Quick Transport Solutions Inc.

Trucking Companies Survive by Adapting New Technologies

By the time you read this, it will be 2021 and we will all be looking behind at what some of us likely consider one of the worst years of the 21st century. 2020 was the year of COVID-19, economic meltdowns, political turmoil both at home and abroad, and many other crises. And in the trucking and transportation sector, COVID-19 has caused fleets across industries and sizes to either adapt or die.

It has been a dire situation. Fortunately, the industry has risen to the occasion, and they have done so with the help of new technologies. There is a reason we spend a lot of time talking about technology. Here at the QuickTSI blog, we feel like technology has and will continue to change the face of the trucking industry.

Whether foisted upon the industry through something like an ELD mandate or evolved out of a need for more efficient fuel economy, vendors are producing technologies designed to enhance how truck drivers do their jobs and trucking companies get loads from one place to another. Even more, COVID-19 has not slowed the technological transition. If anything, it has accelerated it.

Trucking and Technology in a New Age

From telematics to land assist and so much more; sensors in the cabs and video screens on trailers. From production to marketing – technology has changed the game in trucking. Beyond the standard benefits you might expect things like fleet tracking technologies helped businesses address the year’s unique challenges.

The challenges have been numerous and unexpected. Trucking Companies have had to deal with measures such as social distancing, home garaging, coordinating scheduling and dispatch from remote locations, and pivoting to remain efficient in the face of a scheduling and operations playbook torn to pieces in the face of a global pandemic.

Consider that a majority of fleets reported during a recent study to have experienced returns on technological investments even if their bottom line was impacted by the pandemic. And virtually any fleet manager you talk to will tell you that investing in a GPS solution pays itself off in the long run.

Telematics have become widely adopted. As truck OEMS produce vehicles designed to be “connected,” fleet managers have more options than ever before to gather actionable data on how they can make their fleets safer and more efficient. Another technology that has seen quick adoption and will continue to see more in 2021 includes video technologies.

The Rise of Video

Video has come a long way. We are dealing with seriously complex algorithms that can analyze video in real-time. AI-backed video telematics with driver-facing and road-facing cameras is reshaping safety and efficiency for motor carriers across North America. Fleets every day use smart video as an unbiased witness, an incomparable driver training tool and a veritable infinite pool of usable data points.

What are some goals that trucking companies meet using video technology? Consider the following:

  • Improved truck driver safety
  • Reduced false claims
  • Reduced accident costs
  • Reduced insurance costs
  • Decreased litigation exposure

When you have a video camera somewhere in or around your fleet vehicles, you know what is always going on. Truck drivers understand that this is as much to protect them as is to protect the fleet’s interests.

Some problems fleets run into include costs and adoption. Still, there are many partners and vendors out there with an array of capabilities. It should not be difficult to find a solution that works for your fleet and the type of freight you run.

Technology Saves Money

Just ask any business owner and they will tell you. Trucking companies routinely say that costs are one of their biggest business challenges, followed by lack of quality technicians, and customer demands. How have fleets utilized technology to address these concerns? Well, users of fleet tracking technology have shown remarkable benefits in dealing with just these issues.

Across all industries and segments, fleets that use GPS tracking along with fleet management software and route optimization decreased fuel costs by an average of 8% – 10%. The same motor carriers also saw an average decrease of 11% in accident costs, and a decrease in overall labor costs of 10%. These are fairly large numbers when you look at the types of costs trucking companies must deal with.

In the transportation industry, other benefits that can be gained from technological adoptions include:

  • Improved productivity
  • Better customer service
  • Improved routing
  • Timely vehicle maintenance
  • Reduction in labor cost

In the end, technology helps a fleet become better, but it cannot do everything on its own. To make it in this kind of environment, carriers must do what it takes to survive.

Stay Competitive with Technology

Technology does more than save money, it gives fleets a competitive edge. Many of today’s fleet managers, no matter the industry, would say said GPS fleet tracking, fleet management systems, integrated sensors, video, and other advanced technologies have all had a beneficial impact on their fleet operations.

Within the transportation industry overall, trucking companies currently using a GPS fleet tracking solution realized improved customer service and decreased costs. Technologies around preventative maintenance help motor carriers ensure their valuable assets remain in good working condition and deliver profits for the fleet.

In the current environment, businesses are finding it crucial to focus on customer service and support, as well as the quality of a product or service they offer. Rising customer expectations and the growing influence of online reviews, increased technical complexity and a competitive landscape can put pressure on even the best-run companies. Fleets that want to survive must step up and match what their competitors do, especially where investments into new technologies are concerned.

The Bottom Line

What is one to make of all this technological change? Many trucking companies remain averse to change, but during times like these, transportation companies both large and small must adapt to survive. Business conditions change on a dime, and this is truer than it has ever been before.

Building a resilient business is more important now than ever before. If you are using fleet management systems with integrated ELDs, make sure you utilize the data points you generate to make long-term purposeful decisions that will help your fleet not just survive, but thrive, in the complex business environment we find ourselves in today, or any other emergency in the future.

The most important thing is that things like route optimization and fleet tracking technology goes beyond just dots on a map. These kinds of technologies give fleet managers much-needed visibility into truck driver behaviors, fleet costs and vehicle wear and tear. With dashboards and customizable reports, you can check the pulse of your business at any point in time.

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