{"id":1315,"date":"2020-08-22T13:40:42","date_gmt":"2020-08-22T08:10:42","guid":{"rendered":"https:\/\/www.trendstechblog.com\/?p=1315"},"modified":"2021-06-17T10:04:44","modified_gmt":"2021-06-17T04:34:44","slug":"track-your-vehicle-assets-using-eld-asset-management-systems","status":"publish","type":"post","link":"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/","title":{"rendered":"How To Track Your Vehicle And Assets Using ELD And Asset Management Systems"},"content":{"rendered":"<p>If the terms &#8216;Big Data,&#8217; &#8216;Telematics,&#8217; &#8216;<a href=\"https:\/\/www.trendstechblog.com\/internet-of-thingsiot-will-working-at-underwater\/\"><span style=\"color: #0000ff;\"><strong>Internet of Things<\/strong><\/span><\/a>,&#8217; and &#8216;GPS&#8217; ring a bell in your mind, then you are destined to make a mark in the fleet management industry.<br \/>\nFleet management is expected to be a $34 billion industry by 2025, and the fleet telematics industry is already a $3.9bn industry, steadily growing at the rate of 2.9 percent every year.<br \/>\nIf the above figures sound too astounding, then we have another set of data to spoil the mood a bit.<br \/>\nIn 2018, there were about 592 instances, or roughly 50 every month, of truck theft in the US. What is even more alarming is that the average value of loss from each incident is calculated to be a whopping $142,342.<br \/>\nIf the numbers stated above makes you jittery, then worry no more, as we show you the best ways in which you can keep a tab on your vehicle and assets.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-655dd36ce8003\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-655dd36ce8003\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#What_Is_ELD\" title=\"What Is ELD?\">What Is ELD?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#How_Does_ELD_Help_In_Tracking_Your_Vehicle\" title=\"How Does ELD Help In Tracking Your Vehicle?\">How Does ELD Help In Tracking Your Vehicle?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#1_Trackability\" title=\"1. Trackability\">1. Trackability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#2_Driver_Management\" title=\"2. Driver Management\">2. Driver Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#3_Record_Keeping\" title=\"3. Record Keeping\">3. Record Keeping<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#4_Safety\" title=\"4. Safety\">4. Safety<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#5_Accountability\" title=\"5. Accountability\">5. Accountability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#6_Fuel_Use\" title=\"6. Fuel Use\">6. Fuel Use<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#7_IFTA\" title=\"7. IFTA\">7. IFTA<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#What_Is_An_Asset_Management_System\" title=\"What Is An Asset Management System?\">What Is An Asset Management System?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#How_Does_An_Asset_Management_System_Help_In_Tracking_Your_Assets\" title=\"How Does An Asset Management System Help In Tracking Your Assets?\">How Does An Asset Management System Help In Tracking Your Assets?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#1_Asset_Tracking\" title=\"1. Asset Tracking\">1. Asset Tracking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#2_Paperwork\" title=\"2. Paperwork\">2. Paperwork<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#3_Geofencing\" title=\"3. Geofencing\">3. Geofencing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#4_Dormancy\" title=\"4. Dormancy\">4. Dormancy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#5_Dashboard\" title=\"5. Dashboard\">5. Dashboard<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_ELD\"><\/span>What Is ELD?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ELD, or Electronic Logging Device, is a specialized device that, when connected to a vehicle&#8217;s engine, records drivers&#8217; Record of Duty Status (RoDS) and Hours of Service (HoS).<br \/>\nELD has been made compulsory for all commercial vehicles in the US starting December 2017, as per the guidelines of the United States Federal Motor Carrier Safety Administration.<br \/>\nThe ELD captures two types of information &#8211; vehicle-related and driver-related.<br \/>\nRegarding vehicle, the ELD captures information like the vehicle ID, date, time, location, vehicle miles, speed, engine turn-on and turn-off time, intervals of motion, and engine status, including fault codes.<br \/>\nRegarding driver, the ELD captures information such as driver identification, log-on and log-off time, hours of service, duty status (on duty, off duty, or driving), and the Driver Vehicle Inspection Report.<br \/>\nELD has largely replaced the manual logbook where drivers and fleet managers had to enter all details manually.<br \/>\nFleet management solution providers, like Samsara, provide a driver app that allows drivers to log in their hours of service, which, when combined with the engine data, helps the fleet company to get a clear picture and comply with the ELD-mandate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Does_ELD_Help_In_Tracking_Your_Vehicle\"><\/span>How Does ELD Help In Tracking Your Vehicle?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There is no doubt that ELD has made compliance super easy for fleet managers. But, there are additional advantages that make ELD a preferred choice for fleet management.<br \/>\nThe following are the major benefits that ELD offers:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Trackability\"><\/span>1. Trackability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The ELD connects to the Engine Control Unit (ECU) of the vehicle and provides real-time data about driver and engine status to the fleet manager. The fleet manager can then use the data to take necessary steps for fleet optimization.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Driver_Management\"><\/span>2. Driver Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Earlier, managing drivers was a mind-boggling task for any manager. On the one hand, they had to manually track drivers&#8217; duty hours, while on the other, they had to allocate duty to the drivers. With ELD&#8217;s automated driver tracking, allocating drivers would never be a worry anymore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Record_Keeping\"><\/span>3. Record Keeping<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The ELD generates all reports digitally, thereby eliminating the need to keep paper records.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Safety\"><\/span>4. Safety<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The ELD helps clear <a href=\"https:\/\/www.trendstechblog.com\/category\/security\/\"><span style=\"color: #0000ff;\"><strong>security<\/strong><\/span><\/a> checks instantly. As all records are stored digitally, the authorities may access it anytime they wish to. It also helps to avoid mishaps, such as <span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/theinsurancenerd.com\/how-to-prevent-truck-theft\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">truck theft<\/a><\/strong><\/span> and break-ins.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Accountability\"><\/span>5. Accountability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As paper logs can easily be manipulated, they are less credible. With ELD, credibility is always on top.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Fuel_Use\"><\/span>6. Fuel Use<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With ELD, getting access to real-time fuel data is fairly easy. Hence, fleet managers can use the GPS feed to find out issues related to idling, over speeding, and harsh braking. This can help them to save fuel costs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_IFTA\"><\/span>7. IFTA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One of the biggest benefits of ELD that it automates the tax calculation process. Automated IFTA reports save money by reducing administrative expenses and audit costs.<\/p>\n<p>Other than the benefits mentioned above, ELD can also help solve problems of storage, save time, enable access to data instantly, and is convenient.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_An_Asset_Management_System\"><\/span>What Is An Asset Management System?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The asset management system refers to an automated tracking system, which tracks a company&#8217;s unpowered and powered assets.<br \/>\nAn asset tracker uses the advanced GPS technology to identify a vehicle&#8217;s location in real-time and sends live data, via the cloud, to the fleet manager, 24&#215;7.<br \/>\nAsset trackers can be powered or unpowered.<br \/>\nThe powered asset tracker can track idle or moving assets, engine status, miles driven, and mileage. It can also send geofence alerts, which helps the fleet manager to identify vehicles that deviate from the intended track. Moreover, it sends maintenance alerts and makes inventory reporting easier.<br \/>\nThe unpowered asset tracker can track idle assets and can send geofence alerts. As it can camouflage easily on any surface, you may fix it on almost any machine or equipment that is important for your <a href=\"https:\/\/www.trendstechblog.com\/category\/business\/\"><span style=\"color: #0000ff;\"><strong>business<\/strong><\/span><\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Does_An_Asset_Management_System_Help_In_Tracking_Your_Assets\"><\/span>How Does An Asset Management System Help In Tracking Your Assets?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>An asset management system is designed to secure assets that drive revenue for the company. An asset management system can offer you several benefits. The following are a few:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Asset_Tracking\"><\/span>1. Asset Tracking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Industry data shows that US businesses lose nearly $30 billion every year due to cargo theft. An asset tracker&#8217;s small size makes it possible to fit on any equipment and send real-time data to the fleet manager. This can help secure an asset even when the asset is placed at a remote location. Some <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.digitalmatter.com\/applications\/battery-powered-gps-trackers\/\"><strong>GPS fleet tracking devices<\/strong><\/a><\/span> include anti-theft remote immobilization feature, enabling fleet managers to quickly recover assets in the event of theft.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Paperwork\"><\/span>2. Paperwork<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Earlier, fleet staff had to visit various locations, carry out manual inspection of assets, and prepare paper-based reports. With an asset tracker, this time-consuming process has become automated. You can not only track your vehicles anytime you wish to but also generate inventory reports at one click of your mouse.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Geofencing\"><\/span>3. Geofencing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An asset tracker creates a geofence around your critical assets. This can help you to locate your asset when it moves to a different location than the intended one. The biggest benefit of geofencing is that your asset can be identified even when the thief changes everything, like number plate, VIN, manufacturing decals, and the likes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Dormancy\"><\/span>4. Dormancy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An asset tracker can automatically generate a Dormancy Report that can help you to utilize your assets effectively. By looking at the report, you can identify which of your assets are used less or not used at all. Based on the report, you may consider selling or renting your assets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Dashboard\"><\/span>5. Dashboard<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Gone are the days when you had to browse through several windows and software to get the data you needed. Now, a dashboard allows you to integrate all of your asset data into one easily customizable platform, from where you manage all your assets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Modern <a href=\"https:\/\/www.trendstechblog.com\/category\/technology\/\"><span style=\"color: #0000ff;\"><strong>technology<\/strong><\/span><\/a> has made asset and vehicle tracking a lot easier than before. Certain features such as <span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/www.samsara.com\/guides\/what-is-edge-computing\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">edge computing<\/a><\/strong><\/span> have also made assessing the available data much more efficient. Modern businesses are harnessing the power of telematics to scale their <a href=\"https:\/\/www.trendstechblog.com\/write-for-us\/\"><span style=\"color: #0000ff;\"><strong>business<\/strong><\/span><\/a> operations, which is great news for the trucking industry as well as the overall economy.<\/p>\n<p><span style=\"color: #0000ff;\"><strong>Also Read: <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.trendstechblog.com\/how-can-you-make-the-new-business-trend-safe\/\">How Can You Make The New Business Trend Safe<\/a><\/span><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If the terms &#8216;Big Data,&#8217; &#8216;Telematics,&#8217; &#8216;Internet of Things,&#8217; and &#8216;GPS&#8217; ring a bell in your mind, then you are&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[264],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Track Your Vehicle Assets Using ELD And Asset Management Systems<\/title>\n<meta name=\"description\" content=\"If the terms &#039;Big Data,&#039; &#039;Telematics,&#039; &#039;Internet of Things,&#039; and &#039;GPS&#039; ring a bell in your mind, then you are destined to make a mark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trendstechblog.com\/track-your-vehicle-assets-using-eld-asset-management-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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