As we step further and further into the digital age, both the competition and the rising costs have made it harder for small businesses to keep the operations moving at a steady pace.
However, by leveraging technology, valuable insights can be gained to make a positive impact on the business growth and optimise processes efficiently with a minimalistic margin for error.
Among the many technological innovations, one such technology that makes the much-needed impact is asset tracking that helps small business owners keep track of equipment, including other valuable assets including the day-to-day fleet management operations.
When it comes to small business owners, the main challenge that all of them primarily have in common is a deficiency in the capital at some point in time. Apart from it, factors like customer outreach and time management also add to a list of woes that small business owners get bottled down with while hunting for growth and business expansion.
With asset tracking, the most primeval factor, that is the deficiency in raising or having the needed capital can be reduced and in turn, the business can do so much more and concentrate on other factors that can help with growing the business.
Shedding some light on a few of the obstacles that can be overcome with asset tracking..
1. Fewer fleet vehicles
Lesser number of vehicles amount to a lesser number of assets to manage. That being said, if the vehicle goes missing, or has to undergo maintenance, or is involved in a circumstance that leaves it non-operational, amounts to downtime for the business. Hence, asset tracking helps a small business keep track of all these changes or events that help notify about the status of the business owned vehicles. With asset tracking, you can get to know where your assets are, when they are due for maintenance and how long downtime is projected before they are operational in the fleet again. All these things can easily be managed through an asset management software in real-time.
2. A small workforce
Most of the small businesses have workforces no larger than a 10 member team. Also, if it’s a fleet business, it may mainly comprise of a fleet manager, a few administrators and a couple of office executives. That being said, it means a lot of responsibilities are being shared and or taken over by almost everyone in the team.
When this scenario arises, keeping track of assets manually can be daunting and lapses are bound to happen. Investing in asset tracking can help automate such processes and let the employees concentrate on tasks they are meant to do.
Asset trackers are mostly plug and play, which implies they are easy to install, can be set up in a matter of minutes and can be tracked online using an asset tracking software when in use.
“This solution helps a small business know where the assets are, how they are being used, how the activity of usage on them looks like and if they are being used in a correct manner.”
3. Shoestring budgets
A small business is at times short on budget and when it encounters a scenario, wherein the asset goes missing or is subject to theft, it can have a negative impact on the cash flow. Asset tracking helps reverse that quickly by tracking the exact location of the missing asset in real-time. Also, if the asset is stolen, it can be recovered and restored to its previous state with ease. Also, it helps in obtaining faster claims from the insurance provider and also assists with having to pay lower premiums in the long term.
Benefits that asset tracking offers
- Staying on top of your assets in real-time with minimal effort
- Boosting asset safety and ensured tamperproof functioning
- Improvised workforce collaborations through unified asset information
- More savings through spend reductions on asset repairs, replacements and upkeeps
Choosing the right solution for your small business
If your small business has to make the most of asset tracking solutions, there are a number of features that need to click for it.
Some of these features include:
- Technical support to address all end-user queries
- Accurate live tracking capabilities
- Superior data connectivity
- Simpler integration
- Dynamic and easy to use software interface
- Better data security
- Versatile solutions with cross-platform adaptability
- Monitoring extensions to enforce correct and mandated use
A fleet business should always implore the possibilities of investing in newer solutions, expand reach beyond the generic norms, explore opportunities beyond the current portfolio and always be versatile to revamp. adapt and reinvent itself based on the current market and technological trends.
With Linxio, maintaining your fleet vehicles is easier through our future-ready telematics solutions that offer real-time vehicle tracking, geofencing alerts and notifications, digitised logbooks and better driver communication.