What is asset tracking?

Asset tracking is the process of monitoring and keeping track of the exact location, status, position, and other relevant information of your company's assets. Assets can be defined depending on your business, which can be anything from equipment and tools to IT devices and vehicles.

Asset management is another commonly used term for asset tracking. It generally refers to the tracking of long-term and high-value fixed assets, such as vehicles or equipment. Asset tracking is different from inventory tracking, which tracks stock or consumable things owned by a company. This can include items such as products or supplies.

Who can use asset tracking?

Uses of Asset Tracking

Who can use asset tracking?

A wide range of industries can benefit from asset tracking. Construction companies can keep track of equipment and heavy machinery across sites. Transport and logistics companies can keep track of trailers alongside trucks, and manage how they are utilized.

Healthcare providers can keep track of medical equipment, and educational insti­tu­tions can use it for laboratory equipment to ensure it stays on campus. Emergency services operators such as fire departments often use high-value equipment that require regular maintenance. Asset tracking software can help them locate where these assets are and notify them of maintenance tasks.

Why is asset tracking important?

Have complete visibility of your assets

Why is asset tracking important?

If you have complete visibility over your assets, you can achieve two goals: save time and save money. You can gain valuable insights into how assets are used (who, when, where, how) as well as about maintenance schedules, need for new equipment, and theft prevention.

All this invaluable data can be used to analyze your operation and support decision making, therefore improving efficiency by maximizing asset utilization rates.

How does asset tracking work?

How does asset tracking work?

How does asset tracking work?

There is a range of methods to track assets either digitally or manually. Some companies prefer pen and paper while others prefer to use Excel. But the most effective and efficient way to monitor and track the utilization of your company assets is with asset tracking software.

Some asset tracking solutions offer mobile appli­ca­tions and scannable asset tags. Mobile appli­ca­tions allow you to easily track assets on the go. The tags help you identify assets and bridge the physical items with their information in the database. There are many options for tags including barcodes, QR codes, and RFID tags. RFID tags allow fleet managers to identify drivers and which vehicles they use.

What is asset tracking software?

What is asset tracking software?

What is asset tracking software?

Asset tracking software uses GPS to determine the position of assets. It connects the location of your assets with software that collects asset data.

Some features include geofencing, which uses GPS to define geographical boundaries. This is an important feature that can protect your assets from theft and unautho­rized usage. Furthermore, track and trace features can determine not only the current location of an asset but also historical locations of assets, which is useful for asset management and improving the utilization of assets.

Have visibility of trailers and powered assets

Track your valuable assets

Have visibility of trailers and powered assets

Webfleet Asset Tracking gives fleet managers total visibility over trailers and powered assets on a straight­forward interface. Maintain your assets' security, value, and effec­tiveness with accurate GPS positioning, utilization reporting, maintenance notifi­ca­tions, and much more.

Learn more about how Webfleet Asset Tracking can save you time and money.

What are the benefits of asset tracking?

Benefits of asset tracking

What are the benefits of asset tracking?

When you have high-value assets like trailers, machinery and powered equipment, theft and unautho­rized use are critical concerns. A good asset tracking system notifies you when your assets are on the move, which deters unautho­rized usage and lets you react quickly to theft. It also gives clear visibility over your assets to minimize trans­portation risk from theft, loss, or misplacement.

Another benefit of asset tracking is that it reduces workload. Automated asset management provides positions and automates reporting on the way your assets are used, and improves the accuracy and efficiency of asset bookkeeping or rental billing. By scheduling maintenance tasks, you can keep your assets in top condition to maintain value and avoid costly downtime.

Features of asset tracking software

Features of asset tracking software

Features of asset tracking software

Webfleet Asset Tracking lets you monitor your assets and vehicles on one interface. Some of its main features include:

  • Track and monitor: View current positions plus mileage and movement statuses to get a full under­standing of how your assets are being used.
  • Engine hours: Get a better under­standing of how your machinery is being used by monitoring the engine running time of your assets.
  • Trace view: Gain visibility into where your assets have been with position updates every five minutes on the map.
  • Instant alerts: Get notified whenever your asset's status is changed, such as when it enters or leaves a defined area, or when a movement is detected.
  • Maintenance notifi­ca­tions Easily schedule and manage your assets' maintenance tasks based on the odometer, engine hours or time since the last maintenance.
  • Asset utilization reports: Get 24/7 access to reports about your assets, including position, trip, maintenance, address/location, and input reports (such as trailer door status).
  • Daily asset heartbeat checks: The internal battery of the LINK tracking device gives a daily update of your asset's location when it's not in use.
  • Coupling: If your vehicle is also equipped with a LINK tracking device, the coupled asset information is displayed automat­i­cally on the map for both vehicles and assets. You can easily identify which asset is connected to which vehicle.

What technology is used in the Webfleet asset tracking software?

Asset tracking software technology

What technology is used in the Webfleet asset tracking software?

The asset tracking solution we offer consists of our LINK 340 tracking devices and the Webfleet Asset Tracking subscription. LINK 340 has an integrated GPS antenna and GPS receiver, as well as an integrated mobile network antenna and module.

There are two monitoring options to get notified of your asset's status:

  • Motion monitoring, using motion sensor technology, means you will get notified once the asset's movement is detected.
  • Area monitoring, using GPS technology, allows you to set up a geofence, and get notified when your asset enters or leaves a designated area.

What are the challenges of an asset tracking system?

Challenges of asset tracking

What are the challenges of an asset tracking system?

One of the challenges of an asset tracking system is integrating it with other tracking systems. However, Webfleet allows you to monitor your entire operation by tracking your assets alongside your fleet in one interface.

Another issue for some companies can be cost. Webfleet offers customizable solutions to fit your business, with a return on investment generally seen in six to nine months.