IT Asset Tracking: A Complete Guide to Smarter Device Management

IT asset tracking can make or break your operations—just ask the IT manager scrambling to locate a missing laptop loaded with sensitive company data. Meanwhile, finance uncovers months of payments for software licenses assigned to ex-employees, and a new hire sits idle for days because no one can find them a laptop.

These scenarios play out daily in organizations with fragmented IT asset management. The consequences create security vulnerabilities and inflate costs. They diminish productivity across departments.

But what if you could instantly pinpoint every device's location, monitor software usage across your fleet, and move tech between team members—no matter where they work?

Below, we look at how modern IT asset tracking solves these problems. These are the technologies, strategies, and solutions that create visibility and control across your entire IT ecosystem—whether your team works from a single office or spans continents.

What is IT asset tracking?

IT asset tracking is the process of monitoring and managing the lifecycle of technology resources across your organization. It creates a dynamic record of each asset's status, location, and utilization, from purchase through to retirement.

Unlike simple inventory counts, tracking answers critical operational questions:

• What technology do we own?
• Where is each device located right now?
• Who's using each asset and how?
• What's the current condition of our hardware and software?
• When will we need maintenance or replacements?

Asset tracking serves as a foundational layer of broader IT Asset Management (ITAM). While tracking focuses on the physical whereabouts and status of devices, ITAM extends into strategic territory—optimizing costs, managing vendor relationships, ensuring compliance, and aligning technology investments with organizational goals.

So tracking is the essential visibility layer that enables effective management. Without accurate tracking data, organizations struggle to make informed decisions about procurement, optimization, and retirement. The operational insights gained through systematic tracking directly inform the strategic elements of your broader ITAM program.

The types of assets tracked

Fundamentally, IT asset tracking will look at three categories:

• Hardware assets: Laptops, desktops, mobile devices, servers, networking equipment, and peripherals are the physical backbone of your tech infrastructure. These tangible assets need location tracking and maintenance scheduling. They’ll also need eventual replacement planning.

• Software assets: Applications, SaaS subscriptions, and digital tools comprise your software portfolio. Tracking these intangible assets focuses on license compliance, usage optimization, and renewal management to prevent bills stacking up unnecessarily.

• Cloud resources: Virtual machines, storage, and containers make up the bulk of your cloud footprint. Effective cloud asset tracking prevents resource sprawl and helps manage costs that can quickly spiral without proper oversight.

See also: The Most Popular IT Products for Every Team in 2025

How IT asset tracking saves money, time, and security risks

Implementing asset tracking delivers solid advantages that directly impact efficiency in operations and security—as well as finance. Here's how modern tracking transforms IT management:

More visibility and control

Without comprehensive tracking, many organizations operate with a significant blind spot—they simply don't know what technology they have or where it's located. This fundamental gap creates cascading operational problems throughout the organization.

Real-time location tracking enables immediate identification of available equipment for onboarding new hires.

It allows for rapid recovery of misplaced assets, and accurate physical inventory without disruptive manual counts. And perhaps most importantly, it establishes clear accountability for device assignments across departments, eliminating the frustrating search for tech resources when they're needed most.

Lower costs and reduced waste

The financial impact of poor asset tracking goes far beyond missing hardware. Organizations without systematic tracking typically overspend on tech through redundant purchases when existing assets could easily be redeployed.

They also see underutilized software licenses that continue to renew. Organizations track only 40% of their SaaS applications, leaving a staggering 60% unmonitored. This lack of visibility results in 25% of SaaS licenses going unused, costing enterprises a huge amount in wasted subscriptions. Similarly, IT professionals estimate around 24% of their SaaS spend is wasted due to poor visibility and management.

As well as this, companies suffer preventable device repair costs from delayed maintenance, and spend on unnecessary upgrades to equipment which still has remaining useful life.

See also: Want to Reduce IT Costs? Try These 5 Reconditioning Strategies

Improved security and theft prevention

Physical assets are both financial investments and potential security vulnerabilities.

Modern tracking technologies add crucial protective layers through GPS and geofencing capabilities, detecting unauthorized movement beyond defined boundaries. Integration with security platforms enables automatic data wipes when devices enter unauthorized locations, while documented chain-of-custody works to prevent losses internally by creating accountability.

When security incidents occur, rapid identification of the devices that are affected minimizes exposure windows and potential data breaches.

For distributed and remote teams, these security features become even more important as physical oversight diminishes and devices are regularly moved between locations. The ability to validate device location, status, and security posture remotely gives you peace of mind while protecting sensitive corporate information.

See also: Top 10 MDM Solutions for Improving Device Security and Workforce Efficiency

Streamlined maintenance

If your maintenance approach is reactive, you tend to see more premature equipment failure, emergency repair costs, and productivity disruptions.

But systematic tracking transforms maintenance from crisis response to proactive, strategic management.

Automated warranty tracking stops you paying for repairs that are already covered by manufacturer guarantees. Scheduled maintenance based on usage patterns will extend the lifespan of devices, while proactive parts replacement prevents cascading system failures.

Performance trend analysis is also an option, identifying degrading equipment before a critical failure—allowing for planned replacement rather than emergency purchases. This proactive approach not only reduces direct costs but minimizes productivity losses associated with unexpected equipment failures.

Better compliance

Regulatory requirements and licensing agreements create IT compliance obligations that can be seriously complex—and difficult to follow.

And you have to be wary of them, because they can carry significant penalties for violations.

Flexera's 2024 State of ITAM Report highlights escalating audit costs, with 22% of enterprises paying over $5 million in penalties due to non-compliance with software licensing agreements over a three-year period—a 47% increase from 2023.

IT asset tracking helps provide the documentation needed for software license compliance verification during vendor audits.

It also gives you data security compliance certification for regulated industries, asset location documentation for insurance and tax purposes, and proper IT asset disposition proof for environmental regulations. The ability to produce accurate compliance docs on demand not only prevents penalties but makes audit processes easier on your staff.

What to look for when choosing asset tracking software

Selecting the right software platform is perhaps the most consequential decision in your asset tracking strategy. The market offers numerous options, ranging from basic inventory tools to sophisticated enterprise platforms.

Here are the important capabilities you should prioritize.

Barcode/RFID integration

Manual data entry is one of the primary sources of tracking errors—so it has to be eliminated. The best way to do this? Software that naturally works with your physical tracking technologies. Organizations with barcode or RFID integration typically save time with their inventory audits while significantly improving accuracy rates.

Great platforms make this scanning operation intuitive, reducing the learning curve for staff. Integrations should extend beyond basic identification, too, to include automated updates when assets move or change status.

The difference between manual tracking and integrated scanning is dramatic. The key isn't just the technology but how it simplifies the process for non-technical staff responsible for equipment handling.

Real-time asset location monitoring

Modern businesses need dynamic visibility into their technology fleet, not static inventory lists that quickly become outdated. Look for platforms that give real-time location updates and trigger when assets move beyond defined boundaries or between designated zones.

This capability becomes particularly useful for organizations with distributed teams, where equipment frequently transitions between office locations, client sites, and remote work environments. Real-time monitoring keeps security compliance on point while offering employees the flexibility to work from multiple locations without creating asset management blind spots.

Lifecycle management tools

Your assets go on a journey from procurement through deployment, maintenance, and eventual retirement. Effective tracking platforms follow this entire lifecycle, documenting key transitions and maintenance events along the way.

Look for solutions that maintain comprehensive records like purchase details, warranty information, deployment history, user assignments, maintenance records, performance data, and eventual disposal documentation. This historical perspective becomes seriously invaluable when making replacement decisions. It’s also great for demonstrating compliance with data security regulations during asset retirement.

See also: 10 Best Hardware Inventory Software to Streamline IT in 2025

Automated alerts and notifications

Passive tracking systems quickly lose value as organizations get more complex and their demands increase. Modern platforms transform this static tracking into proactive management, with automated alerting systems that flag events that need your attention.

Some examples are:

• Movement alerts identify when assets leave authorized areas
• Maintenance reminders prevent overlooked service intervals
• License expiration warnings help maintain compliance
• Security update notifications highlight vulnerable systems
• Inactivity alerts identify underutilized assets for potential redeployment

Automated workflows can route alerts to the appropriate teams based on device type and location, creating accountability without additional administrative overhead. The end result here is the prevention of IT-related failures throughout the business.

Customizable reporting and analytics

Different stakeholders need different insights from your tracking system. IT teams focus on maintenance and security, finance departments track depreciation and utilization metrics, while operations leaders might need availability and deployment data.

The most useful platforms let you configure dashboards tailored to various user roles. They’ll let you use custom reporting templates for routine analysis, and use flexible querying capabilities for unexpected needs. The ability to export data in various formats supports compliance documentation and integration with other business intelligence tools.

Integration with your broader IT ecosystem

Asset tracking exists within a complex technology environment, with various interdependent systems. Your tracking solution should connect with:

• Procurement systems to automatically register new assets
• Helpdesk platforms to link assets with support history
• Security tools to verify protection status
• Financial systems for depreciation tracking
• HR processes for employee onboarding/offboarding

These integrations make for a unified technology management approach, so you won’t have to suffer duplicate data entry and you’ll have consistent visibility across departments.

When tracking systems connect with procurement and HR workflows, organizations should see dramatic improvements in device provisioning times. With this in place, they can benefit from zero-touch deployment of assets while maintaining complete documentation throughout the device lifecycle.

Top IT asset tracking solutions on the market

The asset tracking market offers diverse solutions tailored to different organizational needs, from specialized point solutions to comprehensive platforms that manage the entire IT lifecycle.

Here are how some of the leading options stack up.

6 game-changing technologies for IT asset tracking

The foundation of any effective asset tracking system is the technology you choose to identify and monitor your devices.

We’ve chosen six of the most commonly-used ones, which we think are safe bets to invest in. You might otherwise encounter tracking over 5G, WiFi, and UWB.

Each of these approaches has its own advantages and disadvantages to consider, which we’ll cover below.

1. RFID (Radio-Frequency Identification)

RFID uses small electronic tags that communicate with readers using radio waves, requiring no physical line of sight to scan and identify managed assets.

Pros:

• Scan multiple items simultaneously (up to 100+ tags per second)
• No need for direct line-of-sight, allowing tags to be hidden inside equipment
• Highly durable tags that work in challenging environments
• Extremely accurate with read ranges from a few inches to 100+ feet

Cons:

• Higher implementation costs compared to simpler solutions like barcodes
• Potential signal interference in environments with lots of metal or liquids
• Requires more specialized expertise to set up properly

2. Barcode labels and QR codes

These printed optical labels remain the most accessible tracking technology, needing only a scanner or smartphone to read the encoded information.

Pros:

• Extremely cost-effective to implement across your organization
• Simple to deploy with minimal training needed for staff
• Available in durable formats for harsh conditions
• Widely understood technology with abundant support resources

Cons:

• Requires manual barcode scanning for each asset individually
• Needs direct line-of-sight between scanner and label
• Physical damage to labels can render them unreadable
• Limited data storage compared to more advanced options

3. GPS (Global Positioning System)

GPS tracking provides real-time location data for assets that move between locations or are deployed in the field.

Pros:

• Precise real-time tracking across wide geographic areas
• Perfect for vehicle fleets, field equipment, and high-value mobile assets
• Enables geofencing to alert you when assets leave designated areas
• Works globally without requiring local infrastructure

Cons:

• Less effective for indoor tracking where GPS signals are weak
• Higher power consumption impacts battery life on portable devices
• Typically more expensive per asset than passive tracking methods
• May raise privacy concerns when tracking devices assigned to employees

4. IoT (Internet of Things)

IoT sensors create connected assets that autonomously report location, status, and performance data over networks (often WiFi).

Pros:

• Collects rich data beyond just location (usage patterns, performance metrics)
• Provides real-time status updates without manual scanning
• Enables predictive maintenance through continuous monitoring
• Supports automation of inventory processes

Cons:

• Introduces potential security vulnerabilities if poorly implemented
• Requires reliable network connectivity throughout your environment
• More complex to deploy and manage at scale
• Higher per-unit cost than passive technologies

5. Bluetooth Low Energy (BLE)

BLE beacons offer an affordable middle ground between basic barcodes and more expensive active tracking systems.

Pros:

• Minimal power consumption makes batteries last for years
• Ideal for indoor tracking where GPS doesn't work well
• Lower implementation costs than full RFID or GPS systems
• Works with existing devices like smartphones and tablets

Cons:

• Limited range (typically 30-100 feet in optimal conditions)
• Signal can be affected by walls, people, and other obstacles
• Less precise for pinpointing exact locations within large spaces
• Requires infrastructure of BLE receivers throughout your facility

6. Near-Field Communication (NFC)

NFC allows very short-range communication between compatible devices, usually requiring deliberate action to scan tags. You might have used this when making contactless payments with your smartphone.

Pros:

• Extremely secure due to very short read range (typically under 3 inches)
• Many modern smartphones can read NFC tags without special hardware
• Tags are inexpensive and can be extremely small
• Energy efficient with passive tags requiring no power source

Cons:

• Limited to very close-range scanning only
• Not suitable for automatic or hands-free asset tracking
• Limited data storage capacity compared to other technologies
• Difficult to use for bulk scanning of multiple assets

Track, secure, and manage your entire IT lifecycle with Deel IT

Traditional approaches to managing assets create visibility gaps, security vulnerabilities, and admin bottlenecks that impact both IT departments and employees. Deel IT transforms fragmented asset tracking with a system you can trust.

How Deel IT simplifies global IT asset management:

• Global IT visibility in one platform: Track and manage devices across multiple locations through a unified dashboard. Eliminate information silos between HR, IT, and ops teams with real-time insights into device status and location.
• Automated tracking and reporting: Transform manual processes into background workflows that maintain accurate records without constant attention.
• Seamless integration with procurement and IT support: Connect asset tracking with purchasing workflows and support systems for end-to-end lifecycle management.
• Security-first approach: Protect both physical assets and sensitive data through remote wipe capabilities, geofencing technology, and device encryption management.
• Scalability for global teams: Support distributed workforces across 130+ countries with a platform that adapts to changing requirements without disruption.

Book a demo with Deel IT today to see how our approach to asset tracking can transform your technology management.