Asset tracking is not at all a new thing. Though it may seem like spying, business owners are simply trying to protect their assets. The process is somewhat an easy task now thanks to GPS asset tracking systems.
Here follows five solid reasons, which makes you realize that installing a GPS vehicle tracking system for your business is a wise decision:
1. Recover your stolen assets faster than you imagine
If an asset is being stolen, then either you should recover it or replace the stolen one as early as possible. Asset replacement is the most inconvenient thing in a business.
Because of the downtime between losing the asset and getting it replaced.
When there is an increase in downtime, it will negatively affect your business. And it becomes a huge issue, if the stolen asset is a key equipment for your day-to-day operations.
With GPS trackers, you will be able to provide the location of your vehicle to relevant authorities and recover it without much wastage of money.
2. Enhance asset utilization
Apparently, an asset is an investment and if it is not properly used, it can be a huge loss for your company. A GPS tracking system identifies assets which are underutilized and it can be either put to proper use or sold off.
3. Lower insurance costs
Most of the insurance companies consider GPS trackers as an anti-theft device. And hence, they offer discounts to companies who install GPS tracking systems to their business.
This is because a tracking system reduces the number of claims (as stolen assets are recovered quickly and easily), lower insurance premiums, and excess costs.
4. Systematic billing process
When assets are rented, a GPS tracking system can monitor the actual hours of use and these details can be further used for preparing bills.
5. Greater visibility
With the help of asset tracking system, you will get real-time alerts on the location and status of each vehicle in your fleet.
You will receive such notifications on a pre-set, fixed interval. The overall management becomes smoother and dispatching task becomes more efficient. Also, the tracking system can be proved useful when there is an unexpected requirement of a specific asset.
Why is asset tracking given so much prominence?
Business is all about competition. Everyone seeks tools that help them to defy the existing competition.
You can also check out this Slideshare presentation on the same topic, shown in an easier manner:
Asset tracking systems became a much favored tool for many business owners due to its captivating benefits including quick recovery of stolen assets, prompt compensation of initial costs by the savings made, enhanced security measures, and real-time tracking of assets.