Heavy equipment — tower cranes or bulldozers, graders or dump trucks — is a big investment for any company. When you spend millions on purchasing heavy equipment, you have to insure it.
While your insurance may offer protection if the equipment is stolen, damaged, or causes damage to someone else’s property, there are things it can’t protect against: fuel theft, unauthorized use or rough driving that can make your equipment more expensive to run and maintain.
Monitoring your equipment to protect against abuse can keep your workers honest, your costs accurate, and extend the life of your machines.
Uses for GPS tracking heavy equipment include:
- Know where all your equipment is at any time, no matter how remote the location.
- Accurately track equipment usage with engine on/off and other mechanical systems monitoring such as PTO or crane operation.
- Report on start and stop times for accurate billing or bidding on new work.
- Record vehicle operation for signs of unauthorized use, such as being used outside of a designated area, driven roughly, or operated after hours.
- Stay on top of preventative maintenance with accurate usage details and automatic service alerts.
- Keeping clients informed on equipment activity and start/stop times.
- Be informed of any mechanical problems that need urgent attention, such as a low battery, so they can be corrected before they become an expensive breakdown.
- Uncover fuel theft by accurately monitoring usage compared to expected consumption.
- Heavy equipment ROI — What sort of return are you getting?
Businesses need to maximize the return on any capital they’ve invested. When heavy equipment isn’t being tracked using GPS technology, there’s a good chance your company could be missing valuable revenue opportunities or paying hidden costs.
18 Hidden Costs (if you’re not tracking it)
- Staff hours spent locating equipment
- Bogus claims for overtime
- Unnecessary maintenance based on arbitrary schedules
- Equipment damage due to unauthorized usage
- Idle assets not being used
- Unsafe equipment operation leading to more accidents and increased company liability
- Fuel theft
- Increased insurance premiums and lower recovery of stolen equipment
- Staff time spent maintaining equipment log books
- Accurate billing for equipment use
- More successful bidding on new contracts with accurate costings
- Increased warranty recovery
- More effective asset utilization
- Reduced insurance premiums
- Manage remote workers more effectively from a single screen
- Better decisions on purchasing new equipment
- Faster recovery of stolen assets
- Improved driver compliance with automatic hour tracking
The longer you leave it, the more it’s costing you
The sooner a fleet starts using GPS tracking to monitor their heavy equipment (and all other assets) the sooner they start to see a positive return on their investment.
And that return isn’t just generated by the immediate cost savings, either. By instituting GPS tracking sooner, fleets can build up a valuable knowledge bank of usage reports from which trends can be identified and acted on. Operating costs are increasing but usage isn’t? The number of jobs hasn’t changed, but drivers are claiming more hours? Can you get by with fewer vehicles, maybe selling one of your cranes? Or if you need to purchase a new digger, which make and model performed best over its lifespan?
GPS tracking is more than just turn-by-turn navigation; it is the most valuable tool you can have as a fleet manager, and the sooner you get started the better off you’ll be.
Telogis has valuable expertise and experience in tracking heavy machinery and equipment, and our team would be glad to customize a solution for your fleet so you can ensure you’re not losing money on your big machines.