Why Businesses Need GPS Tracking Services
NEW YORK ( MainStreet) -- Provider Enterprises has an important job to do. Through their 250-vehicle fleet of buses, the company is charged with the safe transportation of special-needs students to and from schools throughout New Hampshire. It serves more than 1,700 children daily.
The company is roughly 25 years old, but in 2008, it decided to implement GPS-based fleet tracking technology -- at first to monitor the location of its fleet for routing and quality-control purposes, it says. Provider soon realized the benefits of having the technology at their disposal, though, including cost savings in fuel and labor and improved bus driver routing, student safety and carbon footprint reduction, it says.
|With gas prices through the roof, incorporating GPS can lower fuel costs and improve efficiency.|
In its first year alone, it saved $50,000 in fuel expenses.
With the national average for regular unleaded gas hovering around $3.74, according to AAA, prices at the pump are painful at best. For small businesses with delivery trucks, fleets, transport equipment and supplies, it's very likely fuel costs are eating into profit. With gas prices expected to go over $5 a gallon this summer, getting that fuel dependency under control could make or break a business.Mike Henn, CFO of Navman Wireless, shared how using GPS tracking services helps businesses control costs, increase cash flow, improve customer service and help employees do their jobs more efficiently through its so-called fleet and mobile asset intelligence. What does Navman Wireless offer small businesses? Henn: Navman Wireless helps businesses reduce the operating costs of their vehicle fleets with GPS-based fleet tracking technology. By combining GPS tracking units installed in each vehicle with back-end software that analyzes the data, Navman Wireless' fleet tracking system helps businesses reduce fuel consumption and other waste, improve dispatch and routing efficiencies by seeing where all vehicles are in real time, optimize vehicle maintenance schedules and identify problems, such as unauthorized vehicle use. Customers typically reduce fuel usage by 10% or more versus those who don't use the technology. What types of businesses or industries would benefit best from these products? Can someone who has, say, two delivery trucks use this technology efficiently? Henn: Any business that has vehicles on the road -- or off -- can benefit from using fleet tracking, whether service, delivery or even construction equipment. Navman Wireless' customers range from pest control services, marine parts distributors and specialty cleaning companies to waste haulers, school transportation services and commercial trucking firms. Fleets can be as small as three and as large as tens of thousands. Do small businesses know this service is available to them? Henn: There are 20 million commercial vehicles in the U.S. and only 2 million of those vehicles use fleet tracking technology, according to industry reports. In the case of Navman Wireless specifically, the company tracks 140,000 vehicles with 14,000 customers globally. That's a gain of 80,000 vehicles in five years, so our market share is growing rapidly as more people become aware of the benefits and as smaller competitors disappear.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV