Previously, the process for auditing was very much a specialists role – to create a validated inventory of company assets, through reference to asset alphanumeric barcodes.
An improvement to this process was found in the 1990’s using a passive RFID TAG which could be scanned at up to 1 meter in distance by a scanning device offered referred to as a gun.
Both solutions were labour intensive, and suffered from the exorbitant cost associated with manual labour.
In 2017 iottag rolled out the first automated system utilising cost effective Bluetooth technology, an out of the box solution that automates the auditing process, to complete the task in a fraction of a second (one tenth of a second to be precise) was born.
Now we can turn any regular company assets into a Smart Connected Asset. iottag forward thinking design was architected to support the unforeseen challenges of inventory management, process optimisation and asset utilisation using existing wide scale IoT networks.
Unwrapping the problem –
Let’s delve into the 3x inherent issues of unconnected assets.
Do your staff waste time searching for equipment?
Studies have found that staff can spend up to 10% of their time searching for lost equipment, this equates to five weeks per annum. The iottag solution not only makes your audit happen with the click of a button, if an item is lost, it can be found in seconds rather than hours. Reducing time wastage, asset utilisation and optimising staff time, improving their ability to manage operations day to day.
Do you have assets that are rarely used?
In any organisation, knowing which of your assets are under utiilsed is the million dollar question. We attribute such a high value to this question because of the cost of loss it can alleviate through a solution.
Knowing where and when each and every asset is located and used provides management with the vital statistics required to optimise their asset fleet commencing with those purchased and retained.
With a real-time location system in place; utilisation of assets is easy to measure and forecasting to reduce waste is obvious, through big data provided.
Do you know where your assets are and who they are with?
With many moving parts and it is difficult to control the location your assets reside and who they are used by. Compounding issues commence when company assets leave a facility especially through loss, damage or theft. The status assets can become impossible to know over the years, creating increase blindness on auditing, management and end of financial year reporting.
The solution is ATLAS – Connected assets
- View all assets on the map (equipment, tools and vehicles)
- Emergency alerts if your assets leave your site
- Learn about whether particular assets are underutilised
- Gain precise reports from automated daily audits
What is ATLAS
Assets are often lacking protection and mismanaged, this leads to compounding time loss and respective financial losses. Now you can know where your assets are in real-time. ATLAS reports location and sensory information to designated cloud portal and smart phone apps 10x times per second, so you don’t miss a beat.
ATLAS Report –
- Presence – are your assets on site or when were they last seen
- Location – where are your assets on-site or off-site
- Sensory data – temperature / acceleration
- Custodian – who is the asset with
Save & Gain Time
A medium sized business audit will accumulate up to 800 hours from commencement, being extremely time inefficient, as opposed to a Smart Assets Audit taking literally one tenth of a second and the press of a button..
*extrapolation based on 3 minutes per item and a medium company having only 4000 assets.
Save & Gain Profit
Costs to audit assets can be exorbitant, accruing up to $100,000 for a medium sized company with only 4000 assets, at this rate, an automated solution can pay itself off within one year.
* extrapolation based on time per item 3 mins, with 4,000 items, audited quarterly
How Atlas works
Simply place a Bluetooth TAG on any asset that needs to be tracked, wireless ‘gateways’ are then fitter throughout your site. These gateways receive ‘Bluetooth advertising’ — this is just a fancy way of saying they receive a signal from the tags. This signal tells the real-time location of the tag in relation to the gateway and uploads data to ATLAS system. The Gateway can be hard-wired and the TAG battery can last between three and five years.
COST OF SOLUTION
iottag provide an affordable solution for all sizes of business to suit small, medium or enterprise operations. Systems are designed to pay dividends within the first year. To ensure your profitability, as us about our ROI calculator.
Contact us to see how we can help you automate your auditing system.