Transmetrics, a Sofia, Bulgaria based scale-up that provides artificial intelligence (AI) and big data analytics solutions for logistics companies, has just announced a new tool aimed at large vehicle fleet managers.
FleetMetrics integrates data across systems (e.g. Telematics, TMS, fuel & toll transactions, etc.) to help solve some of the biggest challenges associated with trucking operations, including increasing operational efficiency, keeping costs down, and fuel efficiency.
Conceived in 2012 by four logistics consultants during a conference on the transportation sector, the Bulgarian firm now counts over 50 employees and works with some of the world’s largest logistics companies including DHL, Kuehne+Nagel, DB Schenker, and DPD.
The company’s current CEO, co-founder Asparuh Koev, is based in Bulgaria and has a successful track record launching technology-enabled companies. According to the company’s website, they’ve raised € 7.5 million in capital and grants.
Of the latest product release, Koev said, “FleetMetrics is more than just a product – it’s an innovation that will change how trucking companies can manage their fleets. It provides them with the tools to improve their operations, increase their revenue, and boost their profitability like never before.”
Koev added, “Our pilot customers have already seen significant benefits with FleetMetrics, including generating revenue from their data, automating tasks, improving fleet KPIs, and enhancing profitability.”
The new tool aims to solve for a number of issues including: Consolidates Telematics and TMS data, as well as data from fuel and toll transactions or other systems, providing a unified view of fleet operations; Continuous monitoring of driver and truck performance metrics pinpoints improvement areas, ensuring operational efficiency; constant fuel efficiency monitoring across operational categories; swift profitability monitoring of key financial metrics, and more.
According to BIS Research, a market intelligence firm, the European fleet management market (excluding U.K.) is projected to reach $4,710.7 million by 2031 from $968.5 million in 2022.
The new FleetMetrics tool covers many vehicle types, from 7.5-ton solo trucks to 40-ton tractor-trailer combinations.
The implementation process typically takes 1-2 months, from initial setup to full operational integration, depending on the compatibility with the organization’s existing telematics and transportation management systems (TMS), according to the company.