Connected vehicle technology will become the “successor product” to telematics for fleets over the next few years as it becomes more commercially viable, Epyx reckons.
The fleet e-commerce specialist said connected vehicle data offers key advantages over telematics, including the fact that information comes direct from the vehicle and avoids the need for a black box or other intermediary device to be fitted or carried, and added that it’s working on a potential system.
Debbie Fox, commercial director at Epyx, said: “Fleets have been promised the benefits of connected vehicle technology for many years now but bringing it to market in a commercially viable manner has proven difficult for a range of reasons. Now, this picture is rapidly changing.
“The three stumbling blocks have been the proportion of fleet cars and vans that can provide connected vehicle data, the cost of accessing it and the means to present that information to fleets in a format that makes it genuinely productive.”
All of these issues are close to being resolved and Epyx said connected vehicle penetration within the fleet parc is already high – it should represent the vast majority of vehicles by the middle of the decade.
“New ways of accessing the data at reasonable cost are now becoming available that make it much more affordable, at least comparable to the pricing of traditional telematics, bringing it within the reach of most fleets.
“Finally, providing fleets with connected vehicle data in a format that is meaningful and creates a range of cost, service and efficiency benefits is something that is very much our area of expertise, and we actively working with partners to bring a product to market.”
This includes work through Epyx’s parent company Fleetcor, and the product plans being examined include the ability to consolidate connected vehicle and telematics information in parallel.
It’s something that Epyx has been in dialogue with major leasing fleets, including talks on the variety of data that could be accessed through connected vehicles. Real-time mileage information has come out top of the list every time and, according to Epyx, provides a good example of how connected vehicles are an improvement over telematics.
“Generally, leasing fleets are only able to access a reading when service or maintenance work in undertaken but having a more regular figure would give them much better visibility over vehicle usage and costs, as well as reducing fraud. Because connected vehicles can deliver this data to the fleet without the need for a black box, it can be accessed easily at any time as long as an agreement is in place with the end-user.”
Epyx’s work on a potential product includes real-world trials examining a whole series of data points, ranging from GPS and odometer readings to warning lights triggered and driver behaviour.
“We believe there is huge potential for connected vehicle fleet products, so this is an exciting moment,” finished Fox.
