28 Nov, 2017, 08:00 ET
SANTA CLARA, Calif., Nov. 28, 2017 /CNW/ -- Based on an in-depth analysis of the electronic logging device (ELD) market, Frost & Sullivan has identified BigRoad as the best ELD solution provider in the market and awarded them the 2017 North American Customer Value Leadership Award for its DashLink ELD.
In December 2015, the ELD Final Rule was published by the Federal Motor Carrier Safety Administration (FMCSA). This rule made it mandatory for the majority of commercial vehicle (CMV) drivers in the United States to run an electronic logging device (ELD) in their vehicle by December 18, 2017. The North American trucking industry consists of large fleets, small to midsize fleets, and owner-operators. Small- to mid-size fleets and owner-operators make up the largest segment, accounting for more than 35% of the ELD addressable market.
Since 2015, hundreds of solutions have flooded the market. However, for small & owner-operator fleets ELD penetration was only 5-6% at the end of 2016. In an industry plagued with the rising cost of ownership and diminishing margins, the added expense of a new device is not easily absorbed. Despite the tremendous growth potential, gaining inroads is difficult.
"With creative product technology, a well-planned positioning strategy, and rock-solid customer support, BigRoad has firmly established itself as one of the best ELD solution providers in the market - not just for owner-operators and small fleets, but for cost-conscious larger fleets as well," said Gokulnath Raghavan, Senior Research Analyst at Frost & Sullivan.
Ontario-based BigRoad has provided hours-of-service (HOS) compliance solutions to the North American transportation industry since 2011. In March 2017, BigRoad was acquired by Fleet Complete, a global IoT provider of missions critical fleet, asset, and mobile workforce management and telematics solutions. In a crowded market, BigRoad has outperformed the competition and distinguished itself on the 4 Ps of product, price, position, and promotion.
The DashLink ELD is one of a few plug-and-play solutions available, making it a popular choice among owner-operators, small fleets, and cost-conscious large fleets. Drivers use their personal or company-issued mobile device (smartphone or tablet) and pair it to DashLink via Bluetooth, keeping overhead costs low.
Through extensive market research, BigRoad identified two distinct segments: owner-operators and fleets. BigRoad found significant gaps in terms of the solutions being offered to these segments. The company understood that both segments experience significantly different pain points, technical requirements, and had varying timelines for achieving ELD mandate compliance.
BigRoad adjusted the price of DashLink to appeal to specific audiences. In 2017, it substantially dropped the price of its DashLink ELD for owner-operators (1-2 truck operations) from $25.00 per month to just $19.50 per month, per unit. This reflects BigRoad's commitment to providing affordable compliance for the "little guy" (as it calls its owner-operator customers), while making it the least expensive solution in the ELD market.
Paired with a dynamic pricing structure, BigRoad creatively uses promotions to make ELD mandate compliance even more affordable. The BigRoad Mobile App electronic logbook has been free for drivers to use since its launch in 2011 and fleets can take advantage of a free 30-day trial of the BigRoad Web App fleet management tool. BigRoad also offers a lucrative referral program where referers earn a $75 gift card for every referral that results in the purchase of a DashLink ELD and the referee earns a $25 gift card. BigRoad also launched a "buy now and get three months free" promotion giving owner-operators and fleets an additional three months free when they purchase their DashLink before December 18, 2017.
Customer Service and Feedback
At a price point of $19.50 per month/per unit for owner-operators and $25.00 per month/per unit for fleets, BigRoad is one of the most affordable ELD compliance solutions. Paired with in-house North American account management, support ,and training teams, BigRoad has won the hearts of many customers.
"With BigRoad, I don't have to know every element of DOT compliance anymore," said Glenn Long, a satisfied customer. "It's taken care of for me. That's a huge comfort! So would I recommend BigRoad? Absolutely! I would ask them what they're waiting for."
BigRoad offers an efficient purchasing process by phone and was the first ELD provider to enable online purchasing through an ecommerce portal on their website (www.getmyeld.com).
BigRoad has doubled revenue from 2015 to 2016, achieved an 89% operating margin in 2016, and doubled their number of in-office staff. With its acquisition by Fleet Complete, BigRoad is well-positioned to become a top-three vendor in the ELD solutions market. With its strong overall performance, BigRoad has earned Frost & Sullivan's 2017 Customer Value Leadership Award.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for customers with a focus on improving the return on the investment. This award recognizes BigRoad's unique focus on augmenting the value that its customers receive, beyond just good customer service, leading to improved customer retention, and customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
BigRoad - A Fleet Complete Company is the industry leading provider of hours-of-service (HOS) and electronic logging device (ELD) mandate compliance solutions for the North American trucking industry. In March 2017, BigRoad was acquired by Fleet Complete, a global IoT provider of mission critical fleet, asset and mobile workforce management and telematics solutions. BigRoad's solutions include the BigRoad Mobile App electronic logbook, BigRoad Web App fleet management tool, and the DashLink ELD. Over 500,000 drivers and 30,000 fleets trust BigRoad's solutions to simplify day-to-day activities, create operational efficiency, and improve profitability. BigRoad has received numerous awards for innovation and growth including the 2017 North American Electronic Logging Device (ELD) Solution Customer Value Leadership Award from Frost & Sullivan.
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SOURCE Frost & Sullivan
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