The assets have always been precious for an organisation. So, whether it is a hospital, airport authority, courier service, or an eCommerce company, every organisation need an up to date technology that can help them track and manage their assets efficiently. Asset tracking software helps the organisations to streamline theirs in and out of organisation operations as well as escape any kind of physical or financial losses. But like any other technology, asset management technology is also evolving, and there are also changing trends for the same technology. In 2019, the following technologies have become the most useful ones in the field of asset tracking:

Real-time Data and Analytics: The asset tracking software lets you track the current location of the assets, like in which department it is being used or what process it is under. Thanks to the analytics, that these asset tracking softwares include into them, that are responsible for keeping up the data related to every important asset in real-time. This way, the software automatically updates the real-time location of the assets without manually entering the data into the system. The real-time data and analytics lead to the safety of the high-value assets as well as better employee productivity. With the real-time data and analytics, you can track the assets, their utilization, employee performance, and even the dispatch reliability.

Indoor Positioning and Location Sensing Technologies: The indoor positioning and location-sensing technologies are the new technologies that are becoming popular for asset tracking systems. This very technology makes the asset tracking systems capable of creating a 3D map for the objects to track. This way, the indoor location of the assets is visible on the system, and the tracking is even more accurate. The sensors play the most critical role for tracking the assets such that the readers are installed in every department inside the organisation. And with the smart algorithm, magnetic fields as well as radio signals, these readers are able to locate the exact position of the assets within the organisation.

Cloud-based Systems: Cloud is the current hot topic and is replacing the old storage methods rapidly. Most of the organisations are willing to use the cloud for their almost every operations running within. Cloud-based asset tracking systems are accurate and maintain the data at a centralised but accessible to all place. These cloud-based systems reduce the chances of data redundancy is near to impossible. With simultaneous backups, the data is always accurate and safe, as the chances of losing your data become minimal.

Mobility and BYOD: Mobile phones today are much more than a device to make phone calls or send messages. Smartphones have really become smart. So with the wireless technology used for asset tracking, the employees of an organisation can also make use of their own devices, i.e. a smartphone or their personal laptop, to track the assets. Also, there is no obligation of the place or the distance from the asset to track. The new technology is making the work convenient for the employees as they do not need a scanner to track the assets. They just require an internet-connected device like a smartphone or a laptop and the tracking software installed on it.

Blockchain: Blockchain is a distributed ledger technology which is generally used to track the transactions and carry out audits digitally. But in 2016, the same technology was also introduced to handle asset tracking. Since Blockchain provides high security and can keep large data, these are one of the best choices for managing and tracking the assets in, or out of an organisation. Blockchain creates different copies of data, and hence, all the users need to use their own private key to read the same. But at the same time, the data is immutable too, ensuring its security. The experts have discussed many benefits of Blockchain in asset management, such that there are possibilities that in the coming three-four years, the Blockchain technology is going to be the primary method of asset tracking.

Artificial Intelligence: Artificial intelligence and machine learning are one of the most innovative technologies that have been introduced to humans. Though using these technologies can be expensive, these can prove the most efficient ones to help increase productivity in an organization. In the asset management systems, these can be most useful in terms of taking care of the assets. Yes, these smart technologies help track the physical condition of assets as these can spot the issues in seconds and inform the system if the assets need maintenance.

So these are a few of the most useful trends in asset tracking and management for 2019. If you have also got an asset tracking software development project in mind that may involve any of these technologies, you can contact the expert team of Xornor Technologies for a free consultation.