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The Insight Source Blog

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Lance Holt

Author: Lance Holt

Content Marketing Specialist

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Why Do Equipment Rental Companies Use GPS Tracking?

Equipment Rental Tracking

There are three main reasons why equipment rental companies use GPS tracking for their business:

Theft Deterrence/Recovery

Maintenance

Invoicing/Billable Time

If your company is facing any of these issues, read this blog to learn how GPS tracking helps equipment rental companies overcome these three business challenges.

Recovering Stolen Equipment with GPS Tracking

The reality is that equipment rental companies are at a higher risk for theft than any other industry, so keeping track of equipment locations at all times is a high priority. Losing one piece of equipment can mean tens of thousands of dollars out of your pocket and productivity can take a hit during the time it takes to replace it. GPS tracking solutions will alert you when equipment moves from a certain location and where it’s going. This has allowed companies to act quickly in order to recover their equipment.

Improving Maintenance

GPS tracking has significantly impacted maintenance management by leveraging its automated process to monitor services fleetwide. The main aspect of GPS tracking that helps equipment rental companies keep up with maintenance is the ability to monitor run time. GPS tracking will allow you to schedule maintenance based on the equipment’s runtime. This will help ensure that maintenance is done on time and allow you to plan for downtime so that productivity is not lost.

Increasing Invoice Accuracy and Billable Time

Monitoring run time offers another benefit to using GPS tracking on your equipment, which is increasing your invoice accuracy and billable time. If you bill customers based on the runtime of the vehicle and/or equipment, then knowing the exact amount of runtime will increase your invoicing accuracy. Monitoring runtime will eliminate the need to bill by the day, half day, by the hour, or by going off of the odometer reading when equipment arrives back at your yard. GPS tracking will automate this very manual process of keeping track of the meter by hand.

Whether you need the peace of mind knowing you will be able to recover stolen vehicles and equipment, better monitor maintenance, or increase your billing accuracy, GPS tracking will provide all of these benefits and more.

 

 

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