Proactive asset management helps run a more profitable business.
Learning that you have to implement changes the hard way is never pleasant, even less, when the cost includes losing business, time and very valuable equipment.
We have been talking about stolen equipment and vehicles lately which is not by coincidence. According to Wikipedia “Construction equipment is believed to be targeted by thieves because it is often poorly secured, easily disguised and very expensive. Some construction equipment can cost as much as $150,000. Backhoes can cost $45,000 to $55,000 (this and other figures in 2010 U.S. dollars); skid steer loaders, $25,000 to $35,000; generators, $25,000 up to $150,000 (for trailer mounts); forklifts, $12,000 to $50,000.”
You do not need to experience asset theft to realize the financial hit it represents to any business. Remember: If they can move it, they can steal it! – It might be an exaggeration, but theft is something every business needs to consider and plan for.
If one of your assets is stolen, you have to deal with the hassle of replacing it, and dealing with your insurance company. But the biggest impact is often the loss of business or downtime because you don’t have your equipment available when you need it.
That’s why GPS Asset Tracking makes sense for a business with expensive mobile assets. With Asset Tracking, you can easily track the current location of missing assets right from your computer and even from your mobile, and help local law enforcement to quickly recover your property. What can be more efficient than that? Of course you don’t always need technology; a more traditional approach can work too. But it might require a lot more work, time consuming and costly. One of our customers found that out for himself:
Not too long ago, Mike – and owner of an excavation company in Surrey, BC – had one of his excavators stolen. Valued at $125,000, the massive machine vanished from a job site in Langley. After filing a police report, Mike decided to take the recovery effort into his own hands. He did his own detective work, questioning friends and connections for any information on his excavator. With a solid lead that a machine similar to his was spotted on a tractor-trailer headed to northern BC, he identified Squamish as a potential search area.
Mike, who’s a licensed pilot, took to the air in his own plane to search. From the air, he was able to locate it on a Squamish-area construction site and then contact police. After Mike confirmed his ownership of the excavator via the serial number, he got it back no worse for wear.
“If I didn’t have my own airplane, I would never have found [my equipment].”
– Mike, Owner of excavation company in BC, Canada.
Mike’s story had a happy ending, but he knew he got lucky.
Not many companies have a qualified pilot with an airplane, the time, the means and the good luck necessary to recover their asset on their own.
If your business relies on valuable equipment and you want to avoid having to do your own detective work, GPS Asset Tracking is worth the investment.
After the theft, Mike decided he didn’t want to have to work so hard next time. A few weeks after recovering the excavator, he purchased a number of Fleet Complete Asset Trackers and as per today, he is a very happy customer.
Proactivity pays off and is much better than reactivity. We are confident that our team can provide you with the tools you need. See for yourself what the system can do for your business!