Selected by CIO Review as one of the Top 20 Most Promising Automotive Tech Solution Providers in 2014.
The answer is the Asset Management business. That’s because rental vehicles don’t always automatically return on time and in the condition they left. And there are three reasons why – which is where a telematics solution like Spireon’s new GoldStar CMS can benefit car rental companies in their asset management business.
REASON #1: When Vehicles Go Missing
Rental car companies cannot be reactive in their day-to-day or hour-to-hour routine. There’s just too many opportunities to have expensive surprises spring up – like a missing vehicle – which can throw an office or an area into an unscheduled and time-consuming exercise of finding the vehicle.
Today’s business model in any company, let alone rental car companies, can no longer afford the use of unnecessary and higher-costing human involvement when there’s software that can do the job. That’s where telematics comes in. With the GoldStar CMS telematics solution, there’s no such thing as a missing vehicle, because with its state-of-the-art GPS asset tracking, the vehicle can always be located – anytime, anywhere – and on any type of device, from a desktop computer, to a tablet or smartphone.
REASON #2: When a Customer Wants to Extend the Vehicle’s Rental Period
Let’s talk about the leading business differentiator today – customer service. Imagine the rental car customer who can simply notify their car rental company with a click or two on their smartphone to lengthen their rental period. That’s a very happy – and most likely returning – customer. That’s what telematics enables, as it connects vehicles to actionable information and prevents costly (and not very customer-friendly) overdue vehicles.
REASON #3: Recovering Stolen Vehicles
It happens. Rental car companies cannot help being a target for car thieves. But just having insurance coverage isn’t the best a business can do. The costs to recover a stolen vehicle can quickly cause financial damage that isn’t covered under insurance, especially when the whereabouts of the vehicle are unknown.
With GoldStar CMS, a rental car company could simple look at the real-time vehicle location marked on an interactive map. And the vehicle recovery automatically becomes faster and less expensive knowing the location. Plus, the GPS device in the stolen vehicle leaves a location history from the moment it’s driven off the rental lot, so even if the GPS device is disabled, the location can be predicted and picked up just as efficiently.
Telematics – it’s the other business rental car companies should be in to make sure they are efficient, customer friendly, and reducing the costs of managing their vehicle assets.
Vice President of Strategic Accounts