What is GPS asset tracking?

What is GPS asset tracking, and why should my company consider it? These are the kinds of questions that often come to mind when discussing what is GPS asset tracking. In fact, many people, even those working within large companies, may struggle to grasp the concept of GPS tracking.

In today’s fast-paced and ever-evolving business landscape, the need for efficient asset management has become paramount. Companies across various industries are constantly seeking ways to streamline operations, reduce costs, and enhance security. This is where comes a powerful solution.

Let’s dive together into the world of GPS asset tracking – exploring its history, implementation, advantages, disadvantages, and how your company can benefit from this technology. Our main goal here is to clarify this topic and ensure that, by the end of this article, you will have a clear understanding of its importance in your company’s day-to-day operations.

What is GPS asset tracking?

For starters, we have to clear this question in the most clear and simple way possible. So GPS asset tracking is a highly advanced system that seamlessly merges the capabilities of the Global Positioning System (GPS) – a satellite-based navigation system that provides precise location and time information anywhere on Earth – with telematics to offer real-time monitoring and management of assets.

The underlying GPS technology, a constellation of satellites encompassing the Earth, furnishes precise location and temporal data regardless of the asset’s global location.

The assets under surveillance encompass a broad spectrum, including vehicles, machinery, equipment, containers, and high-value cargo. The primary goal of GPS asset tracking is to empower organizations with precise, moment-to-moment insights into the whereabouts and conditions of their valuable possessions.

This cutting-edge technology hinges on a network of GPS satellites that circle our planet, engaging in constant communication with GPS trackers or devices seamlessly integrated into the assets. These trackers are proficient in gathering an array of data, ranging from location coordinates to sensor readings and other pertinent information. Subsequently, this data is relayed to a central server where it undergoes thorough processing.

Users are granted access to this trove of information through user-friendly web-based or mobile applications, providing them with the critical data necessary for informed decision-making. In essence, GPS asset tracking revolutionizes asset management by facilitating proactive measures, improving security, reducing operational costs, and ultimately optimizing the overall efficiency of asset-centric operations.

By combining the precision of satellite technology with real-time telematics, GPS asset tracking stands as a transformative solution for organizations seeking to enhance asset visibility, streamline processes, and bolster their bottom line.

The history of GPS asset tracking

The origins of GPS asset tracking can be traced back to the development of the Global Positioning System by the United States Department of Defense in the 1970s. Initially, just like the Internet itself, GPS technology was primarily used for military and scientific purposes. However, it didn’t take long for innovators to recognize its lucrative potential in civilian applications, including asset tracking.

The commercialization of GPS asset tracking began in the late 20th century, with companies recognizing the immense value it could bring to various industries. As technology advanced, GPS trackers became more compact, affordable, and capable, making them accessible to a broader range of businesses.

The 21st century saw a significant expansion of GPS asset tracking systems – driven by advancements in wireless communication and sensor technologies. Today, GPS asset tracking is a ubiquitous tool used by organizations worldwide to manage their assets more effectively.

How to get GPS asset tracking for my company

Now that you know what is GPS asset tracking, it is time to define how your company can have the technology working for you. Several key steps should be taken here, as you can see below.

• Identify Your Needs: Start by assessing your organization’s specific requirements. Determine the types of assets you need to track, the level of detail required, and your budget constraints.

• Choose the Right Hardware: Select GPS tracking devices that are compatible with your assets. These devices should be durable, have long battery life (if necessary), and offer the necessary features like real-time tracking and sensor integration.

• Select a Service Provider: Research and choose a reputable GPS asset tracking service provider. Ensure they offer the features and support you require – the provider will often supply the tracking devices and the software platform for managing your assets.

• Installation and Integration: Install GPS trackers on your assets following the manufacturer’s guidelines. Integrate the trackers with your chosen software platform to start receiving data.

• Training and User Adoption: Train your employees on how to use the GPS asset tracking system. User adoption is crucial for realizing the full benefits of the technology.

• Data Analysis and Decision-Making: Once your assets are tracked, use the data generated to optimize your operations. Monitor asset location, performance, maintenance needs, and security in real time.

• Evaluate and Improve: Continuously evaluate the effectiveness of your GPS asset tracking system and make improvements as needed to align with your evolving business goals.

The Pros and Cons of GPS Asset Tracking

Now that you know what this technology is all about, let’s dive into the pros and cons of having this technology in your company. GPS asset tracking comes with its own set of advantages and disadvantages:

Pros

• Real-Time Visibility: GPS asset tracking provides real-time visibility into the location and status of assets, enabling quicker response to issues and improved decision-making.

• Enhanced Security: It helps deter theft and unauthorized use of assets, reducing the risk of loss and increasing asset security.

• Efficient Resource Management: By knowing asset locations and utilization, companies can optimize resource allocation, reduce idle time, and enhance overall efficiency.

• Cost Savings: Improved asset utilization, reduced maintenance costs, and decreased theft risk lead to significant cost savings in the long run.

• Compliance and Reporting: GPS asset tracking simplifies regulatory compliance and reporting, ensuring your operations meet legal and industry standards.

• Improved Customer Service: For businesses involved in logistics or services, GPS tracking enables better customer service by providing accurate arrival times and delivery updates.

Cons

• Initial Investment: Setting up a GPS asset tracking system from the ground up requires an initial investment in hardware, software, and installation.

• Maintenance and Updates: Regular maintenance and software updates are necessary to ensure the system’s reliability and security. A forward-thinking company will consistently view maintenance as an investment rather than a challenge. 

• Data Security: The data collected by GPS tracking systems must be adequately protected to prevent unauthorized access or breaches.

• Employee Resistance: Employees may initially resist GPS tracking, fearing it could lead to increased scrutiny or a lack of trust.

Now you know what is GPS asset tracking – so make sure your company is up to date

Now you know that GPS asset tracking has revolutionized the way organizations manage their assets by providing real-time visibility, enhancing security, optimizing resource management, and delivering cost savings. The technology has come a long way since its inception as a military navigation system, evolving to meet the diverse needs of businesses across various industries.

To implement GPS asset tracking successfully, it’s crucial to understand your organization’s unique requirements, select the right hardware and service provider, and ensure proper user adoption and training. While there are some drawbacks, its benefits far outweigh the disadvantages when implemented thoughtfully and responsibly.

As technology continues to advance, we can expect GPS asset tracking to become even more integrated and indispensable in our modern business landscape. Embracing this technology can give your company a competitive edge, enhance operational efficiency, and pave the way for a more secure and profitable future.

Ready to unlock the power of GPS asset tracking with Datanet IoT Solutions? From asset trackers to environmental remote gateways, we offer a comprehensive range of tracking solutions tailored to your unique needs. Besides, our team of experts ensures a smooth integration of our solutions with your existing infrastructure – guaranteeing a hassle-free experience. Contact us right now!