Telematics systems are a great way to keep fleets ELD compliant, safe, and efficient. Modern fleet tracking devices provide insights into driver behavior, vehicle diagnostics, and more. The benefits are innumerable, especially if you have a large number of assets. But many of these systems are focused only on company vehicles. So what do you do if your assets are not frequently moved? What do you do if your largest concern is theft of large equipment? A GPS tracker for your assets might be the answer.
Heavy construction equipment losses equate to $300 million to $1 billion in the United States annually. Your assets are worth too much to leave to chance. GPS tracking for construction equipment can protect you where your insurance won’t or can’t. In addition to construction equipment, GPS can be used to track other expensive equipment. This includes:
- Fuel Storage Tanks
- Roadside Signage
Read on to learn what heavy equipment GPS tracking devices can do for your business.
What Is GPS Asset Tracking?
For assets such as forklifts, tractors, and heavy equipment, GPS tracking is different. For assets, the greatest concern is theft. When heavy equipment sits around, either on a job site or in a warehouse, theft is far more possible.
Asset tracking is similar to GPS tracking for fleets in that you install a device in the asset. That device then transmits information to software and organizes it into easily-readable reports. Just like fleet tracking GPS systems, asset GPS operates using satellites. Both devices can identify improper use, theft, and real-time location. A GPS tracker for heavy equipment allows asset managers to monitor utilization. They are able to monitor overuse or determine whether an asset is rarely moved. Also shown is the run time for equipment, and where each asset is at any given time. This is obviously the largest benefit of these telematics systems. However, there are other advantages of GPS asset tracking. The following are just a few:
- Monitoring equipment usage
- Recording start and stop times (helpful for billing or bidding)
- Alerts for unauthorized usage
- Alerts for operator hour overages
- Alerts if equipment is moved out of designated authorized areas
- Reports for operator behavior (i.e. rough driving identification)
- Preventative maintenance with automated service alerts and diagnostics
- Mechanic issues reports
- Dispatch optimization
- In-transit alerts when equipment is moving from one site to another
Benefits of Equipment GPS Asset Tracking
Equipment GPS tracking can help you grow your business in several ways. The largest advantage of asset tracking is greater visibility. Not only are you able to see where your equipment is at all times, but you’re also able to monitor how assets are used. This means you can track the use of fuel. You’ll also be aware of any inappropriate use of assets, including use beyond permissible hours of operation.
Greater visibility improves your ability to manage remote construction sites. Asset GPS also helps ensure safety and productivity in areas with a poor connection.
Visibility is the greatest benefit, however it isn’t limited to the examples above. Instead, it ties into every other advantage of GPS tracking. See how below.
GPS Technology Improves Your Business
Technology provides several beneficial capabilities. These continue to become greater as technology improves. But as it does, it begins to affect more industries than before. Originally, GPS tracking was only for trucks, semis, and fleet vehicles. Now it tracks large assets in all sorts of industries as well. The assets within the construction industry (for example) are expensive and specialized in their tasks. In other words, they require specific maintenance and monitoring to maximize efficiency. Since they are so specialized, they often sit in remote locations for long stretches of time. This makes them much easier targets for fuel theft, part theft, and damage. GPS asset tracking for heavy equipment provides insight into maintenance needs and misuse.
With GPS software, you can manage your fleet's productivity. The software allows users to set specific rules or limits for each asset. Typically this includes areas of operation and hours of permitted use. GPS devices give you insight into productivity by monitoring the use of your equipment. From this, you are able to make more informed decisions about the efficiency of your operation.
Reduced Liability & Insurance Costs
Most insurance companies currently offer discounts to consumers that use vehicle monitoring devices. For regular drivers, this typically monitors speed and driver behavior. For fleet businesses, monitoring is a bit more comprehensive and discounts may be greater. Any tool that provides monitoring and improves safety is favorable in the eyes of insurance companies. You’ll gain even more favor with a device that can alert you of improper use and track your assets in real-time. One company, Acree Air, can attest to the insurance cost savings they obtained by using a GPS tracking system from Azuga.
In the case of an accident, this data can also protect you against lawsuits or fault accusations. It can reduce your liability, both for accidents as well as worker's compensation.
More Efficient Record Keeping
In business, the goal is always to be as efficient as possible. This applies to record keeping just as much as any other task. Asset and trailer tracking make your business more efficient by automating your records. Fleet managers use the software to schedule service, track productivity, and record vehicle information. This data is automatically imported into readable reports. These will help you make informed decisions for your business. You'll spend less time on administrative duties and more time progressing your business.
Making your business more efficient reduces the time and money spent on administrative tasks. Monitoring productivity helps you make improvements in training, workflow, and asset allocation. You’ll also reduce overtime, downtime, and maintenance costs. And the biggest booster to your bottom line is the avoidance of lost fuel and stolen or damaged equipment.
Tracking equipment improves the efficiency of your business, reduces liability, and saves money. Get fleet GPS tracking for trailer and heavy equipment from Azuga. We offer real-time fleet tracking, dash cams, and eLogs to help you improve your business. See what Azuga Asset Tracking can do for your business.