Lost assets can cost just one company millions of dollars per year, but, luckily, instituting a loss prevention program only costs organizations a small initial investment. When tags are attached to assets, such as laptops, for instance, the proper managers can use corresponding software to quickly gain access to the history of the laptop, including its whereabouts and the information of the associates who checked it out last. Having this data is powerful for companies as it allows them to have a firmer grasp on their internal theft and asset organization plans.

Operations that have plenty of heavy-duty assets in their portfolios, such as vehicles, pricey automation elements, and portable devices galore know how steep those initial investments can be. When an asset tracking plan is implemented, the business is able to get a crystal-clear idea of the current condition of their equipment at all times, even down to the most seemingly minuscule detail. Asset tracking also allows companies to solidify maintenance scheduling, and report on any successes or issues right within their chosen, easy-to-access software system. With these automated maintenance, replacement, and warranty alerts, managers are able to save dollars for their business, just by keeping up with the appropriate safety and maintenance schedules.