Telematics and mobility provider RentalMatics announced it has been granted a U.S. patent for Stock Anomalies for car rental fleet management using telematics.
The technology uses telematics to identify anomalies in rental car stock. By analyzing data from the vehicles' telematics systems, RentalMatics can identify patterns of behavior that indicate a vehicle is being used in a way that is not in line with the rental agreement. This could include excessive mileage, extended use outside the rental area, or other signs of misuse or abuse.
With this technology, rental car companies can identify and address issues with their fleet, reducing the risk of damage, theft, or other issues. This also allows rental car companies to optimize their inventory, ensuring that vehicles are available when and where they are needed, while minimizing the risk of overstocking or understocking.
"We are thrilled to receive this patent for our Stock Anomalies technology," said Colm Brady, CEO of RentalMatics in a statement. "This is a testament to our team's hard work and dedication, who have worked tirelessly to develop and refine this innovative technology. We believe that this technology will revolutionize the car rental industry, helping rental car companies to manage their fleets and increase profitability more effectively."