Unlocking Operating Efficiencies Through Asset Visibility
Enterprise asset management is about not only improving supply chain efficiency and minimizing costs but can also be a matter of regulatory compliance, as in the case of some IT assets. Traditional asset management systems involved pen and paper; this transitioned to barcodes, a technology that was limited by line-of-sight readers that is labour-intensive and can place workers’ lives in danger. Radio Frequency Identification (RFID) tags were the next iteration of asset management, but high hardware costs, the need for specialized skillsets and the lack of solutions prevented mass adoption. But now, RFID tags and readers are inexpensive making ROI more attractive. The result is an increased rate of adoption across every industry.
TrackX Holdings (TKX:TSXV), a Sophic Capital client, has moved beyond RFID hardware and created secure, hardware agnostic, Global Asset Management solutions for the Enterprise (G.A.M.E.). TrackX is an Industrial Internet of Things facilitator that collects valuable information from monitored items in the field, adding value to enterprises via workflow, analytics, and alerting for G.A.M.E. Companies across numerous verticals, especially those with high-valued assets, returnable assets, and transportation yard management requirements, are implementing TrackX’s asset management system, including name-brand, blue-chip companies. We believe TrackX will continue to gain market share as customers and prospects realize the efficiencies unlocked by TrackX’s ability to capture and analyze asset data to uncover hidden value.
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