The Ultimate Guide to UK Asset Tracking Systems
No matter your size or industry, your assets are what make your business tick. Here's your guide to looking after them.
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The Ultimate Guide to UK Asset Tracking Systems
No matter your size or industry, your assets are what make your business tick. Here's your guide to looking after them.
No matter your size or industry, your assets are what make your business tick and are essential to your success. This includes knowing where they are at all times, what condition they are in, and when and where the right time to deploy them is. The best way to know all of this? Asset tracking systems!Â
But what is an asset tracking device? How can they benefit your business? And how do you choose the right one to meet your specific needs?Â
Well, you’re in the right place to learn all of this and more with our ultimate guide to UK asset tracking systems!Â
What is Asset Tracking?
Asset tracking is the systematic approach of monitoring and managing your business’s physical assets. This could be tools, equipment, machinery, or even the retro pinball machine you have in the breakroom. Asset management systems collect and maintain detailed information about each asset, including:
- locationÂ
- statusÂ
- conditionÂ
- ownershipÂ
- maintenance historyÂ
- usage patterns
Although we’ll discuss them in more detail later, asset tracking technologies come in all different shapes and sizes: barcodes, RFID (Radio Frequency Identification), GPS, you name it. Whichever type you choose, they’ll help you make more informed decisions, boost efficiency, and reduce losses.
What is the Difference Between Asset Tracking Software and Hardware? Â
Asset tracking systems can be broken down into two key components.Â
Hardware: This is the physical part of the asset tracking device, such as tags, scanners, and GPS receivers. These will typically be attached to your asset to monitor crucial information.Â
Software: These are the systems where you receive this information. You will install this on the device(s) of your choice, and this will become your all-in-one hub to get a 360-degree view of your assets. Modern asset tracking software can be installed on iOS, Windows, Android mobile, and tablet devices to track this data anywhere.Â
How Does Asset Tracking Work?
Asset tracking devices work in a multi-step process. First, you will tag your assets, which will vary depending on the type of system you choose. Examples include barcodes, RFID tags, GPS trackers, or Bluetooth Low Energy (BLE) beacons.Â
These tags monitor crucial information about your assets, including condition, ownership, and location. This information is then relayed to dedicated asset monitoring software on the devices of your choice. This gives you a centralised, easy-to-understand hub of data rather than a complex spreadsheet.
This way, you can monitor your assets in real-time and make better, data-informed decisions to improve your operations.
Different Types of Asset Tracking Technology
Not all asset tracking systems are created equal. Each comes with its unique benefits, and while there is no “better” system, some will be more suited to your needs than others. Below, we’ve listed 12 different types of asset management devices and given you an overview of what each one does.Â
Barcode Labels & Asset Tags
Barcode labels and asset tags are some of the most common and cost-effective asset tracking solutions on the market. You print off barcodes, similar to those you find in shops, and individually stick them to your assets. They’ll typically be made from polyester, aluminium or other durable materials and are each assigned their own unique barcode or asset number.Â
When you scan the barcode using a scanner or a mobile device app, each asset’s status, location, and maintenance history will be updated and viewable in a centralised digital database.Â
A great advantage of barcodes and asset tags is their simplicity. All you have to do is print, stick and scan, and you’ll have accurate data about each asset in no time. However, the initial set-up, which involves manually sticking each barcode on each item and physically scanning each code to access the information, may make them unsuitable for high-volume or hard-to-reach assets.
QR Codes
QR codes are all the rage these days.Â
Ordering a pint? Scan a QR code.Â
Connect to public WiFi? Scan a QR code.
Track and manage your business assets? Just scan a QR code.Â
These are two-dimensional barcodes that can hold more information than the one-dimensional barcodes mentioned in the previous point. Like their one-dimensional counterparts, they are printed on assets and can be easily scanned using smartphones or barcode readers, making them a quick way to access information.Â
They’re durable, easy to generate, and can be scanned from multiple angles. They can also hold more information, such as URLs, maintenance records, or user manuals, directly on the tag. You are, however, still bound by the time-consuming process of individually fitting these to each asset.
RFID (Radio Frequency Identification) Tags
RFID tags use radio waves to identify and track tagged assets. There are two primary types:Â
Passive RFID: These are powered by the signal directly from the reader and are perfect for inventory and presence detection.Â
Active RFID: These systems have their own, independent power source, allowing them to broadcast signals for real-time tracking over larger distances.
Unlike the previous two types, which require you to physically scan the barcodes, RFID scanners don’t have this problem. Because they use radio waves, you just have to be in the general vicinity of the tags, making them perfect for larger-scale operations, like warehouses, hospitals, and logistics operations.Â
Yes, they reduce the manual labour needed compared to the other two and increase accuracy. But these benefits will come at a cost, as you’ll need to invest in RFID readers and infrastructure.
GPS (Global Positioning System) Trackers
If you’re old enough, you may remember when GPS systems were extremely popular in personal cars. You could even download voices for it, like Yoda from Star Wars, which at first was hilarious, but very quickly became tedious on your 4-hour drive. They’re also an effective way to track your business assets.Â
GPS trackers use satellite signals to provide real-time, highly accurate location data for assets, especially those that are mobile or spread across large geographic areas. Because of this, they’re typically used for fleet management, logistics, agriculture, and tracking high-value equipment. They allow you to monitor movement, prevent theft, and find the quickest route for deliveries.
IoT (Internet of Things) Sensors
The Internet of Things is just a fancy schmancy way of saying that a bunch of different smart devices are connected to each other. But when it comes to asset tracking, IoT sensors are embedded into your assets to collect and transmit data about their location, condition, and environment.Â
These sensors then use the internet to send real-time updates to a central system. They can come with automated monitoring alerts if they fail to meet specific criteria, such as temperature, humidity, or movement.
IoT-based asset tracking is especially useful for sensitive or perishable goods like food or pharmaceuticals and for automating inventory management and maintenance schedules. This type of technology’s accuracy helps reduce manual errors, supports predictive maintenance, and provides valuable insights for optimising processes.Â
Bluetooth Low Energy (BLE) Beacons
BLE beacons are small, battery-powered devices that send Bluetooth signals detectable by nearby BLE-enabled technology, such as mobile devices or dedicated receivers. Typically, these are attached to assets, allowing for proximity-based tracking within facilities. A significant advantage of BLE tech is its low power consumption, precise location tracking and the ability to scale so it can grow with your operations.Â
BLE systems are great for warehouses, hospitals, job sites, and offices. You can even receive alerts if these assets break a designated perimeter (known as geofencing), giving an extra level of security and peace of mind.
Real-Time Location Systems (RTLS)
RTLS are advanced systems that use a combination of technologies—such as RFID, GPS, Wi-Fi, BLE, and sensors—to continuously monitor and display the real-time location of assets within your facility or across multiple locations. RTLS tags are attached to your assets, and strategically placed readers around your facility or sensors pick up their signals.Â
This data is then transmitted to a centralised dashboard, giving you a visual representation of maps, alerts, and analytics in real-time. Although these are highly beneficial systems, there are a few drawbacks. Most notably, the complex installation process, potentially upgrading infrastructure, and physical objects like walls impact the accuracy.
Ultra-Wideband (UWB)
UWB is a short-range wireless technology offering pinpoint accuracy, often within a 30-centimetre radius. UWB tags transmit signals over a wide frequency range, and their position is calculated using time difference of arrival (TDoA). Which is just a complex way of saying how long it takes for the signal to arrive.Â
Their accuracy and real-time tracking abilities make them favourites among industries like industrial sites and healthcare. This sounds great on paper, but like most things in life, you get what you pay for, and UWB doesn’t come cheap.
WiFi Asset Tracking
Chances are, you have Wi-Fi at your premises, so why not use it to help with your asset management? Wi-Fi-based asset tracking uses (you guessed it) Wi-Fi to communicate with tags or devices and estimates the location of the asset based on the signal strength.Â
It’s a cost-effective way to track your assets, especially if a strong Wi-Fi infrastructure is already in place, but its accuracy is typically lower than BLE or UWB, and network congestion and outages can severely reduce its effectiveness.
Cellular Networks (2G, 3G, 4G, 5G)
Despite what that video you watched on YouTube from the channel TheLizardPeopleLiveInMyWalls says, 5G isn’t a cosmic weapon that makes you more obedient to the Illuminati. It’s actually just the latest version of mobile network technology—less interesting, yes, but far more beneficial for asset tracking.Â
Cellular tracking uses mobile networks to locate and transmit data from asset tracking devices to your centralised hub. If you operate in an area with low mobile coverage, you’ll struggle to get the most out of these systems. The extra strain on your data plans may also put a dent in your budget.
LoRaWAN (Long Range Wide Area Network)
LoRaWAN is a low-power, long-range wireless protocol used for tracking assets over large areas, both indoors and outdoors. This makes it great for remote monitoring individual vehicles, fleets, and machinery. Often, it’s combined with a GPS to complement location tracking.
Known for power efficiency and its ability to cover large-scale areas with minimal infrastructure, LoRaWAN is perfect for far-reaching deployment.
Sigfox
Sigfox is another low-power wide-area network (LPWAN) technology, known for its very low data rates and ultra-low power consumption. It is used for basic tracking and status updates over long distances, especially where only small amounts of data need to be transmitted. Sigfox is best for ultra-low-power applications and simple asset tracking scenarios, such as monitoring stationary assets or sending periodic status updates.
Benefits of Asset Tracking
Reduces Loss, Theft, and Misplacement
You will benefit from an extra level of security because you have location monitoring, sometimes in real-time, devices attached to your assets. They can significantly reduce the risk of loss, theft and misplacement, meaning you get the maximum return on your investment and won’t drain your budget on expensive replacements.Â
Some systems will come with geofencing features. These allow you to set up a virtual perimeter and receive automated warnings if your asset leaves this designated area. If you don’t stop the theft in time, you can track the location in real time and send it to the police for swift resolution.Â
Other systems have a feature where users sign in and out of assets. So if someone on a job site really needed a particular tool, they would virtually sign out the tool and then sign it back in when they’re done with it. This accountability reduces the chance of theft or misplacement and leaves a digital paper trail for the assets being misused or damaged, eliminating any “he-said-she-said.”
Improves Asset Utilisation and Efficiency
Knowing exactly where your assets are and how they’re being used is the perfect way to optimise resource deployment and streamline your operations. Managers can identify any underutilised equipment and redirect it to teams or individuals where it will be put to good use. This helps avoid unnecessary purchases of extra tools/equipment and reduces idle time, requiring more frequent maintenance.Â
This is an absolute godsend if you’re working on a large-scale or multiple projects at once. Sending the right assets to the right people at the right times will go a long way in keeping your operations on track and avoiding costly delays.Â
Tracking usage patterns can also help with forecasting. You’ll be able to understand demand and proactively and strategically plan asset allocation, leading to smoother operations and a more productive workforce.
Saves Time and Labour
They say time is money, and using an asset tracking system can help you save both. Traditionally, when it comes to tracking your assets, you’ll have to manually go through and do inventory checks, paperwork and waste time looking for items that have gone walkabout. Get yourself an asset management system, and that’s all a thing of the past.
You can automate these mundane and time-consuming processes and get instant access to accurate information through digital platforms. You and your staff can now use the countless hours saved to focus on higher-value tasks. It also helps reduce labour costs, accelerates workflows and reduces costly errors when taking inventory.
Enables Proactive Maintenance
“A stitch in time saves nine,” and never has that been more true than when it comes to your assets. Proactive maintenance, be it on your vehicles, equipment, or tools, is much quicker and cheaper than paying for repairs or replacing them altogether. It also helps to avoid unnecessary downtime, which can severely damage your operations, customer satisfaction, and reputation.
Asset tracking gives you a deeper insight into your equipment by monitoring and assessing conditions and usage patterns. This makes your preventive maintenance much more targeted and unique to each asset, instead of relying on a one-size-fits-all maintenance interval. This way, you can stay ahead of the curve and keep your projects on track no matter what.
Enables Proactive Maintenance
One of the core benefits of asset tracking is the ability to access real-time, accurate data on your asset location and status. This continuous flow of accurate data allows you to make decisions on the fly, but removes all guesswork by presenting you with cold, hard data. Whether you need to reallocate resources or identify bottlenecks, whatever your decision, you’ll know it’s the right one.Â
The precision of this data reduces shots in the dark and boosts transparency across departments, allowing for better communication and coordination. Real-time tracking supports dynamic environments such as logistics or construction, where assets are moved regularly and at speed, ensuring that information is always current and reliable.Â
Supports Regulatory Compliance and Reporting
No matter what industry you operate in, you will have legal and regulatory guidelines you need to adhere to. Failing to meet these is a one-way ticket to hefty fines and potentially irreversible reputation damage. Luckily, asset tracking devices help to keep your business on the right side of these complex but critical regulations.
They simplify this process by automatically recording detailed histories of asset usage, maintenance, and location. This leaves a digital footprint–all information is easily accessible with just the push of a button–that can be used as evidence should regulatory bodies come knocking. Some asset tracking systems may cost you a pretty penny, but can you really put a price on this level of peace of mind?Â
Enhances Accountability
Assigning responsibility for assets and tracking their movements will foster a culture of accountability within your business. No more people putting back tools half-charged, or casually misplacing items. Every movement and usage event is now logged, making it easy to identify who last handled an asset and when.
This transparency discourages negligence, misuse, and unauthorised borrowing, as your team knows their actions are being recorded. It also makes any internal investigations so much easier if issues arise, allowing for faster resolution times and reduced losses.Â
Improves Budgeting and Planning
Asset tracking systems gather so much information that you now have the secrets to success at your fingertips. Analysing data like asset utilisation rates, maintenance costs, and lifecycle trends can help you to identify opportunities for cost savings and efficiency improvements. This can help to avoid overpurchasing on stock or identifying underutilised equipment.
An accurate forecast based on actual, real-world patterns supports your decisions when it comes to better budget allocation. With a much clearer picture of your asset usage, performance and needs, you can align your strategy with actual demands, allowing for a smoother workflow.
Some insurance companies will even reduce your premiums if you’re using asset tracking devices.
Businesses That Can Benefit From Asset Tracking
Transportation & Logistics
If you operate within the logistics and transportation industry, asset tracking systems can help you digitise the management of your fleet, containers, trailers, and pallets. They offer real-time visibility of localised equipment as well as equipment spanning wider distances between sites and across borders. This prevents costly misplacement, reduces storage fees at ports, and ensures timely pickups.Â
You can also sleep soundly at night knowing you now benefit from an extra level of protection. Geofencing features alert you if your vehicles or equipment break a digital perimeter in the event of a theft or a midnight joyride from a member of your staff.Â
GPS systems can also help you plan the best route for your vehicles, ensuring you get the most bang for your buck every time you visit the pump.Â
Construction
The secret to a productive construction site is knowing where and when to use your equipment. Real-time data means your machinery is always available and allocated efficiently, reducing project delays and costly downtime. Geofencing features act as a deterrent against theft, misuse, or vandalism and allow for a quick recovery if this equipment goes missing.Â
Enabling sign-in and sign-out features increases tool accountability. This creates a digital paper trail to find the culprit if something is damaged, misused, or lost without being reported.Â
Manufacturing
Manufacturing sites can benefit from complete visibility of inventory and equipment. This allows you to quickly understand and manage stock control, reduce overstocking, and ensure that critical tools are always available for production. Some devices will also support you with proactive maintenance, which can help your equipment avoid unplanned downtime and maximise its lifespans–and, in turn, your investment.
Systems can also streamline audits, reduce time spent searching for missing tools, and create a smoother and more productive workplace.Â
Healthcare
Operating within the healthcare industry, you already have a lot of regulations to follow. Make things easier with an asset tracking system. These systems can help prevent the loss and mismanagement of medical equipment, which can positively impact your budget.
IoT systems can monitor temperature, which is essential if you’re storing and transporting certain pharmaceuticals. Real-time tracking also ensures that critical devices are available when needed, supports timely maintenance, and extends equipment lifespan. This not only reduces wasting money on avoidable repairs and replacements, but also improves patient care.
Facilities Management
In facilities management, asset tracking automates all of your inventory management and maintenance scheduling. Reclaim all of those wasted hours doing tedious stock takes and put them to better use focusing on more productive, high-value tasks. It also helps to reduce human error, increasing accuracy and saving even more time, not having to go back and correct those mistakes.
You can maintain accurate records, schedule preventative maintenance, and quickly locate equipment, enhancing operational reliability. The insights provided from this data also support better decision-making and cost control.
Agriculture
If you run a farm or an agricultural business, then asset tracking is perfect for you. You can secure valuable machinery spread across large areas. Real-time tracking and geofencing prevent theft, and if the thieves get away, you can provide their location to the police, offering a quick recovery of stolen equipment.
Monitoring usage patterns helps you optimise equipment deployment and maintenance, reducing downtime and operational costs. Detailed reporting can help with strategic planning and compliance with industry standards. Using efficient route planning technology lowers fuel consumption and will do your budget wonders when these savings quickly add up.
Hospitality
Whether you run a hotel, resort, or event venue, asset tracking helps you manage everything from linens and catering equipment to high-value electronics and furnishings. Automating inventory control reduces the risk of loss, theft, or double orders and ensures items are exactly where they should be when needed.Â
Smart tagging also streamlines maintenance schedules for equipment like fridges and coffee machines. This way, you’ll never be like a certain fast-food restaurant where the ice cream machine is always down, instead providing the best experience possible to all your guests.Â
Smoother operations, happier patrons, and a healthier budget–what’s not to like?
Offices
Office environments can suffer from the same problems as other workplaces—missing monitors, forgotten printers, and that one remote for the TVs in the main board room that nobody can ever seem to find. With asset tracking, you can digitise your inventory, tag equipment for visibility, and keep everything organised from one central dashboard.Â
Scheduled servicing keeps assets running smoothly, while check-in/check-out functionality improves accountability for shared resources. This means less time chasing equipment, lower replacement costs, and a more productive team who have what they need when they need it.
How to Choose the Right Asset Tracking Solution For Your Business
Define Your Accuracy and Speed Requirements
How accurate and fast does your asset tracking need to be? Are you monitoring a large warehouse inventory or a fleet of vehicles spanning the country? Finding a solution that matches your need for location accuracy and real-time reporting is the first step to choosing the right system for you.
This way, you can weed out systems that don’t offer what you need in real-world situations. It also helps you avoid overpaying for more complex systems that may come with a bunch of features you don’t actually need. Of course, the reverse is true: You don’t want to invest time setting up a system that isn’t fit for purpose, and you have to go through the entire process all over again.
Match Features to Meet Your Needs
What do you actually want your system to do? Make a checklist of must-haves: real-time location tracking, geofencing, alerting, mobile support, preventative maintenance reminders, automated reporting, whatever you need. Then, use this list to align those needs with the right provider for you.
Choose a Solution That Can Scale With Your Business
Think long term and find a system that meets your needs today and those in 5 years’ time. It’s all well and good if it works now, but if you can’t scale it with your business, then it’s going to quickly become redundant. Find a provider that supports adding new assets, users, and locations without disrupting your daily operations.
Opting for a flexible infrastructure ensures you can update and expand your solution as your organisation grows, without needing to start from scratch.
Ensure It Integrates With Your Current Systems
Avoid data silos by selecting a solution that syncs with your current tools. Some can integrate with inventory software, cloud systems, ERPs, or mobile apps. Look for strong API support and real-time data exchange capabilities to improve workflow efficiency and benefit from a centralised view of asset data.
Pick a User-Friendly and Easy-to-Deploy Platform
Even the best asset tracking system on the market, with all the bells and whistles, is worthless if your team can’t use it. Find a system that has an easy-to-navigate interface, quick onboarding, and responsive (and ideally dedicated) support. The easier it is to get your team to buy in and use the system, the more your business will get out of it.
Secure Your Data and Meet Industry Compliance
If you store customer information, you’re bound by GDPR laws to keep it safe. Serious breaches of this data can result in fines of up to £17.5 million or 4% of your annual worldwide turnover, whichever is higher. Do not take this matter lightly.
Find a system that protects sensitive data with features such as end-to-end encryption, role-based access, and secure cloud backups.
Evaluate Environmental and Infrastructure Compatibility
Your building’s layout and the environment you operate in will affect the quality of your system. GPS systems, for example, won’t be useful for indoor or underground operations, while concrete walls can lower the signal strength of other systems.
Calculate the True Cost
Upfront costs are just the tip of the iceberg when it comes to asset tracking costs. Look at potential long-term or recurring costs like
- Installation
- Infrastructure changes
- Hardware upgrades
- Software upgrades
- Support
- Battery replacement
- Repair/replacement costs
Once you’ve assessed all of these, you’ll understand the true cost of ownership. And this really should go without saying, but make sure you can afford it.
Always Check Reviews and Provider Reputation
Always look at customer feedback before committing. Check out sites like Trustpilot, Google Reviews, and industry forums to see what real-world customers are saying about the providers and their systems.
One or two bad reviews are to be expected–people love to whinge–but if you see the same thing popping up time and time again, then you should pay attention to this.
How Can I Get Asset Tracking For My Business?
Running a business is hard, but finding the best asset tracking system for your business doesn’t have to be. At Commercial Experts, we’ve made it our mission to help UK businesses like yours find the best asset management system for their business, and we’d love for you to be our next success story.Â
All you have to do is tap the button below and answer a few questions about your business. Then, based on your responses, you will receive a range of quotes tailored to meet your specific needs.Â
All quotes are 100% free and non-committal, so what are you waiting for? Tap the button below and get comparing now!Â
FAQs
What is asset tracking?
Asset tracking systems monitor the location, usage, and condition of physical assets like equipment or vehicles. It helps businesses reduce losses, improve efficiency, and manage maintenance.
What is RFID asset tracking?
Radio-frequency identification (RFID) asset tracking devices use radio-frequency tags to wirelessly monitor assets. They enable faster, real-time tracking with greater accuracy and less manual input than traditional methods.
How does asset tracking work?
Assets are tagged with barcodes, RFID chips, or other tracking hardware. These are scanned and tracked using dedicated software that can be read on multiple devices–including mobile phones–providing real-time location, usage, and status updates to improve control and efficiency.
What is the difference between inventory and asset tracking?
Inventory tracking manages items for sale or consumption, while asset tracking monitors reusable business tools and equipment. Assets are long-term resources; inventory is typically sold, used, or replaced regularly.
How can I get asset tracking?
Just tap the button on this page and answer a few questions about your business. Then, based on your responses, you’ll receive a range of free, no-obligation quotes tailored to your specific needs, making it easy to compare and choose the right asset tracking system for your business.
