Telematics technologies have grown in popularity in recent years as businesses seek to enhance the capabilities of asset management and loss prevention. While specific use cases may vary, telematics solutions facilitate productivity gains, optimize operational efficiency, effective maintenance and streamline asset utilization.
Monitoring high-value assets provides significant benefits in terms of visibility, maintenance scheduling, cost control and more. Unfortunately, many traditional telematics require expensive technologies or large devices, often making it counterproductive and cost-prohibitive to track assets that are small or those that have a high service value despite their lower financial value.
As smaller and more affordable tracking devices enter the market, however, the capabilities and benefits generated by telematics have begun to extend to ancillary assets that have not been traditionally monitored using tags, sensors and other telematics devices. Newer technologies have elevated asset-management capabilities for this type of equipment, significantly reducing the cost of replacements for lost items and improving the use of existing assets.