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Any organization uses a variety of tools, equipment, resources and hardware in order to deliver its services efficiently. In addition, a significant amount of capital and resources are invested in acquiring and maintaining these assets.

The efficient delivery of services to the customer depends on the availability and smooth operations of these assets.

If one takes a look at the losses certain companies and organizations have made only due to the loss of theft of assets both fixed and mobile, the figures reach millions of dollars.

Additionally, the company faces further damage as the loss of assets can lead to customer dissatisfaction. Customers might not receive their product or service altogether which might cause them to abandon the company altogether. The lack of efficient asset tracking and monitoring solutions thus has rippling effects on customer service.

Overview of Asset-tracking Solutions

Rapid progress in software and electronic technologies have given rise to a multitude of tools and solutions such as QR-codes, barcodes, RFID tagging, GPS and SaaS (software as a service) among others.

Such technologies have allowed companies to implement robust and real-time asset tracking features with ease. Thanks to falling prices of technology companies can now afford to implement such stringent and advanced asset tracking features at extremely affordable rates.

The basic idea behind asset tracking is to mark or tag assets with labels or identifiers in such a fashion that they can be easily identified, recorded and monitored.

Databases need to be maintained which keep records of these assets.

Company executives are usually provided access to a software platform which provides easy-to-use dashboards showing the status of each and every asset. Some of the key aspects of modern asset tracking systems are mentioned below.

Automated check-in / Check-out – RFID tags (radio frequency identification) are user-friendly tagging tools that can be automatically detected when passed under a suitable scanner.

This automates the process of checking each and every asset that is brought within the facilities or warehouse. RFID tags have allowed companies to seamlessly monitor all the assets that are moved within the company. By establishing suitable checkpoints at planned locations, every movement can be easily tracked.

Advanced tagging options – QR codes and barcodes are one of the most cost-effective and efficient tagging solutions available today.

Smartphones have enough processing power to function as simple scanners and can easily scan such codes.

QR codes can store a lot of information such as the asset’s designated location, use, operational instructions, last scheduled maintenance and its current GPS location among others.

Company supervisors can easily scan the QR code and get all the details regarding the asset on their smartphone.

GPS tracking – GPS provides real-time location of goods that are in transit or being delivered to the customer. Goods can either be tagged with GPS signaling devices or QR codes can be used to send the current GPS location.

Customers can have live visibility of their product being delivered to their doorstep. Such transparency improves operational efficiencies and provides greater levels of customer satisfaction.

Automated database management – One of the key aspects of efficient inventory tracking is the immediate access and availability of data.

Through the use of cloud computing, such databases can be made available on the go.

All the employee would need to do is download the relevant company provided cloud module on his smartphone and he will instantly get access to all the records regarding the assets of his company.

Advantages of Asset-tracking systems

Some of the major advantages of asset-tracking systems mentioned below.

Easy recovery of stolen or missing assets – Strong asset management and tracking solutions allows company executives to easily recover goods that have been misplaced during delivery or stolen.

Enhanced Customer Service – Whether it is B2B interaction or B2C, customers and clients always expect smooth and fault-free operations. Asset tracking enhances the ROIs of businesses and leads to improved delivery of service through better asset management.

By always working with well-maintained and easily accessible assets, companies can ensure smooth operations.

Real-time Equipment Management – Company managers can have continuous visibility of all their assets and equipment. They will be immediately notified if an asset has been moved or altered.

By receiving such continuous feedback, managers can stay abreast with the latest developments within the company.

Through the use of modern technologies, companies can easily implement strong asset monitoring solutions that can ensure continuous service and protection of equipment.

One of the most vital aspects of equipment tracking is establishing the attitude of accountability within the workforce. All the technological utilities which have been implemented for asset tracking will fail if the executives themselves do not take ownership and responsibility of the devices and processes.

One of the best and affordable third-party asset-tracking services is Codes.

GoCodes provides easy to use QR codes and RFID tags that provide accurate and real-time asset tracking capabilities. Their patented technology combines GPS location with QR codes to seamlessly provide an update about the location of assets.

With GoCodes, you’re good to go—track your assets & inventory anywhere, any time. Unlike expensive old-school systems, GoCodes works from the get-go with no software to load and no special equipment to add. It functions on any laptop, tablet, or computer, and is enabled with smartphone barcode scanning.

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