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Included as an ONTRAXSYS construction asset management service, ONTRAXSYS provides construction and industrial asset tracking solutions, using cutting edge technology to the value of project assets. Asset tracking has proven to be a valuable addition to the ONTRAXSYS asset management services, and help project stakeholders account for project assets such as heavy equipment, vehicles and tools.
Modern day asset tracking leverages technology-based systems which include active RFID and GPS technologies for real-time geolocating, Intelligent system software applications are assisting with asset check-in, asset check-out, and the booking of real-time asset values and documentation through the duration of a project and beyond. Asset maintenance records and warranty information are a critical part of maintaining asset value and minimizing unnecessary expenses associated with faulty record keeping. Equipment and tools that are maintained proactively can be depended upon and will not lead to unnecessary expenses associated with unforeseen equipment breakdowns and related idle equipment operator labor. Asset tracking systems housing real-time maintenance records and properly documented warranty information allow project leads to schedule timely maintenance on project assets.
Many firms are starting to realize the importance of tracking assets and tools during the construction process. Properly developed and managed asset tracking practices offer greater accountability and transparency to project owners, contractors and other project stakeholders and allow them to manage costs, utilization, maintenance and eventually asset retirement in a much more effective manner.
Tracking assets in any industry is key to saving money and adding project value through post-project completion; the larger the industry, the more substantial the savings. Particularly for construction, keeping track of equipment, tools, and supplies can lead to hundreds of thousands of dollars worth of equipment, tools and machinery being saved each year.
ONTRAXSYS asset tracking solutions have been developed to do the following:
Our asset tracking solutions have been developed to help project stakeholders track and book the value of these assets through the duration of the project. ONTRAXSYS asset tracking addresses the necessary accounting of assets purchased under the project budget, providing real time asset location as well as asset value accountability and transparency, ultimately adding to the project owner’s bottom line; it’s a win for the project owner and it’s a win for the building contractors.