A tool, network and method of asset data updating is provided. The tool comprises: a portable computing device capable of wirelessly receiving a GPS location and updating of asset data including, among other things, asset condition and/or GPS location. The tool may also comprise knowledge based software capable of time tracking, work order management and billing. The knowledge based software may be provided alone or in combination with the asset updating. A network capable of wirelessly communicating with the tool is discloses as is a method of using the tool.