Progress is impossible without change, and those who cannot change their minds cannot change anything.  – George Bernard Shaw

Machine to machine (M2M) technology has existed for decades. Today, we know it as the Internet of Things (IoT). Ten years from now, a new acronym will take its place. New business models will have emerged, with new value created for organizations managing assets. But all industries will look back at this era in awe. Because today we are at an intersection of innovation and affordability, which is producing a paradigm shift towards digital transformation.

The State of Fleet Technology Adoption

Many businesses, however, are still using outdated technology, or no technology at all. Why? What’s stopping more businesses from harnessing the power of the IoT for process automation?

Industry Pressures Driving Digital Transformation

In any case, operations executives are beginning to see that it’s too costly to hold on to traditional ideas and operating models. Government regulations are tightening hours of service to improve driver safety. Aging infrastructure and congested roads are driving growth for shipping ports and rail transport. The price of crude oil has been rising since January 2016. And the wide availability of technology is creating hyper-competitive markets across most industries. For better or worse, external factors are thrusting operations managers towards adopting the IoT.

IoT Solutions for Every Operational Challenge

Among the many dimensions of operations management—cutting costs, growing revenue, improving service—there isn’t one challenge that cannot be met by the IoT. Real-time data and analytics can perform better than you could have ever dreamed. And you’ll discover that the actionable intelligence you gain can be used in so many ways by so many stakeholders both inside and outside of your organization.

Challenge of Fleet and Asset Management

• Unplanned downtime
• Vehicle breakdowns
• Machine failure
• Forecasting total cost of ownership
• Rightsizing your vehicle fleet
• Driver behavior
• Asset loss and theft 
• Fuel costs and wasteful idling
• Meeting government regulations
• Asset lifecycle management
• Last-minute parts orders
• Unauthorized use of company vehicles
• Mitigating litigation risks 
• Route efficiency
• Efficient job scheduling
• Labor costs

Stay Competitive with Real-Time Asset Intelligence

Tens of thousands of companies have already started reaping the benefits of IoT-enabled fleet and asset tracking, with many more in the planning, pilot, or deployment stages. Soon, it will be impossible for asset-intensive companies to compete without the IoT. A word of caution: having an inadequate GPS tracking system is as bad as having no system at all.

Transform Customer Service Through Better Asset Management

The focus of your job should be on what matters most— customers. Almost instantly, real-time data and analytics will give you more time and resources to manage your assets more efficiently, and thus improve service delivery. On top of that, you’ll also generate valuable data for other areas of the business.

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