Using a blend of technologies—such as GPS for long-range outdoor tracking, RFID for bulk scanning, and Ultra-Wideband (UWB) or Bluetooth Low Energy (BLE) for centimeter-level indoor accuracy—businesses can pinpoint an asset's exact location at any second.

Beyond location, 2025 systems use smart sensors to track an asset's "health," including temperature, humidity, vibration, and impact. This is vital for industries like healthcare (cold chain monitoring) and manufacturing (machine health).

Modern platforms analyze historical and real-time usage data to predict when an asset will likely fail. This allows for "preventive" rather than "reactive" repairs, significantly extending equipment lifespan.

Managers can set virtual boundaries (geofences) around sites. If an asset leaves a designated area without authorization, the system triggers instant alerts via SMS or email to prevent theft.

The system records every stage of an asset's life—from procurement and deployment to maintenance and disposal. It automatically generates audit-ready reports, simplifying regulatory compliance.

Using RFID or mobile barcode scanning, systems log which employee is using which tool and when, ensuring a clear chain of accountability without manual paperwork.