Cartrack Reaches 500K Subscribers
Since its launch to the market in South Africa in 2004, Cartrack has evolved from a stolen vehicle recovery (SVR) organisation, to a leading global provider of telematics solutions for mobile asset tracking and related data management, through the use of Software-as-a-service (Saas) as its delivery model. Having built its reputation based on quality value added services and achieving rapid, sustainable growth and profitability, which culminated in its successful listing on the Johannesburg Stock Exchange in 2014.
The facts speak for themselves. Cartrack recently surpassed the landmark milestone of 500,000 active subscribers in the territories it operates, and it is estimated that Cartrack now ranks among the top ten telematics companies globally.
The company has also recorded in excess of 18 000 vehicles recovered to the total value of over R3,5 billion and consistently maintains its independently audited recovery rate at 93% or above. Additionally, Cartrack was also the first to market with a unique R150, 000 recovery warranty. Clearly it is not possible to recover every stolen vehicle, so Cartrack has honoured its much publicized recovery warranty and paid out in excess of R8 million since the inception of its recovery warranty in 2012 – a small amount relative to the value of recovered vehicle, but testimony to Cartrack’s claim to its superior service and to “putting its money where its mouth is.”
Cartrack’s growth has seen not only its geographical expansion into territories such as Europe, Malaysia, Thailand, The United Arab Emirates, and the rest of Africa. It has seen the organisation develop proprietary technologies from advanced fleet management to those which aid in tracking prisoners in Singapore and others that provide workforce management. Yet other technology variants have taken the company’s services into insurance risk management, data analytics and added value products providing personal safety and peace of mind.
Innovation lies at the key of our business and it’s vital to the success thereof – to this end we ensure that we are constantly developing new technologies that take into account the learnings from all the countries we operate in. This keeps us globally relevant in both hardware and services – Global CFO and Deputy CEO John Edmeston.