Heavy equipment dealers’ profitability depends on efficiently renting out their assets and keeping them in good working order for the long term. Additionally, to protect and preserve their assets for as long as possible, dealers also must deter theft and reckless use by customers.
On top of that, if the dealer’s name/logo is emblazoned on vehicles for the public to see, it is critical for safety and for brand reputation to prevent any dangerous actions, such as speeding, that could damage the brand or even invite liability in the case of serious accidents.
As a proactive move, a growing number of dealers are choosing to add a real-time, around-the-clock GPS tracker for heavy equipment rentals to ensure better fleet management. Continuous GPS tracking enables dealers to see instantly where all of their heavy equipment assets are at any given moment. Compared with typical GPS tracking devices that might update only every few minutes, advanced systems today can provide real-time location updates every 10 seconds, as well as location, speed and idle time alerts if something is amiss. Additionally, such systems have access to speed limits nationwide in their databases.
When considered from the perspective of contractors with heavy equipment such as cranes, bulldozers, moving trailers, dump trucks, etc., the GPS tracking technology could be a relevant and prudent application. GPS tracking would increase the level of accountability of the company’s workers by tracking their speed and providing real-time notifications of improper use, which would deter workers from improper use as well as provide project supervisors an opportunity to intervene prior to an accident occurring, thus potentially reducing a company’s liability at a job site while increasing safety. In the rare instance that heavy equipment was to be stolen from a job site, GPS tracking technology would also provide the company an opportunity to recover the equipment by providing law enforcement with a precise location of the equipment at any time.
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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.