Building a Vehicle Fleet isn’t easy or inexpensive. Managing that same fleet can prove even more time-consuming, labor-intensive and costly! Fortunately, in the Digital Age, many fleet owners can turn to Telematics, which is a series of technologies that provide information on where vehicles are, how they are performing and more.
Recognize the Cost Benefits of Telematics
While telematics does come with costs, it can slash expenses in other areas. For instance, fuel consumption can be drastically reduced through the proper application of telematics, driver safety can improve, lowering insurance costs, and it is possible to optimize routes, which shortens delivery times or otherwise maximizes trip performance.
Reevaluate Established Business Models
Telematics allows businesses to experiment with previously untested business models. For example, leasing companies can venture into short-term rentals thanks to improved information on vehicle use and customer needs. For entrepreneurs who hope to offer solutions across the mobility spectrum, this flexibility can be clutch.
Share the Costs of Telematics
Telematics isn’t just beneficial for companies; it is also advantageous for customers, drivers and anyone else who comes into contact with the fleet. Thus, businesses should consider sharing the costs of technology with those who utilize the vehicles. Corporations tend to be especially interested in vehicles equipped with telematics, so B2B fleets are wise to offer this service ready-to-use.
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An article by Marc, Editor at IoT Business News.