Thousands of fleets use GPS fleet tracking to make their company more efficient and safe. But fleets aren’t the only assets you may want to track. Your company may have dozens or hundreds of heavy equipment assets. They may be generators, shipping containers, or tractors. No matter what these large assets are, it’s important that you know where they are and when they’re on the move. This is especially true if they’re spread across multiple locations. Equipment tracking is the perfect solution. Below we’ll cover the benefits of asset tracking, and how to implement it to cover your company assets.
What are the Benefits of Fleet Equipment Tracking with GPS?
Tracking fleet equipment with GPS grants you real-time visibility into your operations, equipment, and assets. Asset tracking is a solution that enhances every aspect of fleet equipment management giving you the opportunity to lower your costs, downtime, and time spent on administrative duties. It improves your overall fleet efficiency and increases productivity. But that’s not all it can do. Take a look below to see the benefits of integrating telematics into your operations.
- Greater Visibility in Operations Management
- Geofencing to Deter Theft & Unauthorized Use
- Simplify Business
- Save Money
Greater Visibility in Operations Management
If you have a lot of equipment stored at multiple locations, it can be difficult to know what you have. It’s even harder to ensure you divide your resources appropriately. Asset tracking allows you to see where your equipment is at all times. With visibility into your operations, you’re able to enhance your fleet's productivity. Tasks such as delivery scheduling, pick up, and maintenance become far more efficient.
Asset tracking also grants visibility with geofencing. Geofencing tells you exactly when an asset leaves its designated area. The reporting aspect adds an important layer of protection and control to your fleet.
Geofencing to Deter Theft & Unauthorized Use
If you’re a heavy equipment fleet manager, you know what a challenge it is to keep track of your inventory. This is especially true if you have a large fleet, and it’s spread across multiple locations. Traditionally, equipment management meant pen and paper records. This poses many challenges, including a lack of insight into theft or damages. U.S. businesses average $1 billion in losses for stolen equipment, according to the National Equipment Register. The average loss of a single piece of equipment costs around $29,258. When equipment is stolen, authorities only recover it an average of 20% of the time. Geofencing solves this issue, and much more.
Geofencing provides alerts in advance of asset arrivals. This is helpful for organizing unloading. But this feature also alerts you to unauthorized use of your equipment. Anytime your asset leaves the custom pre-defined zone, you receive an alert. You receive a similar notification if the asset moves outside of authorized times of use. In the case of a theft, set the tracking hardware to ping once per hour to assist authorities in asset recovery.
Many aspects of business, such as construction sites, change over time. These periods of time are often very short. In that time, you may have to move porta-potties, excavators, trailers, and much more. Deploying asset tracking helps to make these transitions less confusing and hasslesome. It also ensures you have the right assets in the right place at the right time. GPS tracking gives dispatchers the ability to guide workers, even from off-site. Geofencing alerts also notify you when your incoming equipment is on the move. This allows you to prepare ahead of time so you no longer have to sort out the details as assets arrive.
Asset tracking simplifies yard checks, inventory management, billing, insurance documentation, and much more.
Alerts and reporting offered by an equipment tracker prevent theft and unauthorized use. Unauthorized use depreciates the value of equipment and increases maintenance costs. And as mentioned above, the average cost of equipment loss due to theft is $26,000. Asset monitoring helps you avoid theft and unauthorized use and resulting costs.
Another benefit of tracking technology is lower insurance costs. Insurance companies take asset tracking and theft prevention into account when determining premiums. Having these measures in place will decrease your likelihood of a claim. Insurance companies will see you as a lower risk. With lower risk comes lower insurance premiums.
Asset tracking has many benefits. The largest being that your organization runs smoother and with greater efficiency. But how does asset tracking work? We’ll cover that below.
How to Track Equipment in a Company with a Lot of Assets
Construction equipment fleet management is no easy task. But with asset tracking, it’s much simpler. There are many companies that offer asset tracking but they typically use barcodes and scanners to achieve this. This means managers or their employees have to manually scan in and out each piece of equipment. A more optimal solution is a GPS asset tracking device that utilizes cloud-based applications. This allows for real-time monitoring, operations management, reporting, geofencing alerts, and much more.
In this system, there are two different devices. The first is the Azuga Long Life Asset Tracker and the other is Azuga’s Rechargeable Asset Tracker.
Long Life Asset Tracker for Long Deployments or Non-Powered Assets
The Long Life Asset Tracker works best for long deployments or non-powered assets. This may include tanks, trailers, containers, or porta-potties. This tracker can operate for up to 5 years on a single charge if you only require one location report per day.
Rechargeable Asset Tracker for Powered Asserts
This device is six-month rechargeable hardware that’s best for tracking powered assets. This may include generators, powered signs, and portable lights. Anything that sits for a long period of time can benefit from this hardware.
Both trackers combine with fleet monitoring software to offer reporting and control. You’ll be able to keep tabs on all of your assets at all times, whether the equipment is stationary or on the move. You’ll receive all the data on a fleet dashboard. This allows you to make adjustments, view your assets and reports, and so much more.
As a heavy equipment fleet manager, we know you’re busy. Spending all day tracking down assets isn’t feasible. Asset tracking gives you insight into your fleet at all times with a single glance at your mobile device. It provides you with updates when your assets are on the go, even when they shouldn’t be. And, it decreases your costs, improves your fleet’s efficiency, and increases productivity.