How are you tracking your assets? Are you still using pen and paper? If you have digitized your asset records, you have made the first step toward improving your asset management. However, you may still accidentally purchase extra equipment because you didn’t realize you had something on hand. You might not be able to find a particular asset when you’re looking for it. That’s where Azuga’s asset tracking software comes in.
Azuga’s comprehensive fleet management solution supports your business in all aspects of fleet management, including asset tracking. We have worked with fleets of all shapes and sizes across all industries. Our software is designed to help your fleet business succeed. Let’s learn more about Azuga’s asset tracking solution.
What Are Fleet Assets?
Simply defined, an asset is anything that produces value for your business. This might be any item — buildings, machinery, equipment, or something else. Your staff can even be considered an asset. Every type of fleet has different types of assets. For example, a construction fleet has cranes and bulldozers, but a plumbing fleet will have backhoes and pumps. Regardless of your assets, it’s crucial to protect them and ensure you get the best out of them. That’s when you begin asset management.
What is Asset Management?
Of course, you want to treat your assets with the utmost care. To do so, you must implement an asset management strategy. You may have also heard of this concept as a “fixed asset management” strategy. It comes down to tracking and monitoring your assets to keep them in working condition and increase their effectiveness. A solid asset management strategy helps you manage your inventory, reduce costs, and minimize downtime.
What are the benefits of implementing an asset management plan?
- Manage maintenance effectively
- Reduce time spent locating assets
- Reduce money spent on accidental purchases of duplicate assets
- Maintain regulatory compliance
- Optimize your operations
- Prevent theft and vandalism
- Accurately manage your inventory
- Reduce customer complaints and increase customer satisfaction
What is Asset Tracking?
Asset tracking is the most significant piece of the asset management puzzle. You’ll obtain real-time data from your vehicles and equipment. This can be done in various ways– GPS trackers, barcodes, QR codes, scanners, etc. Azuga’s solution uses GPS trackers that help you monitor location, idle time, HoS, and much more. With Azuga’s asset tracking solution, you’ll always know what you have on hand and how to utilize it best.
Types of Azuga Asset Trackers
Azuga has two types of asset trackers: long life asset trackers and rechargeable asset trackers. With both kinds, you’ll receive location updates and will be able to organize the data obtained into reports. The difference between these types is how they are powered and the duration of their battery life.
- Long Life Asset Trackers: These trackers can last up to five years on one charge. They’re designed to be used for non-powered assets. For example:
- Trailers
- Shipping Containers
- Signs
- Mobile Storage Units
- Rechargeable Asset Trackers: These chargers have a six-month battery life. However, they recharge whenever your asset is powered on. Use them for powered assets such as:
- Vehicles
- Generators
- Mobile LIghts
- Heavy Equipment
What are the Benefits of Asset Tracking?
You’re likely beginning to see the benefits of asset tracking. However, there might be more benefits you haven’t even thought of. Let’s explore what you can accomplish with asset tracking.
- Regulation Compliance: Auditors often conduct physical audits to ensure your balance sheets are correct. Never be caught unaware when you have asset trackers installed.
- Scalability: Manual tracking leads to many mistakes you can avoid with our asset trackers. Avoiding these mistakes saves you time, money, and effort that you can use to grow your business.
- Greater Visibility: Improving visibility is an integral part of fleet management. With our asset trackers, obtain reports that show you idle time, engine run time, location, and usage data.
- Increased Profits: Our asset trackers help you boost your efficiency and productivity. And because you have more time and money to focus on growth, you can increase your profits easily.
- Increased Productivity: You can set limits for assets regarding their hours and location of operation. Geofencing is a tool that can help you accomplish this.
- Proper Deployment of Assets: You can see where your assets are at any time. Ensure job sites have everything they need and that nothing goes to waste.
- Utilization Tracking and Trending: You may have assets that are collecting dust. Even though you’re paying for maintenance, these assets don’t provide value to you. Find the waste with our asset trackers and use that space and money better.
- Theft Prevention: Obtain real-time data on your assets’ locations. If a theft occurs, you can immediately alert the authorities, and tell them where your asset is.
- Reduced Administrative Costs: Freeing up your administrative staff’s time saves money. You can then use these hours to focus on the growth of the business.
- Competitive Advantage: Competitive advantage is vital for all businesses, especially small fleets. Asset tracking ensures the job is always done correctly and can free up time for marketing or customer service.
Azuga Success Stories
Azuga has worked with all kinds of fleets to improve their asset tracking. Let’s talk about their experiences.
- Marlboro Towing: “The intuitive reports and dashboards give us enhanced visibility into the utilization of our trucks.”
- Nolan Power Group: “You can pull up that map, know where all your assets are, if technicians have completed the job, standing still for 3 hours, or if they haven’t gotten there yet.”
- Northwest Tank: “Azuga GPS device is next-gen GPS. It’s easy to install, portable between vehicles and provides valuable business insight into asset tracking, fuel wasting behavior, vehicle maintenance schedules and driver performance. We recently switched to Azuga from a hard-install GPS provider and are delighted at the results.”
Azuga Can Help Achieve Your Asset Management Goals
If you don’t focus on asset tracking, you will quickly fall behind your competitors. Azuga’s asset tracking solution can help you find your business’s weak spots and eliminate them. We have helped all kinds of fleet businesses achieve a wide variety of goals. If you’re ready to improve your asset management strategy, reach out to schedule a demo of our software today.
FAQs
What is an example of asset tracking?
A construction company may want to track the use of a backhoe. The fleet manager can see where the backhoe is and even determine if it’s being used effectively. If one site has a backhoe sitting idle, and another location needs one, the fleet manager can repurpose that asset for better use.
What are the benefits of asset tracking?
See our section on the benefits of asset tracking for more details on these benefits.
- Regulation Compliance
- Scalability
- Greater Visibility
- Increased Profits
- Increased Productivity
- Proper Deployment of Assets
- Utilization Tracking and Trending
- Theft Prevention
- Reduced Administrative Costs
- Competitive Advantage
What is the process of asset tracking?
Azuga’s asset trackers are easy to use, utilizing a plug-and-play model. Install the asset tracker using our instructions. Then, you can see your assets in real time on a map and even generate reports outlining their use.
What assets need to be tracked?
Anything that provides value to your company should be tracked. Consider:
- Vehicles
- Generators
- Mobile lights
- Heavy equipment
- Trailers
- Shipping containers
- Signs
- Mobile storage units
Related Reading
What is Asset Tracking & Why is it Important? – Apr. 10th, 2020
Asset tracking involves monitoring and managing physical resources through GPS or RFID, enhancing visibility and efficiency in supply chains and operations. This process optimizes resource allocation and reduces losses, making it crucial for businesses to streamline their processes and maximize their resources' value.
6 Proven Ways to Improve Your Bottom Line with GPS Asset Tracking – Mar. 22nd, 2023
GPS asset tracking can significantly enhance a company's profitability by improving route optimization, reducing fuel costs, and minimizing vehicle downtime. Additionally, real-time monitoring of assets leads to better operational efficiency and more informed decision-making, ultimately boosting the organization's financial performance.
How Does Asset Tracking Support Your Asset Management Strategy? – Jul. 21st, 2022
This blog highlights the significance of asset tracking and management, detailing how businesses can utilize technology like GPS and RFID to monitor and optimize their physical resources. By implementing effective tracking strategies, companies can enhance operational efficiency, reduce costs, and make informed decisions to maximize the value of their assets.
