5 Reasons you should be GPS Tracking your Assets
19 Apr 2011 Jason 0
Hooking up your equipment to a GPS tracking device seemed like something straight out of a spy novel a few years ago and only used when the asset was something related to national security.
But as GPS technology has progressed, devices have become more affordable and freely available so assets of all types are being tagged with GPS units. GPS tracking software used to track the units are also a lot more powerful and user-friendly, making them a far more valuable investment for businesses of all sizes.
Why GPS track your assets?
Here are five good reasons why you should invest in GPS tracking for your business assets:
- Recover stolen gear fast – Sometimes it’s not just the hassle of replacing stolen equipment that makes theft so inconvenient to a business; it’s the downtime in between losing it and getting a replacement. It’s particular more painful when that piece of equipment is critical to the day-to-day operation of the business. With GPS tracking an asset’s exact location can be provided to the authorities for immediate recovery and a business can get back to making money.
- Improve asset utilization – An asset is an investment and when it’s sitting idle it’s giving the business zero return. GPS tracking can highlight assets being underused, which can then either be put to work or sold off.
- Reduce insurance costs – GPS tracking is considered as an anti-theft device by most insurance companies and they offer a discount on premiums for it. In addition, by recovering stolen equipment yourself (using GPS tracking) you reduce the number of claims you make, cutting insurance premium and excess costs.
- Accurate billing – When assets are rented out (either to customers or internal cost centers) GPS tracking can monitor hours of actual use and this can be used to prepare accurate billing and costs, as well as better quoting for new jobs.
- Higher visibility – Asset tracking can be setup to give you real-time reporting with location and status updates sent every two minutes. This can make management far more effective and make it easier for dispatch, such as when a new job requires specific assets that need to be located quickly.
Asset tracking growing in popularity
There are more and more businesses that are realizing the benefits of asset tracking, such as when recovering stolen property, and finding the initial cost is being offset by savings made. Some are finding they can now spend less on other security measures, such as night patrols or camera surveillance, because GPS tracking is taking its place, providing a more cost-effective solution to looking after their assets.
So whether you’ve got powered assets (chippers, Bobcats, generators etc.) or non-powered assets (trailers, cargo or remote workers even) you can improve their safety and security, and manage productivity a whole lot better with asset GPS tracking.
Tracking units are small, portable, waterproof, shockproof and many have extended battery life (some up to seven years, which is ideal for non-powered assets in very remote locations). They can also be used outside of cellular networks offering an even greater range and versatility.
If you want to know more, get in touch with a GPS tracking firm like Telogis who can help you decide what’s best for your fleet.
Categories: Consumer GPS