A new report highlights how successful implementations of transformative technologies such as connected vehicle and asset operations (or telematics) platforms can translate to increased safety, efficiency, productivity and cost savings for the companies that use them. Based on a survey of 227 IntelliShift customers across various industries, the report shares how 90% of respondents say these platforms allow them to focus their time on other tasks to improve the company’s bottom line, with 80% indicating they have seen increased return on investment in the technology.
"The 2021 State of Connected Operations Report: Customer Insights and Trends” goes on to show utilization of connected vehicle and asset operations platforms make it possible for companies to eliminate redundant, inefficient or error-prone processes, driving cost savings across the entire organization.
According to the report:
- 70% of respondents say process optimization has increased since deploying a connected vehicle and asset operations platform
- 57% say they save one to five hours per week on process or workflows, with 16% saving six to 10 hours and 10% saving over 10 hours each week
- 78% indicated they have more visibility into fleet operations now that they are using the platform, while 38% have greater visibility into safety and 33% into maintenance
With the telematics industry long plagued by disconnected systems, access to real-time, non-siloed data emerged as the most important factor among survey respondents when selecting a telematics platform. Three in five labeled such data as their top priority and 86% noted that access to non-siloed data has provided deep insights for their organization, drastically improving operations. Other critical selection priorities include ease of use and/or implementation (55%) and leveraging a unified, all-in-one platform that not only collects data, but synthesizes it to provide actionable or predictive insights (40%).
When asked what is most important in order for this data to help within their organizations, cost reduction and resource management of people and/or assets rose to the top at 45% and 38%, respectively. This was followed by increased monetization of vehicles and assets (30%); connecting operations processes (20%); and business intelligence (17%).
“Access to on-demand data and end-to-end operational intelligence is critical, particularly in an industry where assets are constantly on the move,” said Ryan Wilkinson, chief technology officer, IntelliShift, a leader in connected vehicle and asset operations. “As we’ve seen with our customers, gaining these actionable insights through the right technology platform can increase agility and speed. It also sets the foundation for intelligently predicting and optimizing business performance, as well as understanding how individual and departmental KPIs ladder up to create a winning organization.”
To learn more, click here to download the full report.
Information provided by IntelliShift and edited by Becky Schultz.