“What are the benefits of a GPS tracker for equipment?” This is one of the most asked questions we get. Not surprising as you weigh your options against other tracking technologies and want to understand the benefits of GPS.
Benefits of GPS Trackers for Equipment
The largest advantage of equipment tracking, and equipment management is greater visibility. Not only are you able to see where your equipment is, but you’re able to monitor how assets are being used or not used.
Greater visibility improves your ability to manage job sites no matter where they are located. GPS tracking also helps to ensure safety, reduce theft and monitor productivity.
Measure Utilization & Reduce Maintenance Costs
When you use GPS trackers, depending on the type, you can also get a lot of data! With this data, you can see whether a piece of equipment is in use or is sitting in a yard. In addition, you are able to monitor engine hours as well as implement an automated preventative maintenance program automated by telematic data that is pulled from a GPS tracker that plugs into the vehicle or piece of equipment. This gives you better control over managing your equipment fleet and helps to eliminate surprise maintenance needs.
The benefits of technology features and functionality continue to become greater as technology evolves. . Originally, GPS tracking was only for trucks, semis, and fleet vehicles. Now GPS tracking is used to track large assets in all sorts of industries. The assets within the construction industry (for example) are expensive and specialized in their tasks. In other words, they require specific maintenance and monitoring to maximize efficiency. GPS asset tracking for heavy equipment provides insight into maintenance needs and misuse.
Reduced Liability & Insurance Costs
Many insurance companies currently offer discounts to customers that use vehicle monitoring devices, like GPS fleet trackers. These typically monitor speed, hard breaking and other driver behaviors. Anything that provides monitoring and improves safety is favorable in the eyes of insurance companies. And many companies have instituted Driver Scorecards as part of their safety programs.
In the case of an accident, this data can also protect you against lawsuits or fault accusations. It can reduce your liability, both for accidents as well as worker's compensation.
Anytime a process is automated, like location information or telematic data from a GPS tracker, there is a reduction in paperwork. This takes time whether you have a small fleet or a large one. You do not need to manually locate each vehicle or call around to find a piece of equipment when you are tracking them with GPS devices. You will know where they are without the busy work of hunting them down.
When your equipment is optimally performing, utilization is improved and there is a reduction in administrative tasks, you see savings. Jobs could be more profitable as you are able to make better rent/own/move decisions. Maintenance is easier to plan for and with fewer surprises, you won’t need to pay of an unplanned rental or incur downtime on a job site. Lastly, people’s time is saved. And, in construction if you are saving time you are saving money.