The worldwide adoption of asset tracking solutions is at its peak due to the changing world of work and technological advancements in this domain. Across industries, technology is changing the way assets are tracked and managed.

Radio-Frequency Identification (RFID) is fast becoming the most popular technology for tracking  assets, mainly IT hardware. Let’s dissect the major benefits provided by RFID Asset Tracking Solutions to understand why it is gaining so much popularity.

What is RFID Based Asset Tracking System?

One of the leading technologies that has revolutionized the asset inventory management industry is radio-frequency identification. RFID asset tracking is a system that uses radio-frequency identification tags (RFID Tags For Asset Tracking) to track and manage IT assets.

Inventory management by RFID requires a reader that uses radio waves to communicate with an RFID tag. The RFID Tags For Asset Tracking have a microchip that authorizes the reader to read and write data.

Why is it important to track IT assets?

Purchasing, renting and maintaining the IT assets results in significant cost for companies. Moreover, the lifespan of these assets is less due to the frequent technology upgrades.

Hence, it is very important to maintain better control over IT assets. Also, assets contain data which could be highly valuable and critical for business and decision making. This makes it even more important to track the IT Assets.

Hybrid work and work from home policies have further aggravated the pain of tracking IT assets. Now, the IT assets of the companies are more diversely located than ever, resulting in increased importance of tracking and management of IT Assets. A systematic deployment of RFID Based Asset Tracking System can be very helpful and profitable to the business as it could help keep an updated record of all the assets which would result in cost saving and better asset management.

Here comes RFID technology, combined with a robust IT asset management solution that can facilitate and streamline the tracking of IT assets like desktops, laptops, servers, printers, routers, switches, and other non-IT hardware assets.

What are the major benefits of using RFID to improve IT asset management?

The use of RFID for IT Asset Management ensures better control over the asset tracking operations, mitigates the risk of losing assets and ensures an accurate asset register. Here’s a look at the benefits the RFID technology provides to transform and improve IT asset management.

1. Quicker Physical Verification (Asset Inventory):

RFID tags do not require a “line-of-sight” scan and can be read even from a distance resulting into faster asset verification. The orientation of the asset tag and the reader does not affect the readability of the tag. Hence, RFID brings faster asset identification and inventory capability, besides improving asset visibility and accuracy of asset inventory findings. RFID technology reduces the asset inventory time by almost 98% and also ensures faster reconciliation.

2. Automated check-in and check-out

RFID technology helps in minimizing time and efforts spent on asset check-in and check-out through automation using fixed readers at entry and exit points. As IT assets move in and out of the office often, it is necessary to track any unauthorized movement and ensure speedy and hassle-free movement of people and assets. RFID provides all that through a touchless recording of all enterprise assets while entering and exiting a certain location.

3. Enhanced traceability

Great traceability is one of the most popular features of RFID tracking. RFID system helps in monitoring assets throughout the lifecycle across different processes. It enhances traceability right from the purchase of the asset to the eventual disposal. RFID system helps you make sure that items have passed through all the correct checks and processes. Having an up-to-date asset inventory will get rid of duplicate assets and prevent you from buying assets your organization already has.

 

Also Read: 7 Key Differences of Using RFID and Barcode Technology for Asset Tracking

 

The enhanced traceability that comes with RFID tracking in turn improves quality while reducing the number of goods returned. Moreover, RFID technology also results in a reduction of money spent on looking out for lost or misplaced assets.

4. Bulk Updates

Bulk updates are  overlooked but a very important feature of RFID system that helps you in saving a lot of time and effort. RFID technology has the ability to make bulk updates to the assets in the asset tracking system. Whether it is inventory, check out or disposal, RFID facilitates in initiating transactions for multiple assets together quickly and accurately. You don’t need to do changes in multiple assets separately with RFID.

5. Reduced Cost

Investing in RFID-based asset tracking system can help you save a huge amount of time and resources as it reduces human error risks, assets loss, and also brings efficiency and accountability. Moreover, it helps in saving the labor cost that accounts for around 50-80% of asset tracking cost. Saving significant costs and time, RFID Tags For Asset Tracking offers great benefits in this area.

It overall improves inventory management and allows real-time data capture. This enables you to drive efficiency improvements in operations and provides better insights and in-depth management information.

It also helps you increase customer satisfaction and opportunities for higher sales and market growth.

Conclusion

Management of IT assets in any organization is essential in order to have clear visibility over the hardware and other IT infrastructure  in an enterprise and to track down its maintenance. RFID Asset Tracking Software makes this process easier with multiple advantages as discussed above.

Because of these major benefits, RFID technology is the primary choice for IT assets management (ITAM). For companies depending heavily on their IT assets, RFID technology for asset tracking is a must have solution.

Are you looking to implement RFID Based Asset Tracking System in a quick and efficient manner? Get in touch with AssetCues and talk to our expert to leverage RFID technology to its full potential.