How one Geoforce Reseller experienced one of their busiest quarters of activity ever, while a lot of companies had down time.
Trackunit is THE off-highway telematics provider, building their business around the rental and construction industry. Trackunit got their start in Europe by building their own cellular hardware for heavy equipment and, while they still maintain this business, they have also gained an appreciation for partnerships with other equipment manufacturers – like Geoforce – who provide additional solutions and data points. These partnerships allow Trackunit to integrate valuable information into the Trackunit software platform for customers in the rental and construction space globally. Not only does Trackunit collect and integrate data into a single plane of glass, but they also maintain an open API to manage data into customers’ back end applications, providing a great user experience.
Although Trackunit has their own cellular solution, “Geoforce fills a hole in our portfolio, since we are not the experts in satellite tracking.” explains Solutions Engineer, Mike Cranston. “For us, it’s extremely important to choose a well-regarded, reliable partner who not only fills that void, but also works with us on how they can complement the solution. Geoforce is always working with Trackunit to explore new ways to drive value with our current customer base, in addition to helping us find new opportunities.” Cranston explains that satellite tracking has historically been a niche product, but Trackunit is trying to find ways of turning it into a more mainstream offering for remote assets to report machine health. Ultimately, Geoforce helps Trackunit focus in on areas where, strategically, Trackunit has chosen not to pursue in the past, but where there’s still a huge potential for growth.
So, how did Trackunit not only sustain, but actually GROW their business during one of the most uncertain economic times in history?
First and foremost, they are diversified. The oil crisis didn’t impact Trackunit as significantly as it did other Geoforce resellers. In fact, Trackunit’s primary market, construction, was considered an “essential business” in many parts of the US, and many of Trackunit’s customers either increased their operations over this period or decided to advance technology projects. Trackunit is also very heavy in the rental industry, which was impacted less than other industries. Sadly, many companies had to cease operations and sell or “idle” hard assets, but this resulted in organizations gravitating moving more towards rental options to shore that gap.
Trackunit also used the “downtime” (which was anything BUT, for Trackunit!) to refocus efforts on helping companies maximize return on the investment of their owned equipment. They reengaged with customers that had previously not had enough time to focus on telematics, who were often too busy in their day-to-day operations to drive full value out of the solution. Trackunit discovered that many customers who initially thought they only needed basic information like hours and location, really appreciated additional “machine health” data collected from their machines, so upgraded hardware was installed on equipment that was not currently in use.
For the remainder of 2020, Trackunit will continue to focus on their core business, with an emphasis on revisiting what success means for their customers during this time and accelerating their own product roadmap, one of the only things that is within the realm to control. “We have always appreciated partnerships that work, and we look forward to deepening our relationship with Geoforce to expand our relationship and joint capabilities.”