One hundred thousand connections and counting: Connected vehicle data technology.
As we said goodbye to 2019 Collision Management Systems achieved two key milestones.
The first was passing one hundred thousand connections to our award-winning connected vehicle data aggregation SaaS platform.
The second, through our network of global telematics vendors, CMS can now access over half of all the commercial vehicles in the UK and Americas, that have telematics installed (subject to the consent of the customer, of course).
Why has Collision Management Systems seen such success from working with connected vehicle technology?
The growth in data sources from commercial connected vehicle technologies, while providing more information than ever before, is adding to fleet management problems.
As the sheer amount of data drowns out the value of the clear insight it is designed to deliver.
Telematics and other connected vehicle technology data is creating a form of analysis paralysis in many fleet management teams that use it.
Leading to the full potential value that it can deliver, not being realised.
CMS’ success has been in providing an answer to this situation.
Our SaaS platform, aggregates data from a huge and growing range of connected vehicle and telematics devices.
References, standardises and normalises it, to provide clear actionable information, insight and alerts.
For those customers who manage the more than one hundred thousand connections to Collision Management Systems platform, this has been a step change in how they are alerted to, informed about and manage their fleets of connected vehicles.
What additional value is CMS adding to fleet risk management?
While the improved management of the connected vehicle data is important for fleet management efficiency, that isn’t where the value that CMS adds, ends.
At its heart, Collision Management Systems is a data aggregation company. Able to take data from a huge range of sources, combine it and provide benchmarked insight.
This means data from sources other than the connected vehicle fleet can be combined with the standardised and normalised data from the connected vehicle fleet.
Giving a full 360 degree view of drivers, remote workers, their teams, their divisions, and the whole organisation’s drivers and remote workers.
For example, training records, annual performance reviews, driving offences (e.g. parking and speeding tickets), can be combined with the drivers on-road, in the connected vehicle, data to give the full 360-degree view.
With this information and insight, Collision Management Systems is giving customers the power to transform their duty of care and risk management programmes for drivers & remote workers, and with this better manage their overall risk profile.
How is this enhanced fleet risk management insight being used?
With this insight (literally) at their fingertips, CMS’ customers, such as Fleet Managers, are able to readily answer and manage these four key questions.
How is my organisation’s risk profile changing?
What behaviours are causing this change?
Which employees or drivers are the biggest contributors to my risk profile?
What incidents are occurring right now that need a response?
With these answers they have actionable insight for their fleet risk management programmes, and the associated brand/company reputation guardianship.
Who has benefited from CMS’s 360-degree fleet risk management insight?
While understandable commercial confidences prevent us from naming the customers which make up the one hundred thousand connections, this anonymised real-life account captures the benefits one of them has realised.
An organisation with increasing operational and insurance costs, worked with Collision Management Systems to address its connected vehicle technology issues and improve its overall fleet risk management programme.
The organisation had many siloed data sources. A highly visible brand to protect. Pressure from rapid expansion, and was struggling with a lack of scalable risk and data management processes.
CMS’ solution delivered a combined and structured data set using more than ten complex data sources (e.g. telematics, other connected vehicle technologies, non-vehicle and other data). Covering fifty classes of data. A user interface to deliver the data that integrated with the organisation’s risk management processes. And a capability to view in one place all time critical fleet, driver risk and vehicle incidents, in real time.
Benefits from this engagement were identified just twelve weeks after the project’s inception. They have continued to grow over time, and the project is now credited with a 400% ROI. Based on better safety & driver risk management, a 40% increase in driver training productivity. A 17% reduction in near miss and collision frequency, and an average £1,000 reduction in incident costs.
One hundred thousand connections. Where does Collision Management Systems go next?
Our CEO, Charles Smith, said after we passed the one hundred thousand connections milestone, in 2019,
“The last eighteen months have been fantastic for CMS.
Building on our existing momentum and investing in our software, services and people to deliver accurate data and stand-out customer service to our growing client base”.
“We’re delighted to have comfortably passed the significant milestone of 100,000 connected vehicles. And integrations completed with over 50 telematics brands.
All of which is testament to the hard work of a great team.
On the current trajectory, we should pass 250,000 connections before the end of the year (2020)”.