SAP Asset Tracking


Asset Tracking is the practice of understanding all the physical assets that a company has and tracking them. Examples of physical assets are generators, vehicles, computers, or other equipment. Most often this is done by a GPS tracking system, a bar code scanner or a RFID (radio-frequency identification device). Asset tracking is a good practice for all businesses, but it is becoming a necessity in some industries.

SAP asset tracking is part of Enterprise Asset Management with SAP Business Network for Asset Tracking. It is a centralized cloud-based hub using the Internet of Things (IoT) for an automated tracking solution. Asset performance is optimized by collecting, sharing, and tracking equipment usage information across a network, for collective asset management among business partners.

Key Capabilities of SAP Business Network for Asset Tracking include:

  • Cloud based deployment: The cloud has minimal IT costs, low maintenance, and security management.
  • Integration with SAP solutions: Ability to connect with other SAP solutions like SAP S/4HANA.
  • Intuitive user experience. Simplifies the user experience by the SAP Fiori user experience.
  • Collaborative partner relationships. Business partners have free basic membership to collaborate.
  • Digital vehicle hub. Across the automotive and mobility value chain, you can enable new monetization streams.

Asset Tracking is the practice of understanding all the physical assets that a company has and tracking them. Examples of physical assets are generators, vehicles, computers, or other equipment. Most often this is done by a GPS tracking system, a bar code scanner or a RFID (radio-frequency identification device). Asset tracking is a good practice for all businesses, but it is becoming a necessity in some industries.

SAP asset tracking is part of Enterprise Asset Management with SAP Business Network for Asset Tracking. It is a centralized cloud-based hub using the Internet of Things (IoT) for an automated tracking solution. Asset performance is optimized by collecting, sharing, and tracking equipment usage information across a network, for collective asset management among business partners.

Key Capabilities of SAP Business Network for Asset Tracking include:

  • Cloud based deployment: The cloud has minimal IT costs, low maintenance, and security management.
  • Integration with SAP solutions: Ability to connect with other SAP solutions like SAP S/4HANA.
  • Intuitive user experience. Simplifies the user experience by the SAP Fiori user experience.
  • Collaborative partner relationships. Business partners have free basic membership to collaborate.
  • Digital vehicle hub. Across the automotive and mobility value chain, you can enable new monetization streams.

By monitoring the condition of their assets, companies learn when an upgrade or replacement is needed to maintain productivity and have a competitive advantage. Asset tracking helps companies find better, more efficient ways of doing things. It integrates all the tracking into one interface, eliminating manual paperwork or spreadsheets.

Benefits of SAP Business Network for Asset Tracking are:

  • Collaborative asset management. Enables the ability to share best practices of optimal management.
  • Asset Management all in one place. A single repository for equipment information to enable effective management and customer service.
  • Exchange asset performance feedback. Ability to connect with manufacturers, operators, or service providers to share performance analytics.

Vendors partners for asset management are: Movilitas, SAP, Precisely, Prospecta Software

Key Considerations for SAPinsiders:

  • Capital Expenditure Management with SAP Fiori. Read the case study on how an integrated suite of SAP Fiori Apps can manage your capital expenditure from an annual budget through expenditure requests, projects, and asset capital management. The eBook shows common CAPEX challenges from companies and how SAP Fiori is a great platform for digitalization.
  • Take Asset Management Planning to the Next Level. Read the article about how companies are realizing that asset management is not just about keeping up with assets. It is about balancing cost, risk, and performance to meet the company’s overall objectives. Discover how to bring advanced and strategic views of asset management to your organization.
  • Connecting Manufacturing Products and Assets. This exclusive Q & A on loT disruption of the supply chain with SAP’s Thomas Ohnemus and Richard Howells, explains how loT can help businesses drive value from connected products, assets, and manufacturing. Discover key insights on how loT is transforming the world and how organizations should take part in this transformation.

1261 results

  1. How to Comply with the Provisions of IFRS while Recording Capital Asset Transactions in SAP ECC 6.0

    Published: 18/April/2012

    Reading time: 25 mins

    Learn key adjustments that are required to make capital asset management compliant with International Financial Reporting Standards (IFRS). See the changes you need to make in SAP ERP Central Component (SAP ECC) 6.0 while transitioning from US Generally Accepted Accounting Principles (GAAP). Key Concept An organization needs to make adjustments in accounting for financial transactions...…

  2. Inflation-Based Revaluation of Fixed Assets

    Published: 27/April/2015

    Reading time: 23 mins

    Learn the configuration done for monthly inflation-based revaluation. This configuration needs slight changes based on the frequency and inflation calculation methodology required for a specific implementation. Key Concept Inflation-based revaluation is a statutory requirement for several high-inflation countries. These countries publish an inflation index for revaluation of the fixed asset base of the company. In...…

  3. AUC with Investment Measure Using Work Breakdown Structure

    Published: 15/April/2014

    Reading time: 20 mins

    FinancialsLearn how to implement assets under construction (AUC) with the Investment Management module using work breakdown structure (WBS). Follow a detailed discussion of the settlement process. Key Concept A work breakdown structure (WBS) element with its assets under construction (AUCs) can be termed as an investment measure. In simple terms, an AUC is created to...…

  4. Allow Your Customers to Track Deliveries Online with SAP E-Commerce for mySAP ERP

    Published: 01/October/2005

    Reading time: 17 mins

    You can use two different methods to allow customers to track orders via the Web. The simplest method involves tracking orders with the Bill of Lading field and works best when all items for one line item in an order ship together in the same package. A more complex method involves the Express Delivery Company...…

  5. Asset Management

    Achieving Effective and Efficient Asset Management

    Published: 11/July/2022

    Reading time: 11 mins

    In heavy asset intensive industries from manufacturing and processing facilities through to Rail, Aerospace, Utilities, Oil & Gas and Mining operations, the largest operational expense beyond the CAPEX of building the plant resides in maintaining the equipment required to do the job. Mastering SAP Premium Access Membership Required You must be a Mastering SAP Premium…

  6. How to Set Up and Process Leased Assets

    Published: 09/December/2013

    Reading time: 11 mins

    Learn how to configure leased assets to make sure that not only depreciation is posted but also the interest and the periodic payments. Key Concept In SAP Asset Accounting (FI–AA) you can maintain several kinds of assets. One particular kind is the leased asset. Besides the standard fixed-asset functionality for this kind of asset, the...…

  7. Create Multiple Assets with Individual Characteristics in One Step

    Published: 25/September/2015

    Reading time: 7 mins

    Learn how to customize the functionality required to simultaneously create multiple assets and still be able to maintain specific data for each individual asset. Key Concept Within Asset Accounting (FI-AA), you can create one asset at a time or multiple assets simultaneously. Since the release of R/3 4.0A, SAP supports simultaneous creation of multiple assets....…

  8. 3 Ways to Ensure Accurate Depreciation Values in ECC

    Published: 15/November/2007

    Reading time: 12 mins

    The primary focus of the Asset Accounting (FI-AA) sub-ledger is to accurately calculate and track values for fixed asset records. Often it is possible that planned values stored in FI-AA do not reflect the existing system configuration and therefore are incorrect. You can use program RAAFAR00 (recalculate values) to ensure that calculated amounts are correct....…

  9. SAP S/4HANA Finance: Understand the Different Options and Nuances of Enabling Parallel Accounting in New Asset Accounting

    Published: 18/January/2017

    Reading time: 24 mins

    Learn about the configuration options available in SAP S/4HANA Finance to set up parallel accounting aligned to different accounting principles, especially when you are migrating from classic Asset Accounting (FI-AA), a parallel accounts approach, to the new FI-AA module. Key Concept The SAP S/4HANA Finance system provides a transparent, real-time, optimized IT solution for implementation...…

  10. asset accounting

    Asset Accounting for Today’s Economy

    Published: 22/July/2022

    Reading time: 4 mins

    Asset accounting is the process of tracking and recording all company assets. By tracking and recording all company assets, businesses can more easily identify the most critical investments and make better strategic decisions about where to allocate resources.  This information can help finance and accounting teams make better strategic decisions about allocating resources to improve…