Asset Tracking is a subjective term. The term asset means different to different businesses and so does the term tracking. The nature of tracking commercial assets like Materials, Equipment’s, Machineries etc is different to tracking assets that move in and out of your premises (i.e. assets that are leased, rented and moved to new locations). On the other hand, Tracking for transportation and logistics involves barcode scanner and/or RFID (Radio Frequency Identification). Moral of the story is Asset Tracking Software comes in different flavours. In the UK, there are 22 suppliers who provide asset tracking software features with their fixed asset management software. With asset tracking software meaning different things to different businesses and with 22 suppliers, Operational Managers always shortlist and compare their options before making a purchase decision.

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Often Workflow of your assets and asset quantity play a key role in selecting asset tracking software. For example; if your assets move around a fixed workflow at one or two locations then your requirements are straightforward. An entry level fixed asset management software with asset tracking features should be sufficient. However, on the other hand if you have 1000 assets which move between 30 locations and have interlinked complex workflows then you need a more sophisticated asset tracking software.

The number of assets you are looking to manage is also a deciding factor. Less number of assets does not mean less complexity and vice-versa. The more pressing factor is the total value of your assets. You may have 3 machines which cost £500,000 each in which case you are looking for an asset tracking software to track £1.5 Million of asset value. On the other hand you may have 1000 assets worth £100 which means you are looking to track assets worth £100,000. Most fixed asset management software have a good level of asset tracking built into them. So it may be an idea to search for fixed asset management software when you are looking to track your assets.

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Often businesses take isolated view on Asset Tracking, there are other linked requirements like Inventory Management, Planned & Preventive Maintenance, Service Management & Asset Accounting. All these requirements fall under the category of fixed asset management software. Hopefully you agree that there is considerable level of complexities involved to choose the right software. This is the core reason why most operational managers scan the market for fixed asset management software and asset tracking software before making a purchase decision. The simplest way to shortlist and compare asset tracking software is at comparesoft.co.uk. 22 suppliers compared within a minute – they include video demonstrations and product brochures too. It’s free as well.
Most Fixed asset management software include asset tracking software features, it would be best to compare both of them to see what suits your business.