Any rental company would agree that an affordable and intelligent data tracking service sounds perfect.
But neither the quality nor robustness of tracking hardware has so far been up for the harsh challenges machines and equipment in construction or manufacturing endure.
However, these days IoT data loggers have become extremely hard to kill, while still having a short return on investment.
This enables companies to finally embrace IoT tracking for rental activities.
Here are 10 reasons why rented construction machines and equipment should always have installed IoT data loggers – mostly for rental companies, but also for you as an end-user:
Imagine always knowing where your assets are. And then imagine that getting a complete overview is as easy as a click on your computer or your mobile phone.
Yes, it is actually that easy.
2. Keep track of data such as running hours
IoT data loggers can track motion from the slightest vibration to the harshest shock. Based on this use, you can receive automated PDF reports on the actual use of machines and equipment.
3. Ensure correct invoicing with data directly from your assets
Use PDF reports on running hours to invoice your customers based on the actual use of machines or equipment.
Or use the tracking software to set up a certain geo zone and let the rental period start and end when assets arrive and leave.
4. High rates of theft recovery
Offer your customers an effective service against theft with high recovery rates.
React quickly when assets are reported stolen by using the position data from your assets based on GPS, cell-tower triangulation, or radio beacon technology.
5. Manage damage disputes and reveal overuse or mishandling
If damage disputes occur due to machine breakdowns or due to equipment not working properly, analyze usage data to reveal if assets have been overused or mishandled.
Data on use, such as running hours, also enables you to perform predictive maintenance or set up automatic service intervals for your customers.
6. Control unauthorized usage and react quickly.
Make sure your machines or equipment are not used outside the specified rental period or on other projects than what has been agreed in the contract.
With position and data on use, you can quickly see where and when assets are used.
7. Identify idle assets and equipment
Quickly identify whether your assets are all out and in use. Or identify whether certain machines are more in use than others and if some equipment is always just lying about?
The result might surprise you.
8. Cost saving / Short Return on Investment (ROI)
Prices for an IoT solution are relatively low. The accompanying software subscriptions are not going to exceed any budgets either.
However, to keep expenses low, or if you want more out of individual devices, it is possible to detach and attach units from assets with simple tools, even when they are attached with powerful magnets.
In this way, you can get more use out of every single piece of hardware.
9. Get overall visibility of your entire fleet – including non-powered equipment
While you or the manufacturer might have tracking devices installed on your electrical machines already, you are still in the blind about non-powered or hydraulic equipment such as hammers, shovels, or trailers.
With battery-powered IoT tracking devices, you can finally have visibility to your entire fleet with just one product.
10. Integrate data into existing third-party ERP and management systems
If you already have an ERP or a management system in place that works for you, IoT tracking devices can easily be integrated into 3rd party systems using API.
In this way, you can mix in the benefits of the robust, battery-powered IoT devices with your wired tracking devices or other data loggers.
You can also integrate your IoT data into other systems to have your entire business on one platform.
Get started by being informed
If you are new to IoT data loggers, start your journey into the benefits of this technology with our guide: “Digitalize your construction business”.
Even if you are already familiar with IoT, there will be a lot to learn and become inspired about in the guide.
Learn how IoT data loggers enable smart solutions such as running hours, predictive maintenance, theft protection, and a data-based approach in construction and manufacturing.
For more info and a free download below.
We offer ten quick, yet compelling reasons to why IoT data tracking is a highly relevant tool in modern rental management.
Many of the reasons are relevant for regular craftsmen or construction businesses as well.
The list highlights how you can combine the benefits so one tracking solution will solve many different problems at once.