Asset tracking enables companies to identify their assets, know where they are located and document transfers between sites, departments and users. The information collected, such as serial numbers, assignments and device status, helps keep inventories up to date and supports periodic checks. In IT, traceability is particularly important for IT asset audits and hardware estate management, from device deployment through replacement or retirement.
What Is Asset Tracking?
Asset tracking covers the activities through which a company identifies its assets and records their location, assignment, condition and movements over time. An up-to-date inventory shows which assets are present, where they were last recorded and to whom they are assigned. Tracking can take place during deliveries, transfers and maintenance activities or, with dedicated technologies, through more frequent automated readings.
Tracking is one part of asset management, a broader discipline that also covers purchasing, maintenance, costs and retirement. Asset tracking focuses on the information needed to identify and locate assets and document their movements. These records help companies decide which devices to reassign, replace or collect, rather than relying solely on outdated lists.
How Asset Tracking Works
Asset tracking begins with identifying an asset and creating its record. The information is then updated whenever the device changes location, assigned user or status. Depending on the asset type and how often it moves, the process may involve manual records, label scanning or automated detection. The main steps are:
- assigning a unique identifier and creating the initial asset record;
- applying a barcode, QR code or RFID tag where appropriate;
- recording deliveries, transfers, technical interventions and returns;
- updating the inventory with location, assignment, status and event date.
For a small number of assets that rarely move, manual records may be sufficient. Where many devices are involved or assets are spread across multiple sites, code scanning can speed up data collection, while automated systems address the need for more frequent readings. The choice depends on asset movements, information requirements and infrastructure costs.
Asset Identification and Inventory Creation
Each asset is associated with a unique identifier, such as the manufacturer’s serial number or an internal code. This reference connects the physical asset to its record and makes it possible to distinguish between devices of the same model. The record contains the information needed for tracking:
- asset type, brand and model;
- serial number or internal identifier;
- recorded location, such as site, building or department;
- assigned user or responsible department, where relevant;
- asset condition and date of the latest check.
The initial asset survey provides the foundation for the inventory. When records contain consistent identifiers and comparable information, subsequent updates are easier to manage, and discrepancies between the register and the assets physically present can be identified during periodic checks.
Asset Tracking Technologies: QR Codes, RFID and GPS
Different tracking technologies serve different needs. Barcodes and QR codes identify an asset when scanned; RFID systems read tags using radio waves, without requiring a direct line of sight. GPS and Bluetooth Low Energy can support automated location or proximity detection, depending on the infrastructure in use.
| Technology | Information captured | Data capture method | Typical use |
|---|---|---|---|
| Barcodes and QR codes | Asset identifier | Scanning with a reader or smartphone | Inventories and manually recorded handovers |
| RFID | Identifier transmitted by radio | Fixed or handheld readers | Warehouses and reading multiple assets |
| GPS | Geographic location | Satellite receiver and data transmission system | Mobile assets outdoors and transportation |
| Bluetooth Low Energy | Proximity or estimated position | Beacons and receivers in covered areas | Location tracking within buildings and departments |
Passive RFID tags receive power from the reader, while active devices use their own power supply. GPS and Bluetooth systems require suitable components and coverage to send or capture location readings. A QR code or RFID scan does not, by itself, provide continuous asset location tracking: it records a reading at a particular place and time. The choice of technology therefore depends on the level of detail a company needs.
Recording Asset Movements and Updating Data
When an asset changes site, department or assigned user, recording the event updates its record. Depending on the information available, the history may include the date, origin, destination and person responsible for the handover. A centralised register makes it possible to consult the latest data and reconstruct documented movements.
Periodic checks compare the inventory against the assets physically present and flag any discrepancies. When records are current, reports help companies see how assets are distributed across sites, identify unassigned devices and reconstruct transfers. However, the results depend on the quality of the information entered: an unrecorded movement will not appear in the history.
Benefits of Asset Tracking for Businesses
Asset tracking improves visibility into equipment already available and helps companies check its last recorded location before arranging a transfer or making a new purchase. Unique identification and assignment histories reduce the risk of inventory errors and make devices easier to locate. Audits can also draw on structured information instead of having to rebuild asset lists from scratch.
These benefits depend on how current the data is and how assets are detected. Labels, readers and initial inventory work involve upfront costs, while automated systems also require suitable infrastructure. An outdated inventory may show incorrect locations or assignments, and incomplete coverage may leave some events undetected. The frequency of checks is therefore determined by asset movement patterns and how critical the equipment is.
Tracking Corporate IT Assets
Within a company’s IT estate, asset tracking covers laptops, desktops, workstations, servers, storage systems and other equipment distributed across sites and users. At MGK Tech, we provide IT asset audit and inventory services: together with the client, we define which equipment needs checking, identify the devices and collect the technical information required for the project, including when the IT estate spans multiple locations.
During the inventory, we record the agreed information according to the type of equipment. The data we can collect includes:
- device brand, model and serial number;
- hardware configuration, such as processor, memory and storage, where required;
- site and other location information available for the project;
- technical condition and check results, if included in the scope of work.
If the client already has an inventory, we can use it as a starting point to verify, update or complete the records. At the end of the project, we organise the information collected into a report or final inventory with the agreed level of detail. This work also provides documentation to support security checks: control 5.9 of ISO/IEC 27002:2022 addresses the inventory of information and other associated assets.
When the project also includes collecting retired equipment, we integrate the inventory process with our IT Asset Disposition activities. We identify assets by their serial numbers and document their collection and handover. For compatible and functioning storage media, we can perform secure data erasure and provide the corresponding report, as agreed with the client. The NIST SP 800-88 Rev. 2 guidelines provide a technical reference for storage media sanitisation.
As part of our IT asset audit work, we inventory IT equipment, check it against company asset registers and document the information collected, from serial numbers to locations and device condition. These records help businesses understand the composition of their hardware estate, plan upgrades and organise the return of equipment intended for recovery and value realisation.
