Ever since its inception in 1974, barcode scanning technology has come a long way. The advancements in cloud computing and asset tagging technologies have made barcode labels popular in the consumer market. Over 5 billion barcodes are scanned in manufacturing, sales, and retail every day. Barcode asset tracking systems make it easier for owners and managers to trace, manage, and control the movement of their physical assets for various purposes. E.g., lifecycle management, stock flow, inventory, sale & purchase, etc. It’s a cost-effective and easy way to monitor and manage resources, especially when you own a large business.

How Does Barcode Tracking Work?

The barcode asset tracking system involves a barcode label, a scanner, and asset tracking software. The barcodes contain encrypted information that is printed and assigned to particular assets. These labels contain links to the information stored on the computer, which can be extracted by scanning the code. The barcode is scanned using a scanner, and its data is decoded by asset tracking software, which maintains a database. There are multiple barcodes, like 1D linear or 2D barcodes. The most commonly used example is the QR code, scanned via payment apps or found in advertising leaflets and magazines.

Does that spark an idea? Are you considering purchasing the best asset-tracking software for your business? Here are a few things that you may consider before placing your orders.

Features To Look For In The Asset Tracking Software

• Analytics & Report Generation 

Choose an asset tracking software that reports detailed analytics of your asset’s performance, especially the important factors. For example, duration of use, average downtime, frequency of use, and so on. This data provides valuable insights to help you determine the lifecycle or utility of your assets and could help you make major decisions related to them.

• Maintenance & Management

The best asset-tracking software allows users to create a custom-tailored maintenance checklist to manage and prioritize tasks. This feature sends notifications at regular intervals or automatically starts some tasks on the list. This way, no maintenance-related processes are forgotten or left incomplete, and teams can stick to the deadlines.

• Cloud Connectivity

Modern barcode asset tracking systems entail cloud connectivity, which makes it easier for teams working remotely to access them anytime, anywhere, on the go. This feature was especially beneficial during the pandemic because it allowed organizations to inspect assets, analyze their status, schedule their maintenance, and make major decisions related to them without actually visiting the office. Most software providers offer a cloud-based mobile app to remotely support and facilitate IT asset lifecycle management. Make sure that the app you choose includes this feature as well.

• Tracking of Assets & Inventory

Keeping assets safe is one of the reasons why people track them. A barcode asset tracking system avoids the possibility of misplacement or theft of assets. It helps with important procedures like compliance and audits. Moreover, it also allows managers to keep track of the inventory at sales and retail outlets.

• Importing Essential Information

The asset tracking software can automatically pull in information that is important from multiple sheets and reports. It reduces manual labor and also gives you a chance to inspect its previous maintenance and use history. High-end applications allow users to optimize and analyze this information or integrate it with different software so that it can be used for other purposes.

Seeking the best asset-tracking software for your company? Infraon’s barcode scanning software is best for IT asset lifecycle management. The tool is known for its ease of use, accuracy in automated data processing, and auditing efficiency. Click here to know why it is the best asset-tracking software in the market.