The greater need to streamline the Asset Tracking system comes straight proportionally with the growth and maturity of the information technology.

In general, trucking companies in the USA have started managing their assets by using a configuration management database. The need for easy access to what is the condition and worth of the assets is becoming more and more indispensable.

Moreover, the reason why the asset Tracking system is becoming more and more important in the trucking industry is mainly that the complete end-to-end asset management solution can provide companies with the detailed reporting about their assets, and that is helping them in obtaining the necessary budget allocations.

Henceforth, it is obvious that the technology has matured, and positively it has brought the security of high-value assets. Also, the numerous innovations that the asset tracking system has undergone through, has led it to become a necessity, not a luxury for the trucking companies.

Further, in this article, you will have the chance to read all facts and figures that you need to know prior getting asset tracking system.

So, let’s take a look!

1. How Does Asset Tracking System Works?

There is a big difference between inventory and assets. That is why I would like to start this article by explaining how the asset tracking system in fact works, and what is the main purpose of its invention and integration.

So, the asset tracking system is used by many trucking companies nowadays. Well, it is so mainly because it can keep track of the permanent items that trucking companies are using internally.

In spite of that, the asset tracking system will keep track of the following things:

1. Warranty information as well as service contracts;
2. Will help you with the schedule truck maintenance;
3. Import and export data;
4. Calculate the depreciation of your equipment;

Moreover, the asset tracking system can keep track of the overall assets that your trucking company has, starting from the computer equipment up to the trucks and trailers.

Still, on the other hand, you should be aware of the fact that there are different data capture solutions for each managing inventory and assets.

Thereupon, when choosing an asset tracking system you should make sure that you will select the best system that can fulfill the needs of your trucking company.

2. Asset Management: What Difference Will It Make?

Straight after you implement asset tracking system in your trucking company you will come to the realization that it does make difference.

But what kind of difference does it make? How will that difference be manifested?

Be that as it may, the difference that asset tracking system will make in your trucking company will be noticeable straight away in day-to-day routines. Thus, the better-managed asset data the better emolument your trucking company will receive.

So, when I say better emolument, I refer to the enabled access to records in real time. Thereupon, these records will keep you away from inaccurate asset information.

I bet that you will come to realize that when you start using asset tracking system you will prepare and file reports much quicker than before. On the positive side, getting asset tracking system is alike saying good-bye to compiling data for reports.

Hence, it is positive for you to know that in general, the asset tracking system has many user-friendly tools. Also, the asset tracking system will make sure that you will always have on your disponibility a complete history of the overall activity in your trucking company.

Yet, I must not forget to mention the automate asset transfers. The asset tracking system will provide you with increased efficiency, enforced compliance and many more positive features that come altogether with the automated asset management solution.

For the purpose of getting asset tracking system, you should also know that it will provide you ultimate maintenance of the assets.

3. What Organizational Benefits Does An Asset Management System Provides?

An asset management system will touch upon many aspects of your trucking company; straight proportionally it will bring many organizational benefits.

Accordingly, the asset management system will increase the control of your assets as well as their locations. Also, not only that you will increase the control of your assets with an asset management system, but you will as well increase the efficiency of the physical space in your trucking company.

Briefly said, by getting asset tracking system you will receive the following benefits:

1. You will make informed decisions on multiple aspects;
2. Better financial results and cost reduction;
3. Higher customer satisfaction;
4. Traceability;
5. Stability and improved reputation;

By and large, if you choose the perfect asset tracking system for your trucking company, you will anticipate the real needs that your company has. In addition, you will also be able to identify the trends in advance.

4. Will Asset Tracking System Bring You Scalability of Cost and Scope?

Will asset tracking system bring you scalability of cost and scope, depends mainly on the type of asset tracking system you will choose? For example, there are cloud-based tracking system as well as tracking systems that require long-term contract and upfront investments.

Later on, the asset tracking system that will provide you scalability is the one that will provide you the option of multiple features and modules. Yet, after all the software upon which the asset tracking system is running is robust, and as such, it is offering as many modules as you need whereas at the same time tracking millions of assets on different locations.

In essence, if we make a comparison between the asset tracking system that requires you to purchase the software, and the asset tracking system that is cloud-based, we can see that the asset tracking system that will help you avoid a major upfront investment is the second one.

5. Check If Asset Management Can Bring You Regulatory Compliance

Since you are part of the trucking world for many years, you know that the regulatory compliance is of a great importance in this industry. So, I do believe that you are over misplaced log sheets, forgotten procedures as well as failed inspections.

Well, sooner or later you will see that the asset tracking system will bring a regulatory compliance to your trucking company.

Thereupon, the asset tracking system will bring you regulatory compliance by collecting the information about your assets and storing it on an ongoing basis. That way not only that you will receive regulatory compliance since you have the required documentation up to the regulations, but as well you will have an automated truckers’ workflow.

6. Asset Management System Enables You to Maintain Your Equipment

One of the main reasons why trucking companies decide to get asset tracking system is due to their need of equipment management. So, there are asset tracking systems that do offer the ability to track as well as report the equipment repair.

In general, the asset tracking system shall provide you a simple and effective equipment management as a maintenance database. Thereupon, the asset management system will enable you to maintain your equipment by housing all asset and equipment information in one centralized location.

So, as we can see the asset tracking system can keep you informed about:

• The repair date;
• Upcoming maintenance;
• Warranty expiration date;
• Equipment location;

All in all, the asset tracking system will definitely replace your traditional filing cabinet, it will also help your trucking company monitor the performance of your fleet and equipment. You will see that reporting the equipment downtime as well as record downtime history has never been faster and easier.

7. Developing Effective Processes and Documentation with Asset Management System

Well, as you already figured out, it is in the essence of the asset management system to keep and to develop effective processes and documentation in your trucking company. In regards of that, I would like to add up few words.

First of all, asset management system is designed to keep a record, which is to say to track, store as well as manage your documentation. That way not only that you will reduce the papers in your office, but you will be more efficient as well.

In general the asset tracking system has its roots, that is to say, its concepts from content management systems.

Thereupon, by using the asset management system, which will develop effective processes and documentation in your trucking company, you will experience better workflow. In addition to the improved workflow, you will also remain in compliance with the government regulations.

There are government regulations that require trucking companies to control their documentation. Trucking companies shall always work in compliance with: FMCSA, ATa, OSHA, DOT.

8. Check Which Real Time Tracking Features You Get With Asset Management

Asset tracking system is providing the option of real-time tracking which enables you to know what the exact location of your fleet and equipment is at any time. Straight proportionally it is featuring deliveries and returns into the central database.

Briefly said, real time tracking is working in the way that it is sending reports of the frequency of the real-time GPS tracking device, while at the same time the fleet manager or the dispatcher is tracking the overall activity of the trucks.

So, by using real-time tracking you will enjoy the following benefits:

1. Knowing what your fleet is doing 24/7;
2. Delivering more value to your customers;
3. Monitoring the fleet in real time;
4. Managing the fleet efficiently;

Tracking the real-time traffic jams, as well as the traffic congestion and the weather is all possible these days thanks to the feature of real time tracking.

9. Things You Have To Determine Before You Buy Asset Tracking System

Here are few points that each trucking company should determine before buying an asset tracking system:

1. What types of assets does your trucking company have;
2. What is the volume and type of assets;
3. What is the location of your assets;
4. What reporting potential does your company require;
5. How many users are going to use the asset tracking system (how many licenses will you need for the asset tracking system);

10. Does The Software On Which The Asset Tracking System Runs – is Easy To Use? Is It Flexible?

You have decided to get an asset tracking system for your trucking company, but you are in doubt whether the software is easy to use?

Well, to be sincere there is a difference among asset tracking systems, but all in all an asset tracking system shouldn’t require extensive training. Each asset tracking system should be easy to embrace. Further, by being easy to use it will provide a friendly interface among its users.

So, as my experience says, the menu functions are always placed in a logical order. The most commonly used functions are always at the top of the menu list.

On the other hand, when it comes to flexibility, the asset tracking system has various solutions on your disponibility, and these solutions can bring you the long needed conform to your needs and requirements.

Thereupon, if the asset tracking system is easily configurable, it will for sure be a flexible one. The most flexible asset tracking systems allow variations in routine and are easily adjustable to exceptions.

11. Does The Software Support a Variety Of Mobile Devices?

It is quite logical that when a trucking company is searching and selecting an asset tracking system to be looking for one that enables support on a variety of mobile devices.

Well, first of all, it is of a great importance for the trucking company to have a software that is supported on a variety of mobile devices because of their departments and employees/ truckers.

Further, as an owner of a trucking company I bet that you will want a software which will be supported on portable devices, such as are the smartphones. Bear in mind that an asset tracking system that is enabling you to work with any type of mobile devices will return your investment without a doubt.

12. Is The Asset System In Your Budget?

Unfortunately, it is no secret that nowadays there are many trucking companies that are still not using asset tracking system. But what is the main reason behind that fact? Is it due to the budget? I believe that you are asking yourself these questions.

Well, in general, the trucking companies that are not using the asset tracking system are small to medium sized businesses.

These businesses are mainly not using asset tracking system due to limited budgets, or due to truck driver shortage.

Nevertheless, instead of using spreadsheets or databases, trucking companies can become more efficient with asset management systems, it is no doubt. That is why every trucking company should look on the bright side- there are asset tracking systems these days that are paying for itself.

So, if you want to get the most out of the asset tracking system then you will have to have a clear view of your hardware and software assets. Through that process, you will see that the software will keep control of your trucking company and will reveal the true value that your assets are delivering to you.

13. Asset Tracking Helps In The Prevention Of Cash Flow Problems

The far-reaching positive impact that the asset tracking system is leaving includes the prevention of cash flow as well. Therefore, the asset tracking system is preventing cash flow problems by identifying the items in your trucking company that needs the most attention.

Moreover, by using an asset tracking system you will easily determine the monetary impact that your fleet is giving to your trucking company. Hence, that way your trucking company will keep a higher amount of the vital stock.

Since I’m part of the trucking business for many years I have come to encounter many trucking company owners. All of them have told me that, thanks to the use of asset tracking system they have balanced the costs of their company’s needs.

14. What Are The Most Important Fields You Need Asset Tracking System?

Gaining secure access to critical information from any device is crucial for the success of each trucking company.

Thereupon, trucking companies that are using asset tracking system are enjoying numerous benefits from it, such as are:

• Improvement of the performance and security of your information system and applications;
• Quick scalability for backups as well as data storage;
• Decreasing the exposure to government compliance record keeping violations;
• Real-time support that is addressing the issues whenever needed;

So, the most important fields that a trucking company needs asset management would be:

1. Building and maintaining the assets;
2. Management of the servers, the VoIP systems as well as the workstations;
3. Remote device security;
4. Help Deck Service in the states where the fleet is operating;
5. Secure data backup and disaster recovery;

15. Get Informed How To Optimize The Asset Tracking System Life Cycle

First of all, you should remember that asset tracking system optimization cannot happen at once. Quite the opposite there are several levels that each asset tracking system should undergo in order to optimize its life cycle.

Thereupon, the most common reasons why a trucking company wants to optimize the asset tracking system are the benefits, timing as well as cost.

So, if you decide to optimize your asset tracking system then you should know that there is a transparent mix of different types of activities about the same asset that you re tracking.

Later on, we can also define the life cycle optimization of the asset tracking system as the best value mix of activities that will lead to a more sustainable asset tracking system performance.

16. Can The Asset Tracking System Integrate With The Existing System That You Are Using?

When a leader of a trucking company is looking for an asset tracking system, for him and for his trucking company is of a great importance that the asset tracking system can integrate with the existing system that they are already using.

Moreover, the most important keys that an asset tracking system should do is to embrace integration, real-time data, as well as to embrace the cloud.

Therefore, the asset tracking system should easily integrate completely with the wider enterprise, especially with the asset tracking applications and devices that the leader of the company and the truck drivers are using.

Later on, mainly the integration of the asset tracking system with the existing system that the trucking company is using is of a great importance because that way the trucking company will generate the actions that define and drive the value to a proposition.

On the other hand, if the asset tracking system has an easy integration, which will mean that the right data is available to the right application at the right time, whereas it is reducing the total cost of ownership.

17. Enhance Security and Provide Greater Transparency with Asset Management System

As an illustration of how much the asset tracking system is essential for the trucking companies, I will take the enhanced security and the greater transparency that it is providing.

So, many trucking companies in the USA are getting asset tracking systems to automate the compliance, management, security as well as the financial benefits.

Hence, the asset tracking system is helping the trucking companies to adhere to industry policies as well as to organizational policies while at the same time supporting the systems and the software currency.

Another key point is that the trucking companies are enhancing security and provide greater transparency because the asset tracking system, when combined with a command center, can deliver unprecedented control of the assets with real-time visibility of their status. Yet, it can reduce time to resolution whereas analyzing the data in conjunction with the structured data.

18. Is It Possible To Perform Asset Tracking System Customization?

Asset tracking system customization is possible. Yet, there are many asset tracking system providers who are offering customization services.

In general, it is not uncommon for a trucking company to ask for a specific request, whereas on the positive side asset tracking systems are flexible and can be customized. So, if a customization is essential for your trucking business, then do not worry because it is doable.

Thus, the customized asset tracking systems are running on the general release software, plus the added customized features. In fact, the customization is enabling the users of the asset tracking system to migrate to future versions of the already existing software.

19. Is There Any Support Included In The Asset Tracking System Price?

A point often overlooked is that the actual costs of getting the asset tracking system are not as big as are the costs of the initial collection and recording of the asset data. So, when buying an asset tracking system have that in mind, and add the several hidden costs.

I would like as well to mention that the hidden costs include the performing of manual audits of the data altogether with the stranded power and increase shut down risk.

But on the other hand of the additional cost, we have the support that comes hand in hand with almost every asset tracking system. Most commonly the support that you get with the asset tracking system is included with the final price that you are paying for the system.

Henceforth, the cost of the asset tracking system on a large scale can vary dramatically based on the functionality of the system and the fact whether or not the system is purchased from a third party vendor or is developed internally.

20. Embrace Mobility

By using asset tracking system you can easily embrace mobility. It’s simple as that, increased visibility leads to embracing mobility without worrying about anything.

Well, you will be in the position to easily embrace mobility because the asset tracking system is constantly keeping track of the assets that your trucking company has and that can improve the security and time-efficiency.

Thereupon, one of the main features that asset tracking systems are offering to their users is the detailed operational record keeping. Usually, the operational record keeping includes information such as are the:

• Warranties;
• Service history;
• Maintenance;
• Upgrades;
• Purchase History, and so on;

Under these circumstances, you should know that keeping track of trucking company’s assets is far more complicated that keeping track of assets at other companies or organizations. It is so because the assets can vary from a trailer, power inverter, tractor to people.

Nevertheless, keeping track of the trucking company’s assets is complicated but still at the end of the day if the asset tracking system is functional it can enable mobility to the trucking company.

Conclusion

To enumerate, if a trucking company wants to be successful, and a leader in the trucking industry then it needs to control the entire asset management process. And what a better way to control the entire asset management process of a trucking company than with asset tracking system. I would like to suggest you these asset tracking systems: ePROMISE Solutions, Oracle, JDA Software.

All in all, the asset tracking system will lead the trucking company to awareness of the risks against the desired performance of the assets. Not only that the asset tracking system will put on the plate the desired performance of the assets but also it will centralize that activity and will enhance the overall productivity.

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