IN today’s digital age, the fleet industry operates on global scale; to conquer the global marketplace, it’s essential for transport and logistics companies to adopt systems that are capable of managing complex business operations.
Fortunately, the tremendous evolution of GPS technology over the years has seen the introduction of vehicle tracking devices that take only seconds to install and start transmitting a plethora of information about our vehicles and drivers behind the wheel.
The emergence of sophisticated IoT and telematics devices further unlocked the potential of tracking systems and accelerated the transition process for many fleet businesses.
By harnessing the power of telematics data, businesses can transform their fleet operations and enter the digital age of management to stay ahead of their competitors. Advanced tracking systems make it easy to manage a vehicle fleet and observe the driving habits of employees.
From only a smartphone app integrated with Google Maps and satellite imagery, fleet managers are able to utilise a wide range of features that can improve every aspect of their fleet operation.
GPS-based fleet management systems simplify the process of locating company vehicles, which helps to optimise resource management.
They can also be a reliable source of information between different branches of a company. Data exchange is a necessary component for fleet businesses to function as a whole, instead of separate departments trying to work together.
By incorporating these fundamental elements into their systems, companies can reap the rewards of being able to predict and prevent operational challenges.
Finance
The principal use of GPS tracking vehicles with a fleet management system is to improve the efficiency of field operations. However, the dynamics of business management change upon the installation of such systems, which helps companies tremendously in the finance department.
Telematics systems boast an array of features that can be used to cut back on expenses and create policies to sustain a profitable business model; companies can expect to see massive savings on fuel and maintenance costs, reduced vehicle downtime, mileage tax deduction with trip logs and more.
Operations
Telematics devices come with cutting-edge software that can provide businesses with up-to-date GPS information and the condition of every vehicle in a fleet. All this information, known as telematics data, is crucial to streamline fleet operations and gain total control over the management process.
It has numerous benefits, from tracing stolen assets and receiving real-time updates about vehicle damage to collecting data on drivers and their driving habits. Managers can tap into a myriad of powerful tools such as route planning, engine diagnostic reports and trip logging, that can be used to increase the efficiency of business practices and lower a company’s expenses by a large margin.
Compliance
One of the biggest challenges for fleet businesses is to ensure compliance with regulatory government agencies. Keeping immaculate records is vital for an effortless audit process. Telematics systems provide tailor-made solutions for sharing data across different departments.
What’s more, they establish the perfect environment for storing the necessary compliance data. Trip logging is an excellent example of this process; HMRC requires a specific set of information from companies that want to benefit from the business mileage tax deduction service.
Telematics devices collect all the necessary information and create detailed mileage logs. Distinguishing business trips from personal ones becomes possible with the click of a button.
A process that only a few years ago would take business managers hours, sifting through a mountain of paperwork, is simplified to something that can be done in minutes; all they need to do is pull up the individual trip records and generate business trip reports. When it comes to compliance, the level of convenience telematics systems provide for companies is truly ground-breaking.
Conclusion
Telematics technology is a revolutionary development for all businesses operating a vehicle fleet, by reshaping the way they manage their resources and handle their assets.
Gaining access to every detail about your vehicles and drivers makes operational decisions child’s play.
From geofence zones to live tracking, there are countless tools to make business operations more efficient and increase productivity throughout the fleet. The latest integrated telematics systems can do so much more for businesses than the rudimentary management systems that fleet businesses had to use for decades.
The key to maximising efficiency and fleet performance is locked in fleet vehicles. Vehicles generate an incredible amount of data; by harnessing this data, businesses can overcome their operational challenges and improve their resource management.
Regardless of the size of a company, telematics systems have become indispensable in providing accurate and actionable data on-demand. By gathering and processing telematics data, companies gain a competitive edge over their rivals in the industry while improving the quality of their services.
