Stopping asset theft: How vehicle tracking systems protect more than cars
Two years ago one of our long time clients, Andrew*, came to us with a serious theft issue.
He had an equipment hire business and as with all hire companies, the equipment had a habit of wandering off and not being returned. The third time Andrew’s mini trencher ended up somewhere it wasn’t supposed to he had to choose between making another insurance claim on his $14,000 piece, and risk his premiums increasing, again, or swallow the cost.
Asset theft is rampant across many Australian industries. The Australian Institute of Criminology estimates that in the construction industry alone over $390 million is lost each year. Let’s face it, asset theft is a cost most businesses could do without. Aside from the costs of replacing stolen equipment and the impact on insurance premiums there are time costs involved in procurement and administration.
For Andrew he needed a long term solution that would give him peace of mind his equipment was safe and control over these outgoings. Our answer for him was installing vehicle tracking systems on his highest value equipment. Here’s why.
Protecting large assets
The GPS capabilities of vehicle tracking systems make them the ideal guard dog for large, high value equipment. The trackers utilise geo-fencing technology, creating a virtual perimeter around the equipment. A fence can be created around the work site, the hire site, the warehouse, the block or even the suburb the equipment is being used. The moment it crosses that boundary you are alerted.
The immediacy of the alerts puts the power back in the owner’s hands. It’s no longer a case of turning up to the site the next day to find it missing, or waiting…. waiting… waiting to see if the hired piece is returned.
The tracking systems have live location data to make recovery quick and anti-tamper alerts.
Flexible tracking for smaller businesses
Plug n Go style systems are ideal for smaller businesses with a tighter budget or hire companies that may not need asset tracking 24 hours a day, 7 days a week on all their gear. These smaller trackers can be shifted and shared between equipment. As it’s checked out the door, attach the tracker, set up the geo-fence and be comfortable in the knowledge you’ll know exactly where it is at all times.
Small assets, low value, still need tracking
What about lower value assets. Those under $10,000 or even $1,000? Austracker works with you to build a a return on investment case.
If your business shifts bins, coffee machines, rug cleaners, apnoea machines, trailers, wheelchairs or anything small and highly portable you need protection against theft, especially if your business is shifting hundreds or thousands of them.
Whilst a full vehicle tracking device for each item may not be practical for these items, Bluetooth beacons are. These small, light and cheap ‘tokens’ give accurate location information for whatever they are attached too.
Your most important asset, people
Of course your most important asset, your staff, require protection too. Almost everyone who has staff who work out of hours, on call, remotely or solo, will have a story about a ‘incident’ or a ‘near incident’ that could have ended in injury or death.
Many vehicle based tracking systems can come with the option of personal safety fobs. An employee can, at the touch of button, request help. Their exact location is sent to you and an emergency crew can be sent within minutes.
One of our clients had a driver who was allergic to bees. He was driving between Sydney and Melbourne on the Hume when he got stung. He had enough time to pull the truck over and press his fob, but not enough time to get to his bag with his epipen. Thankfully, due to the personal alarm, his employer called emergency services and he had an ambulance with him within minutes, saving his life.
Back to our friend Andrew. How is he going two years on? Well, a few months ago he lost a $45,000 excavator. Somehow it just wandered offsite overnight. Using his vehicle tracking system he found its location and recovered it, without incident the next day. There was no claim required, the asset was returned in one piece and his insurance premiums haven’t increased since installing the tracking. By fitting a small solution and a nominal monthly cost Stolen Vehicle Recovery becomes a matter of hours, not months.
Looking for Vehicle Tracking System but unsure where to start? Download our free toolkit to choosing the right system, to get the right results for your business. Cut through the jargon and the sales talk and fast track your GPS journey.
*Not his name