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Six Ways Asset Tracking Software Can Save You Money in 2023

February 7, 2023 by Angela Toland

At TrackAbout, we realize every one of our customers is completely unique and has different needs and requirements. But, no matter your size, specialty, or sector, our market-leading software has been developed to help better manage and monitor your returnable assets. TrackAbout makes light work of even the most labor-intensive tasks to improve the efficiency and productivity of your day-to-day operations.  

These are clearly tough market conditions right now and the ongoing supply chain issues and rising prices continue to heap pressure on the industry. So, what better way to start the new year than by highlighting just some of the ways that TrackAbout can help companies like yours save money and cut costs? 


1. Smarter Asset Utilization

Containers and cylinders are pretty hard to source right now and, in some cases, they can be double the price they were just a year ago! 

If the orders are coming in but if you simply don’t have enough containers on hand, then you’re going to lose the business. But with TrackAbout, you can easily keep track of your returnable cylinders and containers and make better use of them – so you don’t need to keep replenishing your stocks and paying those high prices. 

With the typical gas cylinder costing anywhere from $300-2,500 and good quality totes potentially costing as much as $5,000 to replace, it makes sense to better use what you already own. 


2. Stay Compliant

Accountability and traceability are vitally important to our customers, particularly given the ever-growing list of rules and requirements coming from the various regulatory agencies. 

Failure to comply with the myriad regulations – or provide adequate proof that you’re doing so – could lead to hefty fines amounting to hundreds of thousands of dollars. And there are other costs to consider as your reputation may be damaged and you’ll also be losing business while you try to bring everything back up to standard. 

With lot number or batch tracking, TrackAbout ensures you stay on top of each and every part of the order and delivery process. That means you’ll always know where your asset is, what’s in it, who's handled it, where it's been, and where it's going. With asset management software, the minutiae of every order is captured, stored, and instantly accessible to help you stay compliant – again, saving you money in the long run. 


3. Theft Prevention

Unfortunately, assets going astray is an all too common occurrence. We’ve heard instances where warehouse employees have been selling cylinders off the record, drivers have “misplaced” containers, or cylinders have disappeared rather than being returned by customers. And with the current market conditions when money is tight, those risks have perhaps never been greater. 

With TrackAbout, you always know your asset’s last point of possession and who is responsible should it get lost. Being able to rely on software that helps identify when something goes missing and when it happened as it moved along the workflow, minimizes your losses and ensures preventative measures can be taken.  

Our figures show that, based on a fleet of 25,000 cylinders, you could expect to save at least $7,500 each year by reducing theft. 


4. Focus on Safety

Our customers always want to make sure they’re delivering the right product, to the right place, and in the right condition.  

TrackAbout allows you to monitor maintenance programs and view a complete history of the repairs carried out on each of your assets. It’s also possible to quickly flag issues – maybe a container is leaking or it has a faulty valve – so if someone later tries to refill or ship that item, they’ll be warned it’s damaged.  

It pays to ensure you minimize risk and avoid accidents, injury, and any further damage. After all,     you can never put a price on safety. 


5. Avoiding Customer Disputes

What if your customer insists a delivery never arrived or that they’ve returned your asset, but it’s nowhere to be found? Without effective tracking software, these are all-too common situations that can spiral out of control, potentially damaging an important relationship and losing you future business. In some cases, these scenarios could even end in litigation and prove extremely costly. 

But by digitizing the delivery process, it’s possible to avoid these issues or quickly resolve any disputes by proving when a delivery or return was made with the click of a button.  

TrackAbout captures important data for each of your assets, such as the date and time of the shipment, GPS coordinates, its route, final destination, as well as scanned signatures showing who handed the goods to whom. And with TrackAbout’s new Photo Feature, it’s now even possible to take a photo onsite as proof of delivery. 

For those of you in the gas industry that charge rent for your cylinders, we realize it’s essential you know precisely how long they’ve been with the customer so you don’t miss out on revenue. Being able to keep tabs on assets that may otherwise have been overlooked, has seen businesses typically report at least a 15% rise in rental revenues after switching to our software. 


6. Lot Number Tracking

How quickly could you and your company respond to a life threatening batch recall? What if there had been a problem during the fill process and contaminated product leaves your warehouse? 

While a lot of companies track material from A to B, few of them would be able to quickly isolate an individual container if there’s been an issue with an specific batch of product. Instead, they’d have to painstakingly search through piles of paperwork and manually check their records to find its location. In the meantime, there’s always a risk that somebody could be badly hurt or equipment damaged.  

With TrackAbout’s serialized tracking, detailed searches can literally be completed in minutes. It’s therefore possible to drill down and get a deep dive into the contents of a specific container so the asset can be quickly located and retrieved before the worst happens.  


Ready to streamline your company's operations? Request a free TrackAbout demo today



Topics: Returnable Containers, Asset Management

Written by Angela Toland