4. Set Distinct Goals
When setting ROI goals, you do not want to make them too broad. The goals can either focus on long or short-term benefits (ex: reducing miles driven, improving routing, optimizing driver productivity). Once you outline your goals, you want to focus on measuring and improving them one at a time. Take your time and try to understand the problems stopping you from achieving that goal. No one can resolve everything at once, so rally around one particular area.
5. Gather & Keep Your Findings
Once you arrive at this step, display your metrics and goals in a way that clearly outlines how you can get an ROI. A telematics solution, such as AssetWorks Field Service Solutions (FSS), can automate this process using real-time data. AssetWorks’ GPS Telematics tracks driver location and behavior, vehicle health, and odometer readings- in real-time.
Document not only how you achieved your ROI goal but also how to maintain it: How and when was the data collected, when will it be reviewed again, and what will you do if you later under or over-perform?
Once the ROI is documented, do not tuck it away. Be sure to keep it on-hand and up-to-date for any company training or meetings. Communication and transparency are a great way to share knowledge with your team and keep your fleet operating efficiently and safely long term.
6. Continue Improving
Once you identify your ROI of telematics, determine other ways you can further improve. Creating an ROI improvement loop helps maintain a competitive edge in your fleet. New challenges constantly arise within a business, so having an ROI focus can help you stay ahead and continue to grow.
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