Tool tracking software, also referred to as tool management software, helps businesses keep an inventory of tools and track tools’ physical locations and usage. These solutions offer features to check tools in and out via barcodes or unique identifiers, associating each checked-out tool with an employee record to increase accountability. Some tool tracking products keep a historical record of tool usage, include features for scheduling maintenance based on tool use, and identify when a tool may need to be replaced.
Tool tracking software is similar to CMMS software and enterprise asset management software, but is specifically built for the tracking of physical tools (as opposed to the tracking of various asset types offered by other types of software).
To qualify for inclusion in the tool tracking category, a product must:
Offer features specifically geared toward the tracking of tools, not just general assets
Track inventory of tools and tool locations