As you grow your company, there’s usually a rise in the number of assets you must gain and manage.
When there’s growth and expansion, you should set up systems that use GPS devices to enhance equipment tracking and management.
It increases business efficiency to help asset managers keep track of a large inventory, including freight they receive, items they deliver, rental equipment, and rental vehicles.
If you’re manually keeping track of cargo, equipment, or large fleets, here’s the information about asset management and tracking that you should know.
What is Asset Management?
Asset management is a term used for the method of tracking physical vehicles and equipment.
Tracking these items is instead a management system allowing companies to manage the usage and location of their equipment.
What is an Asset Tracking System?
Asset tracking is the process where you track physical assets using multiple devices. In this post, we’ll mainly focus on GPS tracking devices and their use in avoiding theft.
You can use GPS asset tracking devices for location tracking and remote monitoring by attaching items to physical equipment. It helps business owners and fleet managers know the actual location of their vehicles and equipment.
If you are a fleet owner, your vehicles may be at constant risk of theft from the moment you purchased.
Whether you have parked it in a locked garage or a field, your valuable vehicles are at risk, and only GPS-enabled assets trackers can reduce the risk.
How can GPS asset tracking systems help
There are multiple benefits linked to integrating tracking solutions and equipment management into your business’s daily operations. The following are some:
Asset tracking systems are the time savers. They eradicate the need for manual management and tracking activities. Also, these systems let you remotely determine when specific equipment is not in use.
Improvement in Bottom Line
The asset tracking system is used to help businesses generate revenue in one way or another.
Although, if there’s an item that is not in use, you can decide whether you want to use it or discard it. You can also choose to upgrade or find other ways to boost its ability to revamp the bottom line.
Improved items’ management for customers
If you’re handling or transporting customer’s products, an asset management system will help you upgrade these operations while enhancing management and accountability.
Theft is always a constant risk, but you can reduce it with GPS asset trackers. Quick notification is another crucial benefit that these systems offer. The notifications include:
- The driver reports a stolen vehicle
- Implementation of an automated geofencing strategy
- a vehicle alarm for asset trackers’ communication system to send a notification via text message
This function helps you set a virtual perimeter for every vehicle in your fleet. A notification will go to your fleet manager if the vehicle leaves that zone, which allows them to take action and stop the theft during its progress.
You can temporarily set geofences anytime using a mobile app or select the storage location at your company warehouse or the driver’s home.
Safety is the priority for a fleet business
While we would like to think that thieves have become more advanced, and that is why more vehicles are being stolen despite their advanced capabilities, this is not the case.
Thieves have become more alert, and that’s why they can steal vehicles with so much ease regardless of their ultra-modern capabilities.
Nearly one-half of the vehicles stolen are due to the drivers’ irresponsible behaviors. Sometimes, they leave a running car to attend to a customer or don’t lock its doors and windows before leaving it.
These actions may not seem harmful, but it allows thieves to run away with the vehicle, modify it, or unassemble it to sell spare parts.
Using GPS asset tracking system , you’ll have a backup system even if the drivers forget to lock their car, helping you stop the theft or recover your belongings.
It’s a driver’s responsibility to avoid theft while they are in service, but asset trackers can help stop robbers and retrieve your expensive vehicles if they make a mistake.