– By Caroline Falls –
Vault Intelligence, a software company listed on the Australian stock exchange, is rapidly clocking up sales of its recently launched driver safety solution app called SoloDrive.
In November, the company founded by retired Australian Army risk officer David Moylan in 2000, announced a $12.4 million five-year contract with New Zealand fleet management group SurePlan. It was the second multi-million dollar sale of the app in a matter of weeks.
“This contract is the second successive multi-million dollar Solo deal in the past four weeks, further demonstrating global and rapid momentum with a shortening sales cycle resulting from leading product with a compelling customer value proposition,” Vault said in a statement.
So what is SoloDrive and what does it do?
Vault’s SoloDrive is a smart mobile app designed to manage driver behaviour and improve driver safety. It was launched this year. The app provides critical data to the individual to manage their own performance, and also to the business to assist in education, management, and cost control.
SoloDrive has instant crash detection and alerting. It also detects key driving behaviours known to increase the risk of accident and costs for fleets —mobile-phone handling, hard cornering, rapid acceleration, harsh braking and speeding.
“With this knowledge, individuals improve their own driving, making roads safer and delivering demonstrable benefits to the organisations within which they work,” Vault said in a statement.
“It gamifies to show who are the best drivers,” a company spokesman told Fleet Auto News. “It’s more about driving better behaviour in a positive way.” Maybe that’s why the technology was designed to engage drivers by making it like a game and competitive. “Nobody wants to be the worst driver at work.”
The system rewards points for slower acceleration at take-off, rather than rapid, knowing that this is better for fuel consumption, as well as safety.
Moylan, CEO and Managing Director at Vault said,“Driver safety is exceptionally important to Vault so by creating SoloDrive, we have built a smart, intuitive and engaging solution to deliver real protection for drivers and provide significant financial efficiencies for businesses.”
Vault’s other safety and mobility technology includes Vault Enterprise and Vault Solo. The company counts some of the world’s biggest companies among its more than 600 customers, including Coca-Cola and Visy.
Gordon Brown, CEO of SurePlan New Zealand, said,“The SoloDrive solution is the perfect enhancement for our business as it provides the tools needed to lift the driving performance of fleet drivers, which is our primary strategic objective for all New Zealanders.”
— Caroline Falls is a freelance reporter, writing for Australian and international publications. She can be contacted at carolinefalls@gmail.com
