Global positioning systems (GPS) to monitor company assets are rising. This is because it provides accurate real-time location data and successfully discourages theft.

A global positioning system tracking device is an electronic gadget that broadcasts a signal to a central hub. GPS trackers have various uses for businesses, including keeping tabs on the whereabouts of cars and equipment and calculating delivery schedules. Due to these factors, the gps asset tracking
market is expected to reach $3 billion by 2025.

What Is GPS In Asset Tracking?

"GPS" refers to the Global Positioning System. It's found in various devices, from smartphones to satnavs. Businesses can utilise GPS to learn where their assets are by installing a tracker that exchanges data with the GNSS (Global Navigation Satellite System) system. Trackers allow managers
to see the location of their assets in real-time by sending a signal to
satellite sites.

Trilateration is the method GPS trackers use to communicate with the GNSS network. Here, the location, velocity, altitude, and time of the trackable item are calculated using data from at least three satellites.

The exact information provided by trilateration increases asset visibility and limits wasteful use. This enables asset managers to maximise returns on investment.

How Does GPS Work in Asset Tracking?

Managers gain insight into the use of company assets through the usage of gps asset tracking systems. This kind of introspection bolsters gains in efficiency and morale among employees. More importantly, though, it facilitates financial and time savings.

When attached to a mobile asset, such as a fleet vehicle, a tracker proves invaluable. This is a frequent method for deterring burglaries. It also improves the chances that stolen automobiles can be returned to emergency services.

Metrics such as travel duration, mileage, and speed can be recorded. This helps managers understand the performance of workers utilising all types of cars. Everything from bulldozers to heavy-duty cranes to delivery trucks and rental cars.

The precision of satellites means they will provide a global overview of traceable property. This lets companies keep tabs on how their tools are being used, which ultimately benefits productivity. In practice, GPS asset tracking discovers underused tools or those placed in the wrong position. Managers can
make more informed decisions about the future locations of tools and equipment
using this information.

The positive effects of asset tracking on your company

Conserve your resources

Better tracking of your fleet's whereabouts may ensure that your cars and drivers are continually hitting productivity goals and keeping your company competitive.

Assist in avoiding loss, damage, and theft

The security of your assets is enhanced, and the likelihood of recovery following a theft or loss is raised if you know the precise positions of your fleet (and its operators).

Maintain a state of good repair

You can keep your fleet in top shape using GPS asset tracking software to track each vehicle's location and status. Preventive maintenance on cars could be planned by usage statistics (such as engine hours).

Optimise your return on investment

Lost productivity and unnecessary spending can be avoided if you always know the whereabouts of your assets. With GPS fleet tracking analytics, you can streamline your processes, cut expenses, minimise downtime, manage your fleet more efficiently and maximise your return on investment.

Conclusion

Telematica's telematics experts have worked with businesses of all sizes and across many industries, allowing them to advise you on the features and capabilities of the GPS tracking solutions that will work best for your company.