NYSE-listed Fleetmatics roars into pole position

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Dublin-based company serves 22,000 customers worldwide and manages 472,000 connections

Dublin-based Fleetmatics has been named as the global market leader in fleet telematics, by industry analysts ABI Research.

Telematics uses SIM-based GPRS connectivity to track a vehicle’s location and other data to allow fleet companies to analyse the data and improve performance. Key metrics include fuel efficiency, driver behaviour and the ability to track where loads are at any time.

The NYSE-listed, company, which is worth $1 billion (£600 million), was chosen due to its strong revenue growth and customer retention rates. It posted full-year revenues of $177.4 million for 2013, an increase of 39.2 per cent on its 2012 revenues of $127.5 million.It has announced revenues of $51.9 million for Q1 2014, an increase of 33 per cent from the same period in 2013. Fleetmatics serves 22,000 customers worldwide and manages around 472,000 connections.

It has relationships with all the major operators in the UK and hundreds of operators across the globe to provide satellite connectivity. In the UK, its customers include Virgin Media and British Gas.

“We’ve got a super product but what we’ve learned over the years is that it is how you manage your customers after the sales,” European sales director Derek Bryan told Mobile News. “Companies are striving to do more with less. If you look at the ways companies evolved during the economic boom, there was a lot of fat in there, things weren’t being measured as much. Now we have a sea change in the economic

climate and measurement is key. “With fuel efficiency, there is still a huge gap in how companies measure the efficiencies of fleets and how they look at things such as personal usage and driving style. The latter has the biggest impact on fuel efficiency and we can measure how vehicles are being driven in terms of harsh braking, acceleration and hard cornering. The technology is also being pushed downstream by insurance companies into the consumer market. Drivers are able to install a box that tracks their driving behaviour, with the data potentially resulting in reductions in premium.

 

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