Here’s Our List of 5 Best Tool Tracking Software For 2024

Helpful Summary

Overview: This article reviews five leading tool tracking software solutions, emphasizing their significance in enhancing operational efficiency and asset management through features like inventory management, location tracking, and maintenance scheduling.

Why You Can Trust Us: Our advice is grounded in comprehensive analysis and comparisons of software functionalities, user interfaces, pricing, and customer feedback, showcasing a deep understanding of asset management needs across various industries.

Why It Matters: Effective tool tracking software ensures streamlined operations, reduces inventory loss, enhances maintenance productivity, and supports informed decision-making for asset management.

Action Points: We recommend evaluating your specific tool tracking needs, considering factors such as, tracking technology, ease of use, maintenance scheduling capabilities, and cloud-based access. Then, compare the features, pros, and cons of the highlighted software to select the most suitable one for your needs.

Further Research: For a more in-depth understanding of tool tracking software solutions, we suggest exploring case studies and testimonials from companies that have successfully implemented these tools in their operations. 

Clear visibility into all company assets in today’s business landscape is paramount. A recent IBM study found that it can enhance maintenance productivity by 28% and reduce inventory maintenance and repair by 18%. Precise tool tracking, therefore, is crucial for operational efficiency and effective asset management.

Whether surveying bustling construction sites or managing intricate manufacturing processes, keeping a close eye on tools is essential for streamlined operations. Recognizing this need, various tool tracking software solutions have emerged, each with its own set of features and advantages.

At BlueTally, we recognize the significance of selecting the right tool tracking software. This guide explores the top 5 options, highlighting how each goes beyond the norm to enhance your asset management practices.

Why Listen To Us?

Finding the right tool tracking software is crucial for managing your assets efficiently. BlueTally, with its proven track record, stands out in this field. We have firsthand experience aiding businesses of all sizes in navigating the complexities of asset management. 

Our success stories, showcased in our testimonials, highlight our commitment to providing a solution that not only meets but exceeds your expectations.

By choosing BlueTally, you're not just getting a software provider–you're gaining a partner dedicated to optimizing your asset management processes. Our clients have witnessed firsthand the benefits of our system, from streamlined operations to enhanced financial accuracy. These achievements underscore the reasons for trusting us with your tool tracking needs.

For further details on how we've helped businesses like yours, visit our website

What is a Tool Tracking Software?

Tool tracking software, also referred to as tool management software, is a solution that helps organizations oversee their tool inventory and monitor the whereabouts and utilization of tools. 

Below are some main functionalities of this software:

- Inventory Management: Maintaining a record of tools.

- Location Tracking: Tracing the physical locations of tools.

- Usage Tracking: Monitoring the usage of tools.

- Check-In/Check-Out System: Providing options for checking tools in and out using barcodes or unique identifiers.

- Employee Accountability: Linking each checked-out tool to an employee record to enhance accountability.

- Maintenance Scheduling: Incorporating features for scheduling maintenance based on tool usage.

- Asset Replacement Identification: Recognizing instances when a tool might require replacement.

Essentially, tool tracking software serves as a specialized asset management system tailored specifically for tracking physical tools. It proves to be a valuable asset for businesses, especially those operating in sectors where tools are extensively utilized and require efficient management.

Benefits of Using Tool Tracking Software

Scheduled Maintenance Organization

Tool tracking software offers alerts and reminders for upcoming tool maintenance checks. This ensures seamless operations while adhering to proper maintenance schedules.

Asset Monitoring and Inventory Management

Thanks to RFID barcode technology, tool tracking software aids in monitoring asset locations and tracking their quantities. At BlueTally, our tool tracking software’s RFID barcode technology allows you to easily monitor the locations of your assets and track their quantities accurately. By leveraging this precise data, you can minimize errors when storing and organizing equipment.

Precise Documentation and Lifecycle Monitoring

The software swiftly generates accurate records for tools and equipment, tracking them throughout each lifecycle stage. It provides insights into repair histories, locations, and equipment ownership, empowering informed purchasing decisions and optimizing investments.

Criteria to Consider When Looking For Tool Tracking Software

Tracking Technology

Depending on your specific requirements, you can choose between GPS, RFID, and QR codes. GPS is ideal for tracking tools over large distances and multiple locations. RFID offers automated tracking with less human error, suitable for security-focused organizations. QR codes are versatile, require no specialized equipment, and are familiar to many employees​​.

BlueTally's unique QR codes for fixed assets simplify asset tracking. Easily print and customize barcodes with asset IDs through BlueTally.

GPS Feature

This feature is essential for tracking mobile assets across different sites. It enables real-time location tracking of tools, enhancing inventory management​​.

Check-In and Checkout System

A smooth system for this process is crucial for maintaining accurate, real-time data, reducing misplacement or theft risks​​.

GigaTrak features a check-in and check-out system that facilitates assigning tools to employees or particular sites, setting deadlines, and efficiently overseeing transactions.

Maintenance Scheduling

Look for software with a maintenance schedule to support preventative maintenance practices, improving equipment efficiency and productivity​​.

With BlueTally, for instance, you can schedule and log asset audits. These audits help ensure that assets are regularly inspected, maintained, and remain in good condition.

Cloud-Based Software

With the increase in remote work, cloud-based solutions offer access to department information regardless of location, enhancing team collaboration and management.

Our List of 4 Best Tool Tracking Software

1. BlueTally
2. ShareMyToolbox
3. GigaTrak
4. EZOfficeInventory

1. BlueTally

BlueTally is asset management software designed to simplify asset tracking and management, eliminating the need for spreadsheets and cumbersome systems. We offer a user-friendly interface, quick setup without a credit card, and features like asset tracking, ITAM automation, centralized data management, and robust security with SOC 2 certification.

BlueTally integrates with several platforms including Intune, Azure AD, and Jamf, providing a comprehensive solution for asset management. We offer a range of pricing plans, including a free option for managing up to 50 assets. 

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Key Features

- Dashboard: Access all key asset information in one convenient location using our Dashboard. Quickly view upcoming events for the next 14 days, current asset value, number of checked-out assets, asset utilization, and detailed activity logs.

- Asset Barcodes: Each asset is assigned a unique barcode based on its designated Asset ID. These barcodes can be easily printed and affixed to the assets, facilitating effortless scanning and identification.

- Check-in/Check-out Assets: Efficiently allocate assets to specific locations or employees through the check-out process. Capture detailed information such as the asset's condition during check-out, attach relevant photos, and set anticipated check-in dates. Receive timely notifications for items approaching their return deadlines.

- Asset Audits & Maintenances: Stay organized by monitoring upcoming audits and scheduling asset audits. Receive notifications for overdue audits and effectively manage asset maintenance records.

- Depreciation Calculation: BlueTally automatically computes asset depreciation using the straight-line method. View the depreciation for each asset individually or generate a comprehensive Depreciation Report.

- Kits: Create kits, such as starter packs for new employees, to simplify the management of frequently checked-out assets. Tailor the kit's contents and quantities to suit specific needs.

Pros and Cons

Pros

• Delightful and user-centric interface 
• Offers competitive pricing
• Intuitive and visually pleasing tool
• Straightforward and hassle-free setup process.

Cons

• Premium features in higher tier
• Challenges with bulk Import

2. ShareMyToolbox

ShareMyToolbox is a mobile tracking and small tool management solution designed for contractors and field-based teams. It facilitates tool tracking, sharing, and management with a clean, simple, and easy-to-use interface. 

This platform allows for efficient tool transfer between warehouse and field or among personnel, aiming to minimize tool mismanagement and save time and money.

Key Features

- Real-time Monitoring: Enables the instant tracking of tools and inventory.

- Tool Management Actions: Encompasses functionalities like lending, borrowing, returning, and transferring tools between different warehouses or job sites.

- Integrated Scanner: Harnesses your device's camera to scan barcodes or QR codes, eliminating the need for additional scanning equipment.

- Robust Search and Filtering: Facilitates quick location of necessary tools and items.

- Transaction History: Maintains a comprehensive record of all tool transactions, bolstering accountability and traceability.

Pros and Cons

Pros

• Seamless setup and user-friendly interface
• Offers instant advantages in streamlining inventory management
• Positive customer support encounters
• Consistent enhancement with the integration of new features
• Cost-effective solution

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Cons

• Occasional lag when adding new members via the application
• Initial system errors like incorrect data syncing and slow loading times

3. GigaTrak

GigaTrak offers a range of barcode tracking solutions designed for managing assets, tools, documents, facilities, and inventory. Their services utilize barcode label scanning and RFID technologies to help businesses track company property and investments, aiming to reduce operating costs and aid in business success.

They offer both off-the-shelf and customized software solutions, catering to a wide variety of customer needs with a focus on ease of use and minimal training time.

Key Features

- Tool Management: Efficiently handle an extensive array of tools by monitoring their whereabouts through location, employee, or container categorization.

- Check In/Out Procedures: Streamline tool allocation to employees or specific locations, establish due dates, and effortlessly manage transactions.

- Maintenance Oversight: Schedule and monitor maintenance and repairs, ensuring tools are not checked out if maintenance is overdue.

- Robust Reporting: Generate diverse reports encompassing tool assignment history, depreciation, and maintenance schedules.

- Tailored Customization: Enjoy flexibility with unlimited user-defined fields, conditions, accounts, and funding sources for personalized tool management.

Pros and Cons

Pros

• User-friendly interface
• Offers real-time tracking

Cons

• Has limited adaptability to modern electronic devices
• Installing additional reports, formats, or functions may incur extra costs

4. EZOfficeInventory

EZOfficeInventory is a software platform designed to help businesses track, manage, and maintain their physical assets efficiently. It offers customized workflows, detailed asset management through custom fields, and aims to minimize asset loss and misplacements. The software supports automated depreciation calculation and regular audits for budgeting and spending management.

EZOfficeInventory provides performance analytics for operational efficiency, features a mobile asset tracking app, and integrates with other applications for enhanced workflow compatibility. 

Key Features

- Asset Lifecycle Management: Monitor assets from procurement to retirement through a web-based tracking system.

- User Access Control: Regulate user access and responsibilities within the system.

- Maintenance Tracking: Schedule and monitor maintenance activities.

- Customizable Reports & Alerts: Generate personalized reports and alerts to enhance asset tracking efficiency.

- Stock & Inventory Management: Manage asset stock and consumable items with low stock alerts and transfer options.

Pros and Cons

Pros

• User-friendly interface
• Offers extensive customization options
• Users can access the platform from any location
• Great customer service

Cons

• Inefficiencies in the booking system, such as the lack of alerts for booking clashes when reserving multiple items simultaneously
• Mobile platform is criticized for being cumbersome and less user-friendly.

Conclusion

Managing tools efficiently is crucial for the success of any organization, and investing in the right tool tracking software can significantly streamline this process. The five best tool tracking software options discussed in this article offer a range of features to meet diverse needs, from real-time tracking to comprehensive reporting.

Among these, Bluetally stands out as a top-notch solution, providing an intuitive interface, robust features, and unparalleled ease of use. As we've explored various options, it's evident that Bluetally excels in delivering a seamless tool tracking experience for businesses of all sizes.

Take control of your tools and enhance your operational efficiency by trying out Bluetally for free today.