In today's competitive business landscape, maximizing return on investment (ROI) is crucial. Implementing efficient asset tracking strategies can significantly enhance operational efficiency and profitability. While asset tracking was once primarily focused on fleet vehicles, advancements in technology have expanded its scope to include nearly all of a company's valuable assets—vehicles, heavy equipment, trailers, bins, cargo, pallets of goods, tools, forklifts, mobility devices, job boxes, and more. By tracking these assets in real time using a rugged asset tracker, businesses can reduce losses, improve utilization, and ultimately boost their bottom line.

Here’s how modern asset tracking can drive ROI and optimize your operations.

Gain Comprehensive Visibility into Assets and Workforce

Achieving a real-time overview of your assets and workforce is foundational for effective decision-making and resource allocation. Trackem.com’s asset tracking platform enables businesses to monitor asset locations, usage patterns, and employee productivity—not just for vehicles, but for any critical equipment or material.

With Trackem's low cost asset tracking system, companies can ensure that valuable assets like trailers, job boxes, and even individual tools are being used efficiently and not sitting idle or misplaced. Improved visibility helps eliminate inefficiencies, reduce unauthorized use, and ensure that resources are allocated optimally—directly contributing to increased profitability. Knowing exactly where assets are at all times also prevents costly delays and improves response times for urgent jobs.

Eliminate After-Hours Vehicle & Equipment Usage to Reduce Costs

Unauthorized use of company vehicles and equipment after hours can lead to increased fuel expenses, accelerated wear and tear, and higher maintenance costs. While this issue was traditionally associated with fleet vehicles, it extends to heavy equipment, forklifts, and other high-value assets as well. Studies indicate that personal use charges for fleet vehicles have been rising, with average charges around $139 per vehicle annually.

By implementing after-hours tracking alerts, businesses can set up notifications for unauthorized vehicle, equipment, or tool usage outside of business hours. This helps curb unnecessary mileage and fuel consumption while reducing liability exposure in case of accidents or theft. Limiting after-hours use can also prevent employees from using company assets for side jobs, which can result in unaccounted wear and tear. A study by the NAFA Fleet Management Association found that reducing personal use of company assets can save businesses up to 10% in annual operating costs.

Reduce Idle Time with Real-Time Alerts

Excessive idling wastes fuel, increases maintenance costs, and contributes to unnecessary wear and tear. While fleet vehicle idling is a well-known issue, heavy equipment idling can be just as costly. Construction companies, for instance, often deal with backhoes, excavators, and forklifts left running for long periods. Research estimates that idling from vehicles wastes about 6 billion gallons of fuel annually in the U.S., with personal vehicles accounting for approximately half of this consumption.

Implementing real-time idling alerts allows businesses to monitor and reduce idle times for all tracked assets. A fleet manager can set up automated reports that highlight the worst offenders, making it easier to enforce company policies on idling. Reducing idling time by just 30 minutes per day per vehicle or piece of equipment can lead to annual fuel savings of up to $800 per unit. Companies using Trackem.com’s asset tracking solutions gain instant visibility into idling habits, enabling corrective actions to minimize waste.

Improve Maintenance Management for Cost Savings

Unscheduled breakdowns and unexpected repairs can be costly, but proactive maintenance management helps prevent these issues. Trackem.com’s asset tracking system provides automated maintenance alerts based on mileage, engine hours, or scheduled service dates—not just for vehicles, but for all types of tracked assets, including heavy machinery, forklifts, and even mobile medical equipment.

By ensuring regular maintenance, businesses can reduce costly emergency repairs and extend asset lifespans. According to a study by the American Trucking Associations, preventive maintenance can reduce fleet maintenance costs by up to 30%. Asset tracking systems can also help businesses monitor diagnostic trouble codes (DTCs), allowing managers to address mechanical issues before they turn into major failures. Furthermore, having a well-maintained fleet and equipment inventory increases resale value, leading to higher returns when assets are sold or replaced.

Enhance Driver & Operator Behavior with Speeding & Harsh Driving Alerts

Poor driving behaviors such as speeding, harsh braking, and aggressive acceleration can lead to increased fuel consumption, higher accident risks, and elevated maintenance costs. However, these same issues apply to heavy equipment and forklifts as well—excessive speed and harsh operation can result in premature wear, increased fuel consumption, and workplace safety hazards.

With speeding and harsh driving alerts, businesses can monitor and improve driver and operator behavior across all assets. The Federal Motor Carrier Safety Administration (FMCSA) reports that aggressive driving behaviors contribute to 28% of truck-related accidents. By using Trackem.com’s telematics system, fleet and equipment managers can receive real-time alerts when a driver or operator exceeds safe speed limits or engages in risky behaviors. Implementing a scorecard system that rewards safe operation can lead to fewer accidents, lower insurance premiums, and reduced wear on vehicles and equipment. Studies show that monitoring operator behavior can improve fuel efficiency by up to 15%, leading to substantial savings over time.

Fuel Monitoring for a Stronger Bottom Line

Fuel costs are one of the largest expenses for businesses relying on fleets, heavy equipment, and portable machinery. On average, a modern, medium-sized car can consume about 0.2 to 0.5 gallons of fuel per hour when idling, but construction equipment can burn significantly more. For example, an idling excavator can consume up to 1 gallon of fuel per hour.

With fuel monitoring solutions, companies can track fuel usage across all their assets, detect theft or discrepancies, and implement more fuel-efficient practices. By analyzing fuel consumption patterns, businesses can pinpoint inefficiencies such as excessive idling, unauthorized fuel purchases, or inefficient route planning. According to the U.S. Department of Energy, improving route optimization and reducing unnecessary stops can lower fuel costs by 10-15%. Fuel monitoring also helps prevent fuel theft, which is a common issue in industries that rely on large fuel reserves for generators, forklifts, and construction machinery.

The ROI of Smart Asset Tracking

Investing in a comprehensive asset tracking solution like Trackem.com offers substantial financial benefits. By gaining better visibility across all valuable assets—including vehicles, heavy equipment, tools, trailers, cargo, and job boxes—companies can eliminate after-hours usage, reduce idle time, improve maintenance management, enhance driver and operator behavior, and optimize fuel consumption. These improvements lead to increased efficiency, reduced costs, and higher profitability.

Are you ready to maximize your ROI with cutting-edge asset tracking solutions? Contact Trackem.com today to learn how our advanced tracking technology can transform your business.