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Benefits of Asset Tracking Software

By Verizon Connect October 18, 2022

Assets like trailers and heavy equipment are one of the most expensive investments a company can make to conduct business. That is why more companies are taking an extra step to protect that investment by implementing a modern asset tracking solution to help them manage and monitor their physical assets, both powered and non-powered, in near real-time. 

Installing a small GPS tracking device on physical assets provides visibility into that equipment from virtually anywhere, at any time. Asset tracking software operators and managers can view things like location, the last time it moved, and battery status. In turn, asset management software helps improve the lifecycle of valuable equipment and its efficiency and utilization.

Asset data is consolidated in one central place.

Typically, businesses that utilize heavy equipment and machinery have purchased this equipment from different suppliers and at various times in their company’s lifecycle. They likely have a variety of equipment makes, models and manufacturers. While some of this equipment may have a telematics system already installed from the original manufacturer, it can be difficult for equipment operators and managers to rely on or fully utilize this disparate data from multiple sources in an effective manner. 

Modern asset tracking software integrates with systems already in place and consolidates that data in one central location. As a result of this streamlined approach to asset management, equipment managers can quickly gain insight into their assets’ location and status from one dashboard on their computer or smartphone.

Improved efficiency and utilization are achieved with tracking software. 

With asset data housed on one central platform, businesses have greater visibility into their asset inventory and utilization. In nearly real-time, asset managers can detect underperforming assets and track asset usage by project type to improve cost analysis. By leveraging this data, businesses can easily identify underused assets that can be sold or repurposed. This enables a healthier return on investment.

Asset tracking software increases equipment longevity and enhances security. 

Maintenance management and scheduling can be cumbersome with outdated or paper-based processes. Asset tracking software can transform this logistical nightmare into a simplified process that saves both time and money. The software monitors the health of the asset by tracking usage and efficiency. When routine maintenance or a repair is needed, the software alerts the operator or manager. As a result, equipment breakdowns are reduced, and the lifecycle of the asset is extended.

Powerful asset tracking software can also enhance the security of powered and non-powered equipment. With a defined geofence, which sets a virtual perimeter for the asset, the software sends an instant alert if an asset is relocated outside the approved area or if it is powered on after an authorized time. These real-time alerts significantly improve the chances of timely asset recovery.

Is it time to upgrade your asset management solution? Check out our buyer's guide to learn what to look for in an asset tracking solution.

Asset tracking software at-a-glance: Tips for improving delivery timelines with GPS trailer tracking. 

It’s no secret that the COVID-19 pandemic created a massive hurdle for the world economy to overcome. Supply chain issues became a major challenge for many businesses, causing a delay in delivering goods to consumers. As the world supply chain is slowly returning to normal, it is now more important than ever for businesses to meet customer expectations regarding delivery timelines. Using powerful asset tracking software, like the GPS trailer tracking solution offered by Verizon Connect, companies can provide their customers with timely updates. 

For instance, businesses can validate their shipments are safe and quickly view their assets 24/7 using a live map view from their smartphone or computer. Geofence alerts and location reporting provide businesses with location and usage history. GPS trailer tracking makes it easy to locate lost equipment and improves the utilization of various trailer types, including flatbeds, dry vans, tanks and shipping containers. In the end, businesses can keep their customers entirely up to date with their shipment status so they can have a reliable view of when to expect their delivery.

Asset tracking software promotes a healthy ROI.

The investment in powered and non-powered assets is one of the top expenses for many businesses. In order to get more out of that investment, it’s essential to have a modern asset tracking system in place. It not only streamlines the critical data from all assets into one centralized location, but it also helps to improve the longevity, security and utilization of assets. Robust asset tracking like the GPS trailer tracking offered by Verizon Connect has proven to be a game-changer during challenging times like the current supply chain slowdowns. 

As always, it’s crucial to find the right solution for your organization's needs. Learn more about how Verizon Connect is experienced in helping construction businesses in a wide range of industries track and manage their high-value assets with their powerful GPS Asset Tracking Software.

Verizon Connect

Verizon Connect Staff represents a team of professionals passionate about everything telematics. Get to hear about the latest trends, product features and industry best practices from the desk of Verizon Connect Staff.

Tags: Cost control, Data & Analytics, Dispatching & Scheduling, Field management, Productivity & Efficiency, Revenue & ROI, Vehicle & asset security, Vehicle Maintenance

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