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Caver PR Client News Release - Fleet and asset managers turning to technology to fight high fuel and theft costs in a rocky economy
 Download this artice in PDF format For Immediate Release November 13, 2008 For More Information Contact: Bonnie Caver Caver Public Relations 512.832.8588 (office) 512.217.5397 (cell) LAS VEGAS, NV – Over the next 12 months, many fleet and asset managers will be turning to new technology to help them contend with escalating fuel and theft costs, according to a survey conducted by Celevoke, Inc., at the annual Specialty Equipment Market Association Show earlier this month in Las Vegas. The survey reveals that fleet vehicle owners consider high gas costs and theft-related losses the greatest threats to their industry. Respondents ranked concerns about gas and theft nearly equal (34% vs. 33%), followed by insurance rates (21%) and fraud (12%). To offset their risks, a significant 87 percent of survey respondents said they are planning to purchase technology within the next 12 months from companies like Celevoke, a leader in global GPS tracking, cellular networks and monitoring solutions capable of safeguarding client assets in more than 150 countries. "Fleet managers are finding that the old ways of doing business just don't provide the visibility and control needed in this economic climate," said Rob Shirley, Celevoke Executive Vice President of Sales, Marketing and Business Development. "They need support and solutions to survive—and thrive—in todayís tough marketplace." Compounding industry concerns are the nationís turbulent economy and a threatened recession, the survey shows. Respondents concurred that economic conditions have escalated their anxiety about gas consumption (84%), equipment usage (77%) and theft (64%). "Even though gas prices have dropped over the past two months, fleet and asset managers remain wary of the impact of fuel costs on their bottom line, especially with a recession looming," said Shirley. "The volatile oil market has many wondering when the bubble will burst and prices will skyrocket again." Vehicle security is a worry for nearly 70 percent of survey respondents, and 55 percent expressed plans to purchase technology specifically designed to decrease theft. In recent months, Celevoke helped client Horizon Construction avoid insurance rate hikes by quickly recovering construction equipment valued at $150,000. Celevoke is working with insurance carriers to offer percentage reductions in theft premiums when its GPS tracking system is in place. "Now more than ever, companies need assurance their assets are being managed safely, efficiently and cost effectively," said Shirley. Celevoke customers have been able to realize a sizeable return on investment through insurance savings, reduced fuel and maintenance costs and asset gains resulting from improved recovery. Celevoke's ROI calculator allows clients to estimate the financial benefits. About Celevoke, Inc. Celevoke enables clients to better manage, track and recover valuable mobile and personal assets — around the clock and around the world. Celevoke's unique combination of global GPS, cellular network and state-of-the-art tracking equipment, along with Celevoke's patented Universal Telematics Server™ enables clients to safeguard assets in real time in more than 150 countries. Celevoke, Inc., is headquartered in Austin, Texas and is a subsidiary of Current Technology Corporation (OTCBB: CRTCF). |
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