Find out how to decide which asset and equipment tracking solution is right fo ryour business with our Buyer's Guide.
June 13, 2019
Safeguarding assets and equipment is just as important to your fleet as protecting the vehicles themselves.
Whether your fleet consists of powered assets like tractors, bulldozers and cranes, or non-powered assets like generators, tanks, dumpsters and trailers, all equipment is crucial to maintaining operational productivity. One stolen component can lead to significant replacement costs, lost opportunity costs, unplanned downtime and customer and employee frustration. Investing in an asset tracking solution to help prevent theft and quickly track stolen equipment can make all the difference.
Safeguard assets with GPS technology
Whether standalone, or attached to a vehicle, fleet equipment requires the same protections and precautions as the cars, trucks and other vehicles within your fleet. Investing in GPS tracking technology can provide that added security for both your assets and your vehicles, whether it’s to deter thieves from stealing equipment in the first place, locate missing assets or provide an added layer of protection for drivers and employees.
With asset tracking, your fleet can reap an array of security benefits:
- Leverage geofence alerts to create a virtual perimeter
- Receive an instant alert if assets are moved outside approved areas or after hours
- Improve chances for, and accelerate, asset recovery
- Leverage instant alerts to notify the police ASAP
- If a driver steals a powered asset or vehicle connected to non-powered equipment, see which driver’s fob was used to start the ignition and give authorities their information
- Get digital backup of important equipment and asset data, so if stolen you have proof-of-ownership you can use in filing a claim
- Asset information is saved in the cloud vs. a physical file cabinet or hard drive, so it’s kept safe too
- If drivers are carjacked, they can press a panic button to send an alert to the office and police
Gain additional benefits from asset tracking
In addition to helping prevent theft and speeding in the recovery of stolen assets, asset tracking technology helps you gain better visibility into equipment, improve asset utilization and get ahead of maintenance issues. All by consolidating data from your powered and non-powered assets into a single dashboard.
Location (and added security)
- See full asset visibility, including location, current status and usage history alongside the rest of your fleet vehicles, job sites and more
- Get a single, web-based dashboard with fast search and tag filtering capabilities
- Receive immediate notification when a piece of equipment is operated during an unauthorized time period or activated off-hours
- Get instant notification if a piece of equipment is being moved or towed or if assets are taken outside of a specified geofenced area
- Overall, have the ability to locate assets and assist in theft recovery using breadcrumb tracking
- Prevent costly downtime due to breakdowns and unexpected repairs
- Schedule maintenance based on usage metrics (e.g., engine hours) for improved accuracy and efficiency of equipment
- Achieve proactive and integrated maintenance management with diagnostic alerts for when parts needs replacing
- Benefit from verified, paperless inspections that ensure all equipment is in optimal condition, thereby improving on-the-job safety, equipment productivity and overall job efficiency
- For powered equipment requiring preventative maintenance or routine fixes, get a holistic view of maintenance alerts regardless of manufacturer or age of equipment
- Identify assets that can be sold or repurposed elsewhere to ensure optimal utilization
- Track asset usage by project to improve cost analysis
- Ascertain when assets are in use if they’re being utilized in the manner in which they’re intended
- Get a centralized, comprehensive view of all data to help improve equipment utilization
- Use utilization reports to learn which pieces of equipment are being used, and how often, across various geographic locations
- Make better and more informed decisions regarding whether to rent additional equipment or simply retrieve underutilized, owned equipment from another location and redeploy it
- Consult utilization reports to see how often and how long a piece of equipment ran on a particular day or during a certain time period, and match that against work progress to identify inefficiencies
Case in point: One customer embraces secure tracking
Flex Fleet Rental is a trucking rental company based in Salt Lake City, UT, with a 1,700+ vehicle fleet that provides ½-ton and ¾-ton trucks for contractors and consumers nationwide. The company needed a turnkey fleet management system for customers that would automatically vehicles, their mileage and the health of their systems. They turned to Verizon Connect.
With Verizon Connect vehicle and asset tracking, Flex Fleet was able to use built-in telematics hardware to simplify the rental process, giving both the company and its customers access to helpful vehicle-related data. This includes truck on/off and location information, as well as more detailed information on vehicle safety attributes like excessive speeding, speeding against the speed limit and hard braking. There are also metrics directly tied to the bottom line—such as idle time and total fleet utilization.
Know what to look for in a solution
For fleets of all sizes in any industry, investment in asset tracking technology can prove invaluable to company success. They key is to look for a solution capable of addressing your unique needs.
As a guideline, be sure to look for an asset tracking platform that includes the following:
- The ability to track both powered and non-powered assets
- A platform that is intuitive, comprehensive and easy to use
- A solution that integrates with your existing technology systems, including fleet tracking and other software (e.g., OEM factory-installed telematics)
- A reliable, accommodating solution provider with a trusted brand reputation
Whether you’re in construction, trucking, field services or another industry, now is a good time to consider investing in asset management software to protect your equipment and assets along with your fleet vehicles. Learn more about how you can improve tracking and retrieval of your fleet assets with a GPS tracking solution.