The biggest value offered by video telematics is the ability to see things you couldn’t in the past. It doesn’t matter if this is blind spots on the road or exact data and numbers; telematics provides visibility and insight into what is happening across your fleet. Just think about it – what could provide you with more visibility than cameras?
Today, more fleet managers than ever before use video telematics programs powered by solar energy to implement cameras into their vehicles. Most programs will record video, then send it to the fleet if the parameters (set by the fleet manager) have been met. This lets the manager review what happened, such as in a hard braking event.
With this information in hand, it is possible to save on accident-related litigation costs, which has proven extremely beneficial for fleet managers in Florida.
The Potential ROI of Modern Video Telematics
The technology sounds cool, but you may wonder – “how will this benefit me?”
The video footage recorded will usually provide exoneration from any wrongdoing in legal cases. This is, without a doubt, the most significant ROI offered.
In fact, according to one study, up to 70% of the fleets that used video-based safety programs had proof of who was at fault. This proof saved on litigation, downtime, and more, providing an unmatched ROI for the entire company.
In most situations where the video footage is needed, it is not just about proving the driver innocent and ensuring they are not financially responsible. It is also helpful in keeping drivers in their seats. Without video proof of what happened, accidents usually result in drivers being terminated.
Additional Benefits Offered by Video Telematics
You will see several other benefits offered by adopting video telematics, too. Some of these may be hard to see in the short term, but they go a long way in helping the fleet in the long term. You begin to establish a safety culture when you implement the use of video in your fleet. You can even discover some bad habits that your drivers have developed through the years of driving unmonitored, bring attention to these, and ensure they correct their actions. This can improve safety for the driver and protect productivity for the fleet.
For some users, the ROI will be seen in the longer term. It will help to reduce the frequency of incidents and help promote accident avoidance.
While this is true, some companies agree to be able to exonerate a driver from fault for just one non-preventable, catastrophic accident makes it worth the investment. It doesn’t’ matter what your fleet goals are; to promote a culture of safety or reduce accident costs, and you will see an ROI from the implementation and ongoing use of video telematics in your fleet.
This technology is also continuing to improve, which means you can invest in real-time tracking and monitoring for your fleet drivers, too. This helps you promote ongoing safety regardless of the situation or driver.
