Almost all business have dealt with theft, or are dealing with the possibility of theft. Regardless of your line of business, whether it be equipment rental, vehicle rental, or construction, theft is something that no business owner wants to experience. There are several common practical ways to combat theft, but for large businesses with lots of assets, it will take more than pure observation to prevent the stealing of assets.
Asset tracking has been proven to be an effective counter-measure to theft. With its complex GPS tracking system, knowing where your assets are can help your business avoid any unwanted burglary.
Know where your assets are at all times
In businesses, especially in construction, delivery and transportation industries, theft is an expected occurrence. Owners have taken several measures to counter theft in the work area, such as investing in bright lighting, proper inventory, and securing the perimeter, but with different business operations going on all at once, it can be challenging to keep track of your assets. Asset tracking with the use of GPS tracking devices can help you track, recover and account for all of your goods.
Asset tracking can give accurate data on where your assets are, and how they are being used. Depending on how the tracker was installed, it can provide other metrics like pressure, temperature, and travel speed. The device will send you updates at certain intervals. Because you have a good idea of where your assets are, it will be easy to know if they’ve reached their destination, and it can prevent the possibility of theft.
Set virtual boundaries
Geofencing is the process of creating virtual parameters for your assets with the use of geofences. These geofences can be created by “drawing” borders in the shape of circles or polygons on virtual maps. These geofences act as alarms for when your assets, which enable GPS tracking, cross the fence or the line.
Setting geofences can help the business save money, have improved efficiency, and keep track of assets. For one, it can track whenever employees enter a worksite. If an employee enters a site at an unauthorized time, an alert will be sent to you. This helps prevent the possibility of on-site theft because the alarms can detect if assets are stolen and moved off-site.
If assets are stolen, recovering them is still possible. If your assets have GPS tracking devices, it will be easy for you to see where their exact locations are. This is particularly helpful for businesses that constantly move expensive equipment around.
During deliveries and transport, geofencing also assists in confirming whether the assets have arrived at their destinations and if assets are taken to “no entry” zones.
Use time-based starter disable functions
As an owner, you expect your workers to use your vehicles and equipment only when necessary, that is, during work hours. However, there have been cases where employers have reported the unauthorized use of these assets. These instances actually more than just rule-breaking. Unauthorized usage can actually lead to more costs such as fuel, repairs, and liabilities in case of any accidents. Unfortunately, these cases can be difficult to catch – mostly when owners actually catch workers in the act, or through surveillance footage.
The Starter Disable function does not catch unapproved usage, but it does prevent it from happening. It works by wiring the vehicle’s tracking device, enabling it to respond to time-ranged instructions. Business owners can use it to control the allowable periods of time that vehicles and equipment can be used or operated. For example, if a worker turns the ignition on while the Starter Disable feature is on, the vehicle will refuse to start. Owners can choose to disable or enable this function at any time with the use of the software. What it offers is greater control over all of your assets even after working hours.
Decreased or nonexistent theft can help a business boost in terms of productivity, efficiency, and security. If you’re a serious business owner who wants to make the most out of his assets, then you should consider practicing asset tracking immediately.