Why Asset Tagging is one of the key elements for the successful business?

Asset tags are the unique identification tags, which have entire information about the particular asset. All fixed and movable assets such as machinery, IT hardware assets,furniture can be tagged.  Asset tagging performs a vital role in the process of asset management. Because, it is not only the printed label to highlight the asset name, user name and location. Additionally, the same will help in asset tracking. It is really difficult to track, when coming to thousands of assets without an effective tagging approach.

Which asset needs tag?

No need to tag each and every single asset of the organization. It will be effective even you tag the following category assets.

• Assets which undergo frequent changes like maintenance, up-gradation, replacements
• Assets which will depreciate over time
• High-value assets

Bar-coding approach

There are a number of approaches in asset tagging. Above all, bar-coding approach is one of the effective approaches to tag the assets. In this approach, every single asset will be assigned to unique tags and bar-codes. Asset tags are differ from the serial numbers. Serial numbers are also unique identifiers. But the difference is manual serial number entries will create errors. Additionally, the serial number can be used to pinpoint the asset. Besides that, asset tags help in asset tracking too. The same can be used to recover more important details like warranty, purchase details, location, current status, asset model etc. IT Asset Management software uses this best approach to manage the bulk quantity business assets quickly and efficiently.

IT Asset Management software identifies the asset category, the depreciation of the asset and other specifications about the particular asset when tagging an asset. Additionally, the software captures the asset owner information and uses the label to highlight the current state of the asset. This helps to identify the status easily.

Benefits

• Asset tagging enables a standard system for the asset management process
• Tracks the status of an asset and the useful life and depreciation
• Captures each movement of an asset
• Reduces possibilities of asset loss and theft
• Directly report to inventory/database
• Enables accurate asset tracking
• Improve the control of  inventory management
• Helps in compliance
• Helps collecting the data which required to make tax calculations

Also read, Asset Management can save $1M Dollars, real case study by ITAM