Targa Telematics Applauded by Frost & Sullivan for Uniquely Leveraging Its Technology to Meet European Vehicle Leasing and Rental Telematics Real-world Client and Market Needs
Telematics track vehicles in real time and monitor their mileage, location, maintenance status, driver behavior, and claims costs, significantly minimizing expenses while maximizing customer satisfaction
SAN ANTONIO, May 24, 2022 /CNW/ -- Recently, Frost & Sullivan assessed the European vehicle leasing and rental telematics industry and, based on its findings, recognizes Targa Telematics (Targa) with the 2022 Europe Technology Innovation Leadership Award. The company uniquely leverages its technology to meet its customers' needs. Telematics track vehicles in real time and monitor their mileage, location, maintenance status, driver behavior, and claims costs, significantly minimizing leasing and rental companies' expenses while maximizing customer satisfaction. Targa develops high-tech solutions, such as complete and customizable Internet of Things (IoT), smart mobility solutions, and advanced digital platforms for mobility operators. The company enables new business models to improve safety, ensure human capital and financial savings, and protect the environment.
Targa understands the various client types' unique needs and has taken steps to equip them with the most up-to-date and cutting-edge solutions. The company's orderly and systematic product development journey begins with extensive research and development conducted by tenured industry professionals. Adopting an agile approach, the company leverages the acquired knowledge to build innovative solutions that address market needs. This process has resulted in a comprehensive portfolio that supports mobility operators in quickly developing new mobility products. Targa keeps an open channel between product management teams, customers, and partners in the mobility ecosystem, ensuring the data-driven roadmap aligns with new industry challenges.
According to Ojaswi Rana, Frost & Sullivan Best Practices research analyst, "The open innovation approach involves co-creating with its customers, partners, and universities to discover new technologies. The company's open platform allows embedding third-party and internally developed technologies."
Targa provides an open technology stack, operated services, and a partner ecosystem and delivers hardware, software, and operated services in end-to-end solutions while offering each component separately. The hardware solution allows standardized data access through application rogramming interfaces and data streams; thus, effectively managing the complexity of interacting with numerous vehicle models. Targa Plexer, one of the company's novel solutions, is compatible with more than 800 commercial vehicle models, such as cars, electric vehicles (EVs), three-wheelers, and motorbikes (with CAN bus). Targa's open approach accelerates solution development, and the global microservice-based architecture allows mobility ecosystem partner integration and critical operative process management. The scalable platform and operations can adapt to customers' changing needs.
"Targa combines unique smart mobility features and fleet management solutions with IoT, artificial intelligence, and machine learning to make connectivity in the vehicle leasing and rental space a hassle-free experience. Targa's transformational technology reshapes market boundaries. Sustainable leadership, client testimonials, and commercialization success are testaments to its remarkable impact on the vehicle leasing and rental telematics industry," explained Rajesh Depores, an industry analyst for Frost & Sullivan.
"As a company investing in technology and innovation, we are very proud to have received this special award", commented Nicola De Mattia, Ceo at Targa Telematics. "The hard work done by the whole team over the last years has been recognized by such a leading firm and this will be a further boost for keeping to try to make the difference in creating value for our partners, supporting them in the transformation of their business. Aiming that we will continue to develop co-creation projects with our customers, supporting them during their digital journey and developing best-of-breed connected car solutions to increase their market competitiveness".
Targa delivers vehicle efficiency and safety, financial savings, and environmental protection through its technology. The company stands out from competitors based on its commitment to innovation and creativity while achieving commercial success. Expanding its global footprint, Targa is on the path to becoming a global leader in the vehicle leasing and rental telematics space. For its strong overall performance, Targa is recognized with Frost & Sullivan's 2022 Europe Technology Innovation Leadership Award in the vehicle leasing and rental telematics industry.
Each year, Frost & Sullivan presents this award to the company that develops a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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SOURCE Frost & Sullivan