In today’s competitive market, the manufacturing sector needs to monitor its remote assets efficiently. This in return derives maximum performance from assets and fixes the breakdowns quickly. If enterprises continue to operate without asset performance tracking processes, it will negatively impact the health and performance of machines and resources. Hence, asset tracking software is essential for enterprises to increase productivity, efficiency, and cost control.
Remote Asset Monitoring Software is majorly based on IoT and tracks remote assets effectively. IoT-based remote asset monitoring solutions offer accurate real-time information on an asset’s location, status, schedule maintenance, and notify managers about possible failures. It is helpful across various industries such as manufacturing, construction, logistics, healthcare, mining, and other industries.
What are Remote Asset Monitoring Solutions?
Remote asset monitoring is the ability to visualize, track, and control machines and facilities without being physically present on-site. Remote monitoring is implemented through various technologies namely wireless networks, sensors, transmitters, receivers, data processing, cloud storage, and analytics. The combination of these technologies helps managers with greater visibility into asset performance, predict equipment failure, and reduce resource consumption. Hence, remote asset assistance solution proves to be cost-effective and efficient for operation.
Also Read : Importance of Asset Condition Monitoring in Industry 4.0 Era
Key Benefits of Remote Asset Monitoring Software
As asset plays a vital role in every business, monitoring them constantly even from remote or distant places is equally important. Asset tracking can bring several advantages to enterprises in different areas. This automated remote monitoring simplifies the operation process for enterprises.
Let’s check out the benefits of Remote Asset Monitoring Solutions.
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Data Accuracy
Organizations always look for ways to improve operational accuracy, especially in terms of asset tracking. Hence, it is important to look for an asset tracking system that will fulfill your requirements. One of the main functions of asset tracking is providing accurate data. This information is crucial for identifying and improving the method you use to maintain your assets.
Asset tracking offers real-time and precise reports and insights to make informed business decisions. Asset tracking also helps in forecasting a company’s asset requirement. Enterprises don’t need to assume things in case of uncertainties. They can get the required data with IoT-based asset tracking. As a result, the accuracy and efficiency of the operational process increase.
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Saves Cost
Usually, it takes a lot to maintain assets as business operations are dependent on them. The intelligent insights achieved through data collection of IoT-based remote asset maintenance enable enterprises to optimize processes and gain productivity.
The chances of losing items are less with Remote Assistance App as it keeps track of assets efficiently. Replacing a lost item is expensive and causes unnecessary spending. Furthermore, organizations don’t need to hire an extra workforce to track assets. Manual asset tracking could lead to human errors. All these benefits can lead to cost savings and improved profitability.
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Reduces Asset Loss
Asset theft causes a major loss to every industry. Hence, every organization seeks greater security for its assets as there is always a high risk of theft. It is one way to prevent unnecessary purchases and save money for the organization. Switching to remote asset tracking is an effective way to keep a tab on assets even when nobody is present on-site. With the right asset tracking system, enterprises can easily track when a machine is used at a prohibited time. Companies can also attach tracking tags to the assets which can prevent theft or losing items. Organizations don’t have to worry about asset theft as the tracking software can give alerts so that management can take necessary action immediately. Asset monitoring solutions improve asset visibility as it provides accurate location details.
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Efficient Asset Auditing
Auditing asset is a complex process that needs a lot of effort. It has a crucial role when calculating taxes and maintenance fees. Creating an auditing report can be exhausting especially when there is uncertainty if the information is correct or not. A small mistake or any details missed can lead to higher compliance risk. This is why organizations need a remote asset monitoring system.
An efficient asset tracking software can streamline the whole auditing process. Asset tracking software can assist in auditing which makes the process less stressful for organizations. Moreover, it can reduce tax accountability as remote monitoring comes with features that users can fully utilize. In addition, it will reduce compliance risk since auditing will be streamlined with high accuracy. As a result, organizations are less likely to face legal penalties, financial forfeiture, and material loss.
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Optimized Maintenance Cost
Apart from operational costs, maintenance costs can be significantly reduced with remote asset tracking. When assets are not properly managed, it may reduce the lifespan of assets which leads to unnecessary spending. Therefore, digitally tracking of the asset lifecycle is crucial for efficient maintenance. When enterprises are aware of the history of asset usage, scheduling maintenance will be easier.
If machines require sustained maintenance, asset tracking software also provides notification for the same. It includes various information about assets such as the purchase period and frequency of usage. Once enterprises obtain relevant information regarding assets in a detailed manner, it allows them to have a clear-cut assessment for asset purchases.
Conclusion
Organizations need assets to implement operational processes. Remote Asset tracking is how enterprises track the overall condition of machines. However, it is not easy to keep an eye on every asset manually as it leads to human errors and financial costs. Therefore, it is wiser to utilize remote asset monitoring software for achieving various advantages.
Rejig Digital is a leading provider of Digital Transformation Solutions. Within that, we provide a remote monitoring platform- Accrue, which efficiently monitors and tracks operations by leveraging IoT technology. We cater to a wide range of industries spanning from manufacturing and healthcare to metal to hospitality.
