Asset tracking software manages the physical locations and the availability of fixed assets and equipment. Asset-intensive companies use asset tracking solutions to optimize asset allocation, improve inventory management, and monitor the status of their assets. This type of software is used by maintenance technicians and supervisors for asset tracking and can also be used by accountants for asset depreciation. Employees responsible for warehouse and inventory management may use asset tracking to manage asset availability and their physical locations.
Asset tracking software is provided as a standalone software product or as a part of CMMS software or enterprise asset management (EAM) software products. When delivered separately, asset tracking software is integrated with other asset management software.
To qualify for inclusion in the Asset Tracking category, a product must:
Provide features to create asset registries (or lists of assets)
Manage asset categories and the relationship between them
Track various types of assets across multiple physical locations
Maintain a history of all adjustments made to asset inventory or location
Include GIS technology to track assets used for field operations