GPS Tracking Devices for Rental Equipment

The Importance of a GPS Tracker for Rental Equipment

GPS tracking devices for rental equipment provide increased visibility of your assets, allowing you to quickly and accurately trace equipment rentals, optimize equipment usage, and reduce theft or loss with swift recovery.

Offering rental equipment as a service means that thousands of dollars' worth of assets can be spread across various work sites, cities, and even regions. The ability to track assets and monitor equipment usage ensures that equipment rental companies remain successful and profitable.

GPS trackers for rental equipment also provide major advantages to the end users of your fleet. They improve asset security, validate who is operating the equipment, and support fast, reliable recovery if a unit goes missing, giving clients greater confidence and accountability throughout the rental period.

How to Keep Track of GPS Rental Equipment

The effective management of rental equipment requires regular coordination and effective inventory auditing.

Successful inventory auditing hinges on:

• Comprehensive tracking that includes the quantity of all rental equipment assets.

• Complete visibility of location, use, and maintenance status.

• Accurate and up-to-date recordings of all changes in inventory and inventory status.

Relying solely on manual methods to track rental equipment introduces unnecessary gaps and human error. By integrating a digital asset tracking system, businesses can harness real-time data to manage and optimize their rental inventory with far greater accuracy.

Location technologies and intelligent device features deliver the insights you need, when you need them, resulting in faster decisions, streamlined operations, and more reliable tracking across your entire fleet.

Location Technologies

Digital Matter GPS tracking devices use three of the most accessible and affordable location-tracking technologies, each with unique applications and capabilities to suit your business needs.

• GNSS: GNSS, such as GPS, GLONASS, Galileo, and more, are best suited for outdoor applications and rely on measuring the distance between the GPS device and at least four satellites for a 3D fix, allowing for global positioning triangulation.

• Wi-Fi Positioning: Wi-Fi positioning is best suited for indoor asset management, as GNSS signals cannot always penetrate buildings. Wi-Fi positioning, when combined with GNSS, supports assets that regularly move between indoor and outdoor applications and provides enhanced visibility for inventory tracking in warehouses and storage facilities for rental equipment.

• Bluetooth: Bluetooth low-energy technology utilizes tags and gateways to provide an approximate location of tagged assets for both indoor and outdoor applications to track and protect stationary and mobile rental equipment. 

GPS Rental Equipment Tracking Device Features

Digital Matter's GPS trackers for rental equipment offer a wide range of power, connectivity, and features to enhance visibility of rental assets in use or in storage.

• OBDII, wired, and battery-powered solutions for managing both powered (heavy equipment and construction equipment) and non-powered (bins, containers, tools) rental equipment.

• Industry-leading extended battery life with ultra-low power consumption to reduce battery changes.

• Theft recovery with one-touch Recovery Mode for real-time tracking alerts at 30-second intervals.

• Advanced geofencing allows for custom and configurable geofences that send alerts when assets move in or out of specific locations.

• Run hour monitoring that captures when and how often rental equipment is used.

• Impact detection monitors rental equipment with user-defined thresholds to detect when g-forces are exceeded.

• Preventative maintenance alerts based on configurable run hours or travel distance.

• Periodic and movement-based tracking that provides regular location updates with smart adaptive tracking.

• Ultra-rugged design with IP67-rated housing protects rental equipment trackers from the most challenging environments, including fine dust, high-pressure spray, submersion, and extreme temperatures.

• Multiple installation options with screws, bolts, rivets, cable ties, and more, allow for covert and discrete installation to reduce tampering.

• Flexible configuration features to fit any tracking application, such as heartbeat rate, movement and accelerometer settings, and more.   

Why Use a GPS Tracker for Rental Equipment?

Rental businesses, firms, fleet managers, and risk managers across the rental industry are constantly combating the rising trend of equipment theft while striving to accurately manage, monitor, and optimise rental equipment fleets and assets, including high-value or sensitive equipment. Leaning into digital transformation and innovative end-to-end tracking systems allows stakeholders to ensure that all rental equipment is fully utilised, properly maintained, and effectively protected.

The following benefits and applications of GPS tracking devices for rental equipment demonstrate how the features listed above can streamline workflows, strengthen security, and optimise operations.

Makes Asset Tracking Easier 

GPS tracking devices for rental equipment provide accurate data and information that can be seamlessly integrated into a comprehensive tracking platform. Receiving and requesting remote data allows rental companies visibility on-demand as well as at regular configurable intervals.

Reliable and ‘deploy once' battery life ensures that the device continues to connect, even in the case of tampering or loss of power. Easy installation as well as plug-and-play GPS tracking devices for rental equipment make implementation at scale simple for both large and small rental equipment.

Configurable geofences offer fleet and rental managers the ability to set predetermined locations where devices will be stored or used. When GPS trackers for rental equipment are installed with custom geofences, equipment managers are notified when the asset enters or leaves predetermined locations. Allowing them to track location-based behaviors and ensure that those leasing rental equipment are utilizing assets in locations determined by their contracts.

Prevents Theft

Digital Matter GPS trackers for rental equipment provide theft prevention capabilities. If rental equipment, such as machines, large heavy-duty equipment, trucks, or cars, is moved or turned on without authorized use, the device will send an alert with the vehicle's details and location. Upon receiving the alert, equipment managers can immediately remotely immobilize the vehicle.

Furthermore, if rental equipment is lost or stolen, Recovery Mode with customizable features allows for fast and efficient retrieval.

Inhibits Unauthorized Usage

The remote immobilization feature protects against theft and ensures added security that rented equipment is being used appropriately (as determined by the leasing contract). Unauthorized use of equipment can lead to costly maintenance or potential damage. It also ensures transparency and contract enforcement, so that full use of the rental equipment is being paid for.

Provides More Accurate Invoicing

If rentable assets are used during billable time, GPS trackers ensure accurate reporting by providing exact runtime data, improving invoicing accuracy. Leveraging runtime data with devices eliminates the need to bill by the day, hour, or odometer and eliminates the process of manual tracking, which may lead to invoicing errors.

Improves Equipment Maintenance

Optimized maintenance scheduling can drastically impact a company's bottom line. Rental asset managers can accurately predict when maintenance is needed by scheduling maintenance based on runtime and movement data. Controlling and reducing downtime of rental equipment improves productivity and the availability of rental assets for customers, and enables seamless management and servicing of rental assets.

Optimizes Business Processes

Utilizing GPS trackers for rental equipment optimizes business processes such as:

• Inventory management: Efficiently collect data on location, use, and stock of rental equipment.

• Equipment utilization: Track hours and ensure all rental equipment is being utilized to its full potential.

• Health and safety compliance: Track operator working hours to ensure that operators are not over-extended and are working safely, and rental equipment is being used properly.

• Streamline availability of assets: Optimizing maintenance schedules and tracking location and use of equipment provides immediate knowledge of inventory stock, allowing rental equipment managers to make fast, accurate, and informed decisions on the availability of stock, or to quickly pivot and address any delays.

• Optimize drive routes and asset placement: Increased visibility through remote monitoring allows rental equipment fleet managers to optimize drive routes and the location and placement of rentable equipment.

Digital Matter’s GPS tracking devices give rental businesses the technology, tools, and support needed to protect assets and scale with confidence. Get in touch with our team today to discuss your equipment tracking needs.