ARE UK FLEET OPERATORS MAKING THE MOST OF TELEMATICS DATA?
Stuart Berman, Managing Director at Teletrac Navman, discusses how fleet operators could be reaping even more business rewards from their telematics data
Milton Keynes, January 16, 2018 – At Teletrac Navman, we’ve just carried out research which shows 27% of UK fleet organisations are interacting with their telematics solutions on a regular, daily basis. Whilst this means they will still reap the rewards of traditional telematics ROI, such as fuel savings, they could be enjoying even more business benefits.
The research delivered key insights into how businesses are currently operating their fleets and analysing their telematics data, which they can use to optimise operational efficiencies. It revealed how only half of respondents (50%) are currently evaluating and benchmarking driver performance, and furthermore, less than one-third (31%) are rewarding drivers for better performance. Additionally, only 20% are monitoring vehicle maintenance data, meaning there’s scope for businesses to get even more out of their software.
The value of data access comes through the systematic exploitation of data-driven insights. For example, telematics provides in-depth analysis into driver behaviour, notifying operators of any safety breaches, such as speeding or harsh braking, so it gives fleet operators the chance to offer training to counteract bad habits, improving the overall driving standard of their fleets. It also gives fleet managers the chance to reward good driver behaviour, through competitions, prizes, discounts or other company incentives, encouraging better driver performance. We advise businesses to use driver behavior data to create a culture where excellent driving standards and road safety is championed.
As well as driver data, telematics also unearths vehicle patterns that can be used to improve all-round business performance and keep your vehicles on the roads. Fleets can improve maintenance scheduling and servicing with diagnostic data, to keep your fleet running at optimum levels at all times. Businesses need to stay ahead of maintenance, to ensure they never miss an MOT or service to protect themselves against un-planned business costs, and to flag symptoms before they become a costly problem.
Thanks to telematics, fleets now have more visibility of their business operations than ever before, which can be utilised to maximise productivity and lead to smarter business decisions. Whilst traditional, well-acknowledged benefits of telematics, such as fuel savings and GPS tracking, are important and should be high on the agenda, remember there’s other available data which you can turn into actionable business intelligence.
Last year, we saw a surge in demand for our professional services offering, which delivers project management and training, to offer further support for customers using our telematics systems. This rise in demand shows that operators are really recognising the need to understand analyse their telematics data, so they can do everything in their power to achieve optimum business performance and make continual improvements. If anyone needs and help or guidance, we’re always happy to advise.
For more information www.teletracnavman.co.uk
Notes to editors
*Regularly based on 2 hours’ daily
*The survey represents the findings of 133 UK respondents, conducted 2017
* Teletrac Navman received a 94% customer satisfaction rating in 2017
About Teletrac Navman
Teletrac Navman is a leading software-as-a-service (SaaS) provider leveraging location-based technology and services for managing mobile assets. With specialized solutions that deliver greater visibility into real-time insights and analytics, Teletrac Navman helps companies make better business decisions that enhance productivity and profitability. Its fleet and asset management technology uncovers information that would otherwise go unseen, helping customers reduce risk and confidently move their business forward with certainty. It tracks and manages more than 500,000 vehicles and assets for more than 40,000 companies around the world. The company is headquartered in Glenview, IL, with additional offices in the United States, United Kingdom, Australia, New Zealand and Mexico. For more information, visit teletracnavman.com