Asset theft represents a growing cost and threat to construction companies, but new tracking technologies combined with recovery services are working to reverse the trend.
Every year, the construction industry suffers hundreds of millions of pounds worth of loss due to theft of vehicles, machinery, and tools. This only increased during the coronavirus lockdown, with a reported surge of 50 per cent in construction site crime rates since the beginning of 2020.
Asset trackers are the answer as they have their own power source meaning they can be hidden anywhere in an asset to prevent thieves from removing them, and the best products come with a recovery service that works with law enforcement to achieve near 100 per cent asset recovery.
Earlier in 2021 CanTrack were acquired by Radius Telematics, a global business serving over 425,000 users. Since the acquisition, the teams have joined forces to develop a wider range of wireless GPS asset trackers that are water-resistant and can be hidden in or on any type of asset. They are extremely hard to locate, with their own battery power source guaranteed for 3- or 5-years dependent on which model you choose. They are small and discreet and attach inside any vehicle or stationary asset like tools and machinery. The trackers can send out GPS, radio, and SMS signals for triple protection.
Subscriptions can include a recovery service provided by nationwide teams of ex-policemen who recover 96 per cent of all stolen assets, meaning no insurance claims are necessary. Their service protects valuable assets, reduces risk, and avoids business interruption for construction companies throughout the world.
Managing Director, Peter Thompson is enthusiastic about the latest developments in asset protection and this new chapter in the CanTrack story: “The latest addition to our asset tracking range is the neon device. Powered by a self-contained battery and smaller than a matchbox, it provides simple asset tracking at a low-cost. CanTrack Protect is truly unique on the market in both technology and service, and our reputation for professionalism and recovery is demonstrated by £500million worth of assets under our protection. Combining CanTrack and Radius Telematics we can offer full fleet and asset protection for any business”
Wireless GPS asset trackers
To tackle the 45 per cent growth rate in business vehicle and asset theft over the past five years – and to help companies deal with increasing rates of non-crime related asset loss – the new range of GPS asset trackers from Radius Telematics can locate any device to within a matter of a few feet.
This will be a benefit to companies throughout the UK and Ireland that want to avoid losing track – or suffering theft – of valuable or business-critical assets like machinery, vehicles, plant and equipment which cost them money to replace, time to recover, loss of customer trade or even all three.
The ‘neon’ range of ultra-portable, long life asset tracking products will span a broad range of price points, and aims to help businesses locate and redeploy any type of kit, whether used by their own employees or rented by customers.
The compact and discreet design of all the devices means they will fit on even the smallest asset. The ‘neon’ trackers will work with the same company’s powerful software to show the location of assets.
“We’re proud to be launching the UK’s tiniest tracking product at a tiny price but with a huge battery life,” continues Peter. “It can protect hugely valuable company assets ranging from construction machinery to farm equipment and top of the range sports cars.”
The ‘neon’ range includes completely waterproof trackers, and devices which can resist the elements, including dust, dirt, and damp. The devices offer a choice of 3-year or 5-year battery life so the products can be used with powered and non-powered assets or vehicles such as vans, trailers, equipment, caravans, and plant machinery. The neon range starts from £4.50 a month within an initial £10 set-up fee.