What is Asset Tracking?
Asset Tracking systems help to manage equipment (generally high-value assets such as generators, tools or OHVs) using GPS asset tracking devices, barcodes or RFID tags. It is used to improve security and utilization of a company’s physical assets.
GPS asset tracking
Assets tracked using a GPS tracking device offer a greater depth of data than an asset tracking solution using QR codes, barcode and RFID tags. Barcode labels and NFC tags require specialised handheld scanners and tracking technology and are generally used for keeping track of serial numbers and IT assets for accounting or inventory management.
Assets that are tracked using GPS can transmit their location 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. Reporting rates can be set from near real-time (every 2 minutes) to hourly, daily, or less frequently check-ins 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 GPS 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 to see where your entire fleet of vehicles, people and equipment are at any time from one web based dashboard or smartphone iOS / Android app.
- Improve security with geofence alerts - know when valuable equipment leaves a geofenced jobsite so you can reduce theft and unauthorized usage of tools.
Where is GPS asset tracking used?
Industries that commonly use GPS asset management systems include construction, farming, oil, gas and mining. Many OEM equipment manufacturers such as Caterpillar and John Deere use AEMP 2.0, a common data standard, in the asset tracking technology they provide built-in. It means fleet managers can track assets from several different manufacturers using an AEMP-compatible fleet and asset management software to see all their information on the same screen.
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GPS asset tracking
With GPS asset tracking software from Verizon Connect, you can monitor equipment and on-site assets while improving security, utilization and uptime.
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.