A leading global equipment rental company recognized that it lagged behind the competition in adopting digital strategies for operations and customer-facing services. Despite being an early adopter of sensors and the Internet of Things (IoT), the company suffered from performance impediments and revenue leaks due to inefficient data capture in the field. Lacking a clear approach to digital innovation and without the ability to derive insights from telemetry data, the company reached out to Cognizant, a long-term partner, to help achieve operational savings.
Cognizant created solutions to derive new value from the client’s IoT and logistics framework by capitalizing on its telematics infrastructure and leveraging data about vehicle maintenance status, operator behavior, geographic location and other performance aspects from sensors on its heavy equipment fleet. We created a mobile tool that leverages IoT data to improve efficiency. The tool automatically sends alerts to employees when the rental company’s equipment enters or leaves a site and provides GPS to pinpoint an asset’s exact location for swift pick up, thus saving time.
Using telematics data enables new capabilities in managing equipment availability and tracking utilization. This includes real-time monitoring of equipment asset status and indicating inefficiencies like idling, under-utilization and misuse. This rental company’s digital transformation and innovation continues to fuel change and grow its market share.
estimated decrease in revenue leakage
equipment assets included in the telematics framework
reduction in time spent for equipment tracking annually