Rental Equipment GPS Tracking Software
Real time tracking has become a very important tool for rental companies. It simply helps you to protect, manage and monitor your equipment wherever they are by the use of Satellites. It tracks your equipment in real time and also give you a notification when auxiliary services are used. What this means is that GPS tracking is a must-have for all rental fleets including construction equipment and renting cars.
Rental businesses are continuously managing risk and trying to look for more ways of mitigating or even avoiding operational risk all together. If risks of damage, theft and machine failure during work is managed, then the company can be guaranteed of a reputable business name and increased profitability. The good thing is that GPS tracking is a key weapon in the process of mitigating risks. GPS tracking solutions by GPS Leaders for your rental business can help you monitor, manage or even prevent; Punitive damages to your equipment, administrative costs, unused equipment, delayed deliveries and reorder costs and many more. For more information regarding GPS tracking devices from GPS Leaders, visit www.gpsleaders.com.
Why Risk Management In Rental Equipment Is Necessary
More and more companies are investing in high quality Rental Equipment GPS tracking devices to increase efficiency, reduce cost and most importantly manage risk. Risk managers in every company are there to identify any risk that may hinder the operations of the company, reduce customer satisfaction or even put the company in other legal risks. That is the reason why many risk managers have implemented GPS tracking technology for many of the company’s rental equipment. On this move, risk managers have seen abundant benefits.
Improved Response Rate In An Emergency
In some cases, companies give out their staff to operate huge and sophisticated machinery and equipment. They are machines and in some cases, though rare, the operator or any other staff in the field may fall into risk of injury or even fatal cases. With GPS tracking devices, the rental company emergency wing can be able to respond faster and take necessary measures to save lives. The faster you know of the emergency, the better. Bad reaction times can cost people’s life.
Verification of Claims
If the customer ever made any claim about an incident that occurred in the site, it is authoritative that you have the most precise facts to get a clear detail of the situation. If your rental equipment have GPS tracking devices, then you will be able to get such data to help you address the claim. The company will not face the risk of revenue loss or any other associated risk. The risk management will also be able to verify if the driver, operator or any staff in question was at the site of said incident.
Reduce the Liability
One of the most important role of a risk manager is to reduce liability and reduce the risk of money loss. With the use of GPS tracking devices, the manager can be able to monitor, assess and correct any instances of delay, accident, stolen equipment, excess consumption of fuel or even an out-of-operation equipment. With GPS tracking, you don’t just reduce the company’s liability but also save it significant amount of money.
Other Benefits of Rental Equipment GPS Tracking
Decreasing the Risk of Theft
There are many different obstacles that hinder you from maintaining your profitability theft being one of them. However, with GPS Leaders tracking solutions, you can increase the profitability of your business by simply reducing the risk of theft. You are able to locate and organize the equipment you have in the site. They also help you to monitor the equipment with the customers and give you a chance of ensuring that your staff follows every delivery protocol. In another case where the equipment is stolen, the authorities can be able to use GPS tracking to recover it.
Know the Precise Location of the Equipment
The most obvious benefit of GPS tracking is the ability to track and give real time information about the whereabouts of the equipment. However, there are several other benefits that can accrue with the use of GPS tracking on your equipment. The truth of the matter is that rental companies take great risks when they send their rental equipment out there with the customers. However, with GPS tracking devices, you can be able to locate the equipment within seconds. The devices will help you and your staff know the exact location of every tracked asset. It saves you and your staff both time and money that you could otherwise incur trying to locate the equipment manually.
Monitor the Condition of Your Equipment
With GPS tracking devices installed in your equipment, you can use telematics to monitor the condition of your equipment. When you are familiar with your equipment’s condition, you can act swiftly to ensure that it resumes to work in case something had happened. You will be able to reduce the costs associated with dead machinery and downtime.
Another important aspect of GPS tracking devices is that you can use them to know when your equipment crossing a designated area. This way, you can report any suspicious act by the customer to the police and ensure you recover it when need arise. GPS devices for your equipment will make sure that you keep your equipment in the area agreed upon in your rental contract. Not all customers are trusted and therefore you must take additional stepladders to ensure that your equipment are in the right place the right time, else you will be risking their loss. You also have a chance to reduce the tension related with not knowing the actual whereabouts of your equipment and machinery.
Use Management and Rental Equipment Maintenance
Your rental equipment should be maintained time to time to ensure that they remain fully operational and have a long life of use. With tracking devices from GPS Leaders, you can monitor idling hours, the engine activities, other physical conditions and schedule a maintenance while your equipment is out there with your customer. The company makes profits when there are reduced operational cost. You cannot be able to reduce company’s operational cost without monitoring and maintaining the machinery and equipment used. GPS devices will give information on how long a certain machine or equipment has been in operation, how many miles it has traveled, or even how many times it has been in use. With this information, you can decide on the perfect time to take it to maintenance.
The other thing about Rental Equipment GPS tracking devices is that it helps to keep your customers honest. You have to bear in mind that not all customers are truthful and they may take the rental equipment to another area, overuse it, use it without maintenance or even mishandle the equipment. These devices help you to make a better decision regarding what a customer is telling you. Again you don’t have to rely on the customer’s information to make informed decisions. GPS tracking devices will give all the needed information including the devices whereabouts, the number of hours it has been in use, damages, caress handling and many more. This way, you can come into rescue and prevent the risk of theft and damages.
Because your employees will be going from site to site, it is important to ensure that they have a safe, effective and reliable way of following directions. GPS devices from GPS Leaders allows drivers, operators and other staff to follow a turn-by-turn, voice guided directions. This means that they don’t have to turn their eyes out of the road to look at the directions. In case they get lost, the technology can be able to locate them and respond faster to recover them. This way, both the company and the staff will have peace of mind.
GPS Tracking Devices Can Also Make Your Rental Business More Competitive
GPS tracking devices for rental business can help you make informed and highly educative decisions that your customers out there cannot compare to those of your competitor. You can as well be able to streamline your efforts and make things work better for you when you closely listen to your customers’ remarks. With GPS tracking devices, you can arrange your storage area for rental equipment and be able to guide your staff accordingly. It can also help your employees locate less rented equipment and also check on them more often to reduce the risk of damage. You can quickly check orders and respond swiftly with GPS tracking system installed in your equipment.
The Bottom Line
It can sometimes be overwhelming and tedious wen managing rental equipment especially when it comes to maintenance. However, with the advancement in technology, the rental industry is provided with GPS tracking devices that can increase equipment efficiency and increase the up time thereby maximizing the profits. GPS Leaders is one of the best companies in California offering GPS tracking solutions for your rental business. For more information regarding purchases, offers and installations, visit www.gpsleaders.com.