Answering Industry Needs, Utilimarc Releases Rightsizing Solution for Fleets
Utilimarc, a leading data analytics organization specializing in commercial and government fleets, announces the release and performance of its Rightsizing Solution designed to help clients reduce vehicle and equipment expenses. With over 20 years of delivering analytical solutions to fleets, Utilimarc has evolved alongside the growing volume and sources of fleet data. The company’s latest solution builds on its foundation of data science engineering while leveraging machine learning to support fleets in optimizing operational costs, preparing for the adoption of alternative fuel vehicles and equipment and optimizing fleet resource utilization.
Utilimarc services most private and public utilities across North America, which are made up of some of the largest, most diverse fleets from an equipment and vehicle class-type perspective. The typical cost of a utility fleet truck ranges from $95,000 to $165,000 per vehicle. Therefore the ability to reduce, reassign and rightsize a utility fleet can amount to substantial capital savings.
Utilimarc’s Rightsizing Solution offers fleet operators the flexibility to determine their desired level of risk coverage. By analyzing a fleet’s most utilized day, the solution accurately determines the equipment required to meet demand effectively.
“Rightsizing is just the first step in fleet optimization – changing lifecycle, maintenance needs, operations and procurement. As operational practices evolve, so can the reporting,” said Chris Shaffer, CEO, Utilimarc.
Utilimarc’s Rightsizing solution seamlessly integrates with a range of key fleet technologies, including GPS/telematics, fuel and fleet management systems. Current integrations include Assetworks, Chevin, Fleetio, IBM Maximo, Faster, SAP, Geotab, Verizon, Samsara, Wex, FuelMaster and Chargepoint. Users can filter data by vehicle classification and time period, and drill into individual vehicle and equipment performance for enhanced insights
What can fleets expect to gain from Utilimarc’s Rightsizing Solution?
Fleets using the solution have achieved a return on investment through fleet reduction or through the reallocation of assets.
In a recent case study of a utility company, Utilimarc helped determine the optimal number of costly class-8 bucket trucks the fleet needed to operate effectively. By analyzing asset utilization in the field, downtime and maintenance data, the Rightsizing Solution revealed that the fleet needed only 80% of its bucket trucks to cover 95% of the demand. These insights helped the fleet avoid $1.7 million in capital expenditure and achieve an annual reduction in operating costs of $90,000.
In another use case, a Utilimarc Rightsizing client experienced an impressive return on investment. Through the analysis, it was discovered that 12 vehicles were completely unused on the fleet’s busiest day, with the unused assets valuing $2.76 million. Even after removing only 50% of the surplus vehicles, the fleet achieved $1.32 million reduction in capital expenditure.
Utilimarc’s Rightsizing Solution is set to revolutionize fleet optimization and cost reduction across the industry, empowering fleet managers to make data-driven decisions for improved efficiency and financial savings.
To see a live demonstration of Utilimarc’s Rightsizing Solution, click here to schedule an appointment with a fleet analyst.