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Top 12 Benefits of Equipment Telematics

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The increase in digitization opened many companies up to the possibility and potential of artificial intelligence, automation, and telematics.
Trackunit is one of the many reliable services combining the potential of equipment telematics and GPS to help fleet managers track their equipment better.

Data collected through telematics further aids decision-making and predictive analysis for construction and rental companies. Trackunit, a blend of both hardware and software gives an overview of its product here: https://trackunit.com/hardware-overview/.

 

To understand the full extent of what equipment telematics can do in the construction industry and off-road applications, it’s essential to look at its benefits and functionalities.

What is equipment telematics?

Equipment telematics refers to a technology that transmits data related to equipment, such as a forklift or dump truck, over a telecom network. It’s pretty similar to vehicle telematics, except that it’s employed on industrial equipment.

Equipment monitoring is the most common use case of telematics. For example, a fleet manager can track a forklift on a construction site. They can track the equipment’s engine hours and historical data to make decisions about preventive maintenance and work schedules.

Likewise, fleet managers can use geofencing to set up boundaries for the piece of equipment. If a forklift leaves the perimeter, an alert is sent to the manager, minimizing the risk of theft and unauthorized equipment use.

12 Benefits of equipment telematics

Equipment telematics can give fleet managers information about an array of data points, including but not limited to idling time, speed, equipment location, emissions, seatbelt use, fuel consumption, and poor driving behavior.

There’s no limit to how fleet managers can use this information. Some standard benefits include the following.

1. Resourceful equipment allocation

Assigning sufficient and correct equipment to a job site is an integral part of a manager’s role. When the same manager is overseeing multiple job sites, things can become chaotic.

Equipment telematics can help resolve this issue. Fleet managers can see how often a piece of equipment is used on a job site, determining the extent of its future usage.

They can also get information about idle time or over utilization. For example, if a construction use is overutilizing its equipment, the manager can shift resources from another site to where it’s needed more urgently.

Similarly, the manager can make informed decisions about adding more equipment to the fleet. Let’s say the skid steer loader has to be moved from one site to another frequently, resulting in delay. The manager can then consider buying an additional skid steer for the fleet.

2. Lower fuel consumption

Equipment telematics can tell a manager about equipment idling and irresponsible operator behavior. Managers can leverage this information to train operators, correct certain behaviors, and implement best equipment use practices on the job site.

These measures help reduce fuel consumption, resulting in lower costs and less maintenance requirements.

3. Operational efficiency

Operational efficiency encompasses everything from vehicle downtime and job duration to the amount of output produced. Telematics data from construction equipment can be integrated with operations management software, helping managers stay on top of operational tasks.

4. Fuel tax refunds

Every on-road vehicle has to pay a fuel tax, which the government uses to improve highways and other roads. However, off-road fleets and construction equipment that doesn’t drive on these roads don’t need to pay these taxes.

Businesses can get state or federal refunds by showing evidence that they are involved in off-road applications only. Equipment telematics records vehicle use and location data that fleet managers can use as evidence for tax refunds.

5. Theft prevention

Equipment theft is a pressing issue in the construction, mining, and manufacturing sectors. Most of the stolen equipment is not recovered, causing project delays, increased costs, lower profits, and client dissatisfaction.

With equipment telematics, managers can keep an eye on the on-site equipment. Geofencing alerts can also be set to trigger notifications in case the equipment leaves the premises.

6. Greater visibility

It can be hard to keep track of equipment and know its exact location on a large oilfield or construction job site. Time-consuming equipment searches can lower productivity and waste resources. Equipment telematics lets managers track their fleet in real-time to prevent project delays.

Since most of these tools have a single dashboard for the whole fleet, managers have better inventory control. They can also reduce unnecessary equipment movement to save fuel and money.

7. Data-driven bidding

When bidding on a construction project, you must account for all factors contributing to the project cost and timeline. Equipment telematics makes accurate bidding easier since you can use historical data to deduce operational costs.

As a result, you have a higher chance of winning projects. You can also ensure timely project completion while staying within your budget.

8. Data accumulation

Fleet management comes with an admin-centric side that deals with things like payroll, usage reports, compliance checks, etc. Telematics systems help managers collect relevant billing, reporting, and compliance data.

9. Regulatory compliance

Speaking of compliance, equipment telematics can help fleets stay compliant with federal and state regulations. These systems have capabilities that track hours of service, vehicle idling, driver behavior, and engine diagnostics.

Fleet managers can use this data to prove compliance. In some cases, video-based telematics also helps managers get their drivers out of false accident claims.

10. Low insurance premiums

If you have auto insurance, you’d know that insurance companies offer lower premiums for cars with modern safety features and GPS tracking. The same is valid for equipment too.

Plus, telematics systems amp up equipment safety, ultimately reducing the number of insurance claims you make. Your drivers also end up in fewer accidents since you can correct erratic operation early on and schedule timely repairs to prevent vehicle malfunctions.

11. Efficient equipment dispatching

When working on a large job site, managers often have to dispatch equipment to areas where they’re required. Since telematics assists in route optimization, you can get the right equipment to the location quickly.

12. Workload automation

Still doing payroll manually? Are you spending hours on paperwork? With the right telematics system, you can automate these processes.

Equipment operators can be trained to log their hours of service, which the telematics solution will then upload to the cloud, where it’s automatically processed for payroll.

Similarly, managers can use radio-frequency identification tags and scanners to monitor deliveries of necessary materials to job sites. The data is stored on a secure cloud, allowing you to see the types of loads lifted, the equipment’s location, and the operator handling the equipment.

Final words

As you can see, equipment telematics can add a lot of value to your off-road or construction business. If you use a fleet management solution that supports telematics, you’re all set to take your business to the next level.



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Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


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