevant data for a given piece of equipment belonging to your company.  

Equipment tracking

What are the benefits of equipment tracking?

The advantages of equipment tracking don’t start and end with the mere tracking of assets. After all, having a means of always knowing what is happening with your business’s assets will also support its broader profit and growth objectives.

Benefits of equipment tracking, then, include the likes of:

Reduced labour costs

It is well-established that automating vital business processes creates less need for laborious manual processes – thereby helping personnel to focus their efforts on the company’s core business.

It also means having equipment tracking in place will save you from having to employ additional people for the purposes of asset tracking. Furthermore, use of the software greatly minimises the likelihood of human error.

Better monitoring of profits and losses

There can be a tendency – especially within many larger organisations – for some assets to be lost or stolen over time. This can incur costs for the replacement of such items, thereby effectively bringing about losses that a business might not even be aware of.  

Asset tracking software can help avoid this problem, by introducing much greater transparency and accountability to a firm’s asset tracking.

Improved service

Accurate and up-to-date equipment tracking gives a business a clearer view of where it needs to make improvements. Staff will be better informed about issues relating to the management of company equipment, including maintenance and the potential need to order replacements for certain assets.

This, in turn, all helps improve the ultimate service the customer receives, which will give them a better impression of the company.

Assistance with the company’s growth

Equipment tracking software like Assets & Compliance Managed Services UK’s own Vision solution allows organisations like yours to track the lifecycle and depreciation of its equipment. You will therefore be able to use this data to be informed of when a given asset is likely to require complete replacement. As a result, you will be more motivated to keep up to date with the latest available equipment on the market.

Manual tracking is labour, time and cost-intensive compared to the use of an asset tracking system. Invest in a respected asset tracking system like Vision, then, and you will be better-placed to make informed decisions about your firm’s equipment, to support its ongoing growth.

If you would appreciate a more detailed conversation about the possibilities of the Vision software for your equipment tracking and broader risk and compliance management, please don’t hesitate to contact us.