When everyone finishes their day at work, there’s one employee who keeps going. And doesn’t get paid extra for it. Or complain about it either.

Telematics solutions such as Telogis Fleet and Ford Telematics™ powered by Telogis® are often promoted as an operational solution. Fuel savings, better allocation of resources, and optimized routing are just a few of the benefits to your fleet’s operation. However one of the most valuable features this ’employee’ can offer is something that comes into its own outside of regular business hours.

How secure are your assets?

For contractors, especially those who work remotely or have temporary yards set up away from headquarters, asset security is a serious issue. Work trucks offer a tempting target for thieves not only for the value of the truck itself, but whatever other tools and equipment may be in, or towed behind it.

Telematics, however, offers a solution: through geofencing and real-time location of the vehicle, truck owners are alerted much sooner to the theft of a vehicle. Geofencing is the equivalent of a virtual fence that is placed around any given location or yard. The fleet manager or truck owner can create an alert that sends an email or a text message if a truck has been moved outside that virtual fence during specific hours. This means a faster response to the theft itself, and the authorities will use the real-time location of the vehicle to help track it.

One Telogis customer reported that the recovery of one truck more than paid for the annual subscription service for the telematics solution. That ROI grew exponentially if the truck had a trailer with an excavator or skid steer on it. In some cases, the location of the stolen truck often alerted authorities to the presence of other stolen goods and equipment as well. The ability to identify and track thefts at such a fast pace helps lower three significant costs: the lost time associated with a stolen vehicle, the actual replacement costs (after insurance) associated with the vehicle itself, and the insurance premiums.

The equation is rather simple: stolen trucks lead to downtime and raised insurance rates, while recovered trucks lead to less downtime and hassle while maintaining and/or lowering insurance rates.

What are your hidden fleet costs?

A telematics system can also help protect your company’s assets and resources. Fleet managers and business owners can compare vehicle mileage and location to work schedules and pinpoint the exact amount of mileage/expense that is attributable to the job and how much of it was used on personal time by an employee.

For instance, it can be detected if an employee took the vehicle on a 300-mile personal trip over the course of the weekend. It’s important to note that this is not only an issue of unauthorized use, but of exposure: the more time a commercial vehicle spends on the road, the more time it is exposed to potential accidents and hazards. Increased exposure equals a greater chance of liability should something go wrong — a risk not worth taking on unauthorized use.

Systems are also able to leverage fuel card data and GPS location to better manage fuel purchases and identify possible instances of theft. Fleet managers can compare fuel card transactions to GPS-provided vehicle locations to verify authorized use. If a card is used when no authorized vehicle is present, that signifies an unauthorized use of the fuel card and can launch an investigation into the theft of valuable company resources.

Pay less for insurance too

With Telogis, fleets can qualify for an immediate discount up to 15 percent with a participating insurance carrier when buying a commercial vehicle policy. Further, safe driving discounts of up to 40 percent off participating carrier rates are available with subsequent policy renewals. Those are substantial numbers, even for one truck, but spread that out over a fleet of vehicles and you will experience substantial savings.

Keep it secure with Telogis

What we’ve discussed here are just a few ways in which a telematics system such as Telogis Fleet or Ford Telematics powered by Telogis can help contractors keep their vehicles and resources more secure.

Don’t risk another day with your valuable assets exposed to theft and misuse. Switch on to Telogis and keep your business safe, around the clock!