26
Nov

Survey: Contractors grossly underutilizing telematics methods, leaving cash on the desk; time constraints, lack of know-how accountable

Monitoring your fleet with telematics instruments is among the greatest instruments you need to use—except you don’t use it. And, because it seems, most contractors aren’t doing a lot—or all that they may—with the expertise.

That’s one of many key findings in a survey lately accomplished by Teletrac Navman. Though 90 p.c of the businesses surveyed are utilizing telematics, they’re on common utilizing solely three out of the 12 options their methods provide.

Most contractors tee up the fundamentals: car and tools location (73 p.c), pace (55 p.c), and hours of service (51 p.c). However in terms of measurements that might save them cash, the participation price is much less spectacular. Solely 22 p.c monitor engine hours and 28 p.c use telematics to handle upkeep. On the enterprise finish of issues, simply 38 p.c use their telematics to extend earnings and 37 p.c use it to cut back operational prices.

One of many largest paybacks from telematics is the flexibility to observe gas use however solely 21 p.c of the respondents say they did that. But the respondents who did monitor gas use reported a mean lower in gas consumption of 13 p.c.

 

So what offers guys?

In response to Michael Bloom, director of product administration, development and analytics at Teletrac Navman, managers may merely be unaware of the depth of data they’ll extract from their telematics methods. “It’s unlucky that clients aren’t these metrics extra typically, as a result of the information they generate, if used to affect choice making, may have a large affect on the underside line,” he says.

Time constraints are one other issue, says Bloom. “Getting worth out of your telematics information requires some preliminary time funding. Managers now have entry to a lot data that it may be overwhelming, and so they don’t know what all of it means or what actions to take,” he says.

The answer is to first work out precisely what you need to measure to additional your group’s targets. “There isn’t a one-size suits all advice,” says Bloom. “Nonetheless the prices of not taking the time to do that will nearly sure have a damaging impact on the group’s backside line, as they miss out on important value financial savings and security advantages.” As proof of the later, Bloom says that 51 p.c of the respondents reported fewer security incidents since adopting telematics. 

 

Make it give you the results you want

“The purchasers we’ve seen who’ve essentially the most success are those who often use the telematics platform to handle their processes, analyze the knowledge the system supplies and take corrective motion within the subject,” says Bloom.  “Telematics merchandise have a full breadth of capabilities, and essentially the most profitable clients are those who use as lots of these capabilities as doable.”

The managers who use telematics to its fullest benefit monitor their tools for the precise issues, and “proper” is dependent upon every group’s distinctive targets, says Bloom.  “This brings order, perception and context to the plethora of information they see every day and helps them distill what’s helpful and what might be remodeled into actionable insights.”

Bloom additionally suggests investing in job administration software program that features sturdy reporting capabilities. “The sheer quantity of information pouring in from related automobiles and tools is rising on a regular basis and it’s onerous to make sense of all of it,” he says.  “Information by itself doesn’t robotically equal ‘data’ — it’s solely helpful if it’s accessible and one can derive significant actions to take because of this.” 

You’ll be able to take a look at the complete outcomes of Teletrac Navman’s telematics benchmark survey by clicking right here.