What is Asset Tracking?

HomeFleet management glossaryWhat 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 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 scanning and tracking technology and are generally used for keeping track of 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 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 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. Equipment for these industries often come with AEMP (a data standard) compatotble GPS tracking devices built in. It means someone who is managing assets from several different manufacturers can easily add new tracked assets to their AEMP-compatible fleet management system and 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.


Awards and recognition

IoT Evolution Awards

Product of the Year 2021

One Planet Awards

Gold 2020

Stevie Awards

Silver 2020

IT World Awards

Gold 2020

Golden Bridge Awards

Gold 2020

G2

4.2 Star Rating

Green Industry Pros

Editor’s Choice 2019

Contractors Top 50

New Products 2019

Best in Biz

Silver 2019

IOT Innovator

Gold 2019

The Golden Bridge

Gold 2019

One Planet

Gold 2019