Your Ultimate Guide to Choosing the Best Asset Tracking Software for Your Business

Table of Content

1. The benefits of asset tracking software and why your company needs one
2. Key functions of an asset tracking software
3. Asset tracking software to look out for
4. Chose the asset tracking software that is best for your business
5. Working with Rayda software

We understand that 61% of businesses struggle with keeping tabs on their fixed business assets and some have admitted losses due to it or get overwhelmed with spreadsheets used for data gathering of their assets’ activities. You have realized that your business needs an asset tracking solution but you’re not sure how to go about that. It’s okay, we’re here to guide you.

Before you pick the best asset tracking software that is best for your business, you need to understand the functions of asset management so we can be on the same page because I know you want the best solution for your business.

The Benefits of Asset Tracking Software and Why Your Company Needs One

Asset Management and tracking software come with a lot of benefits that will be rewarding to your business and they include the following.

• Reducing asset spending thereby lowering the cost of implementation.
• Asset management software ensures that your work equipment is on the right work sites.
• Asset management software helps you keep track of your employees’ accountability. You have records of employees who have used equipment or who haven’t returned the equipment. This makes employees handle work tools with care because they understand that they’re being tracked.
• You get real-time data on your assets irrespective of the location you’re in. You can see the locations of your assets and track how they are being used.
• Asset management software can give you security over your assets.
• Your employees will be more productive, your workflows won’t have delays and tasks will be done quicker than they used to through extensive and advanced automation.

You can’t turn your back from truly securing your assets because it’s a necessity for your business. Tracking your business fixed assets improves the quality workflow that every business needs for growth. Investing in a smooth management system is worth it because everything is automated, and your data is compiled in one place. In simple, you can see the picture clearly on everything you need to know about your assets including their value.

Another thing to take note of is that you will have all the information you need to make business decisions based on data. You’ll quickly notice the assets that are the most productive for your team, the ones that are depreciating, the ones that you need to sell based on their value and so on.

Key Functions of an Asset Tracking Software

Many benefits come with great asset tracking software, but these are the key functions.

•  Asset tracking helps you with information about assets you’ve tagged.
• You can get data that you can act on in making key business decisions
•  Your team have a 360-degree picture of the daily operations of your business as they have easy access to all assets and inventory information in one place.
• A great asset tracking system provides ways for you to track any kind of asset, visible or invisible.
• You can track in real-time and collect accurate data for each of your assets.
• A great asset tracking software helps you to eliminate manual labour that wastes time and increases costs.

Asset Tracking Features to Look Out For

Now you have seen the benefits that an asset tracking software can give you as well as key functions, next, you need to look out for certain asset tracking features before you subscribe for one. One thing you need to keep in mind is that not all asset management software has the same features but there are key features you need to be on the lookout for no matter your company’s needs and these key features include;

· Cloud-software access

· Barcode scanning

· Repair tickets

· Software license tracking

· Maintenance tracking

· Depreciation tracking

· Check in/check out

· Reports based on data

· Automation

· Real-time data

· Compliance tracking

· Combined inventory management

· Software integration

You can check here to see how these features work.

Choose the Asset Tracking Software That’s Best for Your Business

Here are some tips to help you make the best investment decision on asset tracking software.

1. Identify What Exactly You need the Tracking software for. Are your assets tangible or not tangible or in a more explanatory sense, physical or digital assets? Figure out what exactly you need to track in your organization.

2. Know your tracking struggle so you can identify why you need to track your assets and prioritize that. Do you need to know how your assets are used, track employee accountability using company assets, or simply save costs? Know why you’re looking into an investment in asset tracking software.

3. When you know your company goals with asset tracking software, it helps you pinpoint the features that will be beneficial to your business and then you look out for those in the asset tracking management market.

4. Before you make any purchase of asset tracking software, you need to be in touch with the customer support representative to help you understand how the asset tracking software works. You can request a demo so you see the visuals of how the software can serve you or not.

Working With Rayda Software

We know that there are so many asset tracking software options out there, but Rayda has gone beyond the asset management software to give businesses an edge in their various industries by unlocking the value of their fixed assets. Rayda provides the infrastructure that you need to manage, track and insure your fixed assets without breaking the bank. We will go on this journey with you by giving you all the support and implementations of your asset management customized to your specific needs and goals. You can check here to view a demo of our asset tracking software so you can experience Rayda and see the available features that make our clients satisfied.

Choosing an asset tracking software does not have to be a challenge. When you know the right features suitable for your company, it will help you make the best buying decision that will help you enjoy the benefits and boost your business’s workflow.