Understanding the Impact of COVID-19 on the Supply Chain
Transformative digital strategies and technologies have emerged as critical tools to help companies weather the next ...
Read moreSince the global COVID-19 pandemic emerged, fleet-based businesses have faced a number of logistical, operational and monetary challenges. Focusing on preventing the spread of the virus and keeping employees safe while at the same time trying to stay profitable, or even just afloat, is a real challenge for fleets.
Fleets have been impacted in varied degrees. If your business is presently slow, that won’t always be the case. Before things get busy again, owners and managers may want to consider making the most of this downtime to help build a strong foundation for the times to come. Now is the ideal time for fleet owners to constructively take stock of existing processes and establish new procedures to help strengthen the business to emerge stronger in the post-COVID-19 world.
According to Kevin Aries, Leader, Product Success, Verizon Connect, “Now's a great time to do an audit of your tools and technology. Especially for companies that are existing Verizon Connect customers, but aren't as close to the product as they want to be or want more training to create different reports.”
Here are some ways you can transform today’s current downtime into your future uptime.
Budgets are tight right now, and cost control is more critical now than ever. Taking the time to put fleet management expenses under a microscope can go a long way in streamlining and maintaining efficiency. Aries says, “There's definitely an ROI associated with Verizon Connect products and solutions that can help companies worried about their bottom line and cashflow during these times.”
Telematics technology helps keep tabs on both obvious and hidden costs, highlighting both where capital “leakages” are occurring and where the business is under budget. Utilizing the right fleet tracking and management tools, businesses can thoroughly review these cost categories for improvement opportunities:
Telematics technology lets you analyze your fleet’s performance over time, allowing you to showcase important trends by team, department or across the entire fleet. Customizable dashboards make this possible. Dashboards can be set up to facilitate easy review of progress towards KPIs or budgets, with near real-time fleet analytics.
To make the most out of this capability, it’s important to run the right reports and have the right dashboards programmed for your organization’s specific needs. While you have the time, take the chance to review your telematics tools and your analytics reporting capabilities. This could include:
Many fleets, especially smaller or field service-oriented fleets, depend on customer satisfaction for repeat business and referrals. Telematics technology makes it possible for customers to leave a review, whether requested post-job or initiated by customers. Using these reviews, you can get a sense of how the company is performing overall, and view a custom ratings dashboard to track performance over time.
If your company has ever received a less-than-shining review, you may not have had the time to address the issue at the moment. Before business starts to ramp up again, it might be a good time to reach out to any unhappy customers to see how to remedy the situation. Something as small as that can help boost future business and bolster a cache of long-term customers.
Find the latest COVID-19 industry updates here.
Tags: COVID-19
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