Recon Dynamics entered the Cemex Ventures Construction Start Up Competition early this Summer in order raise the expectations of the entire tool & equipment tracking category.
Right now many tracking companies can answers these basic questions:
Where are my tools?
Where is my equipment?
Where are my vehicles?
A select few companies can even tell how much some of their larger assets are being used.
An even smaller cohort of tracking systems can answer some or all of these questions:
Should I buy more?
Should I rent more?
Do I need more employees?
Are my employees utilized effectively?
What is my shrinkage?
When will my materials arrive?
Are my employees driving safely?
Are my tools being maintained/inspected regularly?
However, we entered this competition because no other company outside of Recon Dynamics can answer all of those questions with fewer battery changes, no scanning, and through closed job boxes on or off the grid.
To be clear, battery life is more than just chemistry, and Recon has optimized this weak link in a way that no one else has. You've seen it before. When batteries need changing, or drain too quickly you run the risk of losing profits to battery-changing man-hours. You lose faith that data capture is uninterrupted. You lose the desire to tag expensive but seldom-used assets that can become a quiet and costly drain on the bottom line when secretly sitting idle. These loses put you on the defensive and make it harder to move a company forward.
We entered this competition to meet the next generation forward-thinking industry leaders. We entered to help elevate partners who refuse to accept the status quo.
This might be a start-up competition, but we have a long history with low-energy wireless solutions including the first patents for tool tracking and believe our 3-fold obsession with efficient and reliable transmission will create an industry tipping point; no battery changes, no extra effort by workers, utilization capture that works around metal equipment. Our competitors are happy with 2 out of 3, but we don’t feel the need to settle.