Organisations or businesses, especially service providers, use KPIs to evaluate their progress and success at reaching their targets. Some of them are financial KPIs (Key Performance Indicators) and others are for performance tracking ones. They are based on measures and metrics derived by the management or experts. The KPI should help in understanding how well an employee, or business unit or a company is performing over a time span.
As for fleet management, the KPIs are important to gauge the performance or well-being of the service or business. It aims to also improve customer satisfaction or employee morale or other objectives. Vehicle rental businesses use KPIs to boost productivity and full utilization of vehicles. These indicators when integrated with GPS tracking technology can measure a number of parameters. It helps to measure the extent of utilization of a vehicle, the wear & tear occurring on engine, tyre, etc.; helps measuring driver behaviour and engagement; helps calculate idling time, time and distance travelled, speed limits, fuel consumption/efficiency and other factors. These KPIs can lead to predictive analysis, planning and forecast plans.
In the vehicle rental business utilization of vehicles to the maximum is key to boost productivity and profitability, besides contributing to customer satisfaction. When the system is managed via a versatile fleet management software like Trinetra’s FMS solution, which is web-enabled, provides foresight reports and alerts over specified time durations. The remote tracking and monitoring system incorporated can enable calculation of cost of operations, help optimal route planning, enable preventive maintenance or on-time service, scheduling and rescheduling delivery, provide notifications and reminders, manage driver utilization and work hours, enable geo-fencing and much more. The KPIs derived out of these parameters contribute to decision-making by management, cost reduction & savings, to optimal resource utilization and eventually for profitability and scalability of the business or project.
Trinetra is an agile, fast growing software development and services company, at work in the space for integration, IoT, mobility, cloud and data management. Learn more about our products and softwares, with integrated mobile app support, that can customised to meet a client’s business needs. Kindly visit Trinetra Wireless website for more information.