Companies invest significantly into assets that are utilized specifically for business growth, some of these are revenue generating assets and others increase efficiency and business automation. Tracking of assets is integral as they are decentralized to multiple beings in multiple locations, wherein the custody of the revenue generating assets is usually beyond the last registered trade partner, floating in the market as loaner equipment. As revenue generating assets are constantly on the move mainly for the purpose of product demonstration, they carry significant economic and business value which diminishes the expected outcomes of business, given the inaccurate capture in terms of custody and state of the asset.
Thus it is essential for organizations to safeguard these assets, by tracking there custody on a regular basis, enabling control and accountability of the assets and their state, to achieve real-time updates as and when assets change hands, locations, and even physical states. Multiple such functionalities help drive higher productivity as they delegate responsibility across the workforce in a multi-tier distribution network.
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