Rethinking telematics: How to increase fleet productivity – Step 2 – build an ROI productivity model
In part one of this six-part rethinking telematics series, we introduced our partnership with MapAnything. We also covered the differences between traditional telematics and our new MapAnything product. But let’s not stop there. Let’s continue the conversation on how to increase fleet productivity by building an ROI productivity model with the below excerpt from MapAnything:
In order to thrive in our current “on-demand” economy and satisfy ever-increasing market expectations, it’s more important than ever for business like yours and ours to prioritize customer service excellence. And that means during every single interaction, no matter the place, time or circumstance. A key part of this fundamental transition rests on empowering our field teams with the technology and processes they need to maximize their daily productivity and output. For many companies this means integrating their Telematics with Salesforce.
In part one of this series we established the importance of identifying and selecting key objectives for your Telematics integration. The next step, and perhaps most important, is determining the criteria that your integration efforts will need to meet in order to be considered a success. We recommend you start by identifying qualitative and quantitative metrics that will enable your team and fleet to reach new efficiency levels.
The following are suggested areas where metrics can prove ROI.
- Maintenance – Measure and extend the life of your fleet. A 5-10% improvement in the overall life of an asset can save between $30-70k. Reduce vehicle downtime by proactively tracking maintenance schedules and optimizing for productivity and vehicle longevity. (FleetBeat Report)
- Productivity and revenue – Improve productivity by automating Salesforce or telematics data entry. Field sales and service teams that use integrated telematics and CRM eliminate 80% of manual tasks like tracking mileage, determining their best routes, and logging activities post-sales or post-service call. Fleets that use route-planning software see an average of 13% increase in customer visits per day. (FleetBeat Report)
Build Your ROI Model for Cost
It’s vital that cost saving measures are a part of your model. Here are a few examples:
- Safe driving lowers TCO – Accidents can be costly, and can be avoided by monitoring a number of different factors within your fleet, such as time of journey, speed, acceleration, braking, and familiarity of routes.
- Customer experience – It costs much more to win a new customer than it does to expand the business you do with an existing one. Routing optimization helps ensure your fleet makes no late deliveries.
- Less “wasted” fuel costs – Real-time routing software takes into account current traffic and weather conditions, minimizing time spent being idle for your fleet.
- Compliance – The Electronic Logging Device (ELD) mandate went into effect on December 18th, 2017. Ensure you have an ELD-compliant solution if you’re subject to the regulations.
Hopefully after steps one and two, your Telematics and Salesforce integration is beginning to take shape and reflects the specific initiatives that will help advance your bottom line to the next level. I’m excited to share part three of this series with you in the next week or so, so be on the lookout.
Can’t wait another second? Download our new “Rethinking Telematics” guide to find out now.