Financial viability of security suppliers

Enigma Vehicle Systems issue warning to the plant industry to take even greater care when choosing suppliers of anti-theft and tracking systems for their plant fleets.

In the current economic climate, construction equipment is an even more attractive target for thieves and the need for asset protection and anti-theft systems could not be greater.

But Enigma says it is buyer beware and any plant owner should thoroughly check the financial stability of their security systems suppliers particularly in the current climate, to mitigate against loss of theft prevention, loss of investment in the anti-theft systems themselves and possible infringements to insurance cover.

As a major supplier of satellite tracking systems and associated products, Enigma warns that there are several repercussions of dealing with security system suppliers with financial difficulties.

Even for plant owners using immobilisers, they run the risk of loss of any outstanding warranty and on-going support if their supplier goes out of business.

In addition, where suppliers are in trouble financially, customers run the risk that there is a greater likelihood of corners being cut, affecting the quality of the product or installation on their fleet machines and vehicles.

The risks are even greater when purchasing a tracking system.

Most of these devices/systems rely on the supplier maintaining the service after the initial installation.

If a supplier were to become insolvent, it is likely their ISP will cut their data line and their SIM card provider will disconnect and bar the SIM cards in the vehicle or piece of plant.

In addition, there will be no people to run the system, provide support or assist with thefts.

Enigma says that this has happened in the past and it has affected a large number of plant companies who relied on their tracking units as a condition of their insurance.

Chris Lloyd, Chairman of Enigma Vehicle Systems, offers cautionary advice: "At times like these when belts are being tightened some buying decisions may focus purely on price as a way of saving money".

"Keen prices are critical but the lowest price may mean a supplier is in financial difficulties".

"I would recommend a credit check similar to those carried out on customers or simply paying GBP1 to obtain the latest published accounts from Companies House to verify that your suppliers are credit worthy".

"If a supplier is not around in a month or three months time, any savings will be dwarfed by the possible write off of the entire purchase cost and then further costs in buying again from another supplier, together with any insurance consequences".

With 18 years of trading under its belt, Enigma is a well run, financially stable business perfectly positioned to meet the needs of security customers across the Globe.

Enigma has grown gradually with an expanding base of customers, of all sizes, who turned to the company for advice and products to improve their security.

Enigma's expertise, and service, also expanded with a national, mobile engineering team, 24 hour service, ISO 9002 and Vehicle Security Installation Board (VSIB) accreditation.

Enigma has also worked closely with operators, Security Consultants, Police, Insurers and the VSIB and continues to value and develop these relationships today.

In 2003, Enigma made a major advance, when the company commissioned the Skyline advanced vehicle tracking and security system.

The intention was to offer a world class security, tracking and fleet management system with the flexibility to use products appropriate for the application.

Skyline went live in July 2004 and has become one of the market leading systems, especially in the construction, utility and plant rental industries.

In use in over 600 businesses worldwide, in diverse industries from major equipment rental companies including A-Plant in the UK, large transport operators such as P and O Ferries and Kenya Airways and car rental fleet operators such as Dollar and Thrifty, the unique combination of tracking and telematics capability in Skyline has provided astonishing results.

For example, the recovery rate for stolen plant fitted with Skyline at one of the leading rental companies is running in excess of 95%.

In addition to plant security and vehicle management, the Skyline system can be used for driver performance analysis (using RFID tagging), bus passenger manifest and zone violations (via geo-fence and point-of-interest reporting).

With over 20,000 vehicles and fleet machines monitored and around 1,000 customers enjoying the benefits of Skyline, Enigma Vehicle Systems can be regarded as one of the leading businesses in the remote asset management field.

The careful management and growth of Enigma over the last 18 years have underpinned the attractive leasing deals now being offered by the company, which are even more persuasive in these tougher times.

From as little as 48p a day for construction plant and 54p for vehicles, customers can obtain five years of anti-theft protection including products, installation, and 12 months warranty.

Going forward, Enigma is investing heavily in new technologies to provide greater control and information over remote assets.

These technologies include satellite communications, active and passive RFID tagging, personal/portable tracking and improved data analysis modules.

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