The Ultimate Guide to Marketplace Asset Tracking Solutions

Do you know where your assets are?

Find your Marketplace Asset and Trailer Tracking solution

High-value assets are critical to your operation and costly to replace. Tracking containers, trailers, generators and heavy machinery can ensure you know where your assets are when you need them.

You want to limit the time spent looking for your assets. This guide will help you track down the right solution for your assets.

Let’s get started!

Step 1: Learn how asset trackers benefit your fleet

In business, you may first think assets are your building, your computer systems or your bank account. But assets are also important parts of your fleet like trailers, containers, generators or heavy equipment.

Keeping track of these assets can not only help you know what assets you have and where they are, but it can also help you reduce costs, find efficiencies, and improve how you use these assets.

Before we dive into solution options, let’s define asset tracking:

According to Forbes, asset tracking occurs when a company tracks its physical assets. In order to do this, you have to equip your assets with a GPS tracking system, a barcode scanner or a radio-frequency identification (RFID).

These assets are physical things that provide value to your business. They are tangible, physical items like heavy equipment, trailers, containers, generators

Do you know where your assets are? It’s an essential part of any business to have a clear picture of everything you have. Asset tracking solutions help you keep a detailed account of the things that add value to your company, where they are, what condition they are in and how best to utilize them.

Do your assets reach their full ROI potential? Asset tracking can help you understand exactly where and when your equipment is used. An asset tracking strategy brings efficiencies, cost savings and returns on your investments. How can tracking help you reach your assets’ full ROI potential? Here are a few ways:

• Reduce losses due to theft or equipment left behind
• Maximize usage by knowing where your assets are utilized
• Minimize additional equipment purchases
• Stay up-to-date on maintenance requirements
• Plan for the future with up-to-date asset data

From finding efficiencies to reducing maintenance costs to avoiding losses to theft, asset tracking solutions can be critical tools in your business toolbox. Adding an asset or trailer tracking solution to your telematics strategy extends your investment, your data and your capacity to leverage all aspects of your fleet.

Why use an asset or trailer tracking solution? Asset tracking protects your assets from loss, theft, and under-utilization. An asset tracking solution coupled with your telematics data can bring you powerful information to drive your business forward. You can track engine hours, historic usage, and site entry and exit times, all of which can be used to provide comprehensive billing to your customers. You can also schedule reminders for maintenance and replacement, and instant alerts can be sent when assets leave a site boundary, are subject to impacts, or exceed usage thresholds.

Thousands of assets can be managed and controlled on one single web-based platform so that you can get the most out of all of your equipment.

Step 2: Find the ideal asset and trailer tracking solution for your fleet

• Power Type
• Ping Rate/Size
• Key Segment/Industry

Now that you understand why an asset tracking solution can benefit your fleet, let’s explore some questions you may ask yourself when evaluating a solution.

What type of asset tracker works best for you? An asset tracking solution works best in the right environment. From solar powered to battery powered, hidden or rugged, there are many things to consider when selecting an asset tracker.

One of the first decisions is what power source is best for your needs. Choosing between a solar or battery powered tracker can depend on a number of factors:

• Are your assets in an outdoor environment?
• Are they fully exposed to the sun or open sky?
• Are your assets exposed to weather, dirt or chemicals?
• Are they easily accessible to clear or clean the tracker?
• Can a solar tracker help you meet your company’s sustainability goals?

Here are a few examples of different industry uses:

• Construction: typically battery powered trackers are used due to dirt and debris that could cloud a solar tracker. Exposure to chemicals, harsh particles or oils make a rugged tracker an ideal solution for the construction industry.
• Transportation: both battery powered and solar powered solutions are used in tracking cargo and trailers. A key consideration includes placement of the tracker on the trailer itself to ensure access to open sky when choosing a solar option.
• Medical: battery-powered solutions are used to track equipment moving around hospitals (ie. beds, IV pumps, heart monitors etc) because assets are kept inside.
• Waste management: solar powered and rugged solutions are used for assets that are always outside.

The answers to these questions can help you decide between solar or battery powered solutions. They can also determine if you need a heavy duty or rugged solution in more harsh environments.

What features are best for your fleet? Geotab Marketplace partners offer a variety of features and options for your asset tracking needs. Let’s explore a few of the key options that may be right for your fleet from the Geotab Marketplace.

Step 3: Choose your best solution

Geotab Marketplace offers an extensive ecosystem of fleet software and hardware designed to complement and extend the MyGeotab platform. Explore all the asset and trailer tracking solutions and choose your best solution.

What does it mean to use a Marketplace solution?

With a large network of partner solutions purpose-built to accommodate any fleet, you get the gift of options that are free of the uncertainty that can come with unvetted solutions.