GPS tracking for the equipment rental industry is quickly becoming an absolute necessity.
There is no doubt that there are the tools out there to help your fleet management improve efficiency, save on fuel costs, monitor engine time and more. This massive influx of data has occurred due to more and more companies relying on GPS tracking and telematics data.
A recent article on the future of fleet management goes into great detail on the benefits of such programs.
"Those involved in the expansion of telematics say the eventual possibilities of what fleet owners and fleet managers will be able to do are endless," Wayne Walley writes.
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For a business that rents out equipment, this data can be extremely valuable. "For example, end users will be able to quickly identify and locate specific assets, track their utilization, monitor meter hours or odometer, and monitor engine performance and fuel in full digital engines, says Greg Nierenberg, vice president of fleet operations for Hertz Equipment Rental Corp. "Telematics has come a long way from simple GPS location and a dot on a map," he continues. "It now allows fleet owners and customers to have real-time insight into how their assets are working, to work smarter, not harder."
"Maintenance and fuel cost will be the first real wins of telematics by simply knowing the status and by being proactive versus reactive to fleet needs. Given that the industry is in the infancy of the telematics journey, I think the sky is the limit," he says.
A huge benefit to having this data as an equipment rental company is the ability to control maintenance of your valuable and expensive equipment. You can already know what is wrong with your equipment before you send your technicians out to repair the problem, thus saving valuable time and money. This, along with allowing for less time to be spent looking for an asset to pick up, and always knowing the hour meter or odometer of your equipment allows for maintenance to be scheduled on time. This will all reduce downtime and costly repairs.
With RASTRAC, you are already able to do all of these things and more. Real-time alerts can be set-up and sent directly to your e-mail or cell phone. This can allow you to fix a minor problem before it becomes a major issue.
As you can see, GPS tracking for your rental equipment goes way beyond just preventing theft. "The return on investment for telematics almost always is favorable in any circumstance, too. The big benefits for rental companies are location, security, fleet analytics, scheduling maintenance and machine health. These benefits aren't as easily quantifiable as the benefits to contractors, such as idle time and fuel consumption, but can really help a rental company operate leaner and increase customer loyalty."