Tracking your fixed assets is essential—they power your operations and drive revenue.
But relying on outdated tools like spreadsheets?
That’s a drain on time, energy, and money.
Since you’re here, you’re likely aware there’s a much better solution: fixed asset tracking software.
But with so many options on the market, how do you pick the right one?
The answer lies in knowing what features matter most.
In this article, we’ll break down the key factors to consider so you can pick the perfect software for your business.
Let’s get into it.
In this article...
User-Friendliness
No matter how good the software is, how advanced its features are, or how well it performs on paper, it’s practically useless if your team refuses or avoids using it.
That’s why user-friendliness should be at the top of your checklist when choosing fixed asset tracking software.
In industries like construction, where many employees may not be tech-savvy, this is even more important.
In fact, the 2021 Construction Technology Report by JBKnowledge found that 35.4% of construction companies cited employee hesitance as the biggest barrier to adopting new technology.
That’s over a third of the industry!
Pretty staggering, right?
This highlights how crucial it is to reduce barriers to adoption.
User-friendly software simplifies learning and operation for your entire team, regardless of their technical skills.
This means:
- faster adoption – no need for endless training sessions,
- higher productivity – less time wasted on figuring things out.,
- reduced resistance – teams are more likely to embrace it,
- less stress – both for you and your employees.
But, what makes software user-friendly?
Let’s break it down.
| Core Component | What It Means | Why It Matters |
|---|---|---|
| Clean, well-organized layout | An uncluttered interface with intuitive workflows. | Helps users quickly find what they need, reducing frustration and saving time. |
| Clear instructions | Tooltips, guides, tutorials, and walkthroughs. | Speeds up onboarding and ensures usability even for non-tech-savvy employees. |
| Responsive customer support | Fast and helpful support through chat, email, or phone. | Ensures problems are resolved quickly, preventing delays and maintaining productivity. |
One fixed asset tracking software that ticks all these boxes? GoCodes.
Designed with user-friendliness in mind, GoCodes eliminates the steep learning curve.
Its intuitive interface allows even non-tech-savvy employees to get started quickly.
Take a look at the asset list:
Notice the simple layout?
The assets you need are easy to find, and there’s no clutter to slow you down.
Here’s an example of how straightforward working with the list is:
By choosing user-friendly software like GoCodes, you ensure faster adoption, effective usage, and a smoother transition for your team—all without the typical headaches.
Cloud-Based Access
When choosing fixed asset tracking software, a critical decision is often overlooked: should it be cloud-based or on-premise?
This decision often gets brushed aside because it might not seem like a big deal at first.
But it is.
In fact, it’s a huge deal.
As the graphic below highlights, cloud-based access is far more cost-effective and offers several additional advantages.
With on-premise software, everything is stored and managed on local servers or devices.
This means you need to invest in IT infrastructure, maintain physical hardware, update systems regularly, and deal with security risks on your own.
Plus, remote work is off the table as, to access your system, you have to be at the office or connected to the local internal network.
Worse, if your hardware fails, your software becomes inaccessible.
In contrast, cloud-based software stores data on secure, remote servers, providing access to asset data anytime, anywhere, from any internet-connected device.
This difference alone opens the door to major benefits:
| Benefit | Description |
|---|---|
| Flexibility | Access asset data from any device with an internet connection, whether in the office or on-site. |
| Real-Time Updates | All changes are instantly available across devices. |
| Lower Costs | No need for costly hardware or IT maintenance. |
| Automatic Updates | Ensure you’re always using the latest version without lifting a finger. |
| Enhanced Collaboration | Simplifies data sharing and updates among teams in different locations. |
| Disaster Recovery | Protects your data, even if hardware fails. |
These advantages are why we’ve built GoCodes as a fully cloud-based solution.
With GoCodes, you can track assets from anywhere, anytime, using any device, and always have up-to-date information on their location, condition, and usage.
Whether through the web platform or mobile app, all your asset information is just a click away.
Multiple Asset Tracking Capabilities
Not all fixed asset tracking software offers the same capabilities.
Some only use QR codes, others focus solely on GPS tracking, and a few stick to RFID.
But, the best software, the kind you want to choose, should offer all of the essential tracking technologies in one package.
Why?
Because that’s the only way to ensure ‘proper tracking’.
In this context, proper tracking means knowing exactly where your assets are, what condition they are in, and how they’re being used.
Only by integrating these elements can you realize the full benefits of asset tracking:
- reduced risk of loss, theft, or misallocation,
- prevention of underutilization or overuse,
- better-informed decisions, such as reallocating assets as needed or scheduling preventive maintenance.
To achieve this level of accuracy and insight, software must offer multiple tracking capabilities working together seamlessly.
That’s why we designed GoCodes to include all the essential tracking technologies: GPS, RFID, QR codes, and Bluetooth beacons.
Each technology has a unique purpose, giving you the tools you need for complete and reliable asset tracking.
For example, our GPS trackers allow you to monitor the real-time location of vehicles, machinery, or high-value items.
Real-time GPS tracking ensures that you always know where your most valuable assets are, even across large worksites or during transportation.
RFID tags, on the other hand, enable the scanning of multiple assets simultaneously without needing a direct line of sight.
This makes them ideal for bulk scanning, helping you check and count assets faster.
Here’s how they work:
Then, we have QR codes, one of the most widely used tracking technologies.
By simply scanning a QR code with your phone, you can check assets in and out and instantly access details about their condition, usage, and history.
And lastly, Bluetooth beacons provide another layer of convenience, offering proximity-based tracking for tools or equipment within a specific range.
This makes it easy to locate smaller assets quickly, especially in large facilities or warehouses.
So, when looking for fixed asset tracking software, don’t settle for tools that only do half the job.
Consider ones that cover all the bases, because the better you track your assets, the better your bottom line looks.
Asset Lifecycle Management
Asset lifecycle management is essential for keeping your operations running smoothly and profitably.
It involves tracking every stage of an asset’s lifecycle—from acquisition to disposal—to understand its usage, cost, and performance over time.
Why is this important?
Because this level of insight helps you maximize the value of your investments and avoid unnecessary expenses that erode profits.
Now, one crucial part of asset lifecycle management is asset depreciation and cost analysis.
Depreciation measures how an asset loses value over time.
And no, depreciation isn’t just an accounting term.
It’s a key to making smarter decisions about when to repair, replace, or retire an asset.
For instance, tracking depreciation helps you determine whether maintenance costs are worth it or if replacing the asset is a smarter move.
It also ensures compliance with accounting standards and tax regulations by keeping your financial records accurate.
Cost analysis goes hand-in-hand with depreciation.
Beyond the purchase price, it accounts for maintenance, repairs, and downtime—giving you a comprehensive picture of the total cost of ownership for each asset.
So, when selecting fixed asset tracking software, look for solutions that streamline depreciation and cost analysis—like GoCodes.
As you tag, record, and update asset information, GoCodes automatically creates an accurate report, noting the time, person, and details of each change.
This ensures transparent and secure records, simplifying audits and financial reporting.
GoCodes also provides built-in depreciation calculations.
By using data like purchase cost, acquisition date, and asset lifespan, the software calculates depreciation using the most common IRS MACRS schemes.
Here’s a list of deprecation calculations GoCodes offers:
And you don’t need to be an expert to use this feature, as GoCodes offers a variety of pre-built reports that you can run with a single click.
These reports are exportable and compatible with Microsoft Excel, and all calculations are in line with US IRS publication 946 conventions.
This means they can be used for financial statements and tax return filings.
By automating lifecycle management processes, you’re empowered to make informed decisions about your assets—saving time and ensuring profitability.
Customizable Reporting Capabilities
One size definitely doesn’t fit all when it comes to fixed asset tracking.
Every company has unique needs and priorities—especially in industries like construction, where assets vary widely in size, purpose, and value.
That’s why having customizable reporting capabilities is essential when choosing fixed asset tracking software.
Customizable reporting allows you to generate tailored reports that match your specific needs.
Instead of sifting through irrelevant data, you can focus on the exact insights required to analyze asset performance, costs, and utilization effectively.
This precision is crucial for tracking KPIs and making informed decisions that improve efficiency and financial outcomes.
But the right software doesn’t just generate reports—it also provides the flexibility to export them in formats that suit your workflow.
Whether you’re presenting to stakeholders, filing tax documents, or preparing for internal audits, flexible export options ensure your reports are ready for any purpose.
Recognizing the need for customizability and flexibility, GoCodes offers robust enterprise reporting tools that simplify generating and sharing reports.
With GoCodes’ Enterprise Reporting, you can easily create and save custom reports using a simple drag-and-drop designer.
You can also build charts and dashboards to visualize key data—ideal for presenting insights to your team.
Here’s a quick Enterprise reporting overview:
Reports, dashboards, and charts can be exported in formats like Excel, PDF, CSV, or as dynamic web URLs with automatically updated data.
For added convenience, GoCodes lets you schedule reports to be created and emailed automatically.
Whether it’s weekly updates for your team or monthly summaries for leadership, these features help keep your operations running smoothly.
Scalability
As your company grows, your asset tracking needs will grow too.
You’ll add more assets, users, and projects, and your software should handle this growth without slowing down or requiring costly upgrades.
That’s why scalability is another critical factor when choosing fixed asset tracking software.
Look for a solution that can:
- handle increasing data volumes as you add assets and records
- allow multiple users to access and manage assets simultaneously,
- integrate with your other key systems, like accounting or project management tools.
Software that checks these boxes provides long-term value, saving you the time, money, and hassle of switching platforms as your business grows.
At GoCodes, scalability is built into our plans.
Whether managing hundreds or thousands of assets, you can choose a plan that grows with your needs, with features like GPS tracking, offline access, and advanced reporting.
And the best part?
Upgrading your plan is simple.
GoCodes makes it easy to scale up as your business grows, so you’re never stuck with a system that can’t keep up.
You retain all your data, and additional features are instantly available.
Conclusion
Now you know exactly what to look for in fixed asset tracking software.
The features we outlined, from user-friendliness to scalability, ensure your software can grow with your business and support smarter financial decisions.
So, as you evaluate your options, keep these in mind, and choose a solution that sets your business up for long-term success.
