Looking back a year ago, there were fears in the automotive and transportation industries that we may never fully recover from the pandemic. But as businesses embraced change and stayed resilient, they were soon rewarded for their forward thinking. While technology has been rapidly evolving for fleet operators, it has become apparent that it is no longer a commodity but an essential tool to remain successful and grow. A recent report commissioned by Verizon shows how the adoption of new, connected technologies has impacted fleet businesses in the last year.
The overarching theme of their report is that, while some may think connected tech can only bring complexity and confusion, the truth is entirely the opposite. The study showed that 96% of fleets using GPS fleet tracking software found it to be beneficial, and a full third of businesses that implemented new tech saw a positive return on their investment in just six months.
44% of survey respondents reported that increasing costs is a top challenge; it may not seem like the best time to adopt new software, but Verizon’s study showed doing so could help significantly reduce costs, and the potential for positive ROI is relatively high. Study participants reportedWith an average 8% decrease in fuel costs, and an 11% reduction in accident costs.
Among our own customers, we know that retail automotive fleets can save about $70 per vehicle each month. And that comes with important ancillary benefits, including reduction in the time needed to fill out paperwork, and an increase in overall fleet efficiency that can contribute to higher volumes.
Surely there are financial and logistical benefits of fleet technology, but another valuable benefit can be found in customer service. This study shows that customer service emerged as one of the key areas of improvement for fleets that integrate tech. We all know how competitive this industry can get, so keeping customers happy is crucial to ensure they return, and between visits talk about your company in a positive light.
In another study conducted by J.D. Power, Dealerware customers reported increasing their CSI scores by more than 27 points after implementing our solutions. With things like contactless contracting in less than a minute, simple agreements that set clear expectations, and the ability to implement pickup and delivery, it’s clear why our customers stand out from the competition.
While some of the survey results do apply to logistics and construction companies that may have enormous fleets, a sizable portion of the respondents manage smaller fleets (50% manage up to 50 vehicles; 34% manage up between 50-499). At Dealerware we strive to make fleet technology a valuable investment for fleets of all sizes, and that’s why our platform is affordable and can be integrated in as little as one week.
You may be hesitant to invest in technology for your fleet, but it’s soon going to become essential to remain competitive if it isn’t already in your area. Fleet tracking software is growing rapidly, with Verizon Connect survey respondents reporting usage is up 8% to 72% in just a year. As this number continues to grow, fleets that are early adopters are going to see their investments pay off, and sadly those that fail to realize the benefits of tech will be left behind.
Check out the full Verizon Connect study, and talk to a Dealerware representative today to find a solution catered to your fleet.