Today, heavy equipment theft is rampant in North America, as the construction industry booming in Canada and the United States. Fixed assets are expensive, difficult to replace, and often not adequately protected. Insurance is available but generally does not cover the full amount of the asset. And the claim process can take weeks or sometimes months. Losing access to your asset temporarily (assuming you even get it back) means delays in your operation. Stagnant profitability and inconvenience to customers. No company can afford such losses.
Fortunately, there is heavy equipment GPS tracking technology. That can monitor your assets and can serve as protection against equipment theft. Tracking technology has been around for a long time. And can help make life easier for those responsible for your company’s heavy equipment assets. Construction equipment tracking, for example, is one of the most requested packages. as construction equipment is ubiquitous and very expensive to replace.
The benefit of reduced insurance is the most common reason. Companies choose to install GPS tracking technology on their heavy equipment. Insurance companies feel (rightly so) that companies, That go the extra mile to protect their equipment from theft deserve a lower monthly premium.
The configuration of these devices is usually very simple. All that required a physical wired connection, installed quickly and discreetly, to get your device up and running in minutes. Once up and running, your asset monitored wirelessly 24/7. If your equipment moves for an unauthorized time. The device sends an instant notification to the designated fleet manager, alerting them of the violation.
The GPS device must paired with a reliable fleet management software solution. There are many variations and packages, but ultimately, you need to choose the right software for your business. Certain factors to consider when considering fleet management software are: price, company size, fleet size, optional features, and coverage. Depending on whether or not your asset operates in an area with cell phone reception. You may need to opt for satellite coverage.
Most telematics and fleet management solutions come with many additional benefits in addition to protection against theft. They can typically measure readings for engine hours, fuel usage, oil pressure, surface temperature, and many other similar useful readings. By using a GPS tracking device, overall efficiency increased, resulting in fuel savings, a very expensive product for any business using heavy equipment. Reducing overall costs and lowering environmental emissions. You can get a great long-term return on investment by investing in such a device.
Some rental companies loan expensive generators and other heavy assets, and then bill the receiving company based on hours used. Instead of estimating how many hours used on the rented equipment, the hardware solution could accurately track and report the figure. In this way, there would be no communication problems. Billing disputes between either party, as there would be reliable data for reference.
This technology has served a number of diverse industries, including heavy equipment rental, agriculture, construction, and large fleets. It is a consensus among fleet management professionals that some type of GPS tracking. Device is a must for business these days.