Geotab Inc. announced the launch of the Geotab GO Anywhere asset tracker at its annual Geotab Connect event. This hardware solution is designed to improve how companies manage and monitor their assets across a range of industries, such as transportation, shipping & supply chain, mining, construction, and government.
Efficient asset management has the potential to significantly minimize the financial impact of underutilization and lost equipment, which is a pressing concern across many industries:
The estimated losses to construction companies are between $300 million and $1 billion annually. Less than 25% of stolen construction materials and equipment are recovered.
In the third quarter of 2023, CargoNet recorded 692 instances of cargo theft, primarily through shipment misdirection attacks, resulting in over $31.1 million in stolen shipments across the U.S. and Canada.
The average cost of downtime for all industries ranges between $2,300 to $9,000 per minute.
Up to 30% of organizations do not have an appropriate structure to identify the assets they own and thus have no ability to track what they have or where they have it.
GO Anywhere is designed to help businesses avoid these costs. Fully integrated with MyGeotab, GO Anywhere enables viewing of all assets and vehicles in a single platform. According to Geotab, the devices rugged design, extended battery life, and ease of installation equip the GO Anywhere to handle a variety of industry use cases, making it a reliable solution for tracking and managing valuable assets.
“Increasing economic pressures have magnified focus on cost-control, and businesses across all industries are seeking opportunities to improve bottom line health for both powered and non-powered assets," said Sabina Martin, VP of Product Management at Geotab. "Addressing the significant financial impact associated with lost or underutilized assets presents itself as a cost saving opportunity. The Geotab GO Anywhere improves asset monitoring, supports strategic deployment and effective utilization, transforming potential losses into substantial savings and productivity gains.”
