For a while now, GPS used satellite tracking technology was the property of the U.S Department of Defense. Being the primary navigations system for almost two decades, it was only in recent times when it was released to the general public for personal and commercial applications.
Apart from the fact that insurance companies charge lower premiums to companies that have a GPS tracking device on their vehicles, there are several other reasons why you should use one of these units as a precautionary measure in your business:
Reason #1: Greater visibility
Just the ability to track an asset’s location almost every two minutes can tell you how efficient this system really is. In being able to locate an asset as quickly and accurately as this, you can imagine what this does for the tasks of asset management and dispatch.
Reason #2: Recover stolen assets rapidly
Losing equipment is not only annoying because a replacement has to be arranged, but it could also be vital to the day-to-day operations of the business. With the ability of GPS to provide an accurate location of the asset, authorities can retrieve the asset and help the company to get back to business as soon as possible. Even though the LoJack device can also do this, this is perhaps the only use that the device can be used for as opposed to a plethora of applications for GPS.
Reason #3: Accurate Billing
When assets are rented out to customers or internal cost centers, GPS can help you track the number of hours the asset was used, therefore also giving you sufficient data to accurately report billings and costs.