Asset tracking involves technologies such as barcodes, RFID tags, GPS, and IoT sensors to automate data collection. Feeding this information into an asset management system provides accurate, up-to-date visibility into where assets are. An organisation’s ability to effectively manage and track the whereabouts of its movable assets is essential.
Comprehensive asset management systems give organisations the tools to monitor, maintain, and track their mobile assets and usage to ensure that equipment is used well, maintained properly, and downtime is minimal. Reliable information provides the peace of mind required to confidently address an organisation’s asset governance, risk and compliance needs and help realise the implementation of the ISO55000 standards framework.
What are the challenges in asset tracking?
Hardcat provides industry-leading asset tracking software, empowering organisations to manage their resources with precision and efficiency. From tools to machinery, our solutions ensure complete visibility and accountability. Many businesses struggle with asset management, leading to inefficiencies and lost resources.
Hardcat’s advanced tracking technology eliminates these challenges, enhancing accuracy, streamlining operations, and optimising performance. Without a robust asset management system, organisations may face:
- Asset loss and misplacement: Poor tracking can lead to lost or misplaced assets, increasing replacement costs.
- Frequent equipment breakdowns: Lack of preventive maintenance leads to unexpected failures and costly downtime.
- Equipment unavailability: Difficulty locating assets reduces operational efficiency.
- Regulatory compliance issues: Failing to meet industry requirements can result in penalties and legal risks.
- Inaccurate cost forecasting: Poor asset data affects financial planning and budgeting.
- Data integration challenges: Integrating asset data from different systems can be complex and error-prone.
- Data overload: Excessive, unorganised data makes it difficult to extract actionable insights.
- Theft and security risks: Poor tracking can result in asset theft or misappropriation.
- Maintenance issues: Lack of visibility into maintenance schedules leads to unexpected failures.
- Incorrect parts estimates: Mismanaged inventory can cause resource shortages or excess costs.
- Resource wastage: Inefficiencies in asset utilisation increases operational expenses.
Effective asset tracking is vital for any business, yet challenges like inaccurate data, asset loss, maintenance issues, and regulatory compliance can hinder productivity and drive up costs. Hardcat’s asset tracking software solves these issues by providing real-time data, enhanced visibility, and automation to ensure assets are properly managed.
With the right software in place, businesses can streamline operations, minimise inefficiencies, and save both time and money. Whether tracking powered or non-powered items, Hardcat delivers the solutions needed to maximise asset value and operational efficiency.
Why is non-powered asset tracking important?
Non-powered asset tracking, in the context of enterprise asset management solutions, leverages barcode, RFID, IoT, and GPS technologies to monitor engine-less assets like trailers, tools, containers, generators, tanks, and pallets across construction, logistics, emergency services, and field operations. Non-powered asset tracking is crucial because these assets lack onboard power sources, making traditional telematics ineffective and leading to frequent losses, misplacements, and inefficiencies.
Core Reasons
Frequent movement between locations without visibility causes operational delays, inflated rental costs, and theft vulnerabilities, with studies showing 20-30% efficiency gains from GPS/IoT tracking that provides real-time location, usage patterns, geofence alerts, and chain-of-custody data. In Hardcat’s EAM context, it eliminates manual audits and optimises utilisation by identifying idle assets and ensures compliance through integrated RFID/barcode/GPS with ERP connectivity.
Economic Impact
Reduces downtime, labour for searches, insurance premiums via theft prevention, and boosts ROI through better asset allocation and full audit trails for regulatory sectors like emergency services.
Hardcat Advantages
Hardcat’s enterprise platform delivers near real-time visibility into asset locations, movement history, chain of custody, usage patterns, and compliance status through automated check-in/out, mobile apps with offline support, geofencing alerts, and robust audit trails. Overcoming the lack of onboard power with integrated, long-life tagging that eliminates manual errors and losses. This ensures optimised utilisation, preventive maintenance, seamless ERP connectivity (e.g., SAP, Oracle), and full lifecycle accountability, reducing costs and boosting efficiency for government, law enforcement, and commercial users.
How Hardcat solves asset tracking challenges
Asset tracking is a critical function for organisations looking to maintain control over their equipment, tools, and inventory. However, common challenges such as inaccurate records, asset loss, compliance risks, and inefficiencies can hinder operations. Hardcat provides a robust asset management solution that overcomes these obstacles, ensuring organisations have full visibility and control over their assets.
With Hardcat, organisations can streamline asset tracking, reduce risks, and improve operational efficiency. All within a single, powerful system. Hardcat’s comprehensive enterprise asset management solutions address these challenges with:
- Near Real-Time Asset Tracking: Gain complete visibility of asset locations, status, and usage.
- Automated Inventory Management: Optimise stock levels to prevent shortages or overstocking.
- Preventive Maintenance Scheduling: Reduce equipment breakdowns with proactive maintenance planning.
- Regulatory Compliance Support: Maintain accurate records to meet industry standards.
- Seamless Data Integration: Connect with ERP, finance, and other business systems.
- User-Friendly Interface: Reduce human error with intuitive dashboards and automated data capture.
- Robust Security Measures: Prevent theft and unauthorised asset movements.
- Customisable Reporting and Analytics: Generate insights to improve asset utilisation and cost forecasting.
Key components of asset tracking and accountability
Effective tracking and accountability is essential for organisations to manage assets, personnel, and processes efficiently. Key components include:
- Clear Goal Setting: Be specific, measure outcomes, make sure they are attainable and relevant to understand expectations and responsibilities.
- Performance Monitoring: Regularly assess your progress against set goals to allow for timely identification of issues and implementation of corrective actions.
- Feedback Mechanisms: Implement systems for real-time feedback. This facilitates continuous improvement and alignment with organisational objectives.
- Employee Development: Provide training and development opportunities that aligns with both individual growth and organisational goals.
- Technological Integration: Utilising asset tracking software enhances visibility, streamlines processes, and ensures compliance with standards.
- Governance Structure: Defining roles and responsibilities ensures oversight and accountability at an organisational level.
By incorporating these components, organisations can enhance accountability, optimise asset utilisation, and achieve strategic objectives effectively.
- Audit trails of asset movements
- Chain of custody management
- Stock (inventory) level monitoring
- Certification tracking
- Inspection records
- Maintenance history
- Reporting and analytics
Tracking the asset chain of custody
In asset management, maintaining a clear and traceable chain of custody is essential for accountability when dealing with sensitive information and assets, ensuring every step of an asset’s journey is meticulously documented from acquisition to final disposition.
An Enterprise Asset Management (EAM) solution, designed with a strong focus on chain of custody, asset visibility and accountability, is a critical tool for organisations that need to efficiently manage their sensitive assets. This means that organisations can accurately trace the history of each asset, from the time it is acquired to the time it is disposed of, and who has had custody of that asset at any given time.
What is asset tracking and auditing?
Asset loss or mismanagement is a significant risk to any organisation since assets can move around both within a location, among personnel, and outside among service providers.
Assets tracking, in its simplest definition, is a method to track the whereabouts (location) of an organisation’s physical assets using asset tagging (such as Barcodes or using GPS or RFID tags).
By recording an asset tag and its location and/or custodian, you can verify (asset auditing) that an asset exists within your organisation’s asset management software and is also physically locatable. Periodic audits confirm location, assigned person, custodian, and condition.
Benefits of asset tracking
Asset accountability
Maintain chain of custody for a wide range of assets and equipment so you can always be certain about who has what and where with a complete audit trail of all movements and history of transfer of custody.
Securing assets with controlled access
Unauthorised asset usage or misplacement can lead to financial losses. Hardcat ensures accountability through user access controls and asset check-in/check-out functionality, ensuring that only authorised personnel can move or utilise critical assets.
Eliminating inaccurate data and asset loss
Manual tracking methods are prone to errors, leading to misplaced or lost assets. Hardcat’s asset tracking software leverages barcode, RFID, and IoT technology to provide real-time, automated data capture. This ensures that asset locations and statuses are always accurate, reducing the risk of loss and mismanagement.
Enhancing maintenance and compliance
Unscheduled downtime due to poor maintenance planning can disrupt operations and increase costs. Hardcat’s software includes preventive maintenance scheduling and automated alerts, ensuring that assets are serviced on time and meet regulatory compliance requirements. Comprehensive audit trails provide proof of compliance for industry standards and governance policies.
Automate maintenance schedules and track the maintenance history of tools and equipment. This guarantees that items receive consistent maintenance and remain in excellent condition. It makes them last longer and cuts the risk of failure. Well-maintained tools and equipment reduce the risk of accidents and injuries. This increases workplace safety.
Compliance and reporting
Generate detailed reports on item usage, maintenance activities, and inventory levels. This helps organisations follow regulations. It also provides valuable insights for decision-making and process improvement.
Increasing efficiency with automation
Tracking assets manually is time-consuming and inefficient. Hardcat automates asset tracking, movement history, and lifecycle management, reducing administrative workload and allowing staff to focus on core tasks. Integration with existing enterprise systems further streamlines operations.
Asset tagging
Selecting appropriate asset tagging and scanning technologies is necessary for effective asset management in order to track and verify an asset exists (asset auditing). The right mix of technologies enables thorough audits, quick asset transactions, and upkeep, guaranteeing a thorough audit trail throughout the asset’s existence. Deciding on which type of asset tag to use (RFID and/or Barcode) is determined by the quantity of tags required, budget, type of tracking you require, where you wish to place the ID tag and the environment they will be exposed to.
Enhanced inventory control
Consumables management allows for accurate tracking of parts and inventory. It ensures that inventory levels are always optimised. This helps prevent shortages or overstocking, reducing costs associated with excess inventory.
Improved availability
Asset tracking of tools and equipment via asset tags streamlines organisational operations. Manage the issue and return of items so you know ‘who has what’, ensuring that items are returned. This reduces downtime and delays in operations, leading to increased productivity.
Improving decision-making with real-time data
Making informed business decisions requires accurate data. Hardcat’s reporting and analytics capabilities provide real-time insights into asset utilisation, maintenance schedules, and overall asset performance. This helps organisations optimise resource allocation and improve financial planning.
Link business critical systems
Integrating into your HR, you can track the usage of tools and equipment by individuals, ensuring only personnel with the correct certification can have access to certain assets. This promotes accountability among employees, helps prevent loss, theft, or misuse of tools, and fosters a culture of responsibility within the organisation. Identifying personnel qualifications and impairments creates diligence around the responsible issuing of assets and meets safety and compliance requirements.
Role-based access to asset data
Role-based access to asset records ensures authorised personnel can update the chain of custody records. This feature makes it easier to control and limit access, ensuring security when assets move through different hands or departments.
Streamline asset tracking today
Hardcat has a proven track record of helping businesses across industries, from government and law enforcement to healthcare and construction, efficiently manage their assets. With scalable, customisable solutions, Hardcat provides the tools needed to improve accuracy, enhance compliance, and optimise asset utilisation.
By choosing Hardcat solutions, organisations can eliminate asset tracking challenges and gain complete control over their resources, leading to increased efficiency, cost savings, and peace of mind. Hardcat’s software solutions provide governance around the management of critical operational assets, ensuring only personnel with the correct certification can have access to certain assets. It helps enterprises improve the use, upkeep, and management of their assets.
