What is Asset Tracking?

HomeGlossary of fleet termsWhat is Asset Tracking?

Asset Tracking systems help to manage equipment (generally high-value assets such as generators, plant and tools) using GPS asset tracking IoT devices, barcodes or RFID tags. It is used to improve security and utilisation of a company’s physical assets.

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GPS asset tracking

Assets tracked using a GPS tracking device offer a greater depth of data than barcode and RFID tag based asset tracking systems. Barcode labels and RFID asset tags require specialised barcode scanners and are generally used for keeping track of IT assets for accounting or inventory management in the manufacturing supply chain and healthcare industries.

Assets that are tracked using GPS can transmit their location data using mobile phone or satellite networks, or a combination of the two (known as dual-mode) to make sure reporting is not interrupted when equipment moves outside the cellular network.

GPS asset tracking devices can be self-powered (with long lasting batteries) or hard-wired into the asset’s power source. GPS tracking devices can be set to check-in in near real-time (every 2 minutes) or hourly, daily, to less frequently depending on use case or need for extra long battery life.

GPS asset tracking software then visualises that data on a map and can provide additional reporting and alerts to help locate, maintain and secure your valuable equipment.

Benefits of asset tracking

Asset tracking systems help in a variety of ways to directly impact your bottom line:

  • Improve maintenance schedules - engine hour alerts can let you know when a generator is in need of preventive maintenance and help extend it’s lifecycle.
  • Reduce downtime - understand if your equipment is sitting idle while on the worksite so you can make sure you have the right assets for the right job.
  • All your asset data in one dashboard - combine your asset tracking system with GPS vehicle tracking functionality to see where your entire fleet of vehicles, people and equipment are at any given time from one web based dashboard or mobile app.
  • Improve security with geofence notifications - know when valuable equipment leaves a geofenced jobsite so you can reduce theft and unauthorized usage of tools.

Where is GPS asset tracking technology used?

Industries that commonly use GPS asset management systems include construction, farming, manufacturing and mining. Many OEM equipment manufacturers provide AEMP-compatible asset tracking technology built-in to new plant and equipment. AEMP is a data standard that is adhered to by manufacturers such as Caterpillar, John Deere and Komatsu. It means fleet managers can easily track assets from several different manufacturers can use an AEMP-compatible fleet and asset management software solutions to see all their asset information on the same screen.

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GPS fleet tracking

GPS fleet tracking

Our GPS fleet tracking software monitors your entire mobile workforce with increased visibility through our easy-to-use dashboards, detailed maps and apps.

GPS asset tracking

GPS asset tracking

With GPS asset tracking software from Verizon Connect, you can monitor equipment and on-site assets while improving security, utilisation and uptime.


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One Planet

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