Question 1

What is Asset Tracking Software?

Accepted Answer

Asset tracking software manages the physical locations and the availability of fixed assets and equipment. Asset-intensive companies use asset tracking solutions to optimize workflows for asset allocation, improve inventory management, and monitor the status of their assets. This software helps organizations locate and replace lost or missing physical assets and those that can no longer be used or have value.  
 What Types of Asset Tracking Software Exist? 
 Asset tracking tools are very similar, and there are very few variations of this type of software, the most important being: 
 Standalone or add-ons 
 Asset tracking software is provided as a standalone product or as a part of CMMS software or enterprise asset management (EAM) software. When delivered separately, asset tracking software is integrated with other asset management software. 
 Industry agnostic or vertical focused 
 While most asset tracking tools offer similar features, some of them focus on specific industries such as manufacturing or oil and gas.

Question 2

What are the Common Features of Asset Tracking Software?

Accepted Answer

Creates asset registries (or lists of assets): Asset registries (or lists of assets) are complete listings of a business or an entity's physical resources. Asset tracking software helps to list and track the date assets were purchased, calculate their value, and identify their physical locations at any given time. 
 Manages asset categories: As an asset is purchased, sold, or no longer holds any value, it needs to be correctly recorded on an organization's balance sheet and cash flow statements. This is why asset tracking software must have the ability to classify and manage different asset categories, such as fixed, current, and noncurrent. Depending on what type of asset a company has, it might be recorded as a cash inflow, outflow, or entirely written off the balance sheet if it no longer has monetary value. 
 Tracks various types of assets across multiple physical locations: Asset tracking software can track the physical movement of assets by tagging them with multiple technologies. These tagging technologies typically include RFID tags, QR codes, and barcodes. As an asset tag is scanned, its location and the user who checked it would be updated and stored in the software, which shows exactly where each asset is and has been. This feature helps management review previous asset movements for future planning and continuous improvement. 
 Includes geographic information system (GIS) technology to track assets: GIS collects and analyzes many different types of data to create visualizations using maps. These maps contain locations, routes, geographic features, and other spatial information that asset managers can use for a deeper dive into data to uncover patterns, solve problems, and make smarter decisions.

Question 3

What are the Benefits of Asset Tracking Software?

Accepted Answer

Asset tracking software provides many benefits to its users across an organization with fixed, digital, or IT assets being stored and transferred between physical locations. Some of the most important benefits are below. 
 Accurate asset registers: This software helps to maintain a detailed list of business assets, which includes relevant asset information, such as the owner, location, current condition, and warranty status. This registry allows the business to consistently know the current value, price, status, and depreciation of each asset, to name a few. 
 Reduced costs: Asset tracking software reduces costs by implementing proactive maintenance on assets that would otherwise require more significant amounts of capital if they failed in the future. This software can also monitor the status and location of assets to help prevent employee theft and automatically account for ghost assets and remove them from the general ledger (GL). This benefit helps avoid overpayment of taxes and the replacement of assets unnecessarily. 
 Improved inventory management: Asset tracking software helps automatically count inventory and automate the purchase of more goods when a low stock level is triggered. This helps to cut down on manual inventory counts, which are time consuming, expensive, and open the door to potential miscounts or inaccurate information due to human error. 
 Increased visibility: Asset tracking software gives managers and workers the visibility required to increase productivity and efficiency and reduce both property loss and search time as items move through all stages of daily operations. It also helps to locate, manage and track assets, people, and equipment worldwide. This visibility streamlines and automates workflows and processes that reduce downtime, waste while improving productivity. 
 Improved data accuracy: Data collected and analyzed through asset tracking software can help managers to make informed decisions and identify opportunities and inefficiencies in processes. This software helps with this by collecting and analyzing real-time data while keeping it contained and accessible through one central repository.

How Many Asset Tracking Software Products Does G2 Track?

Category Stats (Sep 2026)

How Does G2 Rank Asset Tracking Software Products?

G2 Grid® for Asset Tracking Software

Xemelgo

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Best Asset Tracking Software - Page 24