Many ask if GPS asset tracking and telematics are worth it.
The most common excuse being, “What’s the point? I’m already making plenty of money, and operation productivity/efficiency is steady.”
This is an illusion. You can do so much more.
Doing business without big data is one of the biggest blunders you can make. There is a whole world of inefficient processes you are currently wasting both money and time on.
Read on to learn the steps on how to fix them.
Step #1: Determine What Needs To Be Tracked
There are many people to whom GPS asset tracking is a new concept. That is perfectly OK.
The first step to addressing inefficiencies in your operations is learning which assets are the most important, and thus, the ones that must be tracked.
Take into account the maintenance schedules, uptime, and downtime for each asset. Make your best educated guess after looking over whatever data is available to you.
The amount of time this process will take depends on the organization of your business operations and the amount of data you have on-hand.
Be patient, the time this process takes is paid for tenfold by the resulting improvement in efficiency of operations.
Step #2: Prioritize Your Assets
The next step in the information-collecting phase is prioritizing the list of assets you have created.
Obviously, it is usually not financially feasible for most businesses to implement GPS asset tracking for every asset, nor is it usually necessary.
For this reason, it is important to first understand which equipment is utilized the most.
This will provide you with a wealth of actionable data that will inform your future business decisions and increase the efficiency of your operations.
For example, instead of purchasing a new piece of equipment, you realize that you can instead deploy an existing underutilized asset.
Step #3: Invest In GPS Asset Tracking Software & Hardware
This is the most critical and ironically, the easiest step in improving the efficiency of your business operations.
Consider this the real “next step” that you must take in order to take your business to the next level.
Once you have your prioritized list of assets, it’s time to start the optimization phase.
To do this, you must first invest in a combination of GPS asset tracking software and hardware. Just remember, the upfront cost is worth the amount of time, and thus, money you will save in both the immediate and foreseeable future.
Do your research and figure out which provider is the best for you.
However, most people go with providers that provided an integrated cloud-based platform, such as DSi Mobile. This is due to the greater flexibility and customization offered by such providers.
Step #4: Implement Changes Based On Data Provided By GPS Asset Tracking
After finding the right software and hardware combination for your business, all you have to do is sit back and start watching the data.
It is recommended to wait 2 weeks before implementing any changes based on the new data you’re getting from your asset trackers, in order to avoid making any hasty decisions.
The 2nd most important step in your journey to maximizing the efficiency of your operations is acting on this data provided by your GPS equipment trackers.
For example, a good place to start is examining which assets are being underutilized vs. which are overutilized.
Use this data to reorganize your asset deployment and stay up-to-date with important preventative maintenance. This is guaranteed to increase the lifetime of your assets, and thus maximize productivity through increased uptime.
Step #5: Utilize Your GPS Asset Tracking Software To Its Fullest Potential
Once you have found the SaaS provider that’s right for you, it’s important to use all of the features their service provides.
Take advantage of features such as automated alerts, customized reports, and geofencing.
Armed with your new data, and using all of the features of your chosen GPS asset tracking software, you can guarantee reduced costs and increased efficiency of operations for your business.
It’s really as simple as that. Don’t invest in a service if you don’t plan on getting your money’s worth out of it.
With GPS asset tracking, the benefits can easily be seen. By investing in it, you are investing in the future of your business.
The real question is, why haven’t you implement it yet? What are you waiting for?
Your competitors are either already using GPS asset tracking in their businesses, or are considering it as you sit here reading this article.
Act now before your business fades into extinction as it fails to adapt to the changes in technology the future brings.