Fleet operators desperate for end-to-end tracking and management, as 46% say they use at least 10 tools to manage operations
Survey finds that 44% of managers in a US survey lose track of vehicles at least monthly and use a host of tools to manage fleets, leading to 80% looking for end-to-end management solutions
Fleet operators are struggling to manage their fleets and are in dire need of better, more streamlined management systems says a new survey.
According to the study, which surveyed 1,000 US executives handling commercial fleets for their companies, the majority of are weighed down by multiple systems that are inadequate for tracking and managing modern vehicle fleets. The survey found that 46% of leaders use ten or more tools to manage their operations, while a further 30% say that the number of systems they use are ‘too many to count’.
This web of software programs leaves huge gaps in visibility, as 44% lose track of vehicles at least once a month, leading to 58% feeling that they are behind the curve and spending most of their time being reactive to situations versus proactively managing their workers, fleet, spend, or assets and equipment.
Technology, especially Artificial Intelligence (AI), is recognised as a pivotal solution. While 80% want a single, end-to-end solution to seamlessly manage physical operations, 43% think that AI will improve tracking assets and vehicles, making it the most valuable use case for the technology.
Other benefits of AI are expected to come from detecting fraud (38%), more accurate decision-making (40%), improved expense planning (39%) and reducing administrative work (39%).
The study indicates that 69% of physical operations leaders expect AI to positively impact their jobs, with a third foreseeing AI addressing labour shortages. Another major benefit is through enhanced safety, as 73% of leaders think that roads are safer with AI-enabled cameras and 64% highlighted AI's significance in preventing accidents and coaching drivers.
The advantages of improved technology stacks to enhance operations, is why updated technology and software (33%) is viewed as the top opportunities for physical operations over the next 12 months.
"The need for transformation is evident, with limited visibility and data silos hampering profitability and heightening safety risks,” commented Shoaib Makani, co-founder and CEO of Motive. “Leaders recognize technology, particularly AI, as a game-changer for automating proactive decisions, improving visibility, and enhancing safety, effectively addressing industry challenges and presenting opportunities across this critical sector of our economy."
Overall, the top concerns were rising costs (59%), economic instability (51%), labour shortages (45%), supply chain disruptions (42%) and operational inefficiencies (36%).
Despite these challenges however, leaders are cautiously optimistic, with 50% expecting economic improvement in the next 12 months.