As an entrepreneur, you always streamline operations for maintaining high productivity. But then, it remains challenging amid intensifying challenges and diversification. What’s more, you need to ensure that all equipment or assets work seamlessly. Here, the right asset tracking system lends a helping hand. On one hand, it helps you maximize the asset life, and on the other hand, it can ensure better utilization of available assets.
Whether you own a manufacturing industry, run a chemical company, or even own a fleet of trucks, asset health monitoring always remains vital for the growth of your business. Thanks to advancing technology, we have a number of remote asset management software available, and it is difficult to choose the right tool. In this article, we will discuss some important factors to consider for selecting the right asset management system.
Top Factors to Consider for Selecting the Right Asset Management Tool
While choosing the right asset tracking software, it is imperative to check the following aspects.
1. Advanced Features
As per an official estimate, the asset management system market is expected to grow by over 27 billion USD in the year 2025. It indicates the ever-increasing popularity of asset tracking software in modern enterprises. But it is necessary to check whether the asset management tool you want to shortlist or select has some essential and noteworthy features including-
2. Variable tracking
An asset management tool should be capable of monitoring all the variables of various assets effectively.
3. Location mapping
In the case of remote assets, the tool should be capable of showing the asset location in real-time through geolocation mapping.
4. Firmware updates
OTA-based firmware updates and new features should be integrated and implemented with ease.
5. Previous records
Asset history and other related records fall under this feature and it is useful to drive business intelligence.
Apart from these key features, it is necessary for a standard asset management system to have various functionalities including notifications, asset category settings, reports generation, and asset transfer.
6. Tracking Capabilities
When it comes to robust remote asset management software, you need to ensure that it has holistic and real-time tracking facilities. It should be capable of measuring various physical and chemical parameters of remote assets including temperature, sound level, vibration, energy consumption, voltage, and air quality. Such a powerful asset tracking system can provide you with accurate reports and you can make informed decisions based on these insights.
The right asset tracking solution can give a complete picture of all your assets while involving all the necessary details like their location, weather conditions, and even the impact of these conditions. This information is useful for improving all systems and processes that ultimately result in better output.
7. Accurate Reporting
This is another important aspect to consider for your remote asset tracking solution. It should show pre-built reports and offer the customization of reports. A detailed report may contain various information like the asset location, purchase price, and maintenance schedules. You can easily create and maintain an asset register using this feature. Also, it makes it possible to leverage the benefits of predictive maintenance for increasing the asset’s life.
8. Mobile Access
An advanced asset tracking system is accessible through a dedicated and easy-to-use mobile app. Mobile access can enable you to track remote assets anytime and from anywhere. You can scan barcodes, view and create maintenance schedules, and update access or permissions using a mobile app for the remote asset monitoring software.
9. Robust Support
At times, technical bugs or issues related to malfunctioning in the asset tracking system may arise due to different reasons. In such a situation, it is imperative for your enterprise to get real-time and robust assistance from the system’s developer. You need to ensure that your asset monitoring software provider gives high-quality support and resolve such issues quickly.
10. High Customization
Another major aspect to consider is the remote asset monitoring software you choose is scalable and customizable. It should be easy to add custom features as and when necessary without spending a small fortune. Also, IoT integration and API access along with the cloud-based architecture are important factors you should keep in mind.
Choosing the right remote asset tracking solution is a daunting task, but once you select the right one, you can leverage its benefits like high productivity and more ROI over the period. Hope this concise guide will assist you find the most suitable asset management software for your enterprise.
At Rejig Digital, we provide our enterprise clientele with an advanced remote asset monitoring and management solution. Our IoT-based solutions are useful for remote assistance and asset tracking across all the core industries. Let’s connect to discuss the scope of our customized solutions for your enterprise.