Safety in Telematics

Theft of cargo, construction equipment, and other non-vehicle company assets creates a costly impact to operations in businesses in a variety of industries, such as transportation, shipping and supply chain, mining, construction, and government.

The statistics bear out this troubling trend:

  • There are more thefts at construction sites than convenience stores, according to Great American Insurance Group
  • More than 85% of contractors have been the victim of some kind of loss, according to an August 2023 report
  • Construction companies are facing $300 million to $1 billion a year in losses with less than 25% ever recovered, according to EMC Insurance
  • Cargo theft reached $31.1 million in Q3 2023, according to CargoNet

Unfortunately, theft and misuse of business assets typically stems from a lack of awareness and visibility about how and where the assets are utilized. Up to 30% of businesses cannot identify their own assets, according to a Cushman & Wakefield report.

Luckily, equipment management technology provides a reliable solution to slow these alarming trends.

A GPS asset tracking program provides essential security for fleet managers to solve an array of pain points and provide benefits such as:

  • Improving safety; 
  • Increasing productivity; and  
  • Reducing costs 

Let’s take a deeper dive into these benefits. 

  1. Secure valuable assets: Asset management systems allow you to create geofences – digital zones that enable alerts when an asset enters or leaves the area. 
  1. Pinpoint equipment: A GPS tracker, which usually pings daily, allows you to track heavy equipment, truck trailers, generators, and even unpowered property such as trash containers or larger office equipment. 
  1. Increase flexibility: Asset trackers come in many stripes, allowing you to monitor powered or non-powered equipment. Higher-end hardwired trackers give you more operational data from machine engines, while “slap and track” modules arrive in an affordable, rugged package. Bluetooth Low Energy trackers provide more basic functionality and often use solar power. 
  1. Streamline operations: Customizable equipment monitoring reports allow you to identify less utilized equipment to deploy the right resources to the right job site. 
  1. Track deliveries: Tracking of smaller equipment and unpowered assets helps avoid duplication at job sites and allows financial personnel to complete accurate inventories of depreciating assets that will come into play at tax time. 
  1. Vehicle health monitoring: Verify vehicle and driver identification with VIN, odometer, and more. You can also schedule services with accurate diagnostic trouble codes. 

Learn more about how EnVue Telematics can help your business improve safety, increase productivity, and reduce costs by tracking your assets. Get a customized plan from one of our sales advisors today.

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Tyler McGrath

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