Asset Tracking And Wayfinding For Facilities Management

Asset tracking is vital to keeping businesses up-to-date with regulatory requirements, reduces costs, and can serve as a mapping tool.

By HD Vo

In the facilities management industry, asset tracking is a vital part of keeping your business running smoothly. To keep track of all your assets and equipment, you need to be able to find them quickly and easily. The last thing you want is for an employee to lose track of something important, or even worse: Have an accident because they didn’t know where they were going or what they were doing. By using a tracking app on your phone or tablet, you can ensure that every person on your team knows exactly where they need to be at any given time and exactly where each asset is at — no more wasted time, no more lost assets!

Asset Tracking

With an asset tracking app, you can reduce your audit time and thereby reduce costs.

You’ll be able to improve maintenance, faster and more accurate by staying on top of budget. You will also be able to stay compliant with regulatory requirements such as ISO 9001 certification and your internal controls. In addition to these benefits, these apps make it easy for you to add assets and equipment into the system along with wayfinding options; this is possible throughout your facility — whether it’s indoors or outdoors!

Reduce Audit Time

Reduce the time spent on auditing and the number of auditors per site.

Audit time is a major cost to operations, with audits being conducted at least annually. In some cases, asset tracking software can reduce the frequency of audits by providing managers with more accurate information about the location and condition of assets, almost instantly. This not only reduces audit time but also reduces travel costs for internal or external auditors traveling to multiple sites for these checks. In addition to the reduction in time spent on each site visit and lower associated expenses (fuel, lodging, etc.), this also means more efficient use of human resources: There will be fewer people involved in each inspection trip because they’ll be able to hit all locations once and for all instead of multiple visits for each one. The result is fewer staff members needed overall — a big win.

Improve Maintenance

Tracking assets and their maintenance history is key to improving your balance sheet and operations. With the knowledge of when an asset has been serviced, you can be proactive about future repairs. When you can see where an asset is within minutes of its last service call, you can easily track down any problems that arise. And if something goes wrong with an unserviced piece of equipment, it’s easy to determine who’s responsible for making sure it gets fixed—and fast.

Stay On Top of the Budget

The benefits of knowing the location, condition, and maintenance costs of assets are clear. But it’s not just about dollars and cents — it’s also about keeping your facilities running smoothly.

No matter how well-maintained an asset is, there will always be unexpected things that come up that require repair or replacement. When an asset moves out of place or breaks down unexpectedly, it can lead to costly delays in your projects and disruptions to operations if you don’t know where the spare part is or who has access to it. This can impact productivity as well as safety — and all without even considering the cost implications.

On top of this, by having a complete view into your asset tracking system you’ll have an easier time staying on top of budgeting for ongoing maintenance tasks, like preventative maintenance programs and service contracts with vendors where possible.

User Interface and Experience

The user interface and experience of any app is an important part of ensuring the customer enjoys using it and therefore continues to use it. The UI should be intuitive, easy to use, and simple enough for anyone to pick up.
A mobile app solution provides a unique set of challenges that needs to be addressed by designing a sleek, elegant interface that fits perfectly within the confines of a touchscreen device, such as your phone or tablet.

Make the process of tracking assets easier

You can make the process of tracking assets easier, faster, and cheaper.

Reduce audit time: Every six months you will be required to perform a physical inventory of all your assets. This means going through every room in every building and making sure that everything is where it’s supposed to be. This process can take weeks and cost thousands of dollars — not only does this mean lost productivity but also time spent on paperwork for your staff. Many companies hire third-party auditors who perform audits once or twice a year at great expense, which can be a waste as well! With an asset tracking app, you’ll know exactly what’s missing from each facility before they even open their doors each day thanks to real-time updates on their app or website dashboard — no more paperwork headaches!

Facility managers face many challenges, from ensuring that their assets are always in the right place to providing a great customer experience. We have highlighted a few opportunities for a great user experience with a mobile tracking and wayfinding app, saving a ton of time and money while improving employee safety and satisfaction.

Vo is the founder and CEO of InMapz, an indoor mapping technology company that converts static floor plans into dynamic digital twins to manage your buildings from anywhere. Mr. Vo is a serial entrepreneur and has founded four companies. He earned a Bachelor’s and Masters of Electrical Engineering degrees from MIT and an MBA from Northwestern University Kellogg School of Management. He can be reached at solutions@inmapz.com.

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