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Advantages of RFID Smart Asset Management

August 18,2022.

With the development of the economy, many companies continue to increase their investment in fixed assets, how to effectively manage fixed assets has become particularly important. Taking bank fixed asset management as an example, in the face of a large number of fixed asset data files, if there is no effective management method and technology, it may face the crisis of performance decline. A complete set of RFID (Radio Frequency Identification) asset management solution is an inevitable choice for banks. This solution can ensure the orderly progress of fixed asset management by building equipment management, detailed reports, information management and other information management.

Five major disadvantages of traditional bank asset management system:
1. Personnel manually fill in various equipment data and check the number and status of equipment, which is complicated, time-consuming and error-prone;
2. Asset record paper is easily damaged, lost, and difficult to preserve;
3. The result of asset inspection needs to be recorded manually, which wastes manpower and time and is inefficient;
4. Managers are prone to make mistakes and cause losses;
5. Human operation can easily lead to irregular inspection results, resulting in loss of assets, confusion and many other problems.

Seven advantages of RFID for fixed asset management:
1. Easy and fast reading: data reading does not require a light source and can be checked through the outer packaging for effective identification;
2. Fast recognition speed: once the tag enters the range of magnetic field or electromagnetic wave, the reader can read the information immediately, and can process multiple tags at the same time to realize batch identification;
3. Large data capacity: RFID tags can be expanded to several K according to user needs;
4. Long service life and wide application range: the radio communication method enables RFID technology to be used in highly polluted and radioactive environments such as dust and oil pollution, and the closed packaging makes its service life far longer than that of printed barcodes;
5. Label data can be changed dynamically: data can be written and changed, and the writing time is shorter than printing barcodes;
6. High security: it can be embedded or attached to products of different shapes and types, and password protection can be set;
7. Dynamic real-time communication: As long as the object attached to the RFID tag appears within the effective identification range of the reader, its position can be dynamically tracked and monitored.

Through the introduction of advanced IoT RFID technology, the bank's fixed asset management efficiency has been significantly improved; the combination of RFID technology and management system can truly realize "automatic tracking and management of assets throughout the life cycle", and realize "people, place, time, and objects" in asset management. "Synchronous management can effectively reduce and control daily management and production costs, greatly reduce human resource investment, and increase efficiency and efficiency.
RFID ABS Asset Tags
Aiming at the many drawbacks of traditional fixed asset management, RFID asset tags identification technology can be combined with information systems to realize the information management of fixed assets, and solve the inconsistency between physical objects and financial accounts that often occur in fixed asset management for enterprises and government institutions. problem; complete the depreciation calculation of fixed assets; solve the tedious problem of depreciation of fixed assets, and rely on efficient data transmission technology, the person in charge of enterprises and institutions can understand the real-time management of all fixed assets while sitting in the office.

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