WTF!* – Risk Register

Why telematics fail
WTF!* – Personal Liability
10th December 2018
Why telematics fail
WTF*! – Let The Cloud Take The Slack
7th January 2019

WTF!* – Risk Register

Why telematics fail

Risk Register

If the last blog made you cover your eyes or head towards a stiff drink, relax.  This bit is much less frightening. In fact, we’re here to tell you how we work with data to help you come up with a strategy, reduce your risk and potentially lower your insurance premiums too.

Check out your personalised risk register now.

Part of the FLEETiQ process at Vtec Solutions is to identify areas that are a weakness in each business.  This is initially done by creating a Risk Register as shown below which highlights the areas which need immediate attention.

Vtec Fleet Productivity Roadmap Risk Register

 

Risk

 

 

Probability

(P = 1-9)

 

 

Impact

(I = 1-9)

 

Score

(P x I)

Purchase cheapest system available9981
Don’t utilise telematics properly9981
Ignore the driver behaviour data from telematics9872
Used only as a “dot on the map”9763
Don’t use to benefit insurance costs9963
Insufficient and ineffective delegation7749
Failure to change (systems/behaviours/processes)7642
Failure to work with Drivers to lower costs7642
Insufficient clarity of Key Performance Objectives6742
Insufficient engagement from significant stakeholders6636

 

The last risk above is “Insufficient engagement from significant stakeholders” which completely changes if meaningful data can be provided to achieve set objectives. Once you get people on board with your business objectives you can start to engage your stakeholders with what that means for them.

We know that finding your way around your telematics is a steep learning curve. When you first invest it can feel as if your new system is the answer to all of your challenges, but that isn’t always the case.  Learning to make it work for your business means identifying the areas where it can be most effective and lead to lasting change. You might have read this guide and wondered where on earth you need to start.

That’s why we devised the risk register. It allows us to be a second, more specialist pair of eyes on your business and fleet management. We can help you to devise a road map that helps you to improve efficiency.  The risk register also highlights issues that you can deal with straight away.  That can help you to improve safety but also see the benefits immediately.

Contact us today to let us talk you through the risk register and where can you can make immediate changes.

 

Paul Cochrane
Paul is the Managing Director of Vtec Solutions. He has expertise in vehicle tracking and fleet management, spanning over a decade and prides himself in understanding business fleet challenges and ensuring fleets are running at their optimum.