According to the results of a survey released by ARI, a leading global fleet services provider, an overwhelming majority (86 percent) of fleet professionals said at least half of their fleet processes could be made more efficient through technology, but less than half (44 percent) said they will invest in new technologies in the coming year. This gap points to a need for technology implementation across the industry as a means of increasing efficiency and decreasing costs.
"Fleet managers need technology to compete in this ever-changing industry; however, the time commitment and expense is often too high for even large fleets to take on," said Steve Haindl, senior vice president and CIO at ARI. "Our advanced analytics technology eliminates those obstacles. We've already made an investment in this high-speed information processor, so our clients don't need to. Our clients can better harness the information already available to them without a major financial or time commitment."
Survey respondents were also asked specifically about the types of technologies they currently use. Of the options provided, not a single technology was used by more than half of those polled. Most surprisingly, only one in four (29 percent) are using advanced analytics to manage their fleet's data. Telematics and GPS tracking were the most widely used, with 46 percent saying they currently equip their vehicles with these tools. Other responses included mobile device applications (22 percent) and automated solutions for regulatory compliance (20 percent).
"It's easy to get overwhelmed with all of the technology options and simply opt out, but information is what gives fleets an advantage over the competition and the bottom line," said Haindl. "Don't let the data intimidate you; learn how to interpret it and uncover potential savings."
The survey was conducted at the NAFA Institute and Expo, and was completed by 147 fleet professionals. ARI also demonstrated the power of technology at the event with the unveiling of the latest upgrade to its ARI Analytics reporting package. Using in-memory technology through SAP HANA, ARI Analytics is capable of analyzing data 3600 times faster than any other reporting tool in the fleet industry today.