The Internet of Things, or IoT, is changing the way many industries operate. Cloud-based, sensor technologies are providing businesses with real-time visibility and data insights that help to improve efficiency, visibility, and productivity, amongst other things.
While the construction industry has typically been slower to adopt new technologies than other sectors, it is becoming more critical for construction companies to embrace asset tracking solutions in order to remain competitive and be profitable.
Have you considered the ways your job site would be more productive if your team always knew where important equipment and tools were located? What if you could reduce asset loss by quickly identifying unauthorized use or movement?
The Internet of Things is about more than just convenience. It is about staying ahead in a fast-paced and rapidly changing world.
When construction assets are misplaced or stolen, they are often not discovered to be missing until it’s too late to try and recover them. This can lead to costly project delays and replacements. Using highly accurate GPS location technology, asset tracking solutions enable companies to monitor the location of all construction assets on one screen in a cloud-based portal. With the ability to customize real-time data alerts, companies can act quickly when unauthorized movement has been detected, or easily track down equipment when it has been left in another area of the job site.
Knowing where assets are located at all times also helps ensure they are being fully utilized. Where it’s a portable generator or heavy equipment, an asset tracking solution with IoT sensors technology makes it easy to monitor everything from location, idle times and engine on duration to battery voltage and precise mileage. This enables companies to better understand usage patterns and redeploy underused assets to other projects.
Many companies in the construction industry still rely on systems that require inputting information manually. Not only is this time consuming, but it can also be inaccurate and at risk of human error.
With an asset tracking solution, businesses can customize reports and automatically receive valuable insights into patterns, trends, and gaps in operating efficiencies on the construction site. This helps businesses make better decisions about equipment usage, deployment, and scheduling.
Likewise, billing for assets on a job site can be challenging when the usage is left to guesswork. With an asset tracking solution, companies can set geofencing parameters for a particular asset and easily track its time on a site. This makes billing simple and accurate and helps to minimize customer objections.
There are broader implications of the impacts of IoT technology on the construction site than some might realize. It not just about saving a few bucks here or there, but instead, shifting the construction site’s priorities to ensure maximum efficiency of assets, workers, and business processes. Embracing an asset tracking solution with IoT sensor technology enables companies to have more robust security measures, more visibility into asset use, and more efficient processes for completing each project. IoT just makes sense for the construction industry.