Mastering the Art of the Possible

The recent NAFA Institute & Expo 2024 provided a glimpse into the world of fleet management and the hurdles faced by industry professionals. In today's landscape, fleet managers navigate terrain marked by surging costs, sustainability requirements, and a pressing driver shortage.

Let's take a closer look at the numbers: A survey conducted by Geotab and Bobit Research Group revealed that 87% of fleet professionals anticipate an uptick in costs—a trend that warrants attention. Equally significant is the finding that 42% of fleet professionals foresee an increasing demand for sustainability initiatives to retain their customers, signaling a shift in industry expectations. Moreover, North America is experiencing a significant driver shortage; more than 80,000 drivers are needed to compensate. 

Faced with these challenges, fleet managers are doubling down on efforts to identify cost-saving measures, embrace sustainability practices, and retain their valued drivers. When we asked Geotab's partners how they are supporting customers in addressing these challenges, members of Geotab's Marketplace highlighted innovation.

Voices from the Geotab Marketplace:

Members of the Geotab Marketplace spotlight how innovation isn't just about keeping pace—it's about setting the pace. Here’s what they have to say:

• Fleetio: We want fleets to have a robust tech stack, and we help them achieve it. We work closely with our customers to develop our product and talk with them constantly to better understand their problems and needs so that we can build solutions that solve them—Daniel Simpson, Product Marketing Manager.
• Impac: What we want people to understand about Impac is that when we design or create something, it is not based on a whim and it is not to capture the next trend. Our innovation is grounded. Innovation is about knowing where the rubber meets the road and then making sure that your current suite of solutions will reliably serve the needs of customers. -Andrew Maly, Process Improvement Manager.
• Car IQ: Because we're fully digital, we are well-positioned for rapid innovation. Recently, we introduced low-cost fueling controls, responding to fleet concerns about fuel costs. By leveraging our app-based platform, we swiftly provided fleets with the option to filter out the most costly fuel stations so drivers would visit more cost-effective stations. I know the term digital can get overused, but the fact that we are a completely software-based platform allows us to address customers' needs quickly. -Arun Yadav, Chief Product Officer
• WideSense: While it might sound lofty, the innovation cycle is kept going by a desire to solve a bigger problem. Innovation thrives at the intersection of commercially critical problems and the innovative minds who address these issues with clever, effective solutions. - Heikki Lane, VP of Product, Marketing, and Strategy
• Lytx: When it comes to innovation, we are always looking for things that will add value to the customer, and to do this, we need to understand their needs. At Lytx, we are focused on safety, but what fleets need when it comes to safety varies by market, and we bring new solutions and features to our customers that address market-specific needs. - Robert Donahue, Director, Indirect Business
• Move EV: Our focus is on electric vehicle (EV) fleet home charging reimbursement. We invented the accurate receipt for charging any work vehicle, at any home, with any charger. To scale EV adoption, innovation and collaboration are critical. The Geotab Marketplace is a great way to spread innovative, sustainable fleet solutions globally. We are proud to be a Marketplace Partner and a member of the Geotab Sustainability Alliance. - David Lewis, CEO and Founder
• Predictive Coach: We provide innovative solutions that keep drivers safe. Fleet managers wear many hats, and while safety is a key concern for any fleet manager, traditional driver training methods can often be neglected due to their demanding roles. We are transforming these outdated and time-consuming practices into scalable, attainable and highly effective solutions. Our approach swaps lengthy and generic training with targeted and behavior-specific training that has proven to enhance fleet safety significantly. - Mauricio Berber, President

Conclusion 

The NAFA Institute & Expo 2024 illuminated the multifaceted challenges facing fleet managers today: rising costs, sustainability imperatives, and a significant driver shortage. However, within these challenges lies an opportunity for innovation. Geotab and its ecosystem of partners are at the forefront of developing tailored solutions to address the evolving needs of fleet managers.

These companies drive continuous innovation in the industry by prioritizing customer needs, embracing technology, and fostering collaboration. As fleet managers strive to navigate these challenges, the partnership between technology providers and industry professionals will be instrumental in shaping a more efficient, sustainable, and successful future for fleet management.