Currently, the telematics industry appears to be an ever-evolving industry that not every business is aware of. Simply because of its recent appearance, it may be hard for businesses to fully understand the financial benefit or the ROI of telematics. However, as a reseller, it’s critical to explain how IoT technology can be a truly beneficial investment for those who adopt it. In fact, a recent Bobit Business Media and Verizon Connect survey found that in regards to the ROI of telematics, 30% of respondents reported that they noticed a positive ROI in approximately six months or less.
Leveraging The COI and ROI of Telematics Argument
One point that is critical for resellers to highlight, is the debate between COI (Cost of Ignoring) and ROI (Return on Investment) of telematics. While some businesses may find that they are operating at an acceptable pace without introducing new advancements, they could be paying the price of ignoring technological improvements. Meaning, the money invested in a telematics solution could, in fact, pay for itself and continue to help the business save on costs in the future.
Highlighting Two Benefits
Boost in Efficiency
Productivity and efficiency are the two core benefits of telematics solutions that can directly result in profits. As telematics solutions are designed to not only gather mass amounts of data but are created to also analyze the information to provide businesses with insights, managers are noted to be able to make better decisions. This stems from the fact that they have more information to weigh during the decision making process.
For example, when a fleet introduces telematics, they are able to better track the location of drivers and the times of arrivals. So depending on the nature of the business, managers can know exactly where their team is at all times and what tasks are completed in real-time. Meaning, when a last-minute delivery is required, dispatch teams can have accurate information about the current location of drivers so they can maximize productivity and efficiency by utilizing available drivers.
Increase in Safety
As mentioned previously, telematic solutions pull mass amounts of data. Of the data pulled, much of it can be used to create a safer work environment. Not only are managers able to use the data to ensure that their team is abiding by hours of service (HOS) compliance or other health and safety-focused regulations, but they are also able to better educate workers about possible workplace hazards.
For example, businesses that need to deploy their team into construction zones or fieldwork can use telematics to gather information about the location that their team is assigned to. The data can provide insight regarding road classes, routes and objects that employees should be aware of in order to act safely once they arrive. So if there are certain vehicle weight limitations for roads or possible flooding, employees can prepare.
How Does Safety and Productivity Translate Into Financial Gains?
For many businesses, it comes down to dollars and cents when deciding to adopt new technology. That’s why it’s also important to highlight that as telematics technology helps to push safety and efficiency forward, it translates into a positive ROI. This is because often when individuals are focusing on improving safety, they are less likely to be involved in an accident or costly incident as mentioned above. As well, when businesses are looking to boost productivity and efficiency with their team, they are able to better use their time.
With this being said, resellers must stay informed on the telematics industry as it can be a critical investment for businesses that are looking to grow.
How Can Resellers Offer Revenue Boosting Telematics Solutions?
For resellers, it’s critical for them to be able to have the right resources available so they can offer their customers the right solutions. When it comes to telematics and encouraging a positive return on investment, having a marketplace like ZenduONE that includes numerous solutions is crucial. ZenduONE will be a premier marketplace that allows resellers to not only provide ZenduIT solutions such as ZenduLearn and Custom Mapping & GIS Tools that customers can install themselves, but is completely customizable for their business. ZenduONE will provide a complete hands-off approach to offering solutions as the marketplace is designed to allow users to personally install solutions and watch training videos, while support is provided by ZenduIT.