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4 Ways To Get The Most From Your Vehicle Data

4 Ways To Get The Most From Your Vehicle Data

By Mike Bassi, Director of Partnerships |
11.17.2017

Business intelligence continues to grow in importance, lending a distinct advantage to firms that successfully integrate this information into their strategic decision-making processes. Data from business vehicle (BV) programs—including both employer-supplied fleet vehicle initiatives and mileage reimbursement policies—presents a new frontier for data-driven innovation. That’s why we created Equo Intel.

Our newest product, Equo® Intel enables companies to capture vehicle intelligence, analyze field activity, increase productivity, and gain actionable insights to enhance their decision making process. Here are four different applications for your vehicle data that Equo Intel helps you unlock:

  1. Sales Team Efficiency - Without the ability to simply hire more staff, organizations must make existing employees more efficient. Business vehicle program data introduces new cost management possibilities, along with the potential to address sources of inefficiency and high cost.
  2. Shared Services and Expense Allocation - By pairing employee-generated and BV program data, organizations can create more visibility into their shared service utilization, helping shared service teams better predict and plan for expenses in advance. This provides another way to detect potential problems before they happen, avoiding the high costs associated with repairs or slowdowns.
  3. Service Level Agreements (SLAs) and Contract Management - Service level agreements (SLAs) are a staple of most B2B contracts, but they are also notoriously difficult to monitor. Keeping track of BV program data, while not an outright solution, can help organizations more closely track and verify performance against contract agreements and historical data can even help restructure pricing.
  4. Future Applications of Business Vehicle Data - In time, organizations will undergo a transition to fully automated data collection. As BV program data collection becomes more sophisticated, these systems could replace many existing technologies. Technology will continue to evolve further to include predictive analytics to predict issues long before they happen.

Generating valuable business intelligence hinges on having accurate, relevant data to analyze. Business vehicle program data, which so many companies already have at their disposal, can be the ideal foundation to get started.

For more information, you can download our whitepaper "Four Unorthodox Uses For Vehicle Data"

 

 

About the Author

Mike has 20+ years of experience consulting, implementing and supporting professional solutions for Business vehicle reimbursement plans, Mobile Applications, and employee relocations. His long tenure at Runzheimer has made him a trusted expert both externally and internally.