There are many benefits to raising your fleet’s visibility within your own organization. The sales team may know what equipment is available and the service crew knows the condition of the equipment. However, what do other parts of your company know about your fleet and why is it important?
When your entire organization has access to information about the rental fleet, your operations can become more efficient. Every department may have its own system, such as inventory management or billing. Yet, by sharing your equipment’s telematics data, or integrating your systems, staff will get a 360˚ view of your assets.
Telematics GPS devices are well known for their locating capabilities, such as “where is backhoe 123”. While a bit basic these days, this information can be especially useful when a manufacturer repair or recall notice goes out. You can pull a report from your GPS system, such as FleetOutlook™, to check engine numbers then find them on the map. If it is an urgent situation, you can pull the equipment back in or simply schedule the maintenance as contracts end. After the repair is completed, finance can access your inventory management system for the updated information. As a result, the entire recall process is streamlined.
One benefit of telematics is the ability to schedule regular maintenance and reduce downtime from unexpected repairs. This is part of managing the overall lifecycle of your equipment by keeping it in rental-ready condition. Well maintained and documented equipment also allows your dealership to stay within manufacturer warranty requirements.
A well-organized system of shared information also provides information as needed for audits, both internal and external. Tax records also benefit, as all required information becomes readily available. The beginning of the calendar year is also the time to do inventory checks. Telematics data integrated with an inventory or rental management system can simplify the process of pulling the necessary records. Accounting and finance will appreciate being able to see equipment totals by type or class, age, engine hours and more for deductions, depreciation and other calculations.
Maintaining accurate fleet records also helps with damage and liability claims. You likely perform a visual inspection when a piece of equipment is returned to the yard. The service team may even do a quick diagnostics test. Yet, your telematics data can supplement this information with data on equipment use, including speeding, hard braking, idle times, workday start/end times, days of use and more. Circumstances which can affect equipment condition are not always visible to the naked eye nor the onboard diagnostic (OBD) system.
Finally, telematics data can also help your dealership manage additional revenue options. A few examples are below:
• Fuel payment – The fuel usage information can make it easier to determine the correct charge, minimize the chance of disputes and help budget fuel costs
• Theft protection – Use the locate function and alerts (ignition after hours, geofences and towing), plus, for recovery, consider adding the LoJack Stolen Vehicle Recovery* System
• Transportation / delivery surcharges – Get notifications for arrivals and departures or reduce disputes by pulling a detailed breadcrumb report
As you can see, providing your organization with a complete view of your rental fleet is very beneficial. It is more than just knowing what is available or where a piece of equipment is. The uses discussed are about helping your dealership manage costs, liability, compliance and safety. If you would like more information, meet with CalAmp staff at The Rental Show on February 26-March 1st in Orlando at booth #4839; and ConExpo-Con/AGG on March 7-11th in Las Vegas at booth #S64507. And read more about CalAmp’s FleetOutlook here.
*LoJack® System utilizes Radio Frequency technology. LoJack Unit activation is contingent upon the vehicle or equipment being located within LoJack’s coverage area that spans counties across 29 states throughout the U.S. and the District of Columbia. You may find LoJack’s coverage areas at www.lojack.com/coverage or by calling 1-800-4-LoJack