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Add-vantage: How IoT is shaping business Growth

02 Feb 2017   |   Articles
Add-vantage: How IoT is shaping business Growth
Data analytics made easy for better cost management and productivity boost

In today’s digital world, Internet of Things (IoT) has become a staple in all spheres of business, especially in the automotive industry. With the help of smart technologies, IoT enables your vehicles and high-value assets to communicate remotely in near real-time and provide crucial data that gives insight into fleet operations and areas of improvement. There are various factors that affect the efficiency and potency of your daily practices and, if spruced up, can put you ahead of the competition. With all the information at hand, you can pave the path to business success.

How does it work?

In essence, IoT is what makes our smartphones and smart cars ‘smart’. It combines sophisticated technologies and analytics that simplify tasks, automate administration, provide tailored reports, remove roadblocks and complexities, and, best of all, give complete visibility to data that is otherwise hidden. Leveraging this data can bring economies of scale and a higher turnaround with the same amount of resources. From one single interface, you can dispatch your crew, optimise routeing, remotely assign tasks without calling in, and monitor your in-field activity at any point in time.

IoT works through sensor-to-machine communication, where embedded hardware, software and cloud computing are pieced together in one platform to provide you with real-time data and its analysis for all vehicles in your fleet. With wireless connectivity, the installed devices act as a single unit for GPS tracking, intercom, smart route planning, maintenance alerts, crash notifications, performance reports, and file sharing. All information is stored in cloud for up to 6 months, available retroactively in cases such as insurance claims or project reviews.

What is the benefit?

Did you know that speeding impacts your fuel economy by 10%?  By simply being able to regulate factors, such as excessive idling and speeding can cut down your fuel costs by 30%. With automated maintenance alerts that monitor mileage and brakes/engine activity, you can keep your vehicles in top condition and avoid unforeseen repair costs. Dispatching your mobile workers becomes as easy as one, two, three: locate the closest driver to the job on your screen, send activity specifications to the driver, and get automatically notified once the job is completed. Best of all, with complete automation, IoT solutions allow for unprecedented flexibility as you capacity changes and agendas are modified. You can easily reorganise your fleet operations according to the new guidelines and not brake the bank.

As these technologies become more affordable and accessible, they deem to be the standard for any company with a fleet and mobile resources in the nearest future. However, implementing IoT solutions early on and enabling your staff to operate quickly and efficiently even in complex situations will give you a significant competitive advantage in the market, enhancing organisation, delivery and customer service.