The Ultimate Guide to IT Asset Tracking

IT asset tracking is a must-have if you are looking to manage your technology resources efficiently to enhance productivity and cut losses and wastage.

If you are yet to implement IT asset tracking in your organization and you’re wondering how you leverage IT tracking for the success of your business, this article is for you! We will tell you everything you need to know regarding IT asset tracking.

Part 1 : What is IT Asset Tracking?

As the name implies, IT asset tracking is a computerized system that uses relevant technologies to track the physical location and other important inventory details of the respective assets.

This often involves the use of software (asset tracking software) in tandem with wireless technologies like barcodes, RFIDs, or GPS-based systems to obtain and process the physical location of the company’s asset for seamless tracking.

For example, a company’s generator situated in a remote office can be remotely tracked by installing a GPS system or suitable technology that sends real-time information about the generator’s location.

This information is stored and processed by the asset tracking software so that the team can see the location and movement of the asset.

Part 2 : Features of IT Asset Tracking

IT asset tracking software can vary depending on the target assets, required details, and level of accuracy among others. Generally speaking, though, here are the basic features that entail IT asset tracking:

1. Asset Lifecycle Mapping

IT asset tracking should allow the collection of data about each IT asset throughout its lifecycle, from acquisition to retirement including information such as maintenance history, repair records, and operational data. This provides a holistic view of the target IT asset's health and performance over time.

2. IT Equipment Location Tracking

IT asset tracking should also entail the ability to monitor and track the physical locations of IT tools and equipment in real-time. This helps in preventing loss or theft of these valuable IT assets.

3. Breakdown, Downtime, & Maintenance Tracking

IT asset tracking should be able to allow organizations to monitor how their IT assets are performing. This should include monitoring aspects like breakdowns, downtime periods, and the maintenance activities required to address them including even aspects like preventive maintenance scheduling.

Part 3 : Types of IT Asset Tracking

IT asset tracking comes in different forms based on the tracking technology. The common types of IT asset tracking are:

1.Barcode Tracking

Barcode tracking is a popular technology that involves scanning special numbers/patterns otherwise referred to as barcodes embedded in an asset. Each asset has a unique barcode and a scanner is used to read the code and relay this information to the computer for processing. This scanner should be in the line of sight with the barcode for seamless scanning.

2.GPS-Based Tracking

This is where a GPS device is wired or attached to the asset being tracked. The GPS device sends the real-time location of the device via cellular networks or satellite to the tracking computer.

With this system, you can geofence the asset and set alarms when they are moved outside its location. While this system is accurate and communicates over long distances, it is expensive and suitable for high-value assets.

3.RFID Asset Tracking

In Radio Frequency Identification (RFID), chips often referred to as tags are embedded in an asset. When activated these tags send information in the form of radio waves to the RFID reader where they are processed into meaningful information. Again this information is sent to the host tracking computer for storage and analysis.

4.Bluetooth Asset Tracking

IT Assets can also be equipped with small Bluetooth tags which emit Bluetooth signals periodically. The signals can then be received by Bluetooth receivers which can either be fixed in certain locations or carried by IT personnel.

This allows organizations to monitor the location and movement of IT assets within a designated area thus offering real-time visibility and making asset management easy.

Part 4 : Why is IT Asset Tracking Important?

IT asset tracking has proved invaluable and many companies cannot afford to ignore it due to its comprehensive benefits. Whether you are running a small or large business, asset tracking plays a significant role in your inventory management. It helps you get important asset inventory details for effective asset management.

With IT asset tracking, you can easily improve your operation efficiency because you know the assets you have and can easily put them to use when needed. This reduces cases where you mistakenly buy the same item because you probably think you don’t have it. Additionally, asset tracking gives you complete visibility of your assets.

You can always know if they are still safe or stolen!

Furthermore, asset tracking makes it easier to schedule asset maintenance to enhance asset lifecycle and improve regulatory compliance.

Part 5 : Challenges in IT Asset Tracking

While IT asset tracking offers several benefits, it also faces several challenges that make it less effective in certain applications. Some of these common challenges in IT asset tracking include:

1. Data Security

Protecting sensitive asset data from interception by hackers during transit or malware attacks is one of the major challenges in IT asset tracking. For better data security, several points ought to be secure starting from the gadget embedded in the asset to the office equipment.

2. Unexpected Breakdowns

IT asset tracking depends on multiple items working in tandem. If the tracking device suddenly fails, for example, you won’t obtain information regarding your assets until that item is fixed.

3. Scalability Issues

As an organization grows, so do its assets. However, most of the available IT asset-tracking systems limit the number of assets that can be tracked hence making asset-tracking scalability difficult.

Part 6 : IT Asset Tracking VS. IT Asset Management

IT asset tracking and IT asset management are two distinct yet closely related terms. In fact, they are often used interchangeably, yet they have significant differences.IT asset tracking is a solution that is focused on tracking the physical location and movement of an asset.

While IT asset tracking incorporates a computer/smart device for processing and storage of logs, it does not capture or process comprehensive information. Its scope is generally narrower.

On the other hand, IT asset management comprehensively tracks, manages, and maintains the assets. In fact, asset tracking is a part of asset management.

Besides the tracking details like asset location, IT asset management monitors the status of the assets to ascertain that they are working normally, schedules maintenance, generates reports and analysis for suitable actions, and even calculates and forecasts important asset aspects like depreciation.

Generally speaking, IT asset management is concerned with the entire lifecycle of an asset and its longevity.

Part 7 : MDM for Mobile Devices Asset Tracking

Mobile devices are now becoming key IT assetsMobile devices are now becoming IT assets in the workplace, particularly, with the growth in remote work and adoption of policies like Bring Your Own Device (BYOD). This is why Mobile Device Management (MDM) is proving extremely useful in device asset tracking.

MDM can effectively track mobile devices irrespective of the location and system using software that can easily be customized to meet user needs. With MDM solutions like AirDroid Business, companies can monitor their mobile devices from a central point by setting and deploying relevant policies across these devices.

These policies control user behavior on apps and network usage irrespective of the device operating system. Additionally, the administration can use MDM to geofence the devices so that if they move past the designated region, the admin receives a notification and a relevant action is taken.This ensures the productivity of the users while also boosting the security and safety of both the asset and its data.

Wrapping up

In a nutshell, IT asset tracking can help your organization improve efficiency whilst reducing costs, plus it can also help you make better decisions as an enterprise. That said, it is important to look for asset-tracking tools and solutions that suit your needs including a good MDM tool that can help you manage all mobile devices like smartphones and tablets.