By Angela Montacute, CEO of Digital Innk

Angela Montacute, CEO, Digital Innk

There is little doubt that fleet operators will ask their teams to do more with less over the coming year. The economic forecasts range from a recession to a stagnating economy hindered by inflation that will drive up the cost of doing business.

In this environment, it’s essential to explore how to deploy new technologies to operate more efficiently.

Digital transformation has many benefits, including better customer experiences, a more flexible business, improved employee morale, improved communication, greater transparency, and quicker decision-making. These are all critical factors in creating a more resilient business that is better placed to weather the storm.

In a time when staying competitive means adapting quickly to change, business process automation is a crucial part of the digital transformation equation. Technology is available to help teams operate more efficiently and allow them to focus on value-added tasks. However, manual processing can cause delays and is more susceptible to human error.

Now, more than ever, ineffective business processes have a direct financial impact on companies through productivity losses and additional costs.

There are obvious benefits to using technology to automate tasks ranging from managing in-life services to customer communication. For example, an automated authorisation tool will save time and money by improving the accuracy of repair estimation and finding the best quote in seconds. In addition, artificial intelligence (AI) has the potential to connect the industry in ways that it hasn’t been able to before.

Management teams can use real-time management information to make better decisions and avoid costly mistakes, the effect of which is amplified in a challenging market.

Beyond operational benefits, customers demand more self-service options. They are used to dealing with issues online, in real-time and at the touch of a button. Increasingly, consumers aren’t prepared to wait for a call centre to pick up the phone. Forbes reported that 84% of consumers are inclined to do business with organisations that offer self-service options.

There is no customer as profitable as the one you’ve already got. In the current climate, giving customers the seamless experience they crave is essential. The ability to book a service, replace a tyre or complete an end-of-term inspection themselves will vastly improve their experience.

A data-rich view of the customer that can be shared by a remote working team with digital tools that are built with collaboration in mind. Equally important is the ability to store data securely online, which helps manage the joint risks of compliance and cybersecurity.

Automation should not immediately be seen as a route to replacing team members. It frees people up to focus on the more challenging tasks and the problem areas that would benefit from more attention. It is a clear way to boost productivity.

The automotive retail sector has seen some high-profile cyber attacks in recent weeks, and the fleet sector is not immune to these issues. Moving operations to the cloud will boost security and help to avoid costly issues.

Large cloud providers such as Google Cloud Platform or Microsoft Azure invest significant sums in security, where matching this level would be impractical for any individual company. Furthermore, it is the provider’s job to keep the technology up to date and monitor any attacks. According to the government, the cost of cybercrime to the UK economy is a whopping £27 billion per year. It’s an issue that should be at the top of any company’s agenda.

Jeff Bezos, the founder of Amazon, famously said: “In today’s era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that’s it.”  

Digital transformation is a journey with no end point, and it’s never too late to start.