Asset Tracking Issues & Benefits

Let’s be honest. Before spending money on a solution we all weigh it in terms of the long term benefit it offers as well as value for money.

Why spend money on asset tracking at all? How can it help me save money?

An efficient asset tracking system can help organizations push their efficiencies in the following ways:

• Streamline operations
• Ensure assets retain value
• Improve customer experiences
• Make informed business decisions

Simply put, asset tracking is to have up-to-date information on physical assets with the help of software. It provides critical information such as location, maintenance history, ownership, and contracts relevant to each asset.

The ability to track asset-specific metrics is a significant factor to improve your productivity, efficiency, and cost-control. In short, the benefits of asset tracking systems are abundant and can greatly improve your processes.

Now when we know about asset tracking, let’s discuss its benefits that can make you cut costs or increase revenue.

1. Reduce Administrative Costs:

Manual processing of administrative tasks significantly increases the chance of human error and reliance on staff to manually find out the status of each item.

2. Enhanced Customer Service:

When employees can provide the correct status of the assets to the customers it significantly enhances customer support.

Streamlined operations and efficient inventory management are other added advantages that can uplift the standards of customer service.

3. Better Regulatory Compliance:  

Why get into the hassle of ensuring compliance manually? A good chunk of industries requires regulatory compliance.

Maintaining regulations sometimes means tracking assets and record-keeping. With an automated tracking system, it becomes effortless to adhere to regulations of compliance.

Both government and internal regulations become an easy task with a tracking solution in place.

4. Superior Accountability & Reduced Cost:

In absence of a GPS asset tracking system, misuse of assets and poor handling is a regular practice.

Tracking of assets will empower you with critical information such as where the asset is, what its condition is, and which department is responsible for it at the moment.

Having this information will allow you to cut costs and would ensure that the output of assets is maximized.

5. Increased Efficiency:

The core reason for having an asset tracking system in place is to have improved predictability and insights for all companies.

Asset tracking empowers you to make data-driven decisions of critical importance about your assets. Decisions may include when the asset needs to be replaced or maintained.

Such decisions taken on time can increase the life of the equipment as they keep you aware of the preventive maintenance issues. It also helps in decreasing the cost and saves you time.

The Crux:

Almost every organization has some sort of tangible or intangible assets that are valuable. An asset tracking system can help smoothen the operations, improve customer experience, and empower them to make shrewd business decisions.

TPL Trakker is the pioneer of vehicle tracking solutions in Pakistan and is also the leading IoT Company in Pakistan. We help customers in extracting data about assets and utilizing them in intelligence to make smart decisions.

We offer the most tracking solutions in the industry and have been disrupting the space for more than 22 years. Learn more about our asset tracking solutions.