The Necessity of Asset Management


Asset management is essential to today’s modern work landscape.  It is a system created to track an organization’s property, equipment, tools and vehicles. It is also allows a company to have current information on the location and maintenance needs of its assets. These and other advantages create a more efficient work environment.

A Short History

Ten years ago, a version of asset management was introduced but it wasn’t very effective. It involved placing Wi-Fi tags on every asset. These tags would send out a signal, called “chirping”, every few seconds. These signals were then collected into a local asset tracking server, which were spliced into the existing system of an organization. The tags required batteries which weren’t reliable and didn’t last very long. Hospitals and other healthcare organizations used this technology most often. but it became tiresome to carry batteries around in case one of the tags died. Another downside was the cost. For one thousand items, the price tag could be nearly $100,000.

This and other shortcomings contributed to the decline of asset management software at the beginning of the decade. Organizations are now adopting Bluetooth Low Energy (BLE), Radio Frequency Identification (RFID), and Near Field Communication (NFC). With these cloud-based systems in place, asset management technology is increasing significantly. In a 2017 report conducted by Mobile Expenses, the asset tracking market is expected to triple by 2022.

Mobile Expenses Asset Management Market Graph

The Nektar Inc. Difference

Nektar Inc. is a leading asset management solution provider. We take the time to understand your business and workflows and create a platform that best meets your needs. Using RFID and NFC technology, we find QR codes are the most efficient way to help you manage your assets. At home, work or in the field, use a phone or tablet and simply scan an asset’s QR code and access everything about that asset. Nektar Inc. provides a paperless, efficient, simple and tailor-made asset management for your team, and support when you need it. Let us help you manage your assets, so you focus on other aspects of your organization’s success.