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The challenge
Vehicle prices increase year on year and so does the maintenance of these vehicles, this puts Fleet Management Companies under severe pressure to utilize their fleet more efficiently in order to keep maintenance costs low, utilization high and send profits on a similar trajectory.
Fleet Management companies thus require systems that can keep track of each of its vehicles, it’s vital data, where it is,who’s driving it and how it’s being driven. IoT.nxt’s® Fleet Management client had a little bit of all the above, except that one crucial capability that could excel its business into even greater revenues, improved asset lifecycle management and satisfied customers…end-to-end vehicle visibility in real-time.
Primary pain points
VISIBILITY
IoT.nxt® brought visibility to the operators by implementing its industry leading vRaptor™ virtual intelligent edge technology which enables integration and communication from various data sources such as the vehicle OBDII port, CANbus and existing Fleet Management company tracking systems into one end-to-end visualisation. The Commander™ displays the vehicle view, bringing critical vehicle data insights to the operators such as real-time alerts for accidents, theft, unauthorised stops and routes.
This insight was made possible by leveraging vehicle tracking data via geofencing technology where operators can now control the exact routes the fleet vehicles may travel which ensures the safety of the customers renting the vehicles and minimizes theft by avoiding known hotspots. Customised management reports for each vehicle enables historical and future insights into the utilization, trends and cost benefit analysis per vehicle, digitalizing the entire Fleet Management process.
UNDERUTILIZATION
Managing a large fleet of vehicles depends on systems that enables the business to continuously track the vehicle location, monitor telemetry and operating conditions. Without visibility of the entire company fleet, vehicles cannot be managed optimally by operators, revenue-impacting issues such as breakdowns, untimely repairs as a result of abuse and driver negligence cannot be predicted or prevented unless a modern, digitalized approach is adopted to Fleet Management.
MISUSE
By having visibility on the assets, tracking it, viewing its real-time data and history, the client can predict failures, act on bad driver behaviour, view unauthorised routes and act fast on potential vehicle theft which all leads to increased revenue share and more satisfied customers.
