Rise in Asset Thefts

Ryken, (formerly Revo Asset Management)

Rise in Asset Thefts Requires Vigilance, Smart Technology

Sadly, the U.S. has seen a dramatic increase in crime in recent years, specifically thefts of expensive, hard-to-replace items that are prime targets for today’s ambitious criminals.

While auto thefts and carjackings get lots of media attention, losses to the construction and agricultural industries account for billions of dollars annually. According to a report published by National Equipment Register (NER), construction sites alone bear annual losses of up to $1 billion due to equipment theft.

Agricultural thieves look for small mechanical devices such as air compressors, generators, or welders that they can snag and sell quickly. Earlier this year, just one string of farming equipment thefts in Hidalgo County, Texas, resulted in four ranchers losing more than $200,000 in heavy-duty farming equipment to thieves.

ATVs are sought-after objects for thieves because they have a high value and are easily moved into the back of a van or hoisted onto a trailer.

Thieves look for the path of least resistance regarding their criminal pursuits. Protecting assets requires common sense, diligence, and investment in security equipment and, if possible, personnel.

Protection tips include:

  • Keep equipment stored in sheds, barns, and trailers. (Out of sight is out of mind.)
  • Use fencing, strategic lighting, and locks.
  • Maintain accurate equipment inventories and do regular checks.
  • Employ security guards and guard dogs where possible.
  • Do background checks on employees
  • Use technology to your advantage such as asset trackers

Asset tracking is our forte, and of all the solutions above, it may be the easiest and least costly. Revo Asset Management gives construction managers, ranchers, and ATV retailers the real-time visibility they need to have peace of mind.

Our mobile app, gives you, your asset managers, or anyone you would like instant access to equipment location and movement. Geofences can be set up so if equipment leaves or enters a specific pre-set area, immediate notifications are sent for instant decision-making.

What to look for in an asset management solution:

  • Smart battery-powered devices to keep you connected to your unpowered assets
  • Reliable wired asset trackers to keep an eye on your powered assets
  • Real-time location information and notifications
  • Recovery intelligence
  • Proven technology that you can rely on
  • Ruggedized hardware able to withstand moisture, dust, heat and cold
  • Mobile accessibility from anywhereNO monthly or recurring fees

Revo Asset Management gives asset owners the critical information they must have — equipment location, movement tracking, and tampering notifications. This information is also vital for law enforcement in the event of a theft.

In addition, critical business intelligence such as asset duration at specific location is available instantly via the mobile app. This streamlines inventory management and is especially helpful when overseeing multiple job sites.

For more information contact me:

David Hogan - Revo Asset Management

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