Telematics & GPS Return on Investment
Return on investment (ROI) is a performance measure used to evaluate the efficiency of an investment, or to compare different investments. ROI measures theÃÂÃÂ amount of return on an investment relative to the investmentÃÂ¢ÃÂÃÂs cost. To calculate ROI, the benefit (or return) of
an investment is divided by the cost of the investment, and the result is expressed as a percentage.
The telematics industry has come a long way since the days of downloading data when a vehicle returns to home base and providing ÃÂ¢ÃÂÃÂdots on a mapÃÂ¢ÃÂÃÂ. Today, telematics can provide fleet managers instant reports on location, vehicle driving behavior, maintenance alerts and so much more, thus providing a significant ROI.
5 Pillars of GPS/Telematics for Return on Investment
ÃÂÃÂ· Safety ÃÂ¢ÃÂÃÂ Speeding, harsh driving behavior, reverse, seatbelt, accident reduction
ÃÂÃÂ· Productivity ÃÂ¢ÃÂÃÂ Stop duration, dispatch, route efficiency, sales/service calls, timely service
ÃÂÃÂ· Optimization ÃÂ¢ÃÂÃÂ Proactive maintenance, odometer readings, vehicle health, fuel consumption
ÃÂÃÂ· Compliance ÃÂ¢ÃÂÃÂ Company policies, State/Federal laws, HOS
ÃÂÃÂ· Expandability ÃÂ¢ÃÂÃÂ Integrate with 3rd party software, power of the IOX, marketplace
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