Three key asset management issues and how connectivity can overcome them

Over the last few years, the fleet and asset management industry has undergone a digital transformation with rapid adoption of telematic technologies.

As organisations around the world had to respond nearly overnight to COVID-19, many fleet management providers already had an established digital footprint upon which to rely as more organisations looked to track various parts of their business remotely.

However, that doesn't mean all fleet management companies are the same. Fleet and asset managers need to understand important differences when comparing solutions to ensure it can overcome three key asset management issues.

The difference in flexible connectivity

Chilean telematics company TrackTec develops hardware and asset tracking solutions for clients throughout Latin America (LATAM).

With a range of customers in various industries such as public and private transportation, construction and heavy equipment, mining and retail, its capabilities must be flexible enough to build specific tracking solutions for different challenges.

TrackTec uses our IoT services for seamless connectivity in these customised solutions.

Instead of having to switch SIMs for various networks in different LATAM regions their clients are in or travelling through, the Vodafone Business IoT universal SIM ensures TrackTec’s customers’ fleet and assets are always connected and visible.

Vodafone’s in-country roaming capabilities allows the device to pick the best network available in each location, providing the best possible coverage.

Flexible connectivity means TrackTec customers never have to worry about where an asset is located in order to to track it. Meanwhile, TrackTec can scale with its customers’ needs and confidently expand services into new regions regardless of that region’s network.

Addressing key issues

By tracking assets with confidence, no matter where trucks, machines, or equipment are located or what type of industry a customer is in, TrackTec can help focus on helping clients tackle specific challenges, such as:

1. Operational visibility: Connected GPS monitoring allows managers to see the availability of their entire fleets, both where they are and how they’re being used. With this knowledge, managers can more efficiently deploy or redeploy fleets to where they are needed most. For example, in public transportation, authorities can monitor the positions of buses across different sectors within a community to better understand traffic patterns and demand.
    
2. Preventative maintenance: The use of telematics can significantly improve maintenance costs across assets. By collecting and monitoring data, such as how many miles a vehicle has been driven, how it was driven and what previous maintenance was performed on it, fleet managers can predict and then replace components before a failure happens. With this capability, TrackTec has helped its customers reduce maintenance costs by 20%.
    
3. Safety and security: Companies can monitor driver habits and performance to uncover any dangerous behaviors and mitigate unsafe driving. This helps fleet managers prevent accidents and improve driver skills. With social distancing remaining in place for the foreseeable future, connected solutions can also monitor the capacity of public transportation to prevent overcrowding and ensure passengers are following recommended protocols.
    

With the right connectivity attached to the right solution, fleet and asset managers can tackle challenges and improve their business.

Learn more about TrackTec and how IoT can help you design the solutions to fit your business.