What is Asset Tagging?

What is Asset Tagging?

Asset tagging is the process of labeling commercial business assets to more efficiently and accurately identify them for financial reporting, location tracking, maintenance management, and loss prevention. We are fixed asset tagging company in Kenya providing the tamper proof asset tags, aluminum asset tags and all fixed asset tagging services.

Once the initial tagging process is complete, property owners can take an inventory of the assets using a bar-code reader, producing various reports accessible by computer.

Asset Tags

Asset tags are typically labels that have an adhesive backing. Common asset tag materials are anodized aluminum. Common designs include the company logo and a border that provides contrast to the equipment. Barcodes are used on asset tags to speed data entry and to reduce field entry errors.

Aluminum Asset Tags are designed with extreme durability to withstand the harshest environments for indoor & outdoor tracking applications.

Which assets should be tagged?

For machinery and FF&E (furniture, fixtures, and equipment), companies typically choose a minimum value threshold for applying asset tagging.  Tagging is especially important for tracking mobile assets, such as laptops and tools that are issued to employees or contractors.

For inventory, asset tags can be applied to the storage location, rather than the inventory item.  As soon as an asset is purchased or an inventory item is received, it should be tagged and scanned into the system before being used, checked-out to an employee, or sold so that the company maintains consistency in reporting.

We can also perform asset verification and asset reconciliation to help you remove “ghost” assets on your asset register. Contact us today.

asset tagging

Common Uses for Asset Tags

Asset tags and asset tracking systems serve a single basic purpose: to keep tabs on your company’s valuable property, inventory and supplies. Many industries have unique needs which can be adequately met using asset identification tags.

  • Healthcare

    Precise control over medical equipment, supplies, medications and other physical assets is essential to day-to-day operations in a healthcare office. Using products like Aluminum Asset Labels, medical staff can easily track the use of assets, document specific assets and medications used for a single patient and re-order essential supplies with ease.

  • Education

    Educational institutions have a wide variety of assets which must be tracked and managed. School assets and equipment’s, for example, can be easily tracked, assigned and controlled using asset tracking labels/Aluminium asset tagging which are permanent once affixed on the asset.

  • Government

    Government entities use asset tags for everything from monitoring office equipment to maintaining a database of external assets, such as street signs, for regular repair, maintenance and future planning.

  • Churches

    In order for churches to regulate and monitor their assets they needs their asset tagged. This can be done using non removable asset labels and an asset management used to manage the assets.

  • Warehouse

    Inventory control is the driving force behind the warehouse industry. Eliminate excess stock, streamline ordering and deliveries and improve your bottom line with asset tracking.

  • Oil and Gas

    Oil and gas industries operate 24/7 and rely heavily on machinery and equipment to get the job done. Asset tags enable the tracking and scheduling of maintenance to ensure these essentials are running smoothly.

  • Utility

    Utility assets are generally exposed to harsh weather conditions, chemicals and other materials capable of wreaking havoc on stress-resistant labels. Our bar code labels have been tested to withstand these conditions, maintaining readability even after exposure to the worst external elements.

  • Telecom and cable

    The telecom and cable industries have a widespread set of external assets they’re accountable for keeping in good working order. Asset identification tags help telecom and cable companies improve efficiency in response to outages and other issues and enable proper maintenance tracking, easy part re-ordering and replacement, and improved overall functioning.

  • Manufacturing

    Much like the utility industry, manufacturers have the challenge of tracking assets after exposure to harsh conditions. Webscreations’s bar code solutions for manufacturing have been proven to last through both the manufacturing process, as well as remain functional for the life of the product.

Numerous Benefits of Asset Tagging

Perhaps the main benefit of asset labeling is the increased efficiency in fixed asset and fixed asset management software. Companies can track physical assets with a simple scanning device or automate their inventory control system.

Vital to inventory management applications, asset tagging ensures records are up-to-date and accurate. Spot-check inventory variances with ease. The software allows you to check on the status of an item and schedule product replenishment.

  • Maintain a database of fixed assets and inventory
  • Tracks movement of commercial assets or inventory
  • Improved efficiency and accuracy over traditional reconciliation methods
  • Tangible Personal Property Tax filing and tax appeals
  • Financial accounting
  • Theft deterrence and recovery
  • Preventative maintenance tracking
  • Track employee-issued company assets
  • Asset replacement scheduling

Fixed Asset Tagging Services

Asset tracking is a method for tracking either fixed or moveable physical assets, often both. Sometimes referred to as asset management, asset tracking streamlines the monitoring, managing, and allocating of physical assets through the use of barcode labels or asset tags, which are affixed to physical assets and scanned by barcode readers.

asset tagging

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Asset tagging and asset management is an accounting audit process that tracks fixed assets for the purposes of asset depreciation, asset financial accounting, asset preventive maintenance, and asset theft deterrence.

Asset tagging also helps track asset repairs, asset movement and value added on particular asset. Our Asset management solutions are tailored to automate all aspects of your asset reconciliation. This process entails physically tagging all the organization assets with an asset tag.

The most commonly used asset tag is the barcode asset tagging technology. For most assets, anodized tags are recommended because they do not ware out easily.

Managing Asset Tagging Data

Asset tracking software options are available to match the company’s data management needs. Data input for each asset can contain property identification fields such as year, type, make, model, and serial number.

Companies can make the reporting more useful for other functions by including additional inputs of whom the asset was issued to, when it is scheduled for maintenance, and the original cost.

  • Location
  • Department
  • Classification, category
  • Process line
  • Quantity
  • Type, subtype
  • Manufacturer
  • Model
  • Serial Number
  • Usage (hours, miles, cycles)
  • Who checked it out and when
  • Return due date
  • Last maintenance performed
  • Cost when purchased
  • Condition
  • Depreciation
asset tagging

When the manufacturer’s serial plate is no longer legible

Machinery and equipment appraisers often deal with reconciliation issues when serial number plates become scratched, worn, faded, or otherwise illegible. Reconciling the asset to the owner-provided asset list can be time-consuming, costing the client time and money.

Likewise, when a company experiences a management change, the knowledge of that old heap of metal goes with the last manager responsible for it. Identification tagging can store the asset’s data for years to come.

Asset ID tags come in various types to fit the needs of the company. Webscreations supplies Aluminium asset tags and Self adhesive asset tags. Be sure to order the tag that will work for your purpose, considering factors such as how frequent the property moves (damaging or scratching the tag), whether theft deterrence is an issue, and the environment in which the equipment is used (greasy, heat applications, etc).

Whether using a barcode label or QR code, be sure it integrates with the scanning device and tracking software that you’ll be using.

Benefits of Using Anodised Aluminium Asset Tags

The most widely used Barcode Tags is the ANODISED ALUMINIUM TAGS.
The high-definition print quality permits the inclusion of company logos and descriptive text on a label in single or multi-colour, even on a small label, resulting in a barcode which is attractive and ideal for scanning equipment.The durability of the anodised Aluminum surface, together with the high-quality adhesive, ensures that
a label remains legible and attached to an asset for its useful life.