Many customers are becoming interested in using electronic logging devices (ELDs) for their fleets as a result of the looming ELD legislation. The customers' main issue is automatic tracking of driver hours in order to stay in compliance with Hours of Service (HOS) requirements. Electronic logging, on the other hand, is only a minor part of a much bigger fleet management solution.
What Can ELD Technology Do for You?
Fleets benefit from ELD technology because:
- Reduced operating costs
- 30 percent increase in profits
- 20 percent reduction in critical safety events
- Keep the best drivers.
- Customer service should be exceptional
Eliminate HOS Violations to Reduce Operating Costs
Electronic logs eliminate the possibility of human error, making them the ideal solution for HOS infractions. By eliminating the possibility of error, some of the most costly regulatory violations are avoided right away. Falsification of logs and drivers accidentally exceeding vehicle time are eliminated with automated logging.
Improved fuel efficiency can increase profits by 30%
According to a recent FMCSA study, a 5% gain in fuel economy, which is easily achieved by fleets who implement telematics, translates into a 30% increase in profit margin due to the compounding effect of thin profit margins.
Reduce the number of critical safety events
After installing Omnitracs technology, several customers report a 20% reduction in important incidents. This technology accomplishes this by effectively tackling nearly all of the most common causes of car accidents. Managers can utilize the data to discourage risky driving behavior.
Incentive programs might help you keep your best drivers
Many fleets are implementing incentive schemes that reward the most efficient drivers with additional money. These types of programs boost profits by motivating drivers to help cut fuel expenses and lengthen vehicle life by reducing speed and idle time.
Real-Time Reporting
Real-time reporting gives managers the option to see driver location, delivery status, available travel time, and vehicle health in real-time. This data provides managers with everything they need to provide exceptional customer service.
A good ELD Fleet Management Telematics Solutions system does more than just check the box for now-required ELD compliance. It also identifies other ways fleets can improve their safety and efficiency.
A good fleet management solution helps you drive improvement, eliminate risks and monitor fleets in a very effective manner.
We understand that the solutions in question are directly linked to productivity, operational excellence, and company policy compliance.
So, here are some of the major factors to consider before you purchase the best fleet management platform for your business:● Policy ComplianceThe right fleet management solution will meet all the minimum compliance requirements for IFTA, DVIR, ELD, and more.
The solution shall also be future proof and constant updates and tweaks need to be implemented to meet the changing business needs and maximize effectiveness.● Safety & Driver Behavior MonitoringWhen evaluating your fleet management solution “fleet safety” is key, a solution with a focus on driver behavior tracking and real-time alerts in unusual events is always the best to opt for.
Additionally, some of the top fleet management solution providers, like Tangerine, provide tailored training programs that help businesses train their employees for effective management.● Efficient Fleet OperationsModern telematics provides companies with the intelligence to run more efficient fleet operations.
Tangerine’s fleet management platform provides insightful reports on driver behavior monitoring.
Fleet management solutions market is expected to witness significant growth over the coming years owing to several cost benefits over its counterparts including Software-as-a-Service (SaaS) and cloud-based deployments.
Declining hardware and software costs alongside superior operational efficiency are also supporting fleet management solutions.North America has witnessed substantial growth owing to the rapid adoption of fleet management solutions and strict government mandates.
Major players dominating the global market include ARI Fleet Management, Azuga, Chevin Fleet Solutions, Ctrack, Donlen Corporation, Geotab, GPS Insight, Masternaut, MiX Telematics, Nextraq, Teletrac Navman, Trimble, Verizon Connect, Wheels, Inc., and Fleetroot.Request PDF Sample: https://www.insightslice.com/request-sample/242The report titled “Fleet Management Solutions Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period.
Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global fleet management solutions market.
Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study.
Ctrack was founded in South Africa in 1985, and today Ctrack operations span over 50 countries on six continents.
