Did you know that asset misappropriation is the most common scheme for defrauding employers? In 2020, it appeared in 86% of employee theft cases globally.
Theft affects small businesses and large corporations alike. That’s where GPS tracking comes to the rescue.
This technology helps managers and employers track their assets, from small equipment to a whole fleet of trucks. If one goes missing, they can easily track it.
However, it’s not the only benefit of GPS equipment tracking. Keep on reading to learn more about how you can use it for your business.
Set Up Geofencing
Geofencing allows you to set up virtual “fences,” which can be as small or as big as you want. Paired with a GPS tracker for equipment, it alerts you every time a specific asset passes the perimeter.
Many companies use this technology to ensure their assets are where they need to be. If they receive a real-time alert, they can take action quickly.
Some companies also use the same feature to track their equipment. They get valuable data to calculate an estimated time of arrival. Click here to learn more.
Keep Track of Equipment Data
Aside from the location, do you want to know more about your equipment? You can learn more about its condition by using a GPS tracker.
An example of the implementation of this feature is vehicle maintenance. You can use your equipment tracking system to track mileage, for example. It can send alerts when you need to service the truck.
Use a solution to gather data from the engine, drivetrain, and other parts. It provides more visibility on your operations. You can get information like hours of service, severe braking instances, speed, and more.
Avoid Wasting Resources
Many companies are still using manual methods to track equipment. Their employees have to check in with other departments, call a bunch of other people, and pore over spreadsheets.
These manual methods consume time and waste resources. It leaves too much room for human error, as well.
When using equipment tracking devices, you get real-time data about your assets. You can also automate other processes, such as finding the most optimal route for a delivery truck or alerting about low inventory.
Improving your processes also boosts the safety of your most important asset – your people. Properly maintained equipment, for example, is much safer to use. Not to mention it operates more efficiently, too.
With trucks, the system can send alerts about speeding and risky maneuvers. These are common issues among drivers. In 2020, those driving at excessive speeds jumped up to 9.6%, jeopardizing the safety of the driver, other passengers, the vehicle, and the goods they’re carrying.
You can also install AI-enabled dashcams. They give you more visibility on tailgating and red-light violations. With this data, you can improve your safety measures to take care of your staff.
Get the Best GPS Equipment Tracking Solution Now
Almost every industry can enjoy the benefits of a GPS equipment tracking system. It can help you improve efficiency, productivity, and safety. Regardless, get the best GPS tracker for equipment for your business.
Did you find this guide helpful? To learn more, feel free to check out our other posts.