How To Choose An Asset Tracking Software That Saves Time and Money

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Introduction

If you’re seeking to bolster efficiency and accountability in asset management, selecting the ideal asset management software is a crucial step.

By providing pivotal insights and ensuring real-time oversight, this technology is vital for optimizing asset utilization and minimizing loss.

We’ll discuss essential features, and effective selection strategies, and offer actionable insights for integrating asset management software into your operations.

Table of Contents

Understanding the Importance of Asset Tracking

A network of physical and virtual assets
Optimize fleet management with the use of a reliable asset tracking software.

Fleet asset tracking encompasses a vast array of assets, including large commercial vehicles, trucks, containers, and other fleet vehicles.

Every item of value that a fleet business needs to monitor and manage falls within the scope of a fleet asset management system.

Reliable Asset management providers are essential to ensure the efficiency of these fleet asset management tools and solutions.

The value of fleet asset management software is immense. It enables businesses to:

  • Maintain an accurate record of their fleet and associated costs

  • Decrease administrative expenses

  • Manage maintenance

  • Obtain advanced reports & analytics

  • Minimize errors

  • Save time, and resources and overall boost efficiency

  • Gain enhanced business insights

EMDECS Fleet Asset Management Software

A well-implemented fleet asset management platform like EMDECS from BrightOrder can provide all of these benefits.

EMDECS is a fleet maintenance management system that provides a centralized ecosystem for heavy-duty repair shops, fleet owners, and/or owner-operators.

It offers a comprehensive view of all vehicles and assets requiring regular maintenance and monitoring.

EMDECS offers the following benefits:

  • Real-time remote monitoring for your fleet and assets

  • Providing valuable insights into fleet costs, usage, and return on investment

  • Enhancing fleet optimization

  • Scheduling reports

  • Leading to efficient utilization and cost reduction associated with lost or under-utilized vehicles.

  • A service board that displays the real-time status of your assets and their associated repair statuses.

4 Key Features to Look for in Asset Tracking Software

Real-time asset tracking software dashboard; Like EMDECS
Explore software options with multiple user portals for enhanced flexibility and collaboration.

When hunting for the perfect software to track assets, you should consider key features that align with your business needs. These include:

  • Real-time tracking

  • Easy to use interface

  • Mobile accessibility

  • Custom Reporting with historical data

  • Integration capabilities

EMDECS, our flagship software provides comprehensive insights that empower businesses to make informed decisions, optimize maintenance schedules, and maximize the lifespan of their assets.

EMDECS checks all the key features for the best asset management software.

1. Real-Time Tracking

Real-time tracking of physical assets is a fundamental feature of asset management software. It enables businesses to:

  • Have improved efficiency by monitoring asset locations, usage, and conditions in real-time

  • Provide comprehensive visibility into all assets within its environment

  • Offer real-time insights into asset statuses and locations, leading to enhanced business performance insights

EMDECS, for example, provides a robust set of features for tracking assets in real-time including:

  1. Service Board: EMDECS incorporates a service board to streamline operations. This feature allows for efficient scheduling and monitoring of repair and maintenance tasks, providing a centralized platform for overseeing the real-time status of ongoing services.

  2. Customer Portal: The Customer Portal in EMDECS ensures seamless communication between service providers and their customers. It offers real-time updates on the status of customer vehicles, enabling transparency and facilitating better collaboration between workshops and their clients.

  3. Efficient Inventory and Parts Management: EMDECS enhances asset tracking with efficient inventory and parts management. This feature allows businesses to keep track of their stock levels in real-time, optimizing the supply chain and ensuring that the necessary parts are readily available when needed for repairs or maintenance.

  4. Driver Portal: The Driver Portal in EMDECS empowers drivers by providing real-time updates about upcoming repairs. This proactive communication ensures that workshops and fleets are well-prepared before vehicles arrive at the repair center, optimizing operational efficiency and minimizing downtime.

2. Mobile Access

As the world becomes more mobile, accessing an asset management suite on the go through mobile devices has transitioned from being a luxury to a necessity.

EMDECS, being an internet and cloud-based software, is accessible via any browser or mobile device.

It allows users to conveniently access and modify asset information from any location, focusing on operational efficiency and adaptability.

EMDECS offers the flexibility to manage assets from anywhere with an internet connection, ensuring accessibility through mobile devices, desktops, apps, or remote locations for users of all kinds, for example:

  • Customers (via the customer portal): Easily check vehicle repair statuses in real-time.

  • Mobile Technicians: Fill out Repair Orders and track inventory levels on the go.

  • Drivers: Report road-noted issues for future repair while on the move.

  • Shop Managers: Monitor labour hours, inventory, and repair statuses remotely for informed decision-making.

3. Customizable Reports

Generate custom reports with EMDECS, there are 100+ various reports such as software usage tracking,
Customized fleet reports made easy with EMDECS – tailored to your unique requirements.

The capacity to generate customizable reports is another vital feature of asset management software.

However, not all software for tracking assets is created equal, and some may offer limited reporting capabilities. EMDECS stands out by providing over 100+ various reports across multiple categories, offering extensive customization options.

Furthermore, these reports can be scheduled to automatically send to specified email addresses on a weekly, monthly, or other designated basis.

This automation adds an extra layer of convenience to ensure that crucial insights reach the right stakeholders consistently.

These reports provide tailored insights into the managed assets, aiding in informed decision-making and optimization of asset usage.

Customizable reports enable businesses to address specific inquiries, monitor key performance indicators (KPIs), discover concealed patterns, and promptly pinpoint areas in need of improvement.

When assessing the reporting capabilities of asset management software, businesses should take into account the types of reports available and the provision of custom reports.

4. Integration Capabilities

The ability to integrate with other systems is another prime feature of an asset tracking system and when software solutions seamlessly integrate with other business systems, it optimizes workflows and enhances overall efficiency.

EMDECS’ asset tracking system can be integrated with various kinds of business systems, such as accounting software, data tracking, and Enterprise Resource Planning (ERP) software; this seamless integration allows businesses to have all their asset data in one place.

Exploring asset management software options like EMDECS, you will find that it’s one of the best asset management software in the market.

EMDECS can integrate with 3rd party telematics devices to sync information in real time.

The integration process in the asset data tracking system includes:

  • Consolidating data from various systems

  • Facilitating data collation

  • Enhancing efficiencies

  • Streamlining processes

It ensures that the asset managing software works in tandem with other business systems to provide a holistic view of the business operations.

How EMDECS Compares to Top Asset Management Platforms

In comparing asset tracking solutions, EMDECS leads as one of the best fleet management software in comparison to Asset Panda
EMDECS excels in asset tracking, elevating fleet management with advanced features.

In the realm of asset tracking solutions, EMDECS distinguishes itself with advanced features that elevate fleet management.

By comparing key factors such as customer support, industry expertise, and system compatibility, EMDECS by BrightOrder emerges as a top contender in the market.

When considering features, we look for aspects such as real-time tracking, mobile access, custom reporting, and integration capabilities.

We excel in all these areas and our user-friendly interface and robust customer support ensure a smooth user experience.

In addition to EMDECS, BrightOrder offers an asset management suite of Telematics Devices, such as Electronic Logging Devices (ELDs), GPS Devices, Dash Cameras, External Truck Cameras, and Tracking Devices with Geofencing capabilities. 

This comprehensive approach provides fleet owners with real-time data and insights to enhance operations.

BrightOrder’s industry expertise is tailored to meet the specific demands of fleet management, ensuring our solutions align with your unique needs.

Compatibility with existing systems is a priority for us, offering seamless integration and making BrightOrder a top choice in the market.

Ability to Adapt to Different Industry Needs

Diverse industries with multiple assets benefiting from asset tracking
Quality asset tracking software adapts seamlessly to diverse fleet needs.

Diverse industries benefit from specialized asset-tracking software designed for flexibility and customization.

It’s essential in construction for managing heavy-duty equipment, in transportation and logistics for optimizing truck routes and maintenance, and in public services for enhancing operational efficiency.

Customized asset tracking software ensures effective fleet management, leading to significant operational improvements and cost savings.

3 Things To Consider When Implementing Asset Tracking

The deployment of an asset tracking solution in your business requires a multi-faceted approach, involving the evaluation of current inventory management practices, selection of an appropriate solution, installation and integration with your operating systems and staff training to guarantee compliance.

To effectively track and manage physical assets, it is crucial to consider all these aspects in your implementation strategy.

1. Assessing Current Inventory Management Practices

Before initiating the implementation of an asset tracking system, it’s imperative to evaluate your existing inventory practices. This involves analyzing data from:

  • Purchases

  • Reorders

  • Shipping

  • Warehousing

  • Storage

  • Customer satisfaction

  • Loss

Understanding your current storage and handling processes is vital. It offers benefits such as:

  • Efficiently managing assets and accurate asset tracking

  • Establishment of proper procedures and protocols

  • Optimization of asset utilization

  • Reduction of theft or loss risk

  • Decreased maintenance costs

  • Identifying powered-down assets

By comprehensively evaluating your current practices, you can identify potential issues, set realistic goals for improvement, and ensure a smoother transition to a new system.

2. Selecting the Most Cost-Efficient Asset Tracking Solution

When evaluating the pricing models of various enterprise asset management and tracking systems, it’s crucial to consider the cost range for fundamental features and the potential value that the system can provide for your business.

With BrightOrder the onboarding process is free which is a significant differentiator from a lot of our competitors, plus we offer unparalleled customer support that ensures businesses receive timely assistance and guidance, fostering trust and satisfaction.

3. Training Staff and Ensuring Compliance

When implementing EMDECS as your fleet management software, we will ensure that your team receive timely assistance and guidance.
Essential staff training: master software, align with goals, enhance security.

Staff training is essential for mastering new software, aligning with organizational goals, and enhancing security.

BrightOrder offers unparalleled customer support, ensuring teams receive prompt assistance during the learning curve of implementation and training phases.

Effective training strategies include:

  • Developing concise training materials

  • Conducting focused training sessions

  • Applying practical scenarios

  • Clarifying roles and responsibilities

  • Offering constructive feedback

Training challenges, such as adapting to real-time asset visibility and managing data accuracy, are addressed by emphasizing the importance of precision and compliance in asset management.

By providing comprehensive training on the use of asset tracking software, we facilitate a smoother learning curve, emphasizing the significance of data accuracy, and establishing explicit protocols and procedures for compliance and asset management.

These efforts help to flatten the learning curve and ensure these obstacles can be swiftly overcome.

Analyzing the Return on Investment (ROI)

Following the implementation of the asset tracking software, it’s important to evaluate the return on investment (ROI).

Asset tracking software like EMDECS can offer significant cost-saving benefits as it provides insights into asset status, enabling proper maintenance planning and reducing costly breakdowns, asset downtime and repair expenses.

Partnered with BrightOrder’s Telematics, we can provide onboard diagnostics to alert the need for maintenance, for example: If repairs are needed immediately or if the truck is capable of finishing the trip.

These telematics, such as dash cameras, tracking, and GPS devices, are a real money-saving tool for your fleet and will result in a positive ROI. They offer valuable insights into asset utilization, aid in inventory management, and optimize processes. For instance, in the case of a not-at-fault crash involving a truck, the utilization of dash cameras can provide evidence, potentially reducing insurance payouts and avoiding rate increases. Additionally, for assets sitting in a yard, installing trackers can prevent theft or facilitate easier recovery, further enhancing the overall cost-effectiveness of these telematics tools.

The implementation of asset tracking software has demonstrated tangible return on investment in real-world scenarios, making it a worthwhile investment for businesses of all sizes.

Future Trends in Asset Tracking Technology

Future trends in asset tracking technology
What does the future hold for asset tracking and fleet management?

Like any other technology, asset tracking continues to evolve.

Future trends in asset tracking technology include the increasingly complex cloud technologies, increasing use of IoT devicesAI-powered analytics, and advanced tracking methods such as RFID and GPS.

Furthermore, intelligent sensors and IoT integration are expected to reshape asset tracking by providing real-time data from various signal sources, thereby improving efficiency and visibility in asset management.

As for tracking methods, GPS is expected to remain the primary technology for outdoor tracking assets and geolocation purposes, while progress in RFID technology is projected to improve indoor and close-range asset tracking capabilities.

To stay ahead with technological advancements, BrightOrder’s Telematics system leverages sensor data and GPS to log events and pinpoint the exact location of each truck in real-time.

It efficiently devises optimized routes and includes devices capable of Geofencing, ensuring precise and secure asset tracking.

Get Started with BrightOrder

Embarking on your journey with BrightOrder is a simple and straightforward process.

As a leading provider of fleet management solutions, we focus on delivering a user-friendly experience with robust features that cater to your unique business needs.

We understand that every business has unique needs and challenges, that’s why we invite you to schedule a meeting with us and learn more about our flagship software, EMDECS.

We’ll give you a comprehensive demonstration of our asset tracking software, tailored to your specific requirements, and showcase how BrightOrder Telematics can optimize your asset management practices.

Don’t miss this opportunity to experience firsthand how BrightOrder can transform your asset tracking and management.

Schedule a meeting with us today!

Summary

Asset tracking software is revolutionizing organizational asset oversight, providing a plethora of advantages ranging from financial savings to enhancements in operational efficiency.

By understanding the importance of asset tracking, evaluating key features, comparing top solutions, and effectively implementing the best asset tracking software, businesses can leverage this technology to optimize their asset management processes.

With the right asset tracking management, businesses can enhance their asset management practices, make informed decisions, and ultimately improve their bottom line.

Frequently Asked Questions

How do you keep track of assets?

To keep track of assets, determine what needs to be tracked, use unique tracking numbers, utilize asset tracking software, and keep track of asset locations at all times.

It’s important to equip assets with a GPS tracking system, barcode scanner, or RFID for effective tracking.

What makes a good asset management solution?

A good asset management solution should be able to both track assets, and manage both physical and intangible assets effectively.

EMDECS is one of the best asset management solutions as it has features like real-time tracking, mobile accessibility, customizable reports, and integration capabilities.

Additionally, it should be user-friendly and offer robust customer support. It’s also important that the solution is scalable and can grow with your business, accommodating additional assets and features as needed.

What is asset management software and what does it encompass?

Asset management encompasses the tracking and management of a wide range of assets, including managing physical assets like equipment and vehicles, as well as intangible assets such as software licenses and subscriptions.

It covers all valuable items managing assets that a business is required to monitor and manage.

What are the key features to look for in asset management system?

When choosing asset tracking software, look for real-time tracking, computer or mobile device access, customizable reports, and integration capabilities to meet your business needs.

EMDECS being a cloud-based software offers users the flexibility to access data remotely from multiple locations.

How is real-time tracking important in asset tracking software?

Real-time tracking is important in asset tracking software because it provides businesses with real-time and complete visibility into asset locations, usage, and conditions, allowing for comprehensive monitoring and management of all assets.

To stay updated on BrightOrder and to learn more about the best Asset Tracking software, be sure to follow us on LinkedIn.

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