Digging Into the Numbers: Research Reveals the Connected Future of Fleets

 -  Image Courtesy of Ridecell

Image Courtesy of Ridecell

Ridecell and ABI Research published a joint whitepaper that details why it is imperative that companies in the fleet industry streamline their operations through digital transformation. The results of an in-depth survey of 300 fleet professionals conducted by ABI Research clearly shows that fleet managers must move beyond data interpretation to data-driven automation, as business results move to machine processing of fleet actions.

“For the past several decades, connecting fleets has been the primary means of digital transformation for fleet-based businesses, enabling fleet managers with a better way to monitor and optimize their operations in real time,” said Mark Thomas, EVP of Strategic Alliances at Ridecell. 

“The survey with ABI research shows how companies with fleets have stalled out on their digital transformation initiatives and are reaching the limits of what can be done with connected and camera data. Fortunately, the survey also shows that many have come to understand that automation and keyless technology together promise to bring the next phase of transformation to their businesses. The responses in the survey show that there is awareness but lagging progress with the automation and keyless phases of technology adoption.”

More Efficient Maintenance and Cost Management

The survey data shows that while fleet managers have visibility into various data points such as how much fuel is used, the costs of labor and maintenance, fleet management systems are ineffective in helping fleet businesses to reduce costs and be more fuel efficient.

  • 72% of fleet managers say that cost reduction (i.e., fuel, labor and maintenance) is one of the main benefits of using workflow automation
  • 67% of fleet managers say vehicle maintenance scheduling is one of their top areas of concern in need of digitization

Improving Communication and Collaboration

The fleet industry was quick to adopt digital solutions to manage everything from driver routes and assignments to vehicle reuse. However, now all of these fleet management systems have become data silos, and this has a negative effect on communication and stakeholder collaboration.

  • 62% of businesses stated that fleet management digitization is their top priority
  • 45% of fleet managers are looking to streamline and automate workflows for better stakeholder collaboration
  • 50% of fleet managers are looking for a single data view when looking to digitize their fleet operations.

Sustainability and Compliance are Key

In addition to operational efficiency, fleet based businesses have sustainability and compliance goals they need to meet. Being able to automate routine workflows, manage fuel resources (for example, automatic shut off of vehicles after idling for a certain amount of time), and also improve labor conditions is a top priority for fleet managers as indicated by the ABI Research survey results.

  • More than 68% of businesses view enhanced sustainability of their fleet operations as an important goal of their business
  • 68% of fleet managers say improving safety and compliance is their main goal when digitizing fleet operations

Digital transformation of fleet operations can address all of the concerns expressed in the survey by helping businesses reduce expenses and improve efficiency in different ways, including:

  • Being able to provide more accurate and timely delivery times to customers
  • Enhanced driver safety and productivity
  • Better decision-making and risk mitigation
  • Enabling preventive maintenance to identify potential vehicle maintenance issues before they impact productivity
  • Downtime and idle time minimization
  • Reduced operational costs

Manual fleet management requires managers to spend a lot of time on administrative activities, including recordkeeping, scheduling, and vehicle utilization, which can distract from strategic fleet management activities such as cost reduction and performance optimization. Managers that dismiss fleet insights and suggestions due to information overload are missing a huge chance to improve efficiency, safety, and cost.

Fleet-based businesses require digital transformation to enhance and simplify fleet management, including important functions such as GPS tracking, automated maintenance scheduling, and vehicle routing. With technology-optimized fleet automation, companies can boost profits, customer satisfaction, and risk reduction while achieving operational efficiency and cost savings.

Download and read the complete whitepaper.

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