Telematics & GPS ROI
Return on investment (ROI) is a performance measure used to evaluate the efficiency of an investment, or to compare different investments. ROI measures the amount of return on an investment relative to the investment. 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 dots on a map. 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 Fleet Management for Return on Investment
Safety – Speeding, harsh driving behavior, reverse, seatbelt, accident reduction
Productivity – Stop duration, dispatch, route efficiency, sales/service calls, timely service
Optimization – Proactive maintenance, odometer readings, vehicle health, fuel consumption
Compliance – Company policies, State/Federal laws, HOS
Expandability – Integrate with 3rd party software, power of the IOX, and Geotab Marketplace
Return on Investment is The Life Blood of Every Business
ROI is where we focus, so watch for more posts on this subject. If it doesn’t save you money or make you money, why would you want to invest in it? For that reason, our approach is to consult with you rather than “sell”.
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