It stands to reason that if your company owns expensive equipment, you'd want to keep track of these important assets. GPS tracking for tools and equipment helps you to gain control over your assets, know where your employees are, and prevent theft.

However, some business owners hesitate to get a GPS-tracking solution for their tools and equipment. You might wonder why? Well, there are some drawbacks to consider. In this article, we'll go through the pros and cons of GPS, as well as a solution that can help you get the insights you want from GPS without the difficulties.

Pros of GPS Tracking for Tools and Equipment

As technology develops, companies can control and optimize their equipment usage like never before.

Here are some benefits of GPS tracking for tools and equipment:

Increased Profits

You save money when your equipment is working properly and usage is enhanced. Work gets more profitable as you become more capable of making better decisions. Maintenance is easier to plan, and with fewer surprises, you won't have to pay for an unexpected rental or incur downtime on a project site.  

Visibility

The most significant advantage of equipment tracking is increased visibility. You can not only see where your equipment is but also monitor how assets are used or not used.

Greater visibility increases your ability to manage tools and equipment regardless of their location. GPS tracking for tools and equipment also ensures safety, reducing theft rates.

Preventing Unauthorized Use and Theft

Because tools and equipment are costly to operate and maintain, illegal or incorrect use can result in expensive accidents. Tracking detects odd activities and, in severe circumstances, theft. Let’s take a look at how GPS tracking can prevent equipment theft.

• Real-Time Tracking –GPS tracking systems assist you in keeping track of the positions of your equipment. Spytec GPS tracker, for example, offers configurable real-time GPS tracking, allowing you to keep an eye on your powered, unpowered, and heavy equipment.

• Geofence Notifications –Geofence notifications warn you when a piece of equipment departs from a preset area, which might also indicate theft. With these alerts set up, you’ll be notified of any unplanned movement from a workplace or construction site on your mobile phone or by email. 

• Equipment Inventory –The Inventory Report allows your company to keep track of all equipment locations in real-time. By getting visibility into your equipment inventory, you will be able to detect missing or stolen equipment sooner, aiding asset recovery down the road.

Learn more about the Top Ways to Use GPS Tracking for Construction Equipment. 

Learn more about the Benefits of GPS Tracking for Construction Companies. 

Learn how Construction Companies Can Gain Peace of Mind with GPS Tracking. 

Cons of GPS Tracking for Tools and Equipment 

Why, with all of these features, are some business owners hesitant to get a GPS-tracking solution for tools and equipment? Some GPS trackers make the process seem overwhelming and expensive. 

Expensive Installation 

Sometimes when you buy GPS-enabled equipment, you’re restricted to the tracking provided through that brand, and it might be costly to replace or repair.

Some contractors invest in GPS systems that can be deployed independently. Still, the trackers themselves are a pricey investment that requires logistical resources to guarantee equipment is correctly installed and maintained.

Ongoing Fees

Once you install a GPS tracker, you’re obligated to the GPS monitoring business and generally pay a monthly fee to access GPS data. If you rent a GPS tracker, you must also pay for the rental of the device.

Transporting Equipment from One Truck to Another

Suppose you can't afford to buy a separate GPS tracker for each piece of equipment. In that case, you may have to coordinate their usage, keep track of which tracker is used for which equipment, and do the job of uninstallation/reinstallation into new equipment.

Is It Worth Getting a GPS Tracking Solution for Tools and Equipment? 

The decision is yours.

Remember, a tracker will not guarantee that your tools and equipment will not be stolen, but the right solution could help immensely with prevention and recovery. Not only that but also easily monitor your employees’ location, follow shipments and track your vehicles.

Another question we often get asked is: Do I need to track the equipment I rent out? Learn more about that here. 

Get in touch with us today to learn more about how Spytec GPS can help your business.