Linking People Places Things

How IoT Assists in Mitigating Theft of Assets

As more devices, assets and ‘things’ become connected, businesses are exploring the opportunity to harness the Internet of Things (IoT) to protect and track their assets. IoT-driven sensor technology placed on assets has substantially improved asset tracking, providing real-time data that allows companies to continually monitor their assets to cut down on theft and product damage. IoT-enablement not only mitigates and minimise tangible losses such as theft and vandalism but can also help address the intangible losses companies experience when assets are not fully or properly utilised. This makes IoT a very compelling value proposition for a wide variety of applications.

For critical or high-value assets, a properly designed IoT solution, such as Hellothing can provide a deterrent to theft, offer critical information about the actual event for investigative purposes, and offer options for recovery.

Having asset data readily available at your fingertips will ultimately enable companies to compile risk profiles for different types of assets in different scenarios, allowing them to change the way they operate to minimise their exposure to the risk factors.

By providing real-time information and utilizing geofencing and GPS technology, IoT asset tracking has three significant advantages that will deter theft.

  1. Real-time information
    Having information in real-time that provides up-to-the-minute data on the assets’ locations is a game-changer for companies. All data relating to the asset is reported back to an application that could easily be shared with law enforcement to assist in quickly locating the stolen goods. Real-time information provides the opportunity to react to events as they occur, without delay.
  2. Geofencing
    Geofencing is another vitally important function of preventing theft. Geofencing is the process of creating a virtual fence around a specific set of coordinates on a map. Once an area around a facility has been established, anytime an IoT tracked asset leaves or enters the virtual fence, you will get an instant alert typically via text or email.
  3. GPS Technology
    GPS technology offers the precise location needed for tracking. Global Positioning System (GPS) technology uses satellites orbiting the Earth to obtain exact details about an object’s location. Trackers that utilize GPS technology are preferred for pinpointing location because of their accurate details, further assisting in theft detection.

Conclusion:

Even with the best of efforts, there is still a potential for asset lost but ultimately by implementing smart technology such as Hellothing, will deter theft and quickly recover what is stolen. Hellothing, with its building blocks provide end-to-end solutions, from sensor to platform. Additionally, the Hellothing platform can be used as a standalone solution, but the platform’s flexibility allows for easy, fast customisation to integrate with existing operational systems.


To find out more about Hellothing’s Cloud-Connected Platform and Asset Tracking, schedule a call with us today by emailing us at support@fastcomm.com


Read our White Paper on NB-IoT: The Cornerstone of Effective High-Value Asset Tracking
Linking People Places Things