Five Benefits of Tracking Construction Assets are as follows
Reduce operating costs:
For construction companies, saving time and resources starts with lowering operating costs. This includes reducing or eliminating unnecessary costs, such as excessive idle time, unauthorized use of vehicles, breakdowns due to missed maintenance dates and more. With remote asset tracking, you can monitor vehicle location and usage 24/7 while making employees more accountable for using them properly. This can lead to significant savings on fuel, labor, repairs and other overhead costs.
Improve budgeting accuracy:
Estimating job costs is one of the most important activities for construction companies. It’s also one of the most challenging. No two jobs are exactly alike, and fuel and material costs can vary widely from one project to the next. Digital asset tracking provides accurate, detailed information about the location and performance of your tools and equipment, making it easier to track costs and build realistic budgets for upcoming projects.
Maximize vehicle and equipment ROI:
Every piece of large equipment represents a significant capital investment for construction companies. Tenna GPS tracking can improve the return on investment of every asset by monitoring engine run time. Tracking engine usage alerts you to important preventive maintenance milestones that can extend the life of your vehicles and prevent costly breakdowns. Keeping your engines running smoothly can also reduce fuel and labor costs.
Deter theft and prevent vehicle misuse:
Theft of vehicles and equipment costs the construction industry millions of dollars every year. While no system can prevent theft 100% of the time, asset tracking can significantly reduce it by monitoring unauthorized movement by time and location. Tenna’s sophisticated tracking features include setting up geofences – virtual boundaries of your choosing – that automatically alert you any time an asset moves outside the established boundary. The system can also monitor and report unauthorized off-hours movement.
Locate stolen equipment:
If one of your vehicles gets stolen, GPS tracking can identify its previous location before it was stolen. More important, it can also indicate the current location, making it easy to track and recover the equipment.