TrackX: IIoT and Auto-ID Enabled Asset Management Solutions
Tim Harvie, President & CEO
Due to the prevalence of connected sensors in the industrial world, automated asset management and tracking intelligence are always essential for the enterprise. However, to revamp their infrastructure strategies that ensure protection and safety for a variety of company assets, companies always look forward to more advanced solutions than the commercial IoT - making the Industrial Internet of Things (IIoT) a 'must look at' initiative in the enterprise arena. Bringing state-of-the-art technologyin to the sector is Colorado-based, TrackX, with its unique software platform that enables the IoT by providing unique item level tracking, workflow processing, event management, alerts, powerful analytics, and seamless integration with existing systems. The firm is an enterprise Industrial Internet of Things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive management of physical assets to a wide array of industries.
TrackX offers a multitude of asset management benefits to organizations through its automated IIoT platform, GAME (Global Asset Management for Enterprises). GAME provides real-time asset visibility and retrieval of historical asset data for efficient utilization of an organization’s assets. This platform, which is hardware and technology agnostic, cloud-based, and enterprise scalable, utilizes multiple auto-ID technologies for the comprehensive management of physical assets. “The power of GAME enables us to rapidly scale to support any number of locations, devices, users, and assets within an enterprise,” says Tim Harvie, President and CEO. Built on the GAME platform are several technology modules designed for infrastructure management, integration to existing systems, advanced reporting and analytics, and access to mobile computing devices. These modules enable several business templates and workflows, such as GAME for IoT, GAME for RTI (Returnable Transport Items), GAME for Yard, and GAME for Brewery, to name a few; tailored to meet the requirements of clients in multiple verticals.
TrackX’s Industrial Internet of Things (IIoT) platform utilizes multiple auto-ID technologies for the comprehensive management of physical assets
TrackX’s unique platform helps clients manage their assets based on a set of attributes that go beyond standard asset tracking by including status, location, condition, ownership, and historical data, combined with a set of business workflows to create comprehensive business intelligence for informed decision making. The firm’s SaaS-based, enterprise-scalable platform employs RFID, BLE (Bluetooth Low Energy), and other sensors to gather asset data and streamline business operations.
TrackX has assisted several clients, including several Fortune 500 firms in the alleviation of manual asset tracking and management mechanisms and adoption of its Global Asset Management for Enterprises (GAME) platform in creating an automated inventory management system. Recently, a large enterprise incurred a significant labor cost as a result of manual inventory management and eventually sought the expertise of TrackX to address its grievances. The enterprise encountered a string of asset management issues such as the loss or theft of assets, periodic manual inspection, and compliance. “The goal of the project was to monitor and maintain inventory, protect data, reduce redundancies, and reduce theft and loss,” adds Harvie. Utilizing the GAME platform, TrackX transformed business processes by reducing theft and loss, maintaining compliance, decreasing labor costs and thus, increased efficiency. However, TrackX helped the enterprise overcome inventory management issues by adopting several measures, such as attachment of RFID tags to assets and installing RFID readers and antennas across the facility. RFID surveillance enabled the client to receive exception alert notifications about asset movements—resulting in a significant prevention of loss of assets and critical information.
Similarly, a leading e-commerce platform for automobile resale sought the expertise of TrackX for effective management and recovery of their assets. The RFID enabled solution provided by TrackX is efficient in the generation of asset status updates across various locations of the car-selling platform. “Our solution catalyzes their ability to shorten delivery times to customers, decrease loss or theft of automobiles, and increase labor efficiency which is driving a rapid ROI on the solution,”says Harvie.
Over the years, TrackX has imparted its expertise to clients across industries such as hospitality, healthcare, beverage and brewery, transportation, and information technology. According to Harvie, 2016, in particular, was an eventful year for TrackX, with a successful public offering on the Toronto Venture Exchange, trading under the symbol TKX, and a capital raise were a couple of milestones achieved during this period. “In addition, we recently made the accretive acquisition of broTECH Solutions,” concludes Harvie.