The National Insurance Crime Bureau (NICB) reports that “nearly 1,000 pieces of commercial equipment are reported stolen each month to the National Crime Information Center (NCIC)” and have a recovery rate of less than 20%. The annual cost of equipment theft is estimated to range between $300 million to $1 billion.
What can you do to protect your heavy construction equipment while you and your employees are enjoying quality time with family?
Despite these bleak statistics concerning heavy equipment theft, fleet and asset managers do have one advantage on their side: global positioning system (GPS) technology. Equipment theft prevention is possible through the use of GPS tracking for construction equipment.
Whether you rent heavy construction equipment out to third parties or your organization owns heavy equipment that your in-house team uses, GPS for construction equipment is an issue that affects not only your bottom line but your operations as well. In addition to the cost of replacing stolen construction equipment, you also have to contend with the downtime in your operations that results from having equipment missing from your inventory.
A geofence is a tool in the Rastrac software dashboard that allows you to outline virtual boundaries that correspond to real-world geographic locations. Geofencing enables you to create multiple geofences — as well as geofences within geofences — around areas that you wish to closely monitor, such as high crime areas, jobsites, equipment storage lots, and office parking lots. These boundaries can be designed into a variety of standard and customizable configurations to fit the area you wish to monitor.
If you set a geofence around a jobsite, you’ll receive an instant, automated alert whenever a piece of tagged heavy construction equipment either enters or leaves that boundary. This capability helps you to increase your equipment theft prevention efforts and keep your machinery safe all year long.
Rastrac’s construction equipment tracking software uses GPS technology to remotely monitor your equipment and their locations, as well as send automated alerts for specific functions. These notifications can be programmed to send alerts for a variety of different events.
If you receive a notification indicating that your equipment has moved, there is a way to help prevent it from disappearing. Some Rastrac tracking devices are capable of using a starter disabler function. Although this function will not stop an active vehicle that is currently in operation, the next time someone tries to activate the starter, it will prevent it from starting.
All of these tools and functions can help you to prevent your heavy construction equipment from being stolen this holiday season and throughout the rest of the year.
Additionally, this tool has a time-based feature that can be programmed to disable or enable the starter at set times — so, if you want it to operate during daytime hours but want the starter to be disabled at night (or vice versa), you can program it to do so.
To learn more about GPS tracking for heavy construction equipment or to schedule a demo, contact our team of experienced and knowledgeable project consultants at Rastrac today.