Tracking of assets or asset management has really picked up over the recent years. Assets are tagged with a Global Positioning Satellite or GPS tracker to check their location for safety purposes. Initially, GPS trackers were used for vehicles, but their use has spread to different applications. Different types of asset GPS trackers are available and come in different sizes. They range from large to micro GPS trackers fixed on small assets like valuable jewelry. In this article, we dive into the asset GPS tracker benefits.
Benefits of an Asset GPS Tracker
Asset managers mostly use asset tracking technology. However, anyone can apply the technology since you can track any asset. Below are the advantages of using a GPS tracker.
1. Enhances Asset Safety
A GPS asset tracker prevents or reduces the theft of valuable items like cars, electronics, jewelry, and many more. Thieves can decide to make away with an item from a store or home, and chasing after them may be a risky undertaking. It’s even worse when you get home, and an item is gone, and you have no idea of where to start tracing.
A GPS tracker controls theft by allowing you to monitor the location of the asset while in motion or still and either on or off. It also allows geofencing, meaning you set boundaries indicating the area the asset shouldn’t cross, and if it goes past it, you receive an alert notifying you of robbery. In addition, you can disable the functions of your asset from any location.
2. Improves Asset Recovery
It’s easy to stop items from being stolen, but it becomes challenging to repossess them after being stolen. As an individual or a company, you both suffer from loss of the asset. However, with a GPS tracker, item recovery has become more accessible. Knowing the location increases the chance of getting the item.
3. Helps in Insurance Saving
Insurance companies pay or compensate you for any damage caused to your asset depending on the amount you pay them as well as their rates. However, the monthly insurance payment can be costly; thus, installing a GPS asset tracker plays a considerable role. Most companies offer discounted rates for clients using trackers to monitor and safeguard their items. GPS trackers monitor the driver’s behavior: if he’s speeding, detouring, or engaging in behaviors against driving etiquette. Behavior monitoring can prevent accidents; thus, the insurance premiums remain low.
4. Helps Reduce Energy Consumption
This applies to massive equipment or those that are commercially used. Stealing these pieces of equipment is far from impossible, so asset GPS trackers are mainly used to track how they are used. You get to know how much fuel or electricity is being used to run them. Excessive energy consumption can be influenced by machine idling while still running or aggressive behaviors by drivers when driving, such as speeding and quick acceleration. Such information given by the tracker allows you to limit the use of the equipment to certain hours or disable their functions, especially in construction sites after the recommended hours.
An asset GPS tracker is a device you don’t want to miss out on. Its significant benefits are the reason for getting one for your asset. You will find so many types to choose from but go with one that best suits your needs.