At present, we are more interconnected than ever. This is transforming businesses in various sectors, be it construction or logistics. However, the more technologies emerge, the more there is a risk of asset (vehicle, machine, expensive item, etc) theft, misuse, and other issues. Thus, managing and protecting your valuable assets is crucial for your business.
So, what’s the solution? The answer is to begin using GPS asset trackers. These devices can keep track of your asset, no matter where it is transported. In this article, you will learn about the seven significant advantages using GPS asset trackers brings that boost your business efficiency.
But before that, let’s learn some basics.
What Does a GPS Asset Tracker Mean?
GPS asset tracker is an advanced system that remotely monitors assets’ positions. It also provides real-time updates of the asset’s location and periodically provides precise geographical information about its surroundings. Thus, you can monitor your equipment, vehicles, or high-value items.
Here are critical features of highly efficient GPS asset trackers:
- Comprehensive Asset Monitoring: Real-time GPS tracking allows you to continuously monitor your valuables and always see their precise location.
- Geospatial Boundary Delineation and Notification: You can predefine virtual perimeters for your asset and receive immediate alerts when it passes across the designated zones.
- Historical Trajectory Analysis: Use saved tracking data to examine your asset’s past movements in depth. Gain insights into asset behaviour patterns and optimise navigational strategies for forthcoming deployments.
- Tailored Notification Delivery: Receive timely alerts for unauthorised asset relocation, low battery indications, or other difficult circumstances through personalised warning messages.
- User-centric Interface Design: A good tacker has an intuitive user interface that can facilitate the effortless supervision of your entire asset portfolio.
How Does a GPS Asset Tracker Work?
The device captures signals from various satellites orbiting around the Earth. These signals show the exact positioning of the satellites and the time of transmission. The GPS asset trackers apply a triangulation method to identify the live location. In this method, the tracker calculates its distance from at least three satellites to give accurate location data.
It includes complex arithmetic equations to ensure the values provide a high level of accuracy, usually within 2-3 metres. After pinpointing the location, the GPS asset tracker sends this data to a controlled room. Now, the device considers the specificity of its usage and environmental conditions and transmits signals across different communication networks. These include cellular networks, satellite communication, or WiFi.
GPS Asset Trackers Advantages
Now you know the definition of a GPS tracker and how it works. Also, you skimmed through its features above. But how can you get the most out of these features? This is where you must explore the benefits your business will receive after using this device.
These are as follows:
1. Increase in Security and Theft Prevention
By installing a GPS asset tracker, you can significantly increase the security of your assets. These devices make use of real-time location to monitor the assets continuously. If it is unfortunately stolen, accurate tracking features allow swift action and the ability to locate your asset quickly.
2. Better Asset Management and Utilisation
Effective asset management is essential to maximise your business operations. You receive highly specific insights from GPS asset trackers into how assets are being used. These devices collect such information and provide you with a comprehensive overview of asset movement and status. This way, you can quickly plan and decide where to allocate your assets.
Once you analyse this asset utilisation, you can carry out maintenance scheduling much better. This way, you will know when to replace ageing or under-utilised assets. It ultimately boosts the productivity and efficiency of your business.
3. Organised Operations and Workflow
GPS asset trackers can become a part of every operational infrastructure. You can optimise routes, cut down on idle time, and improve efficiency with accurate location data. GPS trackers provide improved transportation with better route guidance. They also let your vehicle driver avoid traffic jams and ensure timely deliveries.
You can also allow your customers to track the asset in real time by sharing the tracking code of the GPS asset tracker. With up-to-the-minute status notifications and pinpoint delivery times, you can satisfy your customers better.
In fact, when you keep this level of transparency, you establish trust among your customers. It encourages customers to spread the word in your company’s favour.
4. Cost Savings and Operational Efficiency
Cost management is a real and pressing concern for every business. But, you can manage your costs better by effectively:
- Improving asset usage
- Burning less fuel
- Reducing the number of hours (and incidents) for machine downtime
These all translate into cost savings and are possible using GPS asset trackers. Moreover, these devices prevent asset theft and loss. Thus, it helps avoid the expense of replacing them.
You can also leverage predictive maintenance data shared by the tracker to reduce unexpected breakdowns, extending the life cycle of assets. All of these factors improve the efficiency and profitability of operations.
5. Compliance and Regulatory
Your industry may be subject to regulatory requirements regarding asset tracking and management. Using GPS asset trackers ensures that you meet such compliance standards. Accurate asset usage records in transportation show that your business adheres to rules for allowed driver working hours. Additionally, you can share your vehicle maintenance statutes.
Thus, you can prevent fines by adhering to rules and bolstering your firm’s reputation.
6. Informed Decision Making
In this age of data, every business needs to make better choices. GPS asset trackers can thus offer a tremendous amount of data that one can delve into. When harnessed rightly for analysis, this data could unveil trends that would help in process optimisation and aid in creating strategic business decisions.
This data-driven process helps improve predictions and resource handling, among other business benefits. By utilising predictive GPS asset tracking trends, your business can remain competitive and quickly adapt to market changes.
GPS Asset Tracker Usage Across Different Industries
Asset tracking is valuable for a range of industries. However, the device can mainly come in handy in the following sectors:
1. Fleet Management
As GPS asset trackers identify inefficient routes, fleet drivers can avoid travelling on them. This saves time and fuel. Additionally, it enhances vehicle usage and removes the chances of unauthorised vehicle operation by drivers.
2. Construction
This industry uses high-value machinery, and supervisors need to monitor machine usage frequency to ensure safety. A GPS tracker accurately records such information, contributing to enhanced project oversight.
In addition, GPS trackers have a deterrence function and reduce the likelihood of your equipment being stolen. Thus, downtime is reduced, eventually stopping financial losses. In addition, GPS trackers have a deterrence function and reduce the likelihood of your equipment being stolen.
3. Logistics
The devices’ ability to ensure that consignments reach their destination within stipulated timelines and monitor their journey in real time will transform shipment management. Logistics companies can easily maintain visibility into the fleet’s location and condition to ensure scheduled deliveries while reducing the need for petrol/diesel/gas and the amount spent on them.
4. Agriculture
GPS asset tracker allows equipment performance surveillance across large tracts of farmland. This can bring in a new era in field control systems. Thus, agricultural businesses can boost their efficiency.
5. Healthcare
With GPS trackers installed in critical areas such as hospitals, healthcare facilities can enforce strict governance rules for assets and regulatory obligations. If your business belongs to sensitive industries like healthcare, these trackers ensure you stick to the allowed hours of medical equipment usage.
Get the GPS Asset Tracker Now
Today’s robust technology drives futuristic businesses. A GPS asset tracker is one of those tech innovations. This device lets you control your project and define the direction you want it to flow. The all-around knowledge about your asset helps you achieve such control. Explore more innovative solutions like GPS asset trackers here.