Using Telematics to Prevent Construction Theft
Whether you need to protect your construction site from thieves or moonlighting employees, using fleet tracking technology can help you eliminate the worry and minimize risk.
According to the National Insurance Crime Bureau (NICB), as much as $1 billion a year is lost nationwide due to theft of construction equipment and tools–and the recovery rate is less than 20 percent. As a business owner, managing your assets can be challenging without the proper tools. Whether you need to protect your property from thieves or moonlighting employees, using fleet tracking technology can help you eliminate the worry and minimize risk. Having tools that are designed to protect your assets from external theft and internal issues can potentially save you hundreds of thousands of dollars per year. Many managers in the fleet and construction management industry can attest to the problem of theft and employee misuse of equipment. With the proper telematics tools, you can also protect your brands’ assets from any associated liabilities.
Using technology that covers you completely in the event of a threat to security is the best way to protect your fleet. Construction sites especially, are often targets for theft and employee moonlighting. Preventing construction site theft can be simple, and effective. Reducing on-site theft at the construction site means more for your bottom line.
Research reveals that the most commonly stolen items from construction sites are:
- Tools and Supplies – one of the most commonly stolen items from construction sites includes small tools and construction supplies. Using telematics can help safeguard your tools and supplies to protect your bottom line.
- Heavy Equipment – the cost of losing heavy equipment to theft can be exponential for construction managers. Telematics can help you track the location and movement of heavy equipment to potentially save your company tens to hundreds of thousands.
- Metals – copper is the most commonly sought after metal for thieves searching construction sites. Its increase from $0.80/lb. to $4.00/lb. in recent years is what keeps thieves scouring construction sites for scraps. Using telematics can help deter and track thieves searching your construction site for valuable metals.
- Wood – when it comes to moonlighting, this is the most commonly stolen item from construction sites by employees. Construction employees often pilfer lumber pieces from the site and use them to supply side jobs. Pieces of wood can be protected using telematics software that detects when anything leaves your work site.
- Appliances – large and small appliances like refrigerators, microwaves and dishwashers are often stolen from sites that haven’t been secured. It’s important to secure sites to prevent theft of these costly items.
Telematics Tools that Prevent Moonlighting & Construction Site Theft
The NICB reports that construction site theft has several points of attraction for thieves. Your job in managing your assets is to make it difficult for thieves to get away without detection or documentation. Here is a list of reasons that thieves by the NICB on why thieves choose to steal from construction sites:
- The value of heavy equipment.
- Poor equipment and site security.
- Opportunities to sell stolen equipment in the used-equipment market.
- Low risk of detection and arrest.
- Lenient penalties for thieves if prosecuted and convicted.
Keeping track of your assets both during and after business hours can be a little tricky. This is especially true when you’re managing equipment, tools and supplies at multiple sites in different locations. Using telematics technology for asset tracking gives you the ability to use real-time tracking that works in theft prevention and recovery. Without asset tracking, finding stolen equipment is left up to chance. Asset tracking allows you to view your assets on a map, which includes color-coded asset status updates. You can also create custom Geofences and landmarks that help you track your assets within their boundaries. You can use the map via both satellite and street view options and use vehicle grouping to manage large fleets.
Reports & Data
Get the power to protect your fleet on-demand with data-rich, secure reporting software that delivers when you need it most. Telematics solutions enable you to schedule reports automatically or for set dates. Asset Management reports provide information like real-time temperature monitoring, speed and safety reports by driver and even miles driven by state. This comprehensive data reporting system is designed to keep you as informed as possible about all of the moving parts of your business. Your telematics software should include unlimited free data storage, allowing you to collect infinite reports, without fear of losing any information.
Creating Geofences around your worksites is a great way to track equipment within a specific boundary. Geofences allow you to use telematics software to create invisible boundaries around a selected area on the map. You can also set up notifications and alerts to monitor the area within your Geofences 24 hours a day. Geofences can also be deployed at locations on the map you want to set as off-limits to your drivers. The software uses real-time alerts that are received should anyone in your fleet violate these boundaries. Using telematics software allows you to create geofences with custom shapes, assign user permissions and alerts as well as schedule breach reports.
Removing the restlessness that comes with worrying about the status of your assets when you’re away from your job site is priceless. Investing in software that helps you in both prevention and recovery for issues related to theft and moonlighting is the foundation of any great risk management plan. With telematics, you can get instant alerts to help you handle situations involving theft in the moment they happen. When considering the cost of replacement, opportunity costs and the time and effort required in recovering stolen or damaged property, proper protection becomes crucial.
In the event that your property is stolen, telematics software offers a variety of options to aid in recovery. Expedited vehicle repossession, remote starter disable and on-demand vehicle and asset location are just a few features that are available to help in this process. There is also the extensive documentation made available via data reports, should you need to recover your losses by submitting a claim to your insurance company. Whatever the situation may require, telematics technology has the tools needed to keep you proactive and prepared.
Protecting your property from the prospect of theft and moonlighting is a major priority in construction site management. You need solutions that are going to work around the clock whether your goal is prevention, recovery or both. Don’t allow thieves to thrive on your lack of security and technology that keeps your assets intact. Contact one of our expert Fleet Advisors to discuss custom solutions that fit your budget and business size. You can also take our schedule a free Software Demo and take our telematics solutions for a test drive.