Small Business Technology News

How Automated Asset Tracking Benefits Small Businesses

Written by Tim Morral
Published: 9/4/2012

Asset tracking isn't a new concept for small businesses. But there are a lot of reasons why it may be time for small businesses to abandon manual tracking routines and adopt automated asset tracking technologies.

The ability to properly manage and monitor assets like equipment, IT and vehicles is an important business skill. When a company lacks confidence in the condition or location of key assets, it's only a matter of time before business and/or financial performance suffers.

Automated Asset Tracking Systems

Many businesses continue to rely on manual asset tracking routines even though the most capable data entry operators have failure rates of one error for every 300 characters entered. Although basic solutions like Excel spreadsheets are better than nothing, they usually don't have the capacity or features to ensure accurate asset tracking.

Tips for Automated Asset Tracking Solutions

Automated asset tracking systems are becoming popular with small businesses because they are accessible, efficient and minimize the potential for errors. Inventory solution provider Wasp Barcode Technologies offers several tips for small business owners interested in keeping up with technology and exploring the possibility of automated asset tracking in their companies.

  • Assess Hardware and Software Requirements. Automated asset tracking solutions have both hardware and software requirements. By fully exploring the hardware requirements before you commit to a software solution, you can avoid unnecessary expenditures and make sure your solution is suited to your existing IT infrastructure.
  • Evaluate ROI. Robust automated asset tracking solutions are affordable and should allow the business owner to recoup initial costs in a period of months. But like any IT purchase, it's important to perform a thorough ROI analysis of candidate technologies prior to purchase.
  • Try Before You Buy. Serious vendors of automated asset tracking solutions offer free trials and live demonstrations so you can test drive the product before commit to a purchase. Trial periods are usually the right time to create a training budget based on how easy (or difficult) you think it will be for your workforce to learn the new system.


Share this article


About Our Breaking Entrepreneurial News

Our small business news site is packed with useful information for people who love entrepreneurship. Find helpful entrepreneur resources about the latest business news and financial news concerning the market and the economy.

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities


Business Glossary