Teletrac Navman Finds Rising Equipment Maintenance Costs are Largest Expense for Construction Companies

Irvine, CA; January 23, 2024 – Teletrac Navman, the global leader in connected mobility solutions, will showcase its TN360 ACM (Asset Construction Management) platform at the upcoming World of Concrete event in Las Vegas on January 23-25, 2024. The company also released data from its upcoming TS24 survey which found that equipment vehicle maintenance is the largest expense impacting construction companies in 2024 (49%), even outweighing the cost of new equipment (43%) and fuel (42%).  

Teletrac Navman's TN360 ACM platform offers innovative features that address these growing challenges by simplifying asset management and providing visibility into how on-road vehicles, heavy equipment, and non-powered assets are maintained and utilized across job sites.   

Telematics plays a pivotal role in the construction industry's data-driven transformation. According to a survey by Teletrac Navman, 83% of construction companies use telematics with the biggest benefits being time & cost savings (67%) and fuel savings (40%). Telematics empowers construction fleet operators to make informed decisions, lower costs, and effectively manage resources across job sites. 

 

Real-time Decisions & Complete View of Data 

Teletrac Navman’s TN360 ACM consolidates all heavy equipment data—from multiple sources and manufacturers — into a single, cloud-based portal.  The comprehensive management of assets is fully integrated into the solution, including work order tasks, maintenance, production efficiency, equipment lifecycle, asset utilization, jobsite costing, fuel management, safety, routing, and scheduling. This removes the need for cumbersome paperwork and streamlines workflows. Teletrac Navman’s survey found that more than 35% of construction companies also use telematics to improve asset visibility.  

"Data has tremendous potential to add financial efficiency to an industry that already operates on razor-thin margins," says Mayank Sharma, Head of Global Product Management, Teletrac Navman. "TN360 goes beyond compliance management to empower fleet managers with insights that enhance safety, sustainability, and productivity, which our customers have said has a positive impact on how they manage their assets." 

 

Equipment Maintenance  

Teletrac Navman’s TN360 ACM equipment maintenance features can increase productivity and keep jobs on track by providing digital inspections and maintenance plans. By tracking maintenance schedules and providing real-time equipment telematics, operators can reduce downtime. The inspection app enables field operators to quickly complete inspections, with failure alerts instantly shared with maintenance teams so corrective action can be taken. The software also tracks maintenance cost and provides visibility into total cost of ownership. 

 

Safety & Asset Management  

Using TN360 ACM, operators can measure driver behavior on and off the jobsite and reduce the risks associated with keeping operations moving. The TN360 platform also addresses equipment theft, a significant concern for construction businesses, with features like GPS Asset Tracking to prevent unauthorized use and aid in locating stolen equipment.  

 

Finally, as the construction industry faces evolving challenges, TN360 emerges as the platform of choice for forward-thinking fleet managers. Teletrac Navman remains committed to shaping the future of fleet management, making compliance, sustainability, and productivity attainable realities for construction companies worldwide. 

 

To learn more about Teletrac Navman, visit us at booth #N2077 at the World of Construction conference.  

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About Teletrac Navman   

Teletrac Navman’s goal is to empower the industries that transform and sustain our futures with simple and intelligent solutions that enhance the efficiency, safety, and sustainability of their operation. As a connected mobility platform for industries that manage vehicle and equipment assets, Teletrac Navman simplifies the complex so that its customers can transform the way they work through cloud-based solutions that leverage AI to unlock the power of operational insight. Teletrac Navman manages more than 700,000 vehicles and assets around the world. The company operates globally, with offices worldwide and headquarters in Orange County, CA. For more information visit www.teletracnavman.com.    

Teletrac Navman is a Vontier company.   

  

About Vontier  

Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website www.vontier.com.