What is Fixed Assets Tracking?
Definition: Fixed asset management is the process of managing every aspect of a company’s assets, from the moment an asset is acquired to its eventual disposal.
A rectangle can be a square but a square is not a rectangle. The same is true with Fixed Assets Tracking and Fixed Asset Management. Many people use the terms interchangeably but it is important to note the difference between the two.
One of the critical components of fixed asset management is fixed asset tracking, focused primarily on the last known location of each fixed asset. The process of controlling your property and auditing, typically using barcode and RFID technology is Fixed asset tracking.
A fixed asset tracking system keeps track of the whereabouts of your fixed assets and also enables keeping detailed records of your organization’s valuable property i.e. assets.
Here are some examples of the types of information typically involved:
- What assets the company has
- Where assets are located
- Who is using them
- When they should be returned
- What condition they’re in
- When they need to be repaired
- If they need to be replaced
Managing and controlling organizational physical assets with its different types, such as, computers, laptops, mobile phones, test equipment, spare parts or any object that’s used internally in your organization isn’t an easy task as tracking each asset is complex and consumes a lot of time.
Get in touch with us for: