Why is Fleet Asset Tracking Software Important? (Top Reasons + Use Cases Listed)

Asset tracking software is an all-rounder that lets you live track your powered or unpowered assets like trailers, containers, consignments. Discover how it ensures your assets are end-to-end protected and walking on the shortest routes!

Imagine waking up to the news that your important consignment worth 6 million got lost in thin air or never reached the client site. Even in dreams, this statement is nothing less than a nightmare, let alone in reality.

Sad but true! Cargo theft spiked over 57% in 2023 vs. 2022!

Do you know nearly $130 million worth of goods were stolen in 2023? This amount is likely to be higher as reporting cargo theft is not mandatory.

GPS asset tracking is a growing need for transportation and logistics businesses that often deal with the frequent transfer of high-value consignments. Onboarding an advanced fleet asset tracking software is a solid choice. Because it not only helps you have a live, ongoing view of your valuables but also aids in better data analysis and real-time decision-making.

In the long term, having such software propels your business toward delivering exceptional customer service.

What is Asset Tracking?

Asset tracking is when  you can monitor the location and movements of your high-value vehicles, consignments, and mobile workforce like delivery drivers — over a live map from a distance. The process ensures you as an asset manager have visibility and control of every action or process taken to safely and timely transport shipments.

But…you don’t just view the trip schedule; you also get to elevate the utilization and productivity level of the fleet and immovable assets like trailers, containers, and heavy equipment—loaded with high-value goods.

Importance of Asset Tracking Software – Why You Need it Right Away!

Here are the reasons why you need to understand how GPS asset tracking software as a part of advanced fleet management software can help you get the most value out of your priced possessions.

1. Know Every Route & Turn (with real-time GPS tracking)

With a fleet asset tracking software, you get to monitor and track your valuable fleet or assets whenever they are on or off the road. With one click, you can get access to your assets’ current geo-coordinates, speed, and total mileage covered.

💡What’s the best part? The asset trackers used in the process are robust in build and have longer battery life. Highly durable even when your vehicle is travelling for long multi-stop routes in harsh weather conditions. Quite worthy! Explore 500+ Asset Trackers Our GPS Vehicle Tracking Software is Compatible With!

2. Access Which Asset is Utlised Less (Or More than HOS)

With GPS asset tracking software, you get detailed and insightful reports highlighting events around:

• Vehicles/Assets HOS (hours of service).
• Vehicle’s actual utilisation rate – was it under or overutilized?
• Every vehicle’s dwell time at defined pit stops.

The silver lining – You get visibility of how well your valuable fleet or assets are getting utilized. Under-utilization and over-utilization of assets on any given day are risky as they can cause the engine to stall.

And…

This could further increase the number of sudden breakdowns or engine failures while driving. You wouldn’t want that, for sure!

3. Know How Your Assets Are Being Used

While sitting at a far-off location, easily monitor the current status and condition of your assets. Get alerted whenever your vehicles or assets deviate from the assigned route. You can effortlessly set up geofences and receive alerts whenever your assets enter, exit, or cross the defined geofenced zone.

At a click you can enjoy automated up-to-the-minute reports to uncover areas where efficiency is impeding and fix them before time.

Over a single dashboard, you can access a detailed view of each vehicle, trailer, or powered asset in your fleet. Also, when managing cold chain assets, the system shoots alerts when the temperature is delving or the voltage is fluctuating in the vehicle’s refrigeration system.

4. Set up Maintenance Schedules (preserve your asset’s lifespan)

Fleet asset tracking systems are so good at scheduling and managing maintenance tasks that you can keep up your vehicle’s ideal health. When your asset’s maintenance schedule is on point, you can avoid mid-route vehicle malfunction, unexpected downtime, and business losses.

Best part? The fleet asset management system flexibly lets you adjust maintenance notific­a­tions based on engine hours, odometer, or the time passed since the last prevent­ative maintenance was scheduled.

5. Preserve Asset’s Integrity and Loss (or recover what’s stolen)

Other than live tracking movement of assets 24*7, you receive alerts for activities suspecting danger such as theft or unauthorized acquisition of the asset. The system is packed with 50+ custom alerts, notifications, and announcements that keep you abreast of regular updates. The system has a smart SOS alarm that your drivers can ring just when the suspected danger emerges as a real threat.

TrackoBit’s asset tracking software with real-time geolocation data helps you prevent asset theft and misplacement. It’s easy to prevent incidents and secure your assets, be it vehicles or humans (remote workers and contractors) managing them.

💡Managers can immobilise goods-carrying vehicles — from anywhere! Asset management systems like TrackoBit are compatible with smart e-Locks that help mobilise and immobilise vehicles from any distant location. You can promptly use this feature in case of emergency or any uncalled for event.

6. Ensures Safe & On-time Delivery of Assets (with proof)

When you have important and high-value consignments to deliver – their safe and sound delivery is often the worry point. With a top-grade asset management system, you can share the live location and ETA via automated alerts to the recipients.

To ensure your high-value consignments have reached clients’ sites safely on the prescribed time, the system lets you generate POD (proof of delivery) via e-signatures, OTPs, QR codes, and other custom formats (as you like).

7. Uninterrupted Tracking (even in Multi-modal journey)

Wouldn’t it be best if you could track your assets or high-value consignments, without interruption, even while changing modes of transport — road, sea, rail?

While you transfer your consignments through multiple vehicles, the GPS asset tracking software will continue tracking assets’ location and whereabouts without latency and glitch.

With one click, you can get real-time alerts on the complete transport process, zone entries, geofence entries/exits, and more. With smart vehicle asset management it is super easy to timely identify events that are choking your seamless transfer or movements of assets.

Use Cases Where You Definitely Need Asset Management Systems

If you belong to the following industries, you should Improve fleet management with asset tracking systems.

1. Transportation and Logistics	If you are one of the trucking, shipping, and logistics companies with lots of exchange of goods, having an asset tracking software can help you: Plan better trips and routes. Monitor fuel consumption. Predict ETA for timely deliveries.
2. Construction and Heavy Equipment	If you are one of the construction companies with fleets of vehicles and heavy equipment, then you need an asset tracking system to: Track equipment utilisation rate Track maintenance scheduling Prevent theft
3. Utilities	If you are a utility company providing electricity, gas, water, and telecommunications services, then you need asset tracking software to: Track and manage vehicles and field technicians Timely response to outages and maintenance needs.
4. Delivery and Courier Services	If you are one of a delivery and courier services companies, having asset tracking software will help you: Better optimize your delivery routes. Monitor driver behavior. Provide accurate delivery estimates to customers.
5. Waste Management	If you are one of the waste collection companies, having an asset tracking system will help you: Track your garbage trucks to optimize routes. Monitor collection efficiency. Ensure timely pickup of waste.
6. Agriculture	If you are one of the farms and agricultural enterprises, leveraging fleet asset tracking software can help you: Monitor and manage vehicles and equipment used for planting, harvesting, and transporting crops and livestock.

These are just a few examples, but asset management can be beneficial for any industry that relies on a fleet of vehicles or assets for its operations.

Final Takeaway!

Asset tracking is an important and conscious step that every fleet-operating business needs to take. Integrating top-grade asset tracking software is the ultimate weapon for optimizing vehicle utilization and ensuring vehicles safely reach the delivery location.

The asset could mean ten different things — it can be a fleet, a mobile workforce operating that fleet, or important consignments carefully stacked in the fleet. The software is efficacious and robust enough to keep up with live and near-to-real tracking of all.

TrackoBit’s revolutionary asset tracking software can easily blend with any use case or business size you thrive with. If you are planning to grow your fleet or asset, no worries; our software will expand to meet your growing needs.

📞 Tring…Tring… Explore in 15 Minutes:

• 30+ unique features of our asset-tracking software.
• Enticing and customisable subscription model.
• Scalable modules to fit your business model, size, and use case.

FAQs on Asset Tracking Software!

• What is the importance of fleet asset tracking?

  GPS asset tracking helps you stay on top of your asset’s every move and turn. It lets you optimise the best routes, protect it against theft or loss, and ensure its optimal utilization. Over a single interface, you can track your assets’:
  - Engine hours, speed, and distance
  - Historic usage
  - Site entry and exit times
  You can even set reminders for scheduling maintenance and even look at the exceeding usage thresholds.

• What are the key benefits of GPS fleet asset tracking software?

  GPS fleet asset tracking software helps you track your vehicle’s utilisation rate, and current location and provides alerts whenever your asset is in a risky spot. With the system, you get complete visibility of your assets, get to take preventive measures, and stay assured about their safety.

• Why choose TrackoBit’s asset tracking software?

  TrackoBit’s GPS asset tracking software are to deploy and have a multitude of features to:
  - Live track assets in a multi-modal journey
  - Monitor engine hours & asset utilisation rate
  - Ring alerts for emergency or risky situations
  - Remind about due maintenance
  - Ensure seamless API integration with existing data-led software

• What are the top trends in fleet Asset Tracking and Management Software?

  Fleet asset tracking and management software in the future will have more AI and machine learning approaches. The systems will become smarter at mapping the vehicle's up-to-the-minute whereabouts more precisely and even help prevent risky externalities in due time.