Research Verifies GPS Fleet Tracking Services Value
The Aberdeen Group, one of America’s most trusted names in business intelligence, has been researching the mobile service business market as to what are the external market conditions that are driving organizations with mobile workforces to adopt GPS Fleet Tracking technology as a means to increase profitability.
The information compiled here provides a synopsis of four recent Aberdeen Group studies. These findings present a compelling argument for the value of real-time, GPS fleet tracking in terms of being able to reduce key operating costs, improve on vehicle and operator performance and increase customer satisfaction.
Key facts from the Aberdeen Group studies:
A majority of leading service companies are using fleet management solutions to realize benefits such as a 12.2% increase in service profitability, 14.8% reduction in average travel time per job, 9.9% decrease in overtime pay and 27.9% increase in operator compliance.
• Firms have reduced overall operating expenses an average of $1,100 per vehicle per year.
• Since leveraging location intelligence, firms have seen a 13.2% reduction in fuel costs and a 13.4% reduction in overtime costs, on average.
• Customer demand for faster service call resolution along with increasing service-related costs are the leading factors driving field service
firms to implement GPS fleet tracking services.
• Firms using GPS fleet tracking services are outperforming their peers by 43% in terms of current workforce utilization.
• Firms using GPS fleet tracking services are two times as successful as all others in meeting service response windows.
Savings from reduction in operating costs alone justify ROI
57% of best-in-class companies reduced their operating costs per vehicle by an average of 10.4%. The survey revealed that the average operating costs per mile was 33 cents and the average miles driven per year were 33,243. Based on this information, the annual savings from reduction in operating costs alone can amount to $1,100 per vehicle.
The bottom line
Investing in GPS tracking is no longer a matter of “if ” for businesses with mobile workforces, but “when.” Aberdeen Group’s research confirms that in the face of economic and market-driven pressures to cut costs, service organizations are increasingly turning to GPS fleet tracking technologies to improve their vehicle tracking, routing, and maintenance management. These firms are recognizing the potential of these services not only to cut costs, but also to increase vehicle utilization rates, service delivery performance and customer satisfaction.
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