Asset monitoring refers to the method of tracking fixed or movable physical assets through the use of a GPS device that broadcasts their location. Sometimes referred to as Asset Tracking or Asset Management, a monitoring device is affixed to a high-value asset and is configured to capture and relay valuable information, making it accessible from a remote location.
Each asset is assigned a unique identifier, called an electronic serial number or ESN. This makes it easy to quickly identify the location of a specific asset and pull up valuable data relating to the asset, or a group of assets. Users can easily identify the asset’s status such as if the asset is moving, or if a sensor has been triggered.
Asset monitoring devices and systems eliminate the need for manual documentation and data entry. Human error can result in expensive mistakes that can delay workflows and interrupt operations.
What Assets Should I be Monitoring?
There are a multitude of applications for asset monitoring, among them include the monitoring of high-value fixed or mobile assets and remote personnel.
- High-value mobile assets, such as vehicles, vessels
- High-value fixed assets
- Moveable assets and assets that require regular maintenance, repairs, or replacement parts such as equipment and machinery
- Remote workers such as contractors and employees
A few examples of assets that would benefit from Asset Monitoring
- Fixed assets (property, plant and equipment – or PPE)
- Capital equipment, such as machines and tools
- Remote personnel operating independently
Monitoring of remote assets means that you can easily capture data on the status of company asset and facilitate streamlined processes. This includes worker compliance and time sheet validation for personnel who work independently in remote locations.
Industries That Use Asset Monitoring
- Cable and Telecom
- Contractor Management
- Law Enforcement
Features of Monitoring Systems
- Automated notifications and data entries
- Permission based authorization
- Precision location identification
- Travel path and history
- Web-based Application
Benefits of Asset Monitoring
- Personnel timesheet verification: accountability, accurate reporting, auditable trail of records
- Monitoring location and movement of physical assets
- Tracking accumulated mileage and run-time
- Streamlined maintenance management
- Regulatory management and compliance
- Providing better service to customers