The Advantage of Using GPS Trackers for Your Equipment

Many companies and organizations use GPS technology to track their vehicles. Fleet tracking allows for better management of vehicles, such as efficient route-planning, theft prevention, and monitoring employee behavior. However, GPS tracking doesn’t only have to be used for large objects that move around a lot. 

If you operate a construction company or other business that has equipment at several job sites, you’ve probably suffered losses in the past. In fact, construction companies alone lose up to $1 billion every year to theft and loss of heavy equipment. GPS makes it easier to track stationary but expensive equipment such as fuel tanks, signage, containers, trailers, generators, and pods, just to name a few. 

How Do GPS Trackers Work?

When it comes to vehicles, GPS technology is used to track movement and help find more efficient ways of moving them around. For equipment, the focus is primarily on theft prevention. Equipment tracking devices are installed into any items that you want to protect. The devices then transmit location information to a database. You can easily bring up reports and see where your equipment is, and where it has been. This will prevent theft, but also prevent improper use of equipment. This device can also track how long the equipment was used, if the operator has gone over time, and provide alerts for mechanical issues or movement from a location. Here are some of the main benefits of using GPS to protect your equipment. 

Equipment Tracking

The primary function of a GPS tracking system is to monitor the location of assets. Your equipment should remain fairly stationary once it’s installed on a job site. GPS technology will ensure that you will know if it has been moved. You can get alerts if equipment leaves a certain area, and see past locations to make sure it has not been used improperly, such as by an employee on the weekend. 

Equipment Usage

Along with tracking the location of equipment, you can track when and how it’s used. Is it being run all day? Are operators running equipment past hour overages? You can track all of this to make sure that equipment is being used properly and efficiently. GPS trackers can also incorporate maintenance data so that you won’t miss regular servicing whether your schedule is based on time or hours used. This will help you cut down on repair costs, since you can make sure that your equipment is properly maintained at all times. 

Less Liability and Lower Insurance Costs

Your equipment is made up of valuable assets that you need to run your business. They should all be protected by insurance coverage in case of damage and theft. Insurance companies offer discounts for equipment that is protected by GPS. The reason for this is that your equipment is less likely to be stolen and less likely to be used improperly leading to damage. It can also help with safety liability. Your operators will not be able to go over the hours maximum and use equipment when they are tired. You will be less liable in case of any incidents, plus your premiums will be lower. 

Better Record Keeping

As a business owner or manager, you should be constantly looking to be as efficient as possible with your investments of time and money. Record keeping can take up a lot of time doing work that can be handled automatically. GPS tracking automates your record keeping related to your equipment. All of the data that the GPS devices track can be exported into reports that are easy to read and can be used to make future decisions about your equipment. You can spend more time focusing on your core role at your business and less time worrying about record keeping. 

Higher Profits

Let’s face it, you are in business to make money. The more you make and the less you spend, the better off you will be. GPS tracking of your equipment will make your business more efficient. You can work on improving downtime, reducing overtime, repair costs, and loss from theft. Being more efficient with your equipment usage will also reduce fuel costs. By cutting in so many places, your balance sheet will look a lot better every quarter. 

Your business has many assets. Some of the most valuable ones are equipment that you use to do your work every day. As with any other asset, you need to do your best to protect your equipment from theft, damage, and breaking down. With GPS tracking you will know exactly where everything is at all times, and track how efficiently everything is being used.