ELD Solutions
Overcoming challenges and achieving goals
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In an era of rising costs, fleets are using technology to find new ways to control costs and generate revenue. For the first two decades of the 21st century, the U.S. inflation rate for urban consumers stayed below 3%. However, in 2021, it jumped to a monthly average of 3.6%. One year later, the average hit a whopping 6.2%, and fleet budgets have felt it ever since. Although 2023 saw the inflation rate dip slightly, costs remain high.
Inflation affects nearly every budget line item, from vehicles and equipment to labor and insurance, so fleets are forced to get creative. Fleet management technology can be an effective cost-control tool—helping fleet managers get more out of existing resources, find new ways to cut costs and become more competitive.
Adopting fleet technology is a standard practice, according to respondents of the most recent fleet technology trends survey, which was conducted between May 19, 2023, and July 29, 2023, for Verizon Connect by Bobit Business Media, publishers of leading trade publications such as Automotive Fleet, Business Fleet, Government Fleet and Heavy Duty Trucking.
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Key takeaways
GPS technology usage
Four out of five respondents indicated they use at least
one form of fleet technology.
Controlling costs
The percentage of fleets indicating increasing costs are
very or extremely impactful remains high at 79% in this
year’s report. Using video technology, fleets were able
to achieve their goals, including protection from false
claims (77%), reduced accident costs (48%) and reduced
insurance costs (44%).
Getting more from existing resources
The top goal achieved by fleets using a GPS fleet tracking
system was improved productivity, which saw the largest
increase since last year’s report, from 50% to 55%.
Reduce Fuel Consumption
Manage idling and track fuel consumption across your fleet
ELD Compliance
Stay compliant, avoid violations and optimize driver hours
Increase Efficiency
Understand operational performance and identify areas to improve
Improve Safety
Use the latest video technology to create a culture of safety
Operational Efficiency
Get the visibility and insight you need to run your fleet
Turn data into decisions with fleet management software designed to answer your biggest questions, instantly. With real-time location tracking, instant data capture from driver apps and industry leading analytics you will have everything you need to keep your fleet on road and running effectively.
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Driver Safety
Promote and monitor safe driving in a single platform
Develop a driver safety program designed to measure risk and encourage safe driving practices across your fleet. With the driver safety solutions on TN360, you can record performance and benchmark drivers with automated scorecards, create personalized training programs, ensure your fleet is fully maintained and get complete visibility with Smart Dashcams.
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Fleet Compliance
Protect your people, your assets, and your business
With real-time alerts, simplified workflows, automated logging and detailed reporting, you can rest assured knowing your employees are safe and your fleet is meeting all government standards. Get everything you need to streamline compliance management, so you can stay focused on running your business.
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