Verizon Wireless, a joint venture between Verizon Communications Inc. (VZ - Analyst Report) and Vodafone Group Plc. (VOD - Analyst Report) is set to roll out its Networkfleet management solutions on its network that will increase operational efficiency for its Enterprise customers.
Networkfleet is a fleet management solution that provides real time data through its wide variety of monitoring and management capabilities, thus allowing its customers to stay connected with its fleet. The advanced fleet management solution is a part of Hughes Telematics, a leader in the emerging connected services market, which Verizon acquired in July 2012.
Currently, one of the most important challenges for fleet operators is to enhance the fleet efficiency both in local region and across different countries. Combining with Hughes Telematics, VZ is initially implementing the Networkfleet solution to 18,000 different company vehicles, which will allow enterprise customers to manage their fleets better. The solution equips the vehicles with a GPS device and a web based solution that sends vital information to Networkfleet data centre over VZ’s secure wireless network.
The GPS device closely monitors the fleet assets and prevents any loss or spoilage. Additionally, the solution also offer fleet maps, road side assistance and vehicle maintenance, thereby providing timely service and reduce vehicle break downs.
The solution will be beneficial to a number of industries, particularly transportation, energy, utilities, healthcare, retail and distribution. The solution will enhance fleet productivity, thus enabling the enterprise customers to gain cost synergies.
We believe this enhanced fleet management solution will allow VZ to expand its space in the automotive and fleet telematics as well as machine-to-machine (M2M) service applications, thereby boosting the topline growth opportunity of the company’s enterprise business.
Verizon Communication, which currently carries a Zacks Rank #3 (Hold) operates in the US telecom market along with other carriers like AT&T Inc. (T - Analyst Report) and Sprint-Nextel Corp. (S - Analyst Report).