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The saying that everything old is new again has been used by authors and songwriters for decades, and it certainly holds true when it comes to the mobility trend. For example, technology to support mobile workforces has been around for years, yet investment in devices, hardware and software to streamline and improve mobile fleet management is hotter than ever.
In particular, GPS fleet tracking solutions have grown to be an integral mobile tool – and distinct competitive advantage – for managers of fleets of all sizes. According to a 2018 survey by Verizon Connect and Bobit Business Media of 800 fleet managers, members of executive management and other fleet professionals throughout the U.S, to date, 59% of fleet managers are using a telematics solution.1 That means more than half of the fleets, by embracing current innovation, are already prepared for the changes future innovations could bring. It also means that an astounding 41% of fleets are lagging behind in an industry where margins are slim, costs are rising and the slightest advantage can make a big difference.
Fleet telematics technology rises to the challenge
No matter the fleet size, mobile-dependent organizations share common struggles, mainly the need to control costs, remain productive, improve resource allocation and streamline overall business management. The good news is that GPS fleet tracking technology can help address these issues among plenty others.
Investment in the latest telematics solutions can provide a competitive advantage and positively impact a company’s bottom line by helping to identify and give insight into correcting gaps in mobile operations to increase productivity and mitigate labor costs. So it’s no surprise that 97% of organizations using telematics consider it beneficial.1 In fact, 38% even realized a positive ROI in under one year.1
Contributing to fast ROI is the fact that GPS fleet management systems can help decrease overall operating costs by 13%.1 And when it comes to specific costs linked to overall spend, there are beneficial decreases as well: 13% (average decrease in fuel costs), 25% (average decrease in accident costs), 17% (average decrease in labor costs).1
Support a future-forward mobile business
Though productivity and cost management gains do have a significant operational impact, it’s important to point out that GPS fleet management technology affords even more benefits that fleets can take advantage of now and into the future.
After implementation, fleets and fleet managers realized1:
- Improved customer service (up to 52%)
- Improved productivity (up to 49%)
- Improved routing (up to 48%)
- Improved vehicle maintenance (up to 40%)
- ELD/regulatory compliance (up to 38%)
- Decreased fuel consumption (up to 34%)
- Decreased number of accidents (up to 32%)
- Decreased labor costs (up to 12%)
From preparing for future growth to the improved management of teams, jobs and costs, GPS fleet tracking paves the way for bottom-line success. But as evidenced by the stats shared in this post, investing in telematics technology is no longer optional for mobile-centric organizations. Those who lag behind will find themselves at a distinct disadvantage when it comes to sustaining a profitable future business.
Make the right decision for your mobile fleet
For those who haven’t yet invested in GPS fleet tracking, it’s really a matter of “when” not “if.” To remain competitive, modern fleets must embrace the latest technology and a future that’s sure to bring even more innovation that will again set a new standard. For the same reason, those who have implemented GPS tracking may want to consider whether it’s time for a solution upgrade.
When looking into available options, consider this: the top five most important factors1 for fleet managers in selecting a GPS fleet management solution are:
- Ease of use (84%)
- Service coverage (78%)
- Monthly fees (75%)
- Customer service (70%)
- Software features (68%)
To be sure the fleet management technology you adopt ranks high in these categories, and that it’s a fit for your organization, keep these in mind these steps that should help you make the appropriate choice:
- Identify your company’s goals and objectives
- Do the research to find out what systems are available
- Choose a provider that can meet your needs in the most efficient and cost-effective manner
Success snapshots: Two companies benefit from “move” to GPS tracking
Poolsure is a pool water management company that services the entire Gulf Coast. They struggled with knowing how many trucks and people to add when entering new markets. After adopting fleet management technology, they were able to determine correct resource allocation, resulting in top-line revenue growth of 20%–25% and a 50% increase in EBITDA. “We physically added about 9,000 gallons of daily capacity, but increased business by more than 11,000 gallons each day." –Alan Falik, President
Witmer’s Feed and Grain is an Ohio-based feed supplier that delivers feed throughout Ohio, Pennsylvania, New York and West Virginia. They needed a more efficient way to keep feed flowing from storage bins into waiting delivery trucks. After rolling out fleet management technology, they realized significant operational improvements. Staff could track truck locations and their estimated arrival times at the feed mill, and dispatchers could locate the closest truck when a customer requested a backhaul of grain from their farm to the mill. In the end, productivity and customer satisfaction greatly improved.
12018 Verizon Connect Fleet Tracking Trends Report