Industry Insights from Vertrax

So, you’ve decided you’re ready for a fleet management system, but where do you start in choosing a provider? While you’ll have plenty of general transportation management systems (TMS) to choose from, it’s essential to choose the one that best fits your business and industry needs.

The oil and gas industry is catching up with even the savviest startups. Top brands are adopting software to streamline their logistics and supply chain management processes. With this technological progression, transportation management systems continue to grow more and more popular. 

What is a transportation management system (TMS)? A TMS is a cloud-based technology solution that allows companies to manage all transportation activities of their fleet operations. This technology is designed to eliminate manual, paper-based processes and automate processes to run operations more efficiently.

There’s a good chance that you’ve heard of enterprise resource planning (ERP) software but are you aware of how it can transform your business? You may already know that it helps most businesses organize data across their departments, from accounting to risk management to supply chain operations. But did you know there is ERP software built specifically for the oil and gas industry? 

You already know managing a successful fleet operation requires much more than just tracking a fleet of assets.  In reality, fleet operations have many dependencies (i.e. drivers, schedules, deliveries, service, fuel costs)  which can be extremely difficult (some impossible) to manage with spreadsheets alone.  

As highlighted by the American Transportation Research Industry, the cost of trucking operations continue to rise in the United States. With this increasing cost comes the necessity to streamline your operations and increase efficiencies as much as possible.

The trucking industry is rapidly advancing in terms of the technology being developed and tested. With each new year comes new technology with claims that it will “revolutionize the industry.” However, many of these technologies haven’t been fully vetted and will inevitably be abandoned or rolled back to development for many years.

2019 was a spectacular year for Vertrax with the launch of 2 new products, as well as major improvements to our existing ones. With the year coming to a close, we thought we’d take the time to share our top blog posts from this year that highlight these launches and more.

Consider these your must-reads to set the stage for success in 2020!

The final deadline for complying with the ELD mandate is December 16th, 2019 — less than two months away. The mandate went into effect in December of 2017 and full enforcement began in April of 2018, so this is the final phase of implementation.

The mandate has already had a major impact on the industry, so we wanted to dive into the adoption rate of the technology as the deadline approaches, as well as uncover the impact it’s had on trucking fleets in terms of compliance, crashes, and driver behavior.

According to the World Economic Forum, “digital transformation in the Oil and Gas industry could unlock approximately $1.6 trillion of value for the industry, its customers, and wider society.”

While we’ve broken down the overall benefits of blockchain and its specific benefits for fleet management, there are still some challenges that need to be overcome in order for this technology to become standard in the industry.

Across the world, businesses in many industries are gaining interest in the latest cutting-edge technology: blockchain. Around 66% of global organizations have some level of interest in blockchain, with almost 10% currently experimenting with or deploying it.