Over time many businesses accumulate a lot of capital equipment, much of it high value. IT Equipment, health and safety assets, tools, instrumentation, specialist machines, lifting equipment and so on.
These assets represent significant investment and should be accounted for in an up-to-date asset register. But keeping track can be a big task and is often neglected, save for a time consuming obligatory annual audit.
Customers approach us because they know they are over-purchasing equipment they already own, but don’t know where it is. Assets are not properly maintained, and utilisation is poor. Our anecdotal client feedback suggests over-stocking by 30% is typical. It’s not unusual for businesses to admit that their asset inventory accuracy is running at less than 50%. Where asset registers run into millions of pounds it is a serious problem, but with the right solution the resulting savings to the business can be huge.
Codegate’s Lime software is the result of years of experience helping big companies improve their asset management. It is built to work with the latest automatic data collection technologies like Bluetooth Low Energy (BLE), passive UHF RFID, Ultra-wideband (UWB) and GPS with cellular or LoRa backhaul, meaning assets can be tracked in real time without the need for human intervention. Using Lime, people know where to find equipment when they need it, they know it has been properly maintained, and they are accountable for it. Utilisation improves significantly and the asset register is up-to-date. With a potential 30% saving in the size of the asset register and reduced over-purchasing our clients can typically see a return on investment within 12 months.
Example tracking using both BLE and GPS with cellular backhaul