Start-up technology provider The Asset Works
is close to launching a new vehicle tracking system, which will
allow lessors to trace cars without dispatching individuals to
conduct physical audits.
The Horsham-based company has developed a
tamper-proof electronic data tag, which can be attached to each
individual vehicle and which can’t be removed without being
destroyed.
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Lessees are given hand-held readers, which
register the assets’ exact location at the time of scanning. The
reader is used to transmit all the data gathered back to The Asset
Works’ web-based management system, where the information can be
scrutinised by lessors.
Using a technology called ‘geo-fencing’,
unusual or unexpected data results can trigger automatic emails to
be sent to the lessor, for example, if fewer assets than expected
are at a particular location, or if assets are not located where
they should be.
A weekly scanning service for a dealership
averaging 50 cars in stock will cost around €2,750 annually, rising
to around €4,500 per dealership to scan each car every day.
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By GlobalData
