Asset Tracking of Construction and Rental Equipment

Companies involved in the growing equipment rental business are faced with the increased risk of equipment theft. It is a huge challenge in the rental industry and can lead to project delays, missed deadlines, reputational damage, and lost revenue due to cancelled contracts and/or downtime. Fortunately, we have a simple. low cost wireless solution that provides maximum security for this type of equipment. 

CHALLENGE

Rental equipment is at an increased of theft. There are many reasons why it is easier for thieves to target rental equipment, including increased time in transit, rental under false identities and less effort by the renter to secure the equipment.

In addition, the value of stolen equipment is often significant - for example, the average stolen piece of construction equipment in the US is worth approximately $29000 and only around 21% of it is ever recovered.

The largest share of the rental market is in the construction industry, where equipment such as generators, concrete pumps, dumpsters, skips, portable toilets and many other construction necessities are targeted by thieves. Equipment rental is also popular in other industries, such as the healthcare sector, where medical beds, patient lifts, oxygen concentrators, medical ventilators and similar items can be targeted, as well as the live events industry, where amplifiers, lighting, speakers, or audio desks are the usual prey of criminals.

As a result, equipment rental is a growing business opportunity that comes with the challenge of an increased risk of theft. We have an effective solution to help these companies maximise the security and minimise the risk of their rental assets.

OUR SOLUTION

To solve the challenge of rental equipment theft in construction, healthcare, events and other industries, we use an asset tracker with tamper detection for maximum security of rental equipment. This GPS tracking device can be easily attached to metal surfaces using the included magnetic mounting accessory, making it very convenient to install on construction equipment, such as generators or air compressors, as well as medical devices and event rental items.

How it works - based on the user's preferences, the device regularly sends the movement-based periodic events at set intervals or according to a weekly schedule. In the event of an attempted theft, the Recovery mode scenario would be triggered, enabling frequent reporting and the owner could easily locate the equipment thanks to this asset tracker.

If a thief finds the tracking device and tries to remove it, the tamper-detection feature sends an immediate alarm notification. It uses advanced magnetic technology, one of the most reliable on the market today. By detecting tampering, the equipment owner can take immediate action to prevent theft. The location data of the exact point of tampering also helps further.

Our solution offers useful features, such as movement-based tracking, which allows tracking only when the asset is moving and not when it is in a warehouse waiting to be rented. Movement events can be used to learn when the asset has started or stopped moving. Finally, Bluetooth® LE support and the Lost BLE Sensor feature can help manage equipment when it's indoors and the GPS signal is weak or unavailable. Conveniently, other small, inexpensive BLE beacons can be used for this purpose.

In today's fast-paced world, managing rental equipment is a complex task that requires innovative solutions. Whether in construction, healthcare, events or any other industry, knowing the location and condition of company assets is critical. That's where an asset GPS tracker with tamper detection is invaluable to ensure less losses, better understanding of where equipment is and happy clients.

 Get in touch and find out how little it could cost to protect all of your assets.