Based on recent analysis of the telematics market, Frost & Sullivan has recognized MiX Telematics as the recipient of the 2016 South African Company of the Year Award. As a global provider of fleet and mobile asset management solutions, MiX Telematics serves a range of industries and customer types by offering superior, value-driven products and services that guarantee rapid return on investment, according to Frost & Sullivan.
Using the software-as-a-service (SaaS) delivery model, MiX Telematics provides products and services for enterprise fleets, small fleets, and consumers in more than 120 countries across six continents. In South Africa specifically, MiX Telematics addresses the needs of both the consumer seeking low-end vehicle tracking solutions as well as large companies seeking advanced telematics solutions. Through Beame, the company offers consumers an affordable, wireless stolen vehicle recovery (SVR) service with one of the highest recovery rates in South Africa. Matrix, another MiX Telematics consumer brand, offers a wide range of personal safety features in addition to superior vehicle tracking and recovery services, according to Frost & Sullian.
MiX Telematics has traditionally been an early adopter of emerging technologies and, therefore, has the first-mover advantage in untapped markets. Matrix was the first consumer brand in South Africa to roll out a vehicle tracking and recovery product based on the Global System for Mobile Communications (GSM). Furthermore, the early adoption of cloud-based software, an annuity revenue model, and a software-as-a-service based model have enabled MiX Telematics to establish its leadership in the telematics industry and develop a successful commercial model, according to Frost & Sullivan.
The MiX Telematics fleet management solutions empower commercial fleet operators to actively manage, monitor and measure the performance of their drivers and mobile assets. Due to the operational efficiencies that these solutions achieve, customers are able to reduce their fleet sizes by 12 to 30%, maintenance costs by 15%, accidents by 70%, and fuel costs by 7 to 15%, according to Frost & Sullivan.
MiX Telematics provides its customers with the choice of driver or vehicle-centricity, with the former focusing on the driver's driving behavior and safety, and the latter on the vehicle's performance and data-driven prognostics. Because MiX Telematics believes that focusing on the driver is imperative to mitigate risk, it developed MyMiX, a scorecard application for drivers to manage their own scores and improve their driving behavior. Companies can further extend driver coaching efforts through a camera-based solution, MiX Vision, that is integrated with the MiX Fleet Manager solution, according to Frost & Sullivan.
Each year, Frost & Sullivan said it presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration. Frost & Sullivan's Best Practices awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.