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Aussie Companies Each Losing $4.3 Billion Assets A Year: Telstra

Telstra has released the results of a study commissioned from market research company Telsyte that, it says, shows Australian businesses with more than 20 employees lose assets worth $4.3 billion annually.

Shipping equipment and mobile storage was the largest category ($930m) followed by high-value IT equipment ($880m) and motor vehicles ($708m).

The research found that the main reason businesses lose assets is because they are misplaced by employees (46 percent) or not properly stocked (36 percent). “Employee theft remains an issue 29 percent of the time, while 27 percent of assets are lost in transit,” Telstra said.

The aim of the research was to promote Telstra’s Track and Monitor service.

Australia’s biggest private rail freight operator, SCT Logistics – which also operates a large road vehicle fleet – is installing Telstra Track and Monitor on 1500 trailers, containers and rail wagons in its fleet. According to Telstra, SCT was losing on average three percent of these assets each year, at a $4 million cost to the business.

Telstra offers three tracking devices: a small Bluetooth tag with one-year battery life costing $29 and $1.50 a month that can be used on small assets, and even on pets; a solar-powered Cat-M1 tracking unit at $499 and $14.50 per month; and a larger tag with a five-year battery life at $49 and $1.50 per month.

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