Tag: Fleet Management Solutions

IR21

4 Key Benefits of Fleet Management Solutions That Every Procurement Company Must Know

For any organization, it is important to have all the available fleet information up-to-date and properly vetted in order to enable quality strategic decisions and to provide clear visibility of the fleet. Poorly managed data, on the other hand, can lead to numerous issues such as budget overruns and phantom fleets. Here comes the role of fleet management solutions into play. The benefits of these solutions can be completely realized by your business only if it is integrated efficiently. Dedicated fleet management services offer a host of benefits like optimizing productivity through efficient time management software, saving money on fuel,  boosting the quality of customer service and increasing satisfaction of employees. Such benefits protect your business against unseen costs and market fluctuations. We understand that keeping fleet management services well-managed may be a challenge, but the fact that it is an important necessity for sustainability and growth, cannot be denied. Therefore, in this article, we have tried to provide a detailed insight into Contact USsome of the key benefits of our fleet management solutions:

Benefits of Fleet Management Solutions

Efficient fuel management

The possibility of reducing costs is one of the most significant benefits of fleet management services. An efficient route planning together with the fuel information leads to optimizing the excessive idle time costs and fuel consumption. Management of fleet will be also useful for planning the refuel locations. It becomes easy for the dispatchers to see in real time where each asset or vehicle is located in order to plan the most convenient route. Another benefit of fleet management solutions is that the traffic information helps in avoiding traffic congestion and wasting time and fuel in traffic jams.

Better customer service

Through fleet management services and integrated tracking system, customers get real-time information about the location of their assets. Additionally, they receive their cargo safely and on time due to efficient time planning. This improves the overall satisfaction of the customer and may lead to long-term involvement, meaning long-term business prospects with that customer.request proposal

Greater employees’ satisfaction

Proper fleet management services require dedication both from the employee and the employer. For its successful implementation, an efficient flow of information is very important. This means that the features of the fleet management services should be very well communicated to the employees. This can make employees feel satisfied with the result of the effort they put into the work.

Reduction in insurance costs

The theft prevention option through a GPS tracking system in fleet management solutions helps to minimize the insurance cost. Furthermore, it also helps to improve the road safety and reduce rates of accident, which can further reduce the insurance cost.


Having years of experience in working with fleet managers and leasing companies, SpendEdge promises to provide effective solutions to the problem. To know how our fleet management solutions can help you optimize your business, request a free demo now!

 

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IR23

Five Vehicle Telematics Companies That Will Change the Transportation Industry

Supercars, electric vehicles (EVs), autonomous cars, and shared mobility are all radically changing the landscape of fleet management and the automotive industry. On the same lines, telematics is combining automotive technology with computer science to create new possibilities in the fleet management sector. By merging GPS systems with onboard diagnostics, telecommunication systems, and other cars on the road, critical information can be shared which will improve fleet management, road traffic, and correct driver behavior. The benefits provided by vehicle telematics is endless. For instance, telematics GPS can send out data to insurance companies about an individual’s driving style or if any risky maneuvers are being performed. Vehicle telematics enables the connected car feature, which uses GPS and sensors in a car to communicate with other cars on the road and provide live weather, traffic, and parking info on the dashboard. Commercial telematics can be used by fleet management, insurance, automotive, utilities, and transportation companies.

Request Free SampleTop Vehicle Telematics Companies Affecting the Market Growth

Verizon

Verizon is a multinational telecommunications conglomerate that provides mobile communication network and information and entertainment services. It is also the largest wireless network provider in the US. Verizon telematics boasts an extensive product range including OEM professional services, usage-based insurance, Fleetmatics, Telogis, hum, Verizon Fleet Network, mbrace (Mercedes-Benz), and car-net (Volkswagen). Its vehicle telematics provides safety and security, remote access, infotainment, driver monitoring, personal assistance, navigation, fleet management, diagnostics, and maintenance features. In August 2016, Verizon acquired FleetMatics, a firm that provides SaaS-based GPS tracking system to increase its reach in the telematics market landscape.

Trimble

Trimble started out in 1978 by providing innovative positioning and navigation products. The company develops vehicle telematics solutions by integrating GPS, laser, inertial, and optical technologies with wireless technology, application software, and services. The company has a strong portfolio of about 1,200 patents under its name. Trimble’s in-vehicle navigation and telematics solutions consist of wide range of products including Bison DR + GNSS, Aardvark DR + GPS, Condor Family of GPS Modules, Buffalo GNSS Receiver, Antenna Companion Modules, Copernicus II, and OEM GPS Antennas.

TomTom

TomTom is a Dutch company formed in 1991 and is a market leader in PDA software with navigation applications such as Citymaps and RoutePlanner. It is the most popular navigation solution provider in Europe. Their award-winning fleet management solution, WEBFLEET provides real-time vehicle location information to communicate with the driver to help improve driver behavior and save on fuel costs. Additionally, the vehicle telematics solution also offers mobile WEBFLEET app, extensive reports, third-party solution integration, and order dispatch capabilities.

inseego

Inseego is a leading global provider of solutions for the internet of things (IoT) and software-as-a-service (SaaS). Inseego sells its vehicle telematics solutions under the brand name Ctrack. Ctrack includes asset tracking and monitoring, stolen vehicle recovery, fleet management, and usage-based insurance platforms. For enterprise, service provider, and government customers, their key solutions include Ctrack, DMA, a Subscription Management System, IoT and Mobile solutions supporting 4G and 5G for SD-WAN, mobile and fixed wireless connectivity.

MiX Telematics

MiX Telematics is a leading global provider of fleet management, mobile asset management, and driver safety and vehicle tracking services and solutions. The vehicle telematics company delivers solutions to its customers in more than 120 countries including vehicles ranging from trucks and buses to cars, vans, trailers, and motorbikes. Their fleet telematics solutions have over 625,000 subscribers worldwide who rely heavily on such solutions to boost efficiency by improving fuel consumption, driver behavior, utilization.

Read more about the top vehicle telematics companies along with telematics data, black box insurance, telematics system, pricing strategy, procurement best practices, and supplier evaluation criteria in SpendEdge’s upcoming report on the global commercial telematics market.

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Procurement Challenges Influencing the Travel Industry

The fleet management industry along with the car rental industry traditionally runs on a razor-thin margin because of high overhead costs. The travel industry thus relies on optimization methodologies to increase their overall profits. The companies achieve this through the increased scale of operations, improving process efficiency, and providing comprehensive service portfolio. In general, the travel industry faces lots of procurement challenges regarding vendor selection, technology integration, order processing, and real-time tracking. Here are some of the procurement challenges faced by the fleet management market and car rental services market in the travel industry:

Car Rental Services MarketCar Rental

  • The customers usually prefer having a wide range of selection to choose from while leasing out the car for purposes ranging from general commute to off-road trips. In such instances, the service provider should identify suppliers with a wide range of vehicles in their portfolio. Companies in the travel industry are facing challenges identifying suppliers that possess a wide range of vehicles such as economy cars, SUV, and luxury sedans
  • Engagement with suppliers is not over after the purchase of cars from the suppliers. The buyers require suppliers that can provide high-quality support services. It is challenging to locate suppliers having a well-established support network across the locations of engagement
  • A majority of companies in the travel industry are looking to abide by the emission standards and are thus preferring green vehicles. However, there are only a limited number of suppliers offering vehicles that run on alternative Lack of widespread availability of refueling options for such vehicles is hindering the success of green vehicles

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  • One of the most significant procurement challenge facing the fleet management services market is the inability to evaluate drivers’ riding behavior effectively. Increase in accident incidents can drive up repair costs and reduce vehicle performance. Players in this industry are trying to use data analytics to evaluate driver behavior effectively
  • In order to drive up economies of scale, fleet management companies usually follow the rule: The more, the merrier. However, there is a significant loss in opportunity costs as the majority of the vehicles stay idle.
  • Tracking vehicle status and getting every update about the activity in each of the vehicle is difficult across a large fleet. Such a lack of visibility over the maintenance process affects the maintenance of the fleet and increases the operational cost.

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IR32

Industry Best Practices Benchmarking Study for a Fleet Management Company

Category Overview

The fleet management industry is regarded as one of the primary industries in logistics and transport, driven by connected vehicles and smart transportation solution by various organizations. Over the years, this industry has seen an astonishing growth due to the higher efficiency and performance at reduced costs and a much-streamlined process. According to SpendEdge’s industry best practices experts, it has been noted that the tensions with procurement created by resource sharing, driver reimbursement, and life cycle costing are all affected by external market factors; thereby, challenging fleet management companies to cut down on costs. As a result, many fleet management companies have started adopting industry best practices studies to gain a list of diverse skill sets and establish themselves in this market space.

Moreover, the industry best practices studies offered by SpendEdge help fleet management companies adopt best-in-class sourcing and procurement strategies.

The Procurement Pain Point and Insights Offered

A leading fleet management company wanted to identify a list of the major competitor businesses and their key suppliers. Additionally, the client also wanted to implement a lean, scalable, best-in-class, and efficient procurement process and cut down costs. Furthermore, they also wanted to assess the sourcing and procurement best practices of peer group companies to serve their clients better.request free proposal

To cater to the specific category requirements of the client, the industry best practices experts at SpendEdge carried out a blended research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methodologies.

During the course of this industry best practices study, the fleet management client was able to identify the key drivers for this procurement process transformation project, including organization design, technology, and optimization techniques. Additionally, the client was provided a list of the major competitor companies and their key suppliers to enhance their overall procurement process.

Key questions answered in this industry best practices study include

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Business Outcome

The industry best practices study helped the client implement a lean, scalable, best-in-class, and efficient procurement process. Additionally, the client was able to identify and discard the inefficient and unproductive processes across platforms. As a result, the fleet management client was able to cut down the overall cost.

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IR2

Changing the Landscape of the European Fleet Management Market with Next-Generation Procurement Practices

The fleet management market in Europe has been exhibiting promising growth over the past couple of years. Modern vehicles are getting more fuel-efficient, environmental friendly, and having an extended vehicle life, which, in turn, is reducing the Total Cost of Ownership (TCO). This is subsequently contributing towards the growth of the fleet management market in Europe. The growth prospects for the fleet management market in Europe looks positive with the rising number of commercial vehicles.

Fleet procurement can be a complicated and time-consuming affair since a fleet manager has to deal with dynamic market-wideGet More Info variables such as country-wise regulations, fuel prices, maintenance labor rates, and other service-related costs. The impact of the decision usually is not instantaneous; it can be felt years after the decision has been made since it’s a massive investment with many complex components. Big organizations often involve their finance department along with procurement and compliance department to take the final decision.  It is advisable to include all affected stakeholder during the fleet procurement process as a best practice to avoid discrepancies.

European Fleet Industry Progressing Their Procurement Practices

The fleet industry in Europe is attempting to remain efficient by revisiting their current procurement practices and giving up on traditional measures to adopt industry best practices. Advancement of technology is easing the pressure on the fleet industry by enhancing the car performance in terms of powertrain, fuel-economy, engine optimizations, safety features, and smartphone integration. Also, lowered insurance costs, maintenance and fuel costs, tax rates, and time efficiency factors are driving down the TCO of a vehicle.

Here’s a look at how the fleet industry is improving their procurement practices:

Fleet Procurement Best PracticesTrends in European Fleet Management Market

Shifting Focus Towards Mobility Management

Europe, in particular, accounts for the highest car-sharing service per capita with a customer base of over 2 million. The car sharing practice would hurt new-car purchases but would significantly reduce the TCO as several fixed costs such as maintenance, repair, depreciation, and insurance are shared.

Stakeholders in the fleet procurement are also exploring blending connectivity options to bring about efficiency. Apart from extending the services provided by the leasing companies, they are exploring ways of delivering added value through data management andSE_Demo2 predictive flexibility. Customers are offered a wide variety of mobility solutions with the advent of multimodal transport solutions, vehicle analytics, and car-sharing. This, in turn, pushes the car manufacturers to accommodate their business activities to provide a one-stop solution to customers. Car manufacturers are reliant on autonomous and electric vehicles to enhance features, increase driver safety, and bring down the overall running costs. Fleet managers are thus compelled to look for innovative options to not only save on procurement costs but also enhance the value to their organization.

How can Driverless Cars Shape the Fleet Management Industry?

Driverless cars have brought about a paradigm shift in the fleet management industry. Intensive machine learning and automation have transformed the driverless car technology to such an extent that such vehicles can operate itself better than a human. Automotive players along with technology giants are investing huge sums in this technology to roll out more autonomous cars in the European roads.

This breakthrough technology will affect a fleet manager’s decision-making process. Here’s how:

Driver-less CarsTelematics to Enhance Fleet Performance

Telematics takes the efficiency of fleet management to the next level by carrying out an analysis of driver data and suggesting measures to improve the effectiveness. The goal of telematics is of efficient driver management by means of collecting driver data to provide timely feedback to assist drivers on safer driver behavior. Also, driver incentives are associated with key metrics to ensure optimal driver behavior. The incentive calculations are done using sophisticated analytics – taking into account parameters such as mileage, fuel usage, idle time, and driver behavior, which rewards them using points-based systems. The real-time data gathered from a telematics system can provide constant updates to reduce delays and handle traffic more efficiently.

Telematics

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IR29

Top 5 Trends in the Transportation Industry in 2017

The transportation and logistics function is the backbone of every efficient supply chain, enabling organizations to facilitate a smooth flow of goods throughout the globe. The scope of transportation industry is wide, including passenger transport and commercial transport i.e. passenger transport that helps you and me to commute from home to work and back; and logistics and freight transport that facilitate transferring containers either by ship, rail or trucking networks across the globe. The global transportation market, especially the US market, is vastly competitive, reaping benefits of a highly skilled labor force, low costs and reduced regulatory and compliance burdens.

Today, the most dynamic and thriving industry- transportation, is expected to massively adopt digital technology; adapt to it internally and integrate it into its processes for accelerated growth. Companies are upping the ante in terms of investment in digitizing operations especially internal activities such as fleet maintenance, scheduling, repair and streamlining processes. Wondering what surprises 2017 holds in store for the transportation industry?

Herein are the 5 trends that will shape the fortune of the transportation industry in 2017

 

Bid Goodbye to Traffic woes – Traffic Management Systems (TMS)

With the sudden surge in urbanization and population, increase in traffic, accidents and parking issues have cropped up, globally. The increase in the demand for real-time updates has facilitated or propagated the development of the traffic management system (TMS) concept. A TMS essentially facilitates planning, monitoring and controlling traffic, in order to realize the maximum benefit of existing infrastructure and provide highly reliable and secure mode of transport and pay heed to environmental concerns among consumers.

Autonomous Cars and Self Driving Trucks

A self-driving vehicle or an automated car is a vehicle designed to travel between destinations sans any human input. But as of today, these vehicles are not permitted on the road without a driver. Therefore, companies are developing driverless software, which will make autonomous driving a reality in the next few years. For example, Google’s self-driving car project waymo that stands for a ‘new way forward in mobility’ has created enough buzz around the new technology.

Fleet Management Solutions

Fleet management makes use of GPS, sensors and mobile systems to monitor vehicles in real time and includes functions such as vehicle financing, maintenance, tracking, speed, fuel and driver management. It helps the companies to negate the risks associated with fleet management and investment, thereby improving its efficiency and productivity while reducing costs.

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Real Time Logistics Tracking

Analytics and big data will facilitate integration of trucks and containers into logistics throughout the supply chain. Cloud based architecture and mobile applications will help transport carriers and companies in tracking and monitoring the vehicle location, temperature, pressure, health of the driver and estimated arrival time of the vehicle. The vehicles will also be enabled with sensors that will assist in determining route and space thereby making the operations efficient and effective.

Predictive Network

Predictive analytics can be used to tap into new growth opportunities in the transportation industry. The humungous amount of data at the disposal of the carriers can be used to derive actionable insights to predict consumer behavior and their shopping habits. This also means that the carriers can pursue these insights to provide on time delivery irrespective of peak traffic periods and other possible roadblocks. The freight and shipping carriers can leverage this data to manage their fleets, improve capacity, optimize routes and forecast traffic.

Therefore, Transportation industry is set to make a mark in the coming years with these five ground breaking trends. With SpendEdge, our procurement experts will offer effective solutions to help you optimize your sourcing strategies thereby reducing operational costs.

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