Inventory system and asset tracking customer logo1
Inventory system and asset tracking customer logo2
Inventory system and asset tracking customer logo3
Inventory system and asset tracking customer logo4
Inventory system and asset tracking customer logo5

What is Asset Tracking System?

An asset tracking system combines desktop software, barcode scanners, barcode labels, and mobile devices to streamline the tracking of assets (e.g. equipment, items, tools, etc.) from acquisition to retirement in an organization. This could be a small office or multiple facilities spread across the country.

Asset Tracking System Diagram

How Asset Tracking Works

At its core, asset tracking works by performing three main functions — documenting asset attributes, location identification, and tracking movement. There's other activities that take place such as taking pictures, capturing signatures when items move, scheduling maintenance events, performing maintenance events, depreciation calculations, and many more. The act of performing physical inventory on your equipment and items is another input to an asset tracking system that allows it to accurately manage your shared resources.

Common Asset Tracking Applications

Popular System Functionality

  • Print barcode labels
  • Take asset pictures with smartphone
  • Overdue alert
  • Perform physical inventory
  • Warranty expiration alert
  • Signature capture
  • Create, run, schedule, and share reports
  • Full Features List

Know What You Have

The starting point to knowing what you have is to uniquely identify each and every item. Most assets like electronic equipment have a unique identifier already such as their serial number. But they don't always have an easily scannable barcode of the serial number. Plus, the items you need an asset tracking system for might not have something like that. That is why asset barcode labels exist, you can print your own or buy pre-printed barcode labels. Once you've got a method for identifying everything then you're well on your way to knowing what you have.

Know Fixed Asset Availability

Find Out Where, Who, and When

Locating assets is a critical task for many businesses. Typically, company-owned resources are stored and then shared throughout an office or spread out to multiple locations. Assets are moved when needed by individuals or to be made available for different projects. The challenging part is keeping track of all the movement and changes of possession over time.

With an asset tracking software you can look on your pc to quickly find out where each asset is located and see who the assigned custodian is. Furthermore, if an item has been checked out or reserved for a period of time, you can find out when it will be returned, shipped back, or made available again.

Locate Fixed Asset Wherabouts

Track the full lifecycle of your physical assets.
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Track Cost and Value

Over time assets age and need to be fixed or maintained. These services are needed to ensure assets retain value and remain usable to the business. Keeping track of asset value throughout its lifecycle is important to the many business because of the effect on financial statements and taxes.

Managing your assets with a tracking system allows you to log purchase order info, planned maintenance activities, and the details of the services performed in a digital database. You can even create alerts that are automatically sent when the dates are approaching. Calculating each asset’s value can be done in the software at any time, with your choice of depreciation method.

Track Asset Cost and Value


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Why Do You Need It?

Because a software system is the logical leap forward from using spreadsheets or paper-based log sheets to manage assets. Asset tracking systems provide a comprehensive solution for companies that need help taking physical inventory, maintaining accountability, and controlling physical assets both on and off-site. It is very easy to lose track of the resources your business still relies on outdated forms of asset management, especially when dealing with hundreds of assets.

IT Asset Management

IT assets (i.e. IT equipment) are purchased and then deployed or implemented at work stations across multiple locations. Then business needs and personnel change, which scramble the IT setup. This common sequence of events is incredibly difficult to track because of the speed and unpredictability of which it occurs. Monitoring the costs, usage, product details, and locations of the assets accurately is a critical challenge. In order to stay ahead of this potential liability, asset control solutions such as Passport help streamline tracking efforts and reduce associated expenses.

IT Asset Management Features

What Can I Track?

  • Laptops, smartphones, tablets

  • Hardware & machinery

  • Computer accessories

  • Vehicles

  • Construction tools

  • Medical equipment

  • Fixtures and installations

  • Delivery receipts

  • Medical records

  • Financial records

  • Legal documents and contracts

  • Licenses and forms

  • Work/Labor hours

  • Duration at site locations

  • Patients

  • Employees

  • Project time

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