Element Fleet Management Introduces Connectivity Solutions Ecosystem and Launches Two New Telematics Products for Fleets
04 November 2021 - 1:30PM
Element Fleet Management Corp. (TSX: EFN) (“Element”), the largest
pure-play automotive fleet manager in the world, today announced
the launch of Element Connectivity Solutions, the most diverse
ecosystem of telematics products, services and strategic alliances
in the fleet management industry. As part of this ecosystem,
Element introduced two new products, QConnect and DriverCare
CoPilot, for fleet operators seeking OEM-embedded and mobile device
vehicle connectivity solutions.
Element has long partnered with the leading pure-play telematics
providers in the world, such as GEOTAB, to deliver fleet operators
full-suite telematics with comprehensive rules-management and data
collection. These continued partnerships and the introduction of
QConnect and DriverCare CoPilot solutions to Element’s expanding
Connectivity Solutions ecosystem further enable fleet operators to
choose connectivity solutions that truly meet their distinct data
and analytics needs — no matter their hardware requirements, cost
considerations or billing preferences.
“The decision to create QConnect and DriverCare CoPilot emerged
from discussions with clients and prospects seeking ‘best fit’
connectivity solutions that meet the unique needs of their fleets,”
David Madrigal, Executive Vice President and Chief Commercial
Officer at Element. “From full-service telematics to OEM connected
vehicle data to mobile app solutions, Element Connectivity
Solutions provide more accurate and real-time vehicle and driver
data empowering greater, deeper dive analysis that will take the
performance of fleets to a whole new level.”
QConnect
This fleet-focused streamlined solution delivers day-to-day
baseline fleet capabilities built on the Motorq Platform including
real-time location as needed, diagnostics, maintenance alerts, EV
health and basic driver behavior and policy compliance tools. It
extracts data directly from leading OEM connected vehicles and
distills this data into clear snapshots of vehicle and fleet
performance to improve driver and vehicle productivity. QConnect
provides accurate and real-time vehicle data empowering greater,
deeper holistic understanding of a client’s fleet health and
utilization. Element clients now have the option with QConnect to
link their various fleet connectivity solutions into a single
integrated view and advanced analytics module options designed for
fleet goals and objectives. QConnect is an ideal solution for fleet
managers looking to turn on data integration in their vehicles to
obtain standard data and analytics.
DriverCare CoPilot
This mobile telematics platform combines a smartphone
application for drivers and a web portal built on the Cambridge
Mobile Telematics platform with driving trend data available to
fleet and safety managers. DriverCare CoPilot reduces fleet risk
and related costs by enabling fleets to gain insight into fleet
risk with at-a-glance view of driving behavior on Cambridge’s web
portal and generating an overall behavioral score based on
distracted driving, speeding, harsh braking, hard acceleration and
harsh cornering. This is the ultimate solution for safety managers
looking to improve driver behavior using mobile phones and a
gamified experience.
To learn more about Element’s ecosystem of Connectivity
Solutions, visit
https://www.elementfleet.com/fleet-solutions/fleet-connectivity-solutions
About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest pure-play
automotive fleet manager in the world, providing the full range of
fleet services and solutions to a growing base of loyal,
world-class clients – corporates, governments and not-for-profits –
across North America, Australia and New Zealand. Element enjoys
proven resilient cash flow, a significant proportion of which is
returned to shareholders in the form of dividends and share
buybacks; a scalable operating platform that magnifies revenue
growth into earnings growth; and an evolving capital-lighter
business model that enhances return on equity. Element’s services
address every aspect of clients’ fleet requirements, from vehicle
acquisition and maintenance to accident recovery and remarketing.
Clients benefit from Element’s expertise as the largest fleet
solutions provider in its markets, offering unmatched economies of
scale and insight used to reduce fleet operating costs and improve
productivity and performance. For more information, visit
www.elementfleet.com.
Forward-Looking Statements
This press release includes forward-looking statements regarding
Element and its business. Such statements are based on the current
expectations and views of future events of Element’s management. In
some cases the forward-looking statements can be identified by
words or phrases such as “may”, “will”, “expect”, “plan”,
“anticipate”, “intend”, “potential”, “estimate”, “believe” or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements, including, among others,
statements regarding Element’s improvements to run-rate
profitability; enhancements to clients’ service experience and
service levels; enhancement of financial performance; improvements
to client retention trends; reduction of operating expenses;
increases in efficiency; Element's dividend policy and the payment
of future dividends; transformation of its core business; creation
of value for all stakeholders; expectations regarding syndication;
growth prospects and expected revenue growth; level of workforce
engagement; improvements to magnitude and quality of earnings;
executive hiring and retention; focus and discipline in investing;
balance sheet management and plans to reduce leverage ratios;
anticipated benefits of the balanced scorecard initiative;
Element’s proposed share purchases, including the number of common
shares to be repurchased, the timing thereof and TSX acceptance of
the NCIB and any renewal thereof; and expectations regarding
financial performance. No forward-looking statement can be
guaranteed. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause Element's
actual results, performance or achievements, or industry results,
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Such
risks and uncertainties include those regarding the ongoing
COVID-19 pandemic, risks regarding the fleet management and finance
industries, economic factors and many other factors beyond the
control of Element. A discussion of the material risks and
assumptions associated with this outlook can be found in Element's
annual MD&A, and Annual Information Form for the year ended
December 31, 2020, each of which has been filed on SEDAR and can be
accessed at www.sedar.com. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Element undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Contact:
Element Fleet Management
Natasha Boeck
Senior Manager, Media Relations
437-775-9153
nboeck@elementcorp.com
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