The ROI of telematics for renting companies

Large multinational car rental companies have recognised the value of a connected fleet in recent years. 

The cost-saving and revenue-generating solutions offered by telematics can work for all rental companies, regardless of size.The value proposition of telematics has an impact on the business itself. Data such as odometer readings, vehicle location and fuel metering are essential for rental fleet operators to optimise their operations and increase profits.

Vehicle location or GPS: 

Vehicle location allows operators to track the whereabouts of each vehicle and assign them to customers based on proximity and availability, saving time and fuel. GPS enables geo-fencing, a feature that allows operators to set boundaries for each vehicle and receive alerts when it enters or leaves a pre-defined area, preventing unauthorised use or theft. In addition, Geotab's stolen vehicle recovery solution is a service that helps operators locate and recover a stolen vehicle, minimising losses and insurance claims.

ROI: €2 - €94 per vehicle per month

Fuel used by the customer: 

Accurate fuel levels help operators charge customers for the exact amount of fuel used for final billing and avoid fraud, improving customer confidence.

ROI: €7 per vehicle per month

Usage and maintenance data: 

Odometer reading allows operators to monitor the mileage of each vehicle and schedule necessary maintenance and repairs, reducing breakdowns and improving customer satisfaction. It also allows the operator to avoid excessive mileage that could affect overall resale value. In addition, real-time notification of engine fault codes helps manage repairs with remote diagnostic reporting.

ROI: €3 per vehicle per month

Collision detection: 

Collision detection is a function that detects and reports a collision involving a vehicle, allowing companies to respond quickly and assist the customer. It can also inform the operator of minor damage that may have gone unnoticed, but has an impact on the value of the vehicle.

ROI: €23 per vehicle per month

The benefits of telematics far outweigh the cost of the service for any rental operator, and are affordable and scaleable for any size fleet. Geotab's solutions can help companies improve efficiency, safety, customer service and profitability.