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JIRA Service Management
JIRA Service Management
Formerly known as Jira Service Desk, Jira Service Management is an IT service management solution that unlocks high-velocity teams. IT is in the midst of rapid transformation to build capabilities that enable quick delivery of ...Read more about JIRA Service Management
Fiix
Fiix
Fiix is a cloud-based computerized maintenance management system (CMMS) that helps businesses organize their maintenance departments, get on top of maintenance backlog, and work towards preventive maintenance. The CMMS helps man...Read more about Fiix
IndySoft
IndySoft
Indysoft Calibration Management is a hybrid maintenance management solution that caters to businesses of all sizes across various industries such as aerospace, aviation, manufacturing, research and more. Key features include compl...Read more about IndySoft
MaintainX
MaintainX
MaintainX is a web-based CMMS tool that can be used on mobile devices. It aims to improve workflow completion and strengthen team communication. It can be used by operational teams in small to large businesses. This solution allow...Read more about MaintainX
Reftab
Reftab
Designed for schools and IT departments of any size, Reftab is a free asset management solution that helps administrators track and manage inventory, conduct asset maintenance, and complete work orders. With Reftab's intuitive dra...Read more about Reftab
SafetyCulture
SafetyCulture
iAuditor by SafetyCulture is an inspection checklist application that allows users to build checklists, file reports and conduct inspections through a tablet or mobile phone. The solution is designed for a wide range of industries...Read more about SafetyCulture
Nlyte DCIM
Nlyte DCIM
Nlyte Data Center Infrastructure Management (DCIM) is designed to help businesses plan, manage and automate the entire infrastructure lifecycle including data centers and hybrid-cloud resources. It enables administrators to foreca...Read more about Nlyte DCIM
UpKeep
UpKeep
UpKeep is an Asset Operations Management solution that helps businesses scale by giving every Maintenance and Reliability team the tools and information they need to run Operations efficiently and effectively. From your desktop to...Read more about UpKeep
EZOfficeInventory
EZOfficeInventory
EZOfficeInventory is a dynamic asset and maintenance management solution tailored for companies of all sizes. The cloud-based software works as you do and is accessible from anywhere and at any time. Track items across locati...Read more about EZOfficeInventory
nTireCAMS
nTireCAMS
nTireCAMS is an asset management solution designed to manage physical and virtual assets. The software supports all universal formats and provides users with tools to easily manage IT assets, audits, integrated help desk, licenses...Read more about nTireCAMS
seventhings
seventhings
seventhings is the all-in-one platform for smart and circular asset management. We enable companies worldwide to keep an easy overview of all objects in their company by digitizing and automating asset management. The future of a...Read more about seventhings
ServiceChannel
ServiceChannel
ServiceChannel Service Automation is an integrated suite of cloud- and mobile-based solutions to help manage the entire process of facilities management, including finding contractors and suppliers, entering all planned and demand...Read more about ServiceChannel
MAPCON
MAPCON
MAPCON is a maintenance management solution for manufacturing and facilities industries that offers standalone asset management, preventive maintenance, work order management and more. The solution provides mobile apps for iOS and...Read more about MAPCON
eWorkOrders CMMS
eWorkOrders CMMS
eWorkOrders is a cloud-based maintenance management solution offering an integrated suite of tools to manage work orders, asset management, inventory management and preventative maintenance. The software solution provides use...Read more about eWorkOrders CMMS
TheWorxHub
TheWorxHub
TheWorxHub by Brightly Software (formerly Dude Solutions) is a next-generation work and asset management CMMS platform, designed to streamline operations and facilities maintenance, for smarter, more efficient maintenance and oper...Read more about TheWorxHub
ManWinWin
ManWinWin
ManWinWin Software is the most experienced CMMS company in the World. ManWinWin is an easy-to-use, highly advanced and mobile-friendly Maintenance Management Software (CMMS), with artificial intelligence and augmented reality feat...Read more about ManWinWin
The Asset Guardian (TAG)
The Asset Guardian (TAG)
The Asset Guardian (TAG) has a proven 15-year track record for maintaining, managing and optimizing enterprise assets with thousands of users worldwide. TAG offers CMMS, EAM, APM, and Maintenance-as-a-Service applications that c...Read more about The Asset Guardian (TAG)
Maintainly
Maintainly
Maintainly (formerly Fixd) is a cloud-based maintenance management software solution specializing in asset and work order management. It is suited for businesses of all sizes across a variety of industries, including energy, healt...Read more about Maintainly
Limble CMMS
Limble CMMS
A maintenance solution simple enough that even your boss will use it. Our average customer reduces downtime by 32%, increases productivity by 26%, reduces part spend by 23% and increases asset life by 18%. All of this within a m...Read more about Limble CMMS
Asset Essentials
Asset Essentials
Asset Essentials by Brightly Software (formerly Dude Solutions) is a next-generation work and asset management platform designed for smarter, more efficient maintenance and operations. Brightly, now a Siemens company, is the globa...Read more about Asset Essentials
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Buyers Guide
Last Updated: March 16, 2023Asset tracking software helps users manage the location of, and work performed on, each piece of equipment or machinery throughout an organization. These systems share many capabilities with maintenance software and facilities management systems. However, asset tracking software often includes barcoding or radio-frequency identification (RFID) tags to quickly retrieve data about the machine.
This guide will outline the common capabilities of an asset tracking system, as well as factors buyers should consider when purchasing one. We’ll cover:
What Is Asset Tracking Software?
Common Functionality of Asset Tracking Systems
What Is Asset Tracking Software?
Keeping tabs on machinery, tools and other assets is critical in ensuring a company’s operations are uninterrupted. After all, asset failure and machine downtime can wreak havoc on a business’s bottom line.
An asset tracking system offers ways for users to digitally track the location of assets that have been physically tagged. It also stores asset information and inventory data, and can alert managers when spare parts stock is low.
Equipment data, including ID number, description and location, in ManagerPlus
Using software to track these assets can help:
Ensure scheduled maintenance is completed on time
Set up alerts and notifications so that the appropriate personnel are automatically assigned to tasks when new work orders are created
Track the life cycle of assets. Information about equipment condition, age and more is entered and stored in the system
Run reports and calculate depreciation of machinery
Common Functionality of Asset Tracking Systems
Most asset tracking systems include some or all of the following capabilities:
Work order management | The primary reason maintenance professionals need to track assets throughout an organization is to ensure assets are at peak condition and performing the task to which they’re assigned. Therefore, many asset tracking systems also include some kind of work order management functionality, allowing users to create and review work orders and assign them to technicians. |
Barcoding or RFID tagging | A useful functionality found in asset tracking software is barcoding, QR coding or RFID tagging. Users can create a barcode or QR code system by printing labels and attaching them to machinery. When technicians arrive at the asset to perform work, they can scan the barcode with a hand-held reader or capable smartphone to retrieve important information about that machine. This can save time traveling between the job site and the office computer, while increasing the accuracy of data workers use to perform their duties. |
Depreciation | Asset tracking software can also assist companies with calculating depreciation for each piece of equipment. Users simply enter information about an asset, such as date of purchase, acquisition value and estimated service life, then choose from several depreciation methods (straight-line, MACRS, double-declining balance etc.) to have values calculated automatically. |
Equipment rental | Some companies have assets that can be checked out by employees outside the maintenance department. These rentals should be documented so that equipment can be restored if lost or damaged; Or, if there is a repair to be performed, a technician can see where it is and who is in possession of the asset. Asset tracking software allows users to check equipment in and out: they can assign an employee to a piece of equipment, log the check-out and check-in dates and even store a signature for the renter. |
Mobile applications | The ability to use smartphones and tablets in the field increases efficiency for maintenance departments, giving technicians access to asset data wherever they’re located. Mobile capabilities are a major part of asset tracking. Users can download native applications for mobile devices and scan barcodes or QR codes to instantly view information about a piece of equipment. If the system offers inventory management capabilities, barcoding can also be used to update inventory quantities in real time: Simply scan a code and change the values for certain spare parts as they are consumed. |
Setting up barcode formats in Maintenance Assistant
What Type of Buyer Are You?
Some specific asset tracking capabilities, such as barcoding, can be particularly useful for certain industries. Here are a few types of buyers that can benefit the most from these systems:
Managers from manufacturing, healthcare or other asset-intensive industries. Companies with many pieces of equipment and machinery need a reliable way to manage scheduled maintenance. Manufacturers must keep critical machines operational in order to produce goods. And hospital maintenance managers have to ensure equipment stays running for the safety of employees and patients.
Using a barcoding system to retrieve condition information and work-order status saves time that could otherwise be spent maintaining the most critical machinery.
Facilities managers. Professionals who manage building maintenance also need to track equipment inside the facilities, such as HVAC units and lighting, to ensure occupants are able to work. Asset tracking software can alert workers when assets require repairs so they can address the problems quickly.
Fleet maintenance managers. Rolling assets can be especially challenging to track and maintain. Businesses that rely on a fleet of vehicles need to know exactly where any given truck, bus or van is located so that maintenance can be scheduled accordingly. Using an asset tracking system, managers can organize maintenance based on the vehicle’s location. This allows them to maximize the time vehicles are on the road in the most cost-efficient way.