Fleet management solutions are a network of processes that allow managers to keep track of fleets and assets at every stage. The market for IoT fleet management solutions and telematics is experiencing a boom; this growth and expansion is likely to continue well into the new decade.
The Internet of Things has permeated nearly every industry, and fleet management hasn’t been left untouched. IoT solutions for fleet management connect fleets wirelessly, to extract insights that allow better performance, organizations, and operations. Fleet telematics solutions aid the creation of applications with the power to identify and resolve vehicular issues to offset costly repairs.
Benefits of Fleet Management IoT Solutions
The number of fleet management systems that will actively be used is all set to grow at a compound annual growth rate of 15.5%.
1) Improves asset utilization
Using a fleet management IoT solution allows fleet managers to make their assets work for them in their full capacity. Fleet managers need to know where their vehicles are, what their cargo is, where they are headed, and what other assets aren’t currently mobilized. All of this information is made easily accessible through a properly implemented fleet tracking solution.
2) Real-time information
Using an IoT fleet tracking system gives fleet managers accurate and up-to-date information on fleets both stationary and in transit anywhere in the world. With the help of this fleet tracking system, managers will be able to hone in on key performance indicators such as active trips, speed violations, fleet conditions, and more.
3) Increases productivity
Fleet track telematics solutions often automate manual and repetitive processes, leaving managers to orchestrate higher-level operations. Additionally, the ability to deploy all necessary assets ensures that productivity is high and procedures are efficient.
4) Optimizes running costs
Running costs can be optimized through a well-implemented fleet management telematics solution. These costs include fuel, repair, maintenance, insurance, road taxes, and other regulatory fees. Insights derived from fleet data can be used to reduce costs otherwise spent on oversubscribed services or untimely breakdowns and repairs.
5) Improves driver behaviour
IoT fleet management software can be leveraged to influence and benchmark safe driver behaviour, by keeping records or rash driving, speeding, and general mismanagement of vehicles. Tracking vehicle health and allowing for pre-meditated servicing also protects driver lives in the long run.
Contus’ IoT-enabled Smart Fleet Management Solutions
Contus is a leading Digital Transformation Company and the firm has extensive expertise in developing outstanding Android and iOS enterprise fleet management solutions for several world-renowned brands at the client stage.
Here is a glimpse of all that is achievable after you implement one of the fleet track telematic solutions that Contus’ IoT app development team makes possible:
1) Telematics & GPS tracking
For a fleet to be fully operational and optimized, managers need to know exactly where each vehicle is and what its final destination is. The GPS tracking facility helps keep the entire fleet on a map. This is invaluable in ensuring the safe and timely delivery of goods and evaluating routes and travel times. Telematics solutions identify vehicular issues even while the fleet is on the road; this allows for quicker solutions and repairs.
2) Route optimization and planning
Fleet managers can use fleet tracking telematics solutions to identify where vehicles tend to idle the most. Over time, this data can provide insights on optimized routes to ensure travels are safer and quicker. It also allows fleet managers to plan the diversification of routes in advance, so vehicles are optimally used.
Geofencing is a virtual barrier that is set up through GPS tracking and points. The technology saves fleets thousands of dollars every year; it allows businesses to capitalize on proximity and location. Geofencing also helps prevent vehicle theft, and improve time management.
4) Driver behaviour monitoring
Fleet telematics solution providers can help increase driver accountability and timeliness. They track progress in work schedules and ensure safe driving and good vehicle management. These solutions also keep records of performance to connect to payrolls.
5) Trip management
IoT allows fleet managers to optimize various stages of a vehicle’s trip to ensure it’s used to its maximum potential. This smart fleet management also helps passengers or endpoint users keep track of the vehicle to their personal end.
6) Operational efficiency
Fleet management solutions make operations more efficient but ensuring all vehicles are being used to their maximum capacity. It helps send out the right vehicles based on terrain, routes, and purposes.
7) Robust engine data reporting
Managers can use fleet management software to track key performance indicators and vehicular health data. These could include RPM, odometer status, engine running hours, idling, and carbon emissions.
8) Analytical reports
Collecting data from fleet management systems allows the collection of insights. These, in turn, contribute to timely analytical reports that inform higher business decisions.
9) Fuel management
Fleet managers can monitor fuel expenses and reduce mileage through enterprise fleet management solutions. They can also manage spending limits and prevent unauthorized purchases or fuel siphoning.
Many businesses rely on individual systems to take care of core processes; however, this could lead to a mismatch in data and insights, which affect business processes. Contus’ fleet management solutions are the complete package. They offer detailed overviews of all operations within a single dashboard and have the power to turn your fleet management into a profitable company.