Who Makes the Best Asset Tracking Software
November 15, 2012 By kentm
In its simplest form, asset tracking software is no more than a mere transactional database which stores all your asset data and meta-data such as location. By that definition, almost anything can function as asset tracking software. Keep this in mind when shopping around.
Many software providers will lure you in with glittery graphical user interfaces (GUI) and fancy dashboards right before sinking their teeth into your budget. The truth is that well-engineered software has been carefully thought through and been designed to provide a solution that is much more than a mere transactional database without breaking your budget.
So the question remains, how do you cut through the glitter to get to facts? In other words, how do you know you re getting the most for your money?
Answer: Focus on the Basic Functionality
- The ability to scan fixed assets on an annual, monthly, weekly or ad hoc basis for inventory control purposes.
- The ability to programmatically measure depreciation for audit / insurance purposes.
- The ability to collect additional descriptive information and monitor assets regularly so you can improve asset utilization and reduce the total cost of ownership.
- The ability to capture and store detailed service documentation along with historical record-keeping.
- The ability to pull reports which will provide the information needed to optimize capacity planning and preventive maintenance to measure performance against revenue in determining profitability.
- The ability to function in other capacities such as inventory management, tool tracking, job costing, employee tracking and more.
Notice we said very little about reporting dashboards, alerts, and other fancy options. This is because, while nice to have, additional functions should be secondary qualities in your quest to maximize ROI.
We are not saying you should not buy an asset tracking software which offers convenient functionality such as dashboards, alerts and calendars. We (Dynamic Systems) offer some of those features ourselves. Rather, we are advising you to not become overly enamored with glittery GUI’s and focus first on the basic functionality.
As an example, consider the following scenario from a real life Dynamic Systems customer:
A manufacturing company owns a cutting machine with multiple drill bits that require periodic sharpening. Traditional asset management would require manual verification of the machine’s location and condition every cycle—a procedure which is easily automated with a simple scan of a barcode. Data from the barcode is programmatically captured by their asset tracking software .
Additionally, by linking the asset management program to a tool tracking program. managers have the ability to record each time a drill bit is checked out and the last time it was sharpened. This ensures that tools can be found quickly and that the machine can continue to work at maximum capacity. Due to the amount of time saved, the company could perform regular, scheduled inspections of the machine and all its parts.
This Dynamic Systems customer did not need any glittery functionality to improve production. Rather, they focused on maximizing ROI.
Businesses that are leading in their perspective industries invest in automating their back-end service operations because they know it will result in significantly more profit. Dynamic Systems has built strategic alliances with technology providers that allow us to offer all the bells and whistles for a fraction of the cost of other solutions.