You might not know the term, but you know the technology: The Internet of Things (IoT) is the use of technology to connect the things you use every day in a “smart” way—so that you can monitor, control and collect the information you need. Home hubs like Amazon’s Echo and Apple’s HomeKit are great examples of IoT devices you probably interact with regularly.

What does this mean for fleet managers? IoT helps fleet managers to access real-time data, locate vehicles, reduce operational costs, and enhance the overall performance of their fleets. The implementation of IoT Fleet Management can revolutionize the way you run your business.

1. Real-time tracking and monitoring

IoT fleet management provides real-time data on the location, speed, and fuel consumption of every vehicle in your fleet. With that aggregated information, you can monitor fuel usage, route efficiency, potential fraudulent activity—any number of factors that can change the math for your business day-to-day. You can make decisions in real time, instead of waiting for time-consuming reports weeks or months later. Real-time tracking can also help improve field service and response times to customer needs.

2. Maintenance and repairs

IoT technology can predict when a vehicle is about to break down, reducing the need for reactive maintenance. Predictive maintenance helps prevent costly repairs, maximizes vehicle uptime, and reduces repair time. The continuous monitoring of vehicles’ systems and metrics means you can schedule and perform necessary maintenance and repairs on time, preventing breakdowns and accidents and avoiding costly vehicle downtime.

3. Cost-Effective Operations

IoT fleet management helps businesses save on everything from fuel to vehicle wear and tear to insurance premiums. IoT sensors can leverage loads and streamline dispatching procedures—reducing fuel consumption and saving time. One GPS Trackit customer used this type of information to reorganize routes so that he could visit the same number of accounts using 20 percent less fuel. IoT fleet management tools can also detect fuel theft, monitor tire pressure, and track when to replace or recycle old vehicles, helping businesses save costs further.

4. Improved Safety and Compliance

Using IoT fleet management tools like GPS Trackit, fleet managers can track driver behavior, speed, and acceleration trends. This information can be used to reinforce safe driving habits through training and education. IoT fleet management also helps businesses more efficiently comply with various state and national regulations— which enhances road safety, reduces risks, and helps businesses avoid hefty fines and penalties.

5. Increased Customer Satisfaction

Improved fleet performance means increased customer satisfaction. IoT Fleet Management enhances dispatch and scheduling, making for timely and predictable service—which can help businesses retain customers and garner a good reputation in the market. With real-time information on fleet tracking and vehicle statuses, businesses can respond promptly to customer needs, reducing complaints and increasing customer satisfaction.

Want to learn more about how IoT fleet management can streamline your operations and save you money? Talk to an experienced Fleed Advisor today for a free, customized demo.