A successful transportation business in today’s fast-paced and competitive climate requires the most efficient and cost-effective business processes. Advances in vehicle technology, including advanced driver-assistance systems (ADAS), telematics, GPS tracking systems, and dash-cam tech have revolutionized the way these businesses operate with the ability to lower vehicle risks and better maintain their fleets. Here are four ways in which advanced vehicle technology is improving transportation businesses.
1. Improved safety
One of a fleet’s greatest assets is its drivers. As such, the adoption of ADAS equipment with fleets and transportation businesses alike has proven quite effective in protecting these assets. According to the National Safety Council (NSC), automotive-related injuries account for the largest percentage of worker’s compensation costs. Many common commercial vehicle accidents can be greatly reduced thanks to key ADAS equipment including active emergency braking (AEB), blindspot monitoring (BSM), and lane keeping assistance, lowering costs for fleet companies. However, it’s still important that fleet management organizations ensure drivers don’t become too reliant on these safety features and are instructed on the ADAS functions, as discussed in this Automotive Fleet video.
2. Increased efficiency and savings
Businesses have greater visibility into their fleets with help from advanced telematics and GPS tracking systems, providing the ability to monitor vehicle location, fuel consumption, driver behavior, and real-time maintenance needs. Such insights allow fleets to optimize their routes, minimizing idle times and ensuring timely deliveries. The ability to receive predictive vehicle maintenance information, in addition to the OEM’s recommended service schedule, is also incredibly valuable, reducing vehicle downtimes from unexpected maintenance and repair, thus keeping drivers on the road. Greater efficiency results in savings as well as customer satisfaction.
3. Reduced insurance premiums
Lowering insurance premiums is yet another way for transportation/fleet businesses to save on operational costs. Advanced vehicle technologies such as ADAS and telematics w/GPS and dash cam tech can help reduce real-time accidents with improved safety features, and future accidents with analysis of driver behavior data and driver safety training. Fortunately, data analysis no longer needs to be a manual process with the help of AI and machine learning technologies. There is certainly a greater opportunity to lower insurance premiums when vehicle technology is leveraged to its full potential.
4. Enhanced data and analytics
Modern vehicles collect a wealth of rich data that can be leveraged in real time or stored for later analysis. This data gives transportation businesses greater insight into the performance and health of their fleet and their drivers which in turn can help maximize efficiencies while incentivizing safe driving habits. According to the GPS Insight 2022 Fleet Safety Report, the information provided by these advanced vehicle technologies takes the guesswork out of fleet optimization.
What does the future hold?
Advances in auto technology have been invaluable to the auto logistics industry, and these new developments will continue to evolve quickly to drive further operational efficiency. ADAS upgrades, telematics, AI, and other software and equipment improvements will radically transform how fleets are rolled out and managed. Fleet managers will need to keep pace with this shifting technological landscape, and ensure that data on their vehicles is tracked with comprehensive detail at the option level.