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No matter what size a company is, managers must be concerned with tracking company assets. In normal accounting terminology "assets" are permanent objects used internally within the company to conduct business. Things such as computers, tools, software and office equipment are all considered assets. An employee might use tools and be responsible for them, but ultimately it belongs to the company. Therefore, companies need accurate records for tracking where assets are located. No company wants to lose their valuable assets.

Misplaced assets generally have a more serious effect on small businesses. Success in business cannot be sustained excpet by controlling costs. One of the most important procedures to control costs is to eliminate the need to replace assets. You can't possibly do this without having a system that makes sure all resources are accounted for.

With technology advancing rapidly, asset tracking software has become available that can be used by any business for tracking assets, regardless of the type of asset a company may have. A study issued in December, 2005 by ARC Advisory Group, set the worldwide market for Enterprise Asset Management at an estimated $2.2 billion, with an expected growth rate of about 5% annually, reaching $2.8 billion in 2010.

Asset tracking software allows companies to track what assets it owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset.

Constructed as an integral part of the asset tracking solutions service, the reporting option offers pre-built reports, which list assets by category and department, check-in/check-out features, net book values of each asset, those assets that are past due, audit histories, and all transactions related to each asset.

This information is all collected by one program, which can be accessed from mobile devices as well as personal computers. Companies can thus reduce their losses, maintain their equipment better, and cut overall expenses. This also allows businesses to make fewer purchases of equipment and streamline their depreciation schedules, which makes tax computation easier.

The most common assets that a company must track include office and medical equipment, training and educational materials, videos, DVDs, books, software licenses, motor vehicles, maintenance equipment, production equipment, computers, and many more.

Government departments, educational agencies, the health care industry, and many others have implemented asset tracking solutions in order to better manage products, become more efficient and save money. Assset tracking software is now available from many computer and office retailers.

The type of scanning environment dictates the type of asset tracking software used. A heavy scanning ability is for businesses with very large asset quantities. Moderate scanning ability is required by larger offices and warehouses and standard scanning is satisfactory for light duty required in most small offices.

As business management becomes more critical for businesses of all sizes, and as businesses continue to grow and become more complex, choosing the appropriate asset tracking system has never been more important.

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