Mobile Asset

What Are Mobile Assets?

Mobile assets are portable IT devices that employees use for work across different locations. Unlike fixed assets—such as desktop computers or office printers—mobile assets move with employees, whether working remotely, attending off-site meetings, or managing field operations. These devices are essential for communication, data access, and productivity but pose tracking, security, and compliance challenges. Mismanagement of mobile assets can lead to data breaches, financial losses, and regulatory violations, making robust asset management strategies essential.

Types of Mobile Assets

Mobile assets vary based on functionality, industry, and usage, making tracking and managing them essential.

• Company-Issued Devices – Laptops, smartphones, and tablets assigned to employees for work, ensuring secure access to corporate systems.
• Wearable Technology – Smartwatches for communication and workflow tracking, AR/VR headsets for training and remote assistance.
• Mobile IT Equipment – External hard drives, portable projectors, and wireless routers to support connectivity and data management.
• Rugged Mobile Devices – Industrial-grade laptops, barcode scanners, and field tablets designed for extreme environments like manufacturing and logistics.
• Fleet & Logistics Assets – GPS trackers, mobile POS systems, and handheld inventory scanners used in transportation, warehousing, and retail.
• Bring Your Own Device (BYOD) – Employee-owned laptops and smartphones are used for work and strict security policies are required to prevent data breaches.

Who Manages Mobile Assets?

Managing mobile assets requires collaboration across multiple departments to ensure proper tracking, security, and utilization.

• IT Asset Managers handle procurement, deployment, inventory tracking, and software licensing to ensure assets are appropriately assigned and maintained.
• IT Security Teams enforce encryption, access controls, and endpoint security through Mobile Device Management (MDM) solutions to protect against cyber threats.
• Operations & Logistics Teams oversee deployment, retrieval, and maintenance, ensuring devices are efficiently distributed and replaced when needed.
• Finance & Procurement Teams focus on budgeting, cost allocation, and asset depreciation to optimize spending and financial reporting.
• Employees & Contractors must follow security policies, report lost or damaged devices, and ensure proper use.
• Third-Party Vendors assist with leasing, maintenance, and IT asset disposition (ITAD) for secure disposal or repurposing of retired devices.

Why Is Mobile Asset Management Important?

Proper mobile asset management ensures security, compliance, and cost efficiency while preventing financial and operational risks.

• Visibility & Control – Real-time tracking prevents loss, theft, and unauthorized access, ensuring that assets are actively used and properly assigned.
• Security & Compliance – Mobile devices store sensitive business data, making them vulnerable to cyber threats. MDM solutions enforce security policies such as:
  • Encryption & Access Controls to prevent unauthorized data access.
  • Remote Lock & Wipe to safeguard information if a device is lost or stolen.
  • Endpoint Security & Compliance Enforcement to meet GDPR, CCPA, HIPAA, and other regulations.
• Financial Efficiency – Asset management helps optimize IT spending by:
  • Tracking asset depreciation to improve budgeting and procurement.
  • Reallocating underutilized devices to avoid unnecessary purchases.
  • Extending asset lifespan through proactive maintenance and upgrades.

How Are Mobile Assets Tracked?

Businesses achieve complete visibility, security enforcement, and financial control over mobile assets by integrating Mobile Device Management (MDM), RFID tracking, and IT Asset Management (ITAM) platforms. These solutions streamline asset tracking, optimize efficiency, prevent loss, and ensure compliance. By leveraging a mix of barcodes, RFID tags, GPS tracking, and MDM software, companies can centrally manage and monitor mobile devices throughout their lifecycle.

Key Tracking Methods:

• Barcode & RFID Tags – Barcode scanning updates asset records instantly, while RFID (Radio Frequency Identification) technology automates asset monitoring, making it ideal for managing large-scale IT inventories. Tools like Asset Panda, EZOfficeInventory, and Snipe-IT streamline barcode and RFID-based asset tracking.
• GPS Tracking – Used for field equipment, company-issued laptops, and high-value mobile assets to prevent loss and enable fast recovery.

Mobile Device Management (MDM) Solutions:

MDM software provides remote control over company-issued and BYOD mobile devices, allowing IT teams to:

• Assign devices to employees and monitor usage.
• Track device locations in real-time.
• Remotely track, lock, wipe, and manage devices.
• Restrict unauthorized access to sensitive company data.
• Enforce security updates & compliance policies automatically.

Popular MDM solutions include Jamf Pro (best for Apple devices), Microsoft Intune (integrates with Azure AD and Office 365), and VMware Workspace ONE (ideal for managing multi-platform assets).

IT Asset Management (ITAM) Platforms:

For broader asset lifecycle management, compliance, and financial tracking, businesses use ITAM platforms such as:

• Teqtivity – Cloud-based IT asset tracking with real-time inventory management.
• ServiceNow ITAM – Automates asset lifecycle management and integrates with ITSM.
• SolarWinds Web Help Desk – IT asset tracking with ticketing and reporting features.

Best Practices for Mobile Asset Management

Efficient mobile asset management requires tracking, security, and lifecycle planning. Follow these best practices to optimize your strategy:

• Automate Tracking – Use RFID, GPS, and MDM solutions to reduce errors and improve inventory accuracy.
• Restrict Access – Implement role-based controls and geofencing to prevent unauthorized use and movement.
• Conduct Routine Audits – Perform quarterly or annual asset checks to track usage and prevent loss.
• Set Automated Alerts – Schedule notifications for expiring warranties, software updates, and maintenance to ensure timely renewals.
• Standardize Procurement – Use an approved vendor list to streamline purchases and ensure policy compliance.
• Integrate with ITAM – Manage mobile assets within your IT Asset Management (ITAM) system for unified tracking and financial planning. See how Teqtivity simplifies IT asset management by viewing our product tour.
• Plan for End-of-Life – Securely retire devices through data sanitization, ITAD, and recycling to prevent data leaks and ensure compliance.

Cost-Saving Strategies for Mobile Asset Management

Here’s how mobile asset management cuts costs and maximizes IT budget efficiency:

• Optimize Device Utilization – Reassign underutilized assets instead of purchasing new ones. Monitor usage to ensure devices are being used efficiently.
• Reduce Unnecessary Purchases – Standardize procurement for bulk discounts, explore leasing options, and consider certified pre-owned devices to lower costs.
• Automate Tracking & Security – Use RFID/barcode scanning to streamline inventory and deploy MDM solutions to remotely track, lock, or wipe lost or stolen devices, preventing costly security breaches.
• Extend Asset Lifespan – Perform regular firmware updates, replace batteries and hardware components instead of full replacements, and schedule maintenance to avoid premature failures.
• Implement Lifecycle Management – Resell, trade-in, or securely dispose of outdated assets through IT asset disposition (ITAD) to recover value and maintain compliance.

Glossary of Related Terms

• Asset Lifecycle Management
• Asset Utilization
• Asset Tracking
• Budgeting
• Hardware Asset Management
• ITAD
• ITAM
• Procurement