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What Does Asset Tracking in Fleet Management Mean?

Posted by Wilmar, Inc.

Asset Tracking in Fleet Management

If you run a business with many vehicles, you understand how challenging it is to keep track of your vehicles 24/7. An asset tracking system will make this process easier by providing precise information about your assets' location at any given time.

More and more managers are embracing asset management technologies, thanks to benefits like increased productivity, streamlined operations, and real-time information.

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A 2019 study by Verizon found that 64% of fleets were using GPS tracking software, compared to 59% in 2018. 

Asset Tracking Solutions

There are plenty of asset tracking solutions for your operations, and we have listed some of the best options for you:

1. GPS Tracking Systems

GPS technology has simplified day-to-day activities for Americans, whether you are requesting a taxi, networking on social sites, or organizing road trips. This technology has also revolutionized fleet management by helping managers to track their vehicles and enhance safety and productivity.

The Global Positioning System relies on the Global Navigation Satellite System (GNSS) network, which features more than 20 satellites and ground stations. This constellation of satellites emits microwave signals that can generate information like speed, idle time, direction, diagnostics, and vehicle location.

The tracking system will be fitted into your vehicles, and it will store fleet information to be sent to a server. You can then access this data with your phone, tablet, or computer. Part of the popularity of GPS tracking systems is credited to their ability to generate real-time information. 

Modern GPS tracking systems are quite sophisticated, and they can even alert you if a driver is driving carelessly. You can also customize the asset tracking system to fit the nature of your operations.

2. Asset Tracking Software

An asset tracking software will centralize your fleet operations and track and monitor your vehicles in real-time. You can also use asset tracking software to schedule preventive maintenance and repairs for your assets.

There is simple and complex asset tracking software, depending on the nature of your business. Some sophisticated solutions can even anticipate breakdowns before they occur, and save you money in repairs.

Modern systems are quite effective at collecting data through solutions like GPS devices and in-vehicle sensors. You can generate instant reports and see essential detail regarding your assets, like utilization and real-time location. The benefits of fleet management software have made many companies enthusiastic about streamlining their operations, and the market is projected to reach $34 billion by 2025

3. Tracking Cameras

If you want to monitor your drivers' behavior, you can install GPS tracking cameras in your fleet. Dashboard cameras have enabled unparalleled visibility into driver mannerisms and fleet safety.

For example, you may have new drivers in your staff, and you want to determine their competency on the road. Video recordings will help you to evaluate their performance and identify areas for improvement through training. 

Another company may be dealing with many traffic accidents, which may be due to driver neglect. In both instances, camera technology can be a powerful tool for talent management. 

4. Mobile Applications

Given how dynamic the business landscape has become, there is a need to be flexible and adaptive to the current trends. If you oversee a company, you should invest in powerful management solutions that cut costs and boost productivity. One such solution is asset tracking mobile apps that help managers keep track of their fleet and drivers regardless of where they are. 

A fleet tracking app provides real-time data that help users know where their vehicles are and whether they are engaged or idle. You can seamlessly communicate with vehicle operators and get information about a vehicle's status. The routing features will make it easy to dispatch a vehicle to where it is needed and boost customer satisfaction.

Final Thoughts

Technological advancements have made fleet management more manageable, thanks to solutions like GPS tracking, camera technology, and software. At Wilmar, Inc., we use sophisticated solutions to ensure you can monitor your assets 24/7. Contact us for free analysis as you look forward to reduced costs and increased customer satisfaction. 

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Topics: Telematics, Fleet Tracking, Fleet News, Misc


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