Your business invests a lot of time and money in acquiring the fleet vehicles, machinery, and equipment it needs to get the job done. Wouldn't it be nice if there was a way to gain peace of mind that these valuable assets are always where they should be, even when you're not physically there to watch over them?
Good news—there is a way! You can improve fleet risk management and enhance fleet operations remotely and in real-time with a tool called geofencing.
What is geofencing? How can it help you protect your assets? Why is it such a valuable tool for fleet managers? We are here to cover the basics of geofencing and explain five key ways that it can simplify fleet management in your business.
What is Geofencing?
A geofence is a virtual perimeter for a real-world geographic area. Geofencing is a service provided by various apps, software, and devices that uses GPS tracking to trigger an action (such as a text message alert) when an asset enters or leaves the virtual boundaries of a set location.
What is Geofencing Used For?
Businesses in a wide variety of industries can use geofencing to monitor their workers in the field, automate the employee clock in/clock out process, and keep track of company property—whether that’s a piece of machinery, vehicle, or load of inventory.
How to Improve Fleet Management with Geofencing
If you’re wondering how to improve fleet management, geofencing can be a valuable solution. Here are five key ways that leveraging geofencing can help you streamline fleet operations, increase efficiency, and experience valuable cost savings.
1: Monitor Valuable Assets in the Field
Your vehicles and the inventory or equipment they’re carrying can be worth hundreds of thousands of dollars. Geofencing can help you protect these investments by giving you access to exact GPS tracking data remotely and in real-time. With alerts for when a vehicle or mobile asset leaves a designated area, you can always be sure that your valuable property is exactly where it should be.
2: Improve Payroll Accuracy
By implementing asset tracking systems with geofencing in your fleet vehicles, you can gain access to verifiable data that proves exactly when a worker arrives and leaves a work site. This allows you to keep an incredibly precise log of their time spent on any particular job. The result is a more accurate payroll that eliminates wasteful labor costs—especially when you have employees that are paid hourly.
3: Enforce Equipment Rental Contracts
If your business rents out vehicles or heavy equipment to other parties, using a fleet tracking system equipped with geofencing can help you enforce those rental contracts. For example, let’s say both parties have agreed on a certain service area, but you receive an alert that the renter has taken your piece of equipment outside of that designated area. Now that you know there has been a contract breach, you can handle the situation immediately, whether that means fining the renter or cutting the contract short.
4: Improve Employee Accountability
Your drivers are responsible for getting your vehicles and assets to the proper destination in a timely and efficient manner. If your drivers are using your vehicles for unauthorized activities or not adhering to the optimized routes you’ve strategically laid out through GPS tracking, it wastes fuel and time. With geofencing, you’ll receive an instant notification when a vehicle enters and leaves the work site. This ensures your construction equipment and vehicles are not being used outside work hours, and that your employees aren’t late to work because they were running a personal errand or taking a longer than necessary route.
5: Recover from Theft Quickly
Large fleet vehicles and construction equipment can be a tempting target for theft—especially when they’re left unsupervised at work sites after hours. With geofencing, if you get an alert that an asset has left a job site after working hours, you could be identifying a theft attempt while it’s still in progress. You can then continue monitoring its exact GPS location and immediately send those coordinates to the police, drastically improving your chances of recovering the asset.
Are you currently using one of Rastrac’s fleet management solutions and would like to take advantage of geofencing? Read this tutorial to learn how to set up a geofence within our software.
If you’re new to GPS tracking and are ready to make asset tracking systems a key part of your fleet operations, reach out to an expert to get started today!