The demand for new innovative ways to reduce costs and boost efficiency continue to drive the fleet industry to undergo a digital transformation. While a lot of the innovations seem like science fiction, many businesses are focusing on developing strategies to ensure they are not left behind. They understand that they need to stick to the best fleet management software to unlock their fleet’s potential.
Below are the latest technology trends in fleet management software and how companies can take advantage of such advancements in technology to stay ahead of the competition.
The volume of data that fleet managers handle is growing substantially with connected and autonomous cars moving a wide range of people and goods. The telematics or systems in vehicles that collect vast amounts of information, from the car’s location to the engine’s condition, are nothing new. Today, however, the increasing sophistication of these systems is becoming more evident. With the right fleet management solution in place, fleet managers can now monitor multiple real-time vehicle statistics, such as, who’s the driver, where he goes, at what speed, and so forth.
Moreover, many companies nowadays integrate their telematics systems with other business solutions such as accounting, data automation, information transfer, and fuel cards. It is not surprising therefore to see its adoption rates continue to be on the rise as fleet managers aim to obtain greater visibility into various operational aspects such as safety, compliance, and maintenance. According to Berg Insight, there will be 159 million telematics units installed across the globe by 2020.
Unfortunately, with all the necessary information coming to a company’s fingertips, such information can become valuable to hackers as well. Uber, for instance, was tangled in a massive data breach in 2018. With this in mind, fleet managers scramble to ensure that their valuable data is secure and well-protected to prevent negative publicity and legal implications of being hacked. The best fleet management software can provide this security.
2. Mobility-as-a-Service (MaaS)
Transportation has become an on-demand service in recent years, thanks to the rise of ride-sharing services such as Lyft and Uber. This has resulted in less number of personally owned cars.
From fleet management’s perspective, MaaS influences how fleets are managed. While many companies today have their own fleet of company vehicles, there is a growing reliance on car-sharing to address their transportation requirements. As a result, a new concept is revolutionizing the fleet manager’s role in Europe.
Mobility management, instead of overseeing company vehicle usage, motivates employees to select the most sustainable and efficient mode of transportation. It also recompenses them with different incentives, thanks to fleet management software features that make everything possible.
3. Automated Vehicles (AVs)
The role of fleet managers is about to become a lot more efficient with autonomous driving coming down the road to reality, along with the right fleet management solution in place. AVs are now being tested across the world and are coming closer to commercial release. The impact on the fleet industry will be huge when it happens.
As soon as artificial intelligence is integrated, AVs can analyze and manage data independently. This can have enormous implications for fleet management.
Today, connected cars are already equipped with monitoring capabilities to keep track of their own health and forecast maintenance requirements. With AI coming to the equation, AVs can possibly schedule mechanic appointments and drive themselves straight to an auto repair shop. They can likewise select more efficient routes and monitor traffic in real-time.
4. The Connected Car
Speaking of connected cars, automobiles today are no longer merely a passenger compartment and engine on wheels. A lot of them are now exceptionally advanced, equipped with computing power that matches up to 20 personal computers and a processing capacity of as much as 25 GB of data per hour.
Connected cars, by definition, are any motor vehicles that use wireless data sharing and internet technology to execute and improve upon different functions. Data from Statista showed that connected cars are projected to have 100% market penetration by 2026.
Its advantages on its own are obvious: fleet management becomes an activity that is highly responsive. This, in turn, boosts productivity and efficiency with location, vehicle status, and availability anywhere at any time playing significant roles.
Should You Invest in Fleet Management Software?
The fleet industry is increasingly going digital, which can have an enormous impact on how companies manage their fleet. The trend is also driving innovations to reduce spending and boost efficiency.
Fleets that do not keep up with the current trends and updated fleet management software could find it hard to find their place in an industry that is moving ahead continuously. Fleet managers thus need to keep a close watch on the latest transformations and be prepared for revolutionary changes in the future. Investing in a scalable and highly adjustable fleet management software is a great way to maintain your company’s relevance in the industry.
Check out DRVR today to learn about their fleet management software pricing and choose the best one that suits your company.