Asset Tracking Software: A Comprehensive Overview and the Best Solutions in 2020

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We are deep into the age of information. Gathering information is easier than ever, and organizations taking advantage of that have a competitive edge over their competitors. Tracking assets, for example, is a cost-effective way to utilize information to optimize a facility’s operations from the ground up and to put enterprise asset management software and practices to work. In this article, we’ll talk about what asset tracking software does, its features, and the best asset tracking software solutions for the coming year.

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Best Asset Tracking Software

What is Asset Tracking Software?

Asset tracking is a core feature of enterprise asset management, computerized maintenance management software, facilities management, inventory management and asset performance management solutions. It specifically refers to tracking the location of those physical assets within a site or between sites, often by scanning a barcode or utilizing GPS technology.

Don’t confuse this with financial asset management — that technology focuses on stock portfolios, business revenue and other financial assets that aren’t associated with individual pieces of equipment such as machinery, vehicles, facilities or tools.

If asset tracking isn’t quite what you’re looking for, we’ve also broken down lists of the best asset management solutions, the best work order management software in 2020 and the most affordable CMMS tools. If asset tracking is what you seek, read on!

What are the Features of Asset Tracking Software?

Because asset tracking can be performed by a variety of software platforms, it can be tricky to determine whether a software solution will meet an organization’s asset tracking needs by software type alone. Look for these features to identify asset tracking software:

  • Asset Check-In/Check-Out
  • QR and Barcode Generation
  • RFID Scanning
  • Mapping
  • Audits
  • Asset Profiles
  • Inventory Management
  • Stockroom Monitoring
  • Mobile App
  • Procurement/Purchase Order Management
  • Tool Management

 

Features of Asset Tracking Software

 

While these features aren’t the only ones that facilitate asset tracking, users seeking a solution specifically for tracking their assets should keep them in mind when building their requirements checklist. These features are also what our analysts considered when building this list.

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Best Asset Tracking Software

So which platforms are the best asset tracking software in 2020? Our analysts scoured the industry and came up with this list of the top five asset tracking platforms so you didn’t have to.

Asset Panda

Asset Panda is a cloud-based asset management solution that offers advanced asset tracking and monitoring capabilities on fixed assets. It comes with auditing, facility management, calibration tracking, equipment support ticketing and compliance features that make it one of the top asset tracking systems on the market.

 

Asset Panda

 

Asset Check-In/Check-Out

Employees can check assets out via their mobile devices with custom actions. Management can configure check-out fields to collect desired information from employees including names, dates, ID numbers, etc.

Asset Depreciation/Appreciation

How an asset loses or gains value has a significant impact on a business, so accurately logging asset depreciation and appreciation is vital for asset-intensive industries. Asset Panda offers configurable depreciation methods to monitor all or a select few assets as they depreciate. There is also an appreciation feature that calculates inflation of assets on a user-defined basis.

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Mapping

The system collects GPS coordinates of assets from a mobile audit function on mobile devices and uploads them to the mapping tool in a visual display for easy location and monitoring of assets.

Reporting

Asset Panda provides built-in reports on asset locations, maintenance history, usage metrics and more to give management varying degrees of insight into their assets.

Audits

Users can scan asset barcodes to effectively audit fixed assets using asset profile information. They can pull up information on warranties, repair history, asset condition, uptime reports and more from their mobile device for quick and efficient assessments.

Price: $$$$$
Deployment:
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Company Size Suitability: S M L

EZOfficeInventory

EZOfficeInventory is a facility and workspace management solution that specializes in IT assets, furniture, construction tools, AV equipment and other physical assets. It can be highly customized to meet specific users’ asset tracking needs.

 

EZOfficeInventory

 

Stock and Inventory

This feature lets users track asset stock as well as consumable items based on their location. They can set low stock alerts, transfer stock between sites and track asset inventory location within sites.

Label Designer and Scanner

The label designer offers professional-grade labels that can be formatted in a variety of sizes and styles. It also provides QR code generation and accepts third-party RFID scanning to track and log large quantities of stock.

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History Tracking

The system records a detailed history of repair work, warranties, asset information and more. It allows users to track asset usage trends over time to identify opportunities as well as optimize usage.

Groups and Sub-Groups

Users can classify assets according to custom qualities they define. The system then determines visibility and allows bulk actions based on these groupings.

Dashboard Counters

EZOfficeInventory lets users toggle easily between metric recordings and charts, purchase orders, etc. for smooth navigation and a zoomed-out view of the organization.

Price: $$$$$
Deployment:
Platform:

Company Size Suitability: S M  L

IntelliTrack

EZOfficeInventory is a facility and workspace management solution that specializes in IT assets, furniture, construction tools, AV equipment and other physical assets. It can be highly customized to meet specific users’ asset tracking needs.

 

IntelliTrack

 

Stock and Inventory

This feature lets users track asset stock as well as consumable items based on their location. They can set low stock alerts, transfer stock between sites and track asset inventory location within sites.

Label Designer and Scanner

The label designer offers professional-grade labels that can be formatted in a variety of sizes and styles. It also provides QR code generation and accepts third-party RFID scanning to track and log large quantities of stock.

Compare EAM Software Pricing & Costs with our Pricing Guide

History Tracking

The system records a detailed history of repair work, warranties, asset information and more. It allows users to track asset usage trends over time to identify opportunities as well as optimize usage.

Groups and Sub-Groups

Users can classify assets according to custom qualities they define. The system then determines visibility and allows bulk actions based on these groupings.

Dashboard Counters

EZOfficeInventory lets users toggle easily between metric recordings and charts, purchase orders, etc. for smooth navigation and a zoomed-out view of the organization.

UpKeep

UpKeep is a robust CMMS that offers everything from basic work order management to IoT-enabled condition-based asset monitoring. It enables users to monitor asset health, perform predictive maintenance and bolster facility health in real time from a cloud-based platform.

 

UpKeep

 

Maintenance Scheduling

Users can create preventive maintenance schedules from an easy-to-read calendar view and manage work orders, labor scheduling, work requests and processing, checklists, etc. A guest portal allows outside users to request work orders online and management can edit their details before approving them.

Workflow Automation

Managers can set the platform to automatically assign work orders to the qualified technician based on pre-defined criteria or previous work orders based on if-then rules.

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Meter Readings

UpKeep logs meter readings and triggers work orders based on pre-defined thresholds such as runtimes or asset conditions. It monitors metrics such as machine vibration, temperature, oil pressure, etc.

Cross-Team Functionality

The system centralizes purchase orders, work orders and communication to streamline the asset management process from procurement to retirement.

Warranty Tracking

UpKeep attaches warranty information such as expiration dates and image files to the asset profile, accessible by technicians via their mobile devices. This feature identifies assets with warranties that are nearing expiration and allows management to replace parts for free before the deadline.

Price: $$$$$
Deployment:
Platform:

Company Size Suitability: S M L

FMX

FMX or FacilitiesManagement Express offers facility and asset management features that optimize operational processes. It is a full-featured web-hosted CMMS that is ideal for SMBs.

 

FMX

 

Ticketing

Users can submit IT tickets within FMX without having to move to another system, promoting transparency and allowing both IT teams and ticket requesters to track the ticket’s progress as well as communicate directly on the ticket.

Step-By-Step Work Order Management

Work orders are automatically routed to the appropriate teams from a variety of user role types including guests. Administrators can outline step-by-step instructions for performing maintenance tasks within the work order ticket itself. Techs then check off each item on the list, tracking their progress and allowing them to return to in-progress maintenance tasks and get back to work uninterrupted.

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Custom Workflows

FMX lets managers customize the routes through which work orders are processed. They can compile and attract reports, set automatic technician assignments for individual assets, customize work order request forms and manage role-based access for work order creation.

Integrations

FMX can integrate with a variety of IoT-enabled devices and systems like sensors, alarms and other software to enable predictive and condition-based asset management.

Scheduling

FMX offers advanced scheduling features to automate and track a variety of tasks. Recurring task scheduling lets management set up repeating work orders on a pre-defined schedule to ensure routine maintenance is performed in a timely manner. Transport scheduling automatically detects vehicle and driver assignment conflicts to prevent double-booking, and event scheduling allows management to blackout dates for PTO requests, book rooms, schedule tasks up to years in advance and more.

Price: $$$$$
Deployment:
Platform:

Company Size Suitability: S M L

Compare EAM Software Pricing & Costs with our Pricing Guide

Final Thoughts

Now you should have a handle on why Asset Panda, EZOfficeInventory, IntelliTrack, UpKeep and FMX are the best asset tracking software in 2020. That being said, the best overall software isn’t always the best for your unique business. To find your perfect fit, get started by filling out our EAM requirements template, use our comparison matrix to compare industry leaders and scope out starting pricing for these solutions and more in our pricing guide.

What do you think of our list? Did we miss any? If so, why should they be included? If you have comments or questions, don’t forget to ask them in the comments!

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Bergen AdairAsset Tracking Software: A Comprehensive Overview and the Best Solutions in 2020

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  • george Devin - June 12, 2020 reply

    Nice explanation on asset tracking software and yes I’d like to add one more software SelluSeller which is provide many more features apart from the asset tracking it enables you to manage a centralized inventory for your business that gets updated in real-time.

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