Fleet management has been one of the most lucrative industries of the century. Its importance in the transport business continues to grow with innovations in telematics technology which makes it more efficient and strategic. Fleet telematics not only helps in the coordination of vehicles and personnel, but it also aims to reduce operational costs, ensure safety on the roads and improve performance.
Data management gets bigger and better
The amount of data that is being collected by telematics devices is vast and is projected to grow exponentially over the next couple of years. More amount of data collection translates to increased efficiency in fleet management. Some telematics applications, such as diagnostics and tracking, are explicitly designed for improving efficiency by monitoring movement, team behavior, location and status.
Growing concern for data protection/security
Most of the time fleet struggles to address the issue of guaranteeing and storing the security of data that is being collected by the telematics devices. There are benefits that are being offered by connectivity in terms of profitability and road safety, but more connectivity could also mean vulnerability to cybercrime.
Need for speed
The rapid development of telematics is hinged on the 5G network roll-out. Real-time data transmission between or across devices can only work best with an upgraded network for reliability and consistency. With the 5G, you can expect to bring about a major boost in autonomous technologies where the reliability, speed, and coverage will witness massive improvements. Thus, there will be uninterrupted inter-vehicle communication.
Accident prevention and preventative maintenance
Safety for the drivers, vehicles, and cargo remains a core principle of fleet management. Where there is telematics in place, emphasis on the development of solutions geared towards both road carnage or accident prevention and predictive maintenance comes naturally.
Saving money will help you to invest your capital more in your business. Thus, you can increase your business and indulge in making more profits. We know how fleet managers plan to reduce fuel costs. And the swinging of the diesel and petrol prices in the market is not surprising for anyone. The telematics devices will help by giving all the necessary information and reports, which will help you in saving fuel expenses. Another option to save is by getting motor insurance. Insurance companies offer special discounts on vehicles with telematics solutions equipped in them. With such fleet telematics, one can’t forget the regular maintenance of the fleet. Because of timely notifications with the help of email or SMS alerts, you can save costs as you will be acutely aware of all the ongoing processes.