Start-up asset management and anti-fraud
specialist The Asset Works has launched a new asset management
product, in addition to its radio frequency identification-based
(RFID) “SmartSecure” offering.
Known as “SmartTag”, the new product consists
of a sticker, bearing a leasing company’s name and a unique “quick
response” (QR) code, affixed to each asset in its possession.
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The code, which can be scanned using a smart
phone, allows lessees to connect to a mobile internet site, to
access asset identification, condition, location data and
images.
Lessors are then able to inspect the data
securely on a web-based management system, which will send
automated alerts if anything is amiss.
The company has said it will also offer
complete integration with lessors’ existing internal information
systems.
The aim of the product, The Asset Works added,
is to provide benefits including confirming an asset’s location and
usage data for remarketing purposes.
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By GlobalDataDavid de Silva, a director at The Asset Works,
said: “There was a clear need for a lower-cost solution that would
deliver real advantages to the asset management function.
“SmartTag is readable by any smart phone and
that provides us with enormous flexibility. Lessees can deliver
location based asset verifications simply, quickly, efficiently and
at any point in time.”
Lindsay Town, MD of advisory company Kent
Asset Solutions, said of the product: “Confirming, tracking and
identifying assets on lease or as part of asset based collateral
have always been one of the critical aspects of our industry.
“We have seen many times how failures in these
basic tests have led to avoidable losses. In my view, the industry
needs to adopt the most efficient and up to date technology to
support this vital part of risk management.”
SmartSecure,
The Asset Works’ other offering, was launched at the end of
2010. It consists of an adhesive tag, containing an antenna and
microchip, which is affixed to an asset and scanned by a
specially-made handheld reader, confirming its location via
GPS.
claire.hack@vrlfinancialnews.com
