As a business owner with a range of assets, including equipment, tools and vehicles, you understand the importance of ensuring that they are accounted for at all times, especially if you need them for projects or you lease assets out to other businesses.
Keeping tabs on your small to medium sized assets is crucial to maintaining operational efficiency, and active monitoring can allow you to identify which of your assets require attention, as well as which ones are being underutilised.
So, what does your business need: asset tracking or an asset management system?
Fortunately today, digital technology offers several options that allow you to monitor and manage your business’ important assets. Software and mobile applications, coupled with innovative hardware solutions, make keeping track of your tools, inventory, vehicles and equipment both simple and efficient.
There are two main options available to your business: Asset Tracking and Asset Management Systems.
While both options work to improve your workplace operations, there are a few key points of difference that must be considered when making the decision about which solution to use in your business.
What is Asset Tracking?
Asset tracking provides your business with the ability to document the route that a vehicle or asset has taken, as well as the history of the asset’s location and usage over time. Through the utilisation of the Global Positioning System (GPS), you can accurately track and make decisions about your assets, with live data fed through to your software application in real-time.
What is Asset Management?
An Asset Management System, on the other hand, allows you to determine the location of your asset at the current moment in time through a platform. It stores asset data and assigns assets to projects and locations.
Asset Management Systems such as EROAD Where use software that synchronises with asset tags that are attached to each item. Each tag is equipped with Bluetooth® technology that connects to a unique mesh network of EROAD Ehubo2 units which “ping” the location of your small to medium assets, providing maximum visibility for stocktaking purposes.
Let’s compare these solutions:
Several factors must be considered when deciding which solution to employ in your business. Let’s break down the key differences between the two in terms of efficiency, cost and automation.
With the adoption of GPS, Asset Tracking solutions allow you to accurately monitor your assets’ location in real-time, as well as gather historical location data. This is a good option for fast-paced businesses with assets that are constantly on the go.
Meanwhile, Asset Management Systems such as EROAD Where employ Bluetooth® technology that provides current location data only, with no history available. If your business’ assets typically remain in one general place, like a warehouse or job site, this is a better option for you.
The cost of purchasing and maintaining GPS-based Asset Tracking solutions is far more compared to Bluetooth-based Asset Management Systems such as EROAD Where.
The energy-efficient Bluetooth® tracking tags that come with EROAD Where can also provide geofencing capabilities and are a much more affordable option for managing your small to medium assets.
GPS-based Asset Tracking solutions are often automated, with the GPS tracker sending real-time data to the software application and minimising the need for staff intervention.
Systems such as EROAD Where, however, require staff involvement to obtain the location of each asset each time.
In understanding these differences, you can identify which solution is best for the unique needs of your business.
So, is EROAD Where right for your business?
In the end, it comes down to what’s best for the needs of your business. Both Asset Tracking and Asset Management technologies offer you the ability to improve your operations and efficiently keep tabs on your assets remotely.
However, if you’re looking for a cost-effective solution that will provide you with full visibility over your small to medium assets as required, then EROAD Where is right for you.
Want to learn more about the EROAD Where Asset Management System?
Experience the full benefits of an effective Asset Management System with EROAD Where.
EROAD Where can help you meet your operational needs and achieve greater asset productivity and efficiency while you focus on managing your business.
Request a demo of EROAD Where now and see it in action for yourself.