A leader in IT asset management, Absolute Software recently added Geofencing functionality to their premier asset managing Computrace Complete software application .

If you're not familiar with geofencing, it's basically a virtual perimeter (geofence) that's setup to encompass a designated geographic area in order to track the movement of geofencing ready devices using GPS or Wi-Fi Technology. When a device enters or exits the predefined area, a notification alert is triggered.

In bundling geofencing into their Computrace software package, Absolute software now allows users to create predefined geofences using internet maps, with these areas being as small as schoolyards. Along with this, Absolute incorporated the ability to apply usage rules to the assets within a given area through the Computrace interface. A school administrator for example, could set all the netbooks for a given school to be out of the school's geographic area for a 48hr holiday weekend period, after which a notification is generated for any netbooks exceeding the rule. This potential applications of this product for schools and private companies alike, is enormous.

It retails for $52.95 a year, with quantity discounts available.