Fundamentals Of A Successful Asset Tracking System

What is an Asset Tracking System?

Asset tracking system consist of desktop software, a mobile application, barcode scanners, and barcode labels. These devices provide the means to locate physical objects, collect data on its usage and whereabouts, and report on all activity. The system enables businesses of any size to effectively track a collection of assets from when the items are purchased or received, until they are shipped or disposed. Grand-Flo Spritvest Malaysia offers complete assets tracking system tailored to you needs. We are one of the leading asset tracking solution provider in Malaysia that offers all the necessary software, hardware and expertise that you need to implement an asset management system. Grand-Flo Spritvest Asset Tracking Software can easily check-in and check-out assets that can be assigned or tracked to a location or person. Our asset tracking system is able to retain records of usage, maintenance, and history of assets. Every transactions is logged using a barcode scanning system via a standardised check-in or check-out process. Asset tracking refers to the tracking of physical assets, either by scanning barcode labels attached to the assets or by using tags using GPS (Global Positioning System) or RFDC (Radio Frequency Data Communication) which broadcasts their location. Asset tracking system usually comprised of complete equipment setups like desktop software, mobile enabled applications, barcode scanners and barcode labels. These help in making up a complete system to locate your assets and products, also to monitor data, track whereabouts, locate physical objects, collect data on its usage and whereabouts, and report on all activity and more. An asset tracking system permits businesses of different scales to improve efficiency on either asset tracking or product shipments.

How Does Asset Tracking Work?

Asset Tracking System helps you to identify what you have, monitor the changes in physical location, and account for cost and changes in book value over time. Before we look into how to develop a successful asset tracking system, one must first understand the fundamentals of asset tracking. Usually, an asset tracking system uses both hardware and software to identify assets you have in the business, monitor the changes in physical location, and account for appreciation or depreciation in value over time. A wide variety of products could fall under the gamut of asset tracking. These include company laptops, factory machineries, company vehicles, office fixtures, financial records, licenses & forms, employees & labour hours, project time etc.


Make Sure You Know What Assets You Have  

Most assets should come with a unique identifier, usually in various forms of serial numbers, or barcodes, so these items can be recognised and tracked individually. The easiest way around this is to have a barcode printer that allows you to create your own barcode for different assets. These can be customised to include critical information such as your product name, project name, company logo, asset category and whatever information you deem necessary. Then, a barcode scanner allows you to read each barcode with encryption so that you are able to monitor your assets better, without risking leaks of confidential information.

Find Out Your Assets’ Where, Who and When

Keeping track of your assets is a critical task for businesses. As business expands, your assets usually grow and spreads to multiple locations. When assets are moved between locations, many owners find it difficult to keep track of their whereabouts. With a well-designed asset tracking system, you can easily find all information on your desktop PC, and see who the assigned custodian is.

Track Your Assets’ Cost and Value Over Time

Assets age over time, values depreciate, and certain assets require maintenance. An Asset Tracking System comes in handy to offer a detailed bird’s eye view of the value of your assets. Asset tracking is needed to ensure your assets retain value and remain usable to the business in the future. Keeping track of the value of your assets throughout the business is as important as other business operations because it affects financial statements and taxation.

Why Do You Need An Asset Tracking System?

The use of an asset tracking system replacing the needs of using spreadsheets or paper-based log sheets to manage assets. Asset tracking system provide a comprehensive solution for companies that need help taking physical inventory, maintaining accountability, and controlling physical assets both on and off site. It is very easy to lose track of the resources if your business still relies on outdated forms of asset management, especially when dealing with hundreds of assets. An asset tracking system is still a component many companies in Malaysia tend to overlook. The system provides a comprehensive solution for companies with substantial physical assets and inventories. Stop losing track of assets with the old conventional hand written records. All businesses have a collection of assets that they need to keep an eye on, and to maintain with the right tracking solution. Our asset tracking system will generate greater return on your investments in the long run with benefits of: Productivity, Accuracy, Flexibility and Accountability.