Explore The Benefits of Asset Tracking And Asset Management Software - Case Study Blog

Managing and tracking your company’s assets can be extremely tedious, even with the right software and hardware. However, asset tracking and asset management system offers a wealth of benefits that are hard to overlook.?

The strategic benefits of such software can help your business run smoothly in the long run, so much so that you’ll start wondering how you managed without it before. Look how fast this industry is growing through the stats showing the predictive market growth in asset management and tracking until 2026.

Using the best asset management and asset tracking system, you can make your business more efficient and effective. The most effective way to do this is by relying on a good software development company that understands your needs and delivers the solutions accordingly.

Check out how Value Coder's well-efficient experts have developed fail-proof asset management and tracking solutions for one of our reputed clients.

What Are Asset Management And Asset Tracking?

While both asset management and asset tracking software serve a specific role within businesses, it's important to understand the difference before deciding which one best suits your company.

Asset Management

Asset management is essentially keeping track of what you have at your disposal. It entails keeping track of what you own and how it helps you operate your business or run things for others. These items include equipment, vehicles, computers, devices, and furniture - among other necessary things to make operations easy.

Asset Tracking

Asset tracking focuses on locating assets to keep them safe when creating a label to identify what needs to be tracked and recorded. How often does something need repair or replacement? There are many options, such as scanning with a barcode scanner or wireless technology, allowing managers to see where they need to be.

For example, asset management may refer to all the human resources, while tracking software would only focus on providing information about those employees who work in security or driving.

How Our Team Developed The Best Asset Management And Asset Tracking System?

Our experts have solved multiple asset management and tracking issues for our clients. They have assisted many clients by letting them track their assets and ensuring compliance with government regulations.

We have created asset management and tracking solutions for almost every sector, healthcare, manufacturing, property, or military. Our years of experience allow us to deliver the best software development services.?

For one of our clients, our developers have created a high-end fail-proof app for a giant business solution facing issues tracking or managing its assets because of a vast inventory and numerous human resources.

When the client approached us, he lacked technical knowledge, but the intention was pretty clear. The client explained the issues, and we offered the most suitable solution after a thorough brainstorming that the client immediately approved.

The team of ValueCoders has created the asset management and tracking application using the most stable and latest technologies. Our experts have used their expertise to create the best-in-class app for their clients. The technologies used by our experts are listed below:

Technologies Used By The Experts

Angular 2+

Our expert developers choose Angular 2+ as it is one of the most preferred platforms for developing web applications. Its benefits include:

• High-quality applications
• Faster development
• Lightweight and cross-platform compatible

Bitcore.io

Bitcore.io is a Bitcoin-based platform that allows users to use blockchain technology for developing applications. The platform offers a simple and powerful API. It allows for fast transaction speeds. Bitcore has the advantage of large-scale transactions.

Some other advantages of Bitcore include:?

• Security: Bitcore is built from the ground up with security in mind. Miners on the network verify all transactions, providing high-level security.?
• Privacy: Bitcore offers confidentiality through its private transactions feature.?
• Scalability: Bitcore can easily handle large volumes of transactions, making it well suited for commercial applications.

With so many advantages to offer, our experts prefer using Bitcore.io.

Blockchain

A blockchain is a digital ledger of information distributed across a network of computers. This decentralized network ensures that each transaction is secure. The transparency of the blockchain allows all parties to view the entire history of the chain, which builds trust between users.?

Our experts know that the advantages of blockchain technology are vast, so they have chosen this technology to build the solution. Some of its other benefits include:?

• Security: Blockchain technology is incredibly secure because of its decentralized nature and immutable ledger.?
• Trust: Because all parties can view the entire history of the chain, there is no need for a third party to verify transactions.?
• Transparency: Users can see each transaction that has taken place on the blockchain, which builds trust between users.?

ExpressJS

ExpressJS is a Node.js web application framework that provides a robust set of features for web development. Some of its advantages include:

• Easy to use - ExpressJS’s minimalist design makes it easy to learn and use.
• Scalable - ExpressJS is based on Node.js and easily handles large-scale traffic loads.
• Flexible - It is very flexible and adaptable to meet the specific needs of your project.
• Fast - ExpressJS is quick, efficient and can smoothly handle high traffic loads.

JWTtoken

JWTtoken is a JSON Web Token. It is a compact and self-contained way for securely transmitting information between parties as a token.

Some advantages of using JWTtoken include:?

• JWT is cryptographically secure, so it's hard to tamper with the information.
• It is self-contained, meaning that the payload (information) is encoded into the token itself, so it doesn't need to be passed separately. This makes JWT more efficient than other methods, such as cookies.
• JWT can transmit any information, not just session data.?

The experts have also used many other trending technologies like MongoDB, Payment Gateway, BlockCypher, Exchange, NodeJS, etc.

We offer asset management services, but our experts also provide technical expertise in other areas, under one roof. Whether you're looking for software development, app development, or even technical support , we have got you covered, making us the most comprehensive and dependable outsourcing software development company.

Challenges Faced By Our Technical Team

Our experts came across several challenges while offering the best software development services. You can have a look at some of these challenges below:

• A lack of technical knowledge at our client’s end made our team step in and offer expert guidance on the logic behind the app
• The client has provided all the third-party tools, Plugins, and API
• As per the requirement, the client-side should be capable of managing diverse needs promptly
• Avoiding or minimizing maintenance errors was another challenge for the developers
• Replacing the old system with a completely new asset management system.

Solutions Offered by our Experts

The experienced developers at ValueCoders knew what they were doing before beginning work on the project. They offered these solutions to the prospective client:

• Transactions solutions for buying or selling houses and creating and closing listings
• Assets tracking for houses and listings
• Managing participants, including buyers and homeowners
• The new system is made by using more advanced technologies for better functionality and improved performance

Final Result

The final solution created by our experts is a high-performing, easy-to-use, feature-rich blockchain solution. It comprises the following features:

• Assets participants transactions
• Transaction functions
• Access control rules
• Query definitions
• Hyperledger fabric

It was an experience for ValueCoders when we developed this project, which has served both the client and ourselves. Our solution-driven approach of collaborating with the client timely ensured no communication gaps while keeping track of what changes we had made along the way to meet their needs.

If you are looking forward to developing reliable asset management and asset tracking system for your business, trust only the best software outsourcing development company. Our experts are skilled enough to prepare asset management systems for large-scale complex businesses. Here are a few benefits:?

Strategic Benefits Of Asset Management And Asset Tracking Software

The benefits of asset management and asset tracking software are immense.?

It offers a way to track, maintain, and protect assets such as cash, intellectual property, information, and inventory; companies can identify and mitigate losses while maximizing profits and cutting costs.?

For example, this software allows asset tracking to help companies make better decisions on making investments.?

It helps control assets in an environment where information is being sent over networks or during remote work.?

Here Are The Top Benefits Of Asset Management And Asset Tracking Software

Strategic Management Of Assets - The software lets you develop a strategy for the asset, which helps in future planning and budgeting. It allows you to organize your assets systematically summarizing all your investments.?

Greater Control Over Assets - With good asset management software, you can track every movement of your company’s assets. You can check if there is any damage or theft done to them. Besides that, you can even trace back where they were last used.

Reduced Costs - With proper asset management and tracking software, you will have fewer unplanned maintenance costs, since everything will be under control. These systems are so effective that companies save up to 20% on operating costs.?

Improved productivity - When you organize everything well, then productivity automatically increases. Employees will find the information faster, thus leading to better results.

More Flexibility – Finally, you will work more efficiently when using these tools as they provide great flexibility. For example, by managing your inventory via mobile apps, you can access information anytime, anywhere, at home or anywhere.

How Asset Management And Tracking Resolve Issues Related To Different Sectors?

Asset management and asset tracking software bring several strategic benefits by providing an excellent solution for businesses across sectors to manage and track their assets. Businesses can become more efficient in critical areas, such as finance, facilities management, information technology, or other operational tasks.?

The software also allows businesses to forecast future equipment needs and prevent losses or damages because of human error in handling assets.

Here’s a list of different sectors and the challenges for which they need a good Asset Management and Asset Tracking system:

Manufacturing Sector

Having solid software and database are imperative for the manufacturing sector to have a smooth flow of materials in and out of a manufacturing plant.

Asset management and asset tracking systems help supply chain managers reduce lead times and increase efficiency and overall productivity, among other benefits to the manufacturer.

Healthcare

Healthcare asset management and asset tracking software are helpful in hospitals and clinics to keep track of valuable items, such as monitors, machines, instruments, etc.?

Military

Military services use asset management and asset tracking solutions to keep track of their inventory of weapons, aircraft, vehicles, ammunition, and other assets.

Information Technology

Today, information technology organizations use and process huge amounts of data daily, and these information systems need maintenance to be in good shape.?

Corporate Sector

The corporate sector uses asset management and asset tracking software to control assets, such as office equipment and vehicles. It minimizes risks associated with assets and ensures quick access to them when required.

Property Sector

Asset management and asset tracking software help upkeep the complex network of property units that a company may own.?

Conclusion

Organizations face some common problems while scaling their business, such as retaining customers, reaching new markets, growing sales, and increasing productivity. It’s challenging to meet these demands with limited resources and insufficient capital.?

An Asset Management system can help ease some of these problems, providing the organization with benefits like lower overhead costs and increased revenue through streamlined inventory management processes. It enables you to manage the business processes better.?

Whether it’s about managing a supply chain for your new e-commerce store or putting together a custom piece of software for clients, a good system developed by an established software development company will help smooth out all the issues. At its best, it can help put you ahead of the competition in an increasingly competitive business world.?

To make the business purchases and programming projects more efficient, an exemplary asset management system makes an indispensable tool for any company, big or small. If you want to create good asset management and tracking system for your business, trust only the best for outsourcing software development or outsourcing IT services.