RFID: The solution for controlling a company's assets

RFID: The solution for controlling a company's assets

The advent of new technologies in the labor market can generate revolutionary changes in the way some processes are carried out. In this context, the RFID Solution, or Radio Frequency Identification, is an outstanding technology that is becoming more popular every day in the area of asset control. There are already several cases success stories of managers and directors who have adopted an RFID system to take inventory of the company through RFID tags and QR codes and achieved exceptional results in asset management. To understand more about what it is, how it works, and what role RFID technology plays in the future of asset tracking, read on!

The RFID system can be used in many moments, such as, for example, for automatic collection at tolls and gates, tracking, control of fixed assets and security. Furthermore, RFID tags are widely used in asset management. Read more below!

What is RFID system?

The RFID system consists of a communication mechanism that works through three elements: an antenna, a transceiver and a transponder, or radio frequency tag - the "tags“. 

With the support of a microchip that receives radio signals from the transmitting device and sends information back, the antenna is able to transmit the information to the reader device, which converts the radio waves into digital information and everything that is needed for the information is read by a computer. 

Tags can be read simultaneously. Thus, it is not necessary to be near the label to read it, as in the case of bar codes, and the frequencies can be identified through other materials, such as wood, plastic and fabric.

The frequencies used in the process may vary, mainly depending on the expected use of the RFID system. In the case of a radar, the range will be much greater than if the tags embedded in a payment system, for example, that does not require a long-range frequency.

How much does an RFID system cost?

The cost of the RFID system involves an accounting analysis of three different sets of equipment: hardware, software and tags. Hardware involves the elements necessary to read the signals and their infrastructure. Software, on the other hand, is licenses and integrations between systems, while RFID tags are the means necessary to make the entire system be integrated in your asset control. Consequently, they are the parts that most impact the cost of the system.

The overall cost of a system varies according to the number of labels that will be needed, their material and their type (longer reach, shorter reach, information storage, among other factors). On average, an RFID tag in the United States can cost 25 cents of the dollar, and it can rise in Brazil to 80 cents or 1.5 dollars per unit.

Finally, a cost-benefit analysis is essential to calculate the economic impact of an RFID system, because, although the cost of labels ends up being higher than the use of bar codes, its implementation will result in the optimization of others processes, theft prevention, reduction of future inventory costs, and other positive points that can generate very beneficial savings to the company. 

What is an inventory of assets?

The inventory of assets consists of a process of counting the company's assets, within the asset management, which, through records, allows knowing which and how many assets are being managed by the company. It indicates the existence of assets, their typologies, their conditions of use and other valuable data to understand a company. 

With the use of RFID, this smart inventory it proves useful for all types of companies, to obtain agility in confirming assets and ensure adequate depreciation, allowing for a financial statement made up of more accurate information. 

RFID for your company

One inventor can use different means to carry out the inventory. It is possible to have a team to carry out the count, which will be able to follow criteria and lists with which to register. However, this method of counting well to good has already been considered outdated, since the time invested in the process is extreme. 

If you want to take advantage of the latest technologies on the market, this is where the investment in a system comes in. RFID. More efficient and with a longer lifespan than bar code, it allows remote reading options, the RFID tags they are a means of inventorying with a unique precision and an increasingly adequate control to meet the customer's needs. 

With the Radio Frequency Identification, your company can gain time, be helped in accounting and in the financial statement, profit more and become increasingly known in the market for excellence in sales. It is an innovative solution, which promises to be a protagonist in the future of asset control of a company.

This was the case of Caixa Econômica Federal (CEF), which in 2019 contracted CPCON to deploy more than 1,500,000 million RFID tags in its assets. It was the largest project ever known in the world market for RFID applied to fixed assets.

Discover the complete case at CPCON website!

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