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9 Secrets to Reducing Fleet Expenses
As a fleet owner, your day-to-day costs can quickly add up. What you don’t know is there are further hidden, expensive...
Read moreManaging a fleet of vehicles and heavy equipment on multiple job sites comes with the territory in the construction industry. Fortunately, it does not have to be as complicated as it sounds.
Construction companies that have implemented asset tracking software are able to easily streamline the management of both their powered and non-powered physical assets.
The installation of a small GPS tracking device on heavy equipment and vehicles provides construction managers visibility into that equipment from any job site. They can have insight into things like location data, history, and usage details in near real-time.
As a result, construction companies can expect a longer life cycle for their equipment, and take action against excessive idling. According to research, “on average, equipment on construction sites in the UK are idle around 45% of the time” (1) which means unnecessary fuel consumption and increases maintenance needs
FACT: In Europe 73% of asset tracking users improved equipment and trailer utilisation and 62% improved their security as well with fleet management technology.
Construction equipment data housed in one central place.
Construction sites are home to expensive equipment, materials and vehicles. These valuable assets are often of different makes, models and manufacturers. Although much of this equipment may have a pre-installed telematics system from the original manufacturer, organising the data from so many disparate systems is nearly impossible.
A robust asset tracking software can streamline this data by housing it in one centralised location. As a result, construction companies can view all their assets’ data, like construction site location and status, from one dashboard on their desktop computer or smartphone.
Create more accurate cost projections for an improved bidding process.
Reports provided by GPS tracking on construction equipment make it easy to track employee work hours accurately. This data can also promote accuracy when it comes to customer billing, payroll and bids for future construction jobs.
More accurate visibility into asset data can help curb unnecessary spending as well. GPS asset tracking can help cut down on extraneous fuel and labour expenses by monitoring asset information like engine hours, idle time and maintenance dates.
Improve theft prevention on construction sites.
It is well-known that construction sites are huge targets for theft. They are loaded with valuable materials and expensive machinery. With the global supply chain creating hurdles for obtaining supplies, theft has become an even more significant concern for all construction companies that video surveillance alone cannot solve.
Help prevent unauthorised use and theft:
- Set geographic boundaries with geofences
- Establish allowable operating hours for each job
- Get instant alerts for any unauthorised movement day or night
- Track utilisation with customisable dashboards
Is it time to upgrade your asset tracking solution? Check out our buyer's guide to learn what to look for in an asset tracking solution.
Extend the life of valuable construction assets.
Regular equipment breakdown can make it challenging to hit critical milestones on construction projects. Outdated and paper-based processes are no longer viable options for keeping up to date with maintenance management.
Asset tracking software helps to solve this by consistently monitoring the health of valuable assets and providing maintenance alerts, including when a part may need replacing. As a result, assets are kept in peak condition and on-the-job safety is maintained. This can lead to fewer equipment breakdowns, allowing construction milestones to be fulfilled as promised.
Asset tracking software is a must-have for construction companies.
Heavy equipment and fleet vehicles are one of the most significant expenses for any construction company. Asset tracking software is the most efficient way to protect that investment.
The software helps streamline data, providing near real-time insights into assets from practically anywhere at any time. Construction companies can easily view accurate work times and utilisation reports, which results in more precise payroll and cost projections.
It also provides one of the best defenses against theft for construction sites, helping to provide a near real-time location status to authorities if an asset is stolen.
As always, it’s crucial to find the right solution for your organisation's needs. Learn more about how Verizon Connect is experienced in helping companies track and manage their high-value assets with powerful GPS asset tracking software.
