EOX Vantage Blogs

Published in CCJ Digital | May 4, 2021

Fact #1: Vast amounts of actionable data are available to trucking companies and more is compiled all the time and from all over the place. It comes especially through telematics, but also from ELDs, dashboard cams and TMS components, even outside sources like from the company's own insurers, motor vehicle records, VIN databases or federal safety collections.

Fact #2: Today's transportation industry is placing an ever-stronger emphasis on safety. Companies prioritize and make investments into ways to improve training, avert nuclear verdicts, mitigate risks and manage insurance premiums.

Let's bring these two facts together by suggesting that data can and should be used to address all these safety concerns.

Interviewed by Adam Burroughs | Smart Business Magazine | INSIGHTS Digital Transformation

Legacy systems are relied upon to perform an organization's day-to-day work. But, in many cases, technology has improved drastically since companies first implemented those systems, leading to a point at which the tasks those systems perform could strain those systems beyond what they can handle. This opens the door to failure, user frustration and more.

"When your system no longer supports scalability, you lose the competitive advantage in the market," says Nishan Kumar, project manager at EOX Vantage.

Smart Business spoke with Kumar about how to recognize when it's time to address the problems caused by older legacy systems, and how upgrades can improve workflows.

Gap analysis seeks to find and correct the reasons that drive differences between desired/projected outcomes and actual results. The gaps for each company will naturally be different. When we think of the transportation industry taken as a whole, these are a few examples of typical gaps:

If there's one industry that generates a lot of paperwork, it's trucking. The piles of paper include bills of lading, registrations, inspection reports, insurance documentation, receipts and accounting files, just to start.

There seems to be no end and it has become a commonly cited pain point that bogs down daily operations. Efficient document management is quickly becoming a vital survival strategy.

Every business needs a system to help run day-to-day operations. Managing General Agencies (MGAs) in the insurance industry often select a platform in the software category of Agency Management Systems (AMS). An AMS provides a robust suite of tools to help insurers manage work functions and processes all up and down the policy lifecycle and throughout the enterprise.

The transportation industry experienced a rough 2020. It got hit harder than many other sectors of the economy, as the pandemic caused problems up and down the supply chain. Going into 2021, according to a recent survey, the top concerns for motor carriers are driver compliance, driver shortages and driver retention.

Published in CHART Exchange | December 2020 issue
Author: Mike Fieseler

We find ourselves at the end of year like no other we've experienced. Everything changed overnight. Your people went remote, your clients went remote. Everyone's attitude and work habits, the way we access data and information and our expectations altered suddenly and to an extent most of us didn't expect.

It all turned into an unprecedented maelstrom of technological activity as we crafted ways to work from home, add self-serve tools, deal with no-contact claims/meetings/service and engineer rapid deployment of digitization and automated workflows.

Doing Brisk Business: You Need Speed to Succeed

Published in Rough Notes | September 2020 issue
Author: Mike Fieseler

If the marketplace were a racetrack, today's policy seekers want to drive a high-performance sports car instead of an old gear-grinding jalopy - which is what traditional operating models of insurance left them with, until recently. Insurance has made steady progress transforming its old-school, paper-based, in-person ethos, but in 2020 the COVID pandemic has super-accelerated the overall trend toward speed.

Automation 101

Interviewed by Adam Burroughs | Smart Business Magazine | INSIGHTS Digital Transformation

Workflow automation, a key element of the solution strategies known as "digital transformation," enables companies to automate various business processes. This can have a big impact not just on efficiency and accuracy, but on motivation and morale as well.

PART 2

Welcome to part 2 in our review of how the COVID-19 pandemic has changed the ways companies do business - in the short term, as well as probably in the long term and perhaps forever.