Geotab launches Geotab GO Anywhere™ Asset Tracker for improved cost and operational efficiency

Geotab GO Anywhere enables easy management and monitoring of critical assets

TORONTO, Feb. 15, 2024 /PRNewswire/ - Geotab Inc. ("Geotab^®"), a global leader in connected transportation solutions, today announced the launch of the Geotab GO Anywhere asset tracker. This hardware solution is designed to improve how companies manage and monitor their assets across a range of industries, such as transportation, shipping & supply chain, mining, construction, and government.

Efficient asset management has the potential to significantly minimize the financial impact of underutilization and lost equipment, which is a pressing concern across many industries:

• The estimated losses to construction companies are between $300 million and $1 billion annually. Less than 25% of stolen construction materials and equipment are recovered.
• In the third quarter of 2023, CargoNet recorded 692 instances of cargo theft, primarily through shipment misdirection attacks, resulting in over $31.1 million in stolen shipments across the U.S. and Canada.
• The average cost of downtime for all industries ranges between $2,300 to $9,000 per minute.
• Up to 30 percent of organizations do not have an appropriate structure to identify the assets they own and thus have no ability to track what they have or where they have it.

GO Anywhere™ is designed to help businesses avoid these costs. Fully integrated with MyGeotab^®, GO Anywhere enables viewing of all assets and vehicles in a single platform. Its rugged design, extended battery life and ease of installation equip the GO Anywhere to handle a variety of industry use cases, making it a reliable solution for tracking and managing valuable assets. It is now possible to easily keep track of where and when assets are being used and to recover them when lost to help manage costs and boost utilization.

"Increasing economic pressures have magnified focus on cost-control, and businesses across all industries are seeking opportunities to improve bottom line health for both powered and non-powered assets," said Sabina Martin, VP of Product Management at Geotab. "Addressing the significant financial impact associated with lost or underutilized assets presents itself as a cost saving opportunity. The Geotab GO Anywhere improves asset monitoring, supports strategic deployment and effective utilization, transforming potential losses into substantial savings and productivity gains."

For more detailed information about the Geotab GO Anywhere asset tracker, please visit: www.geotab.com/fleet-management-solutions/asset-tracking/.

Geotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 50,000 customers in 160 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organizations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, we help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab's open platform and Marketplace, offers hundreds of third-party solution options. Backed by a team of industry leading data scientists and AI experts, Geotab is unlocking the power of data to understand real-time and predictive analytics — solving for today's challenges and tomorrow's world. To learn more, visit www.geotab.com, follow @GEOTAB on Twitter and LinkedIn or visit the Geotab Blog.

©2024 Geotab Inc. All rights reserved. All trademarks property of their respective owners in Canada and other countries. Geotab, the Geotab logo, Geotab GO Anywhere and MyGeotab are trademarks and/or registered trademarks of Geotab Inc. and/or its affiliates. All other trademarks are the property of their respective owners.

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SOURCE Geotab Inc.