Feb

Cartrack reaches 500 000 subscribers

2016-02-25 15:09
John Edmeston, global CFO and deputy CEO of Cartrack. Happy at reaching the 500 000 subscriber milestone

Congratulations to Cartrack on surpassing the landmark milestone of 500 000 active subscribers in the territories in which it operates. According to the company, this ranks Cartrack among the top ten telematics companies globally.

The company has also recorded in excess of 18 000 vehicles recovered at a total value of over R3,5-billion. Its independently audited recovery rate is consistently maintained at 93% or above.

Cartrack was also the first company in South Africa to come up with a R150 000 recovery warranty. As those who have been in this game for some time will know, it is not possible to recover every stolen vehicle and Cartrack has honoured its recovery warranty by paying out in excess of R8-million since the inception of its recovery warranty in 2012. This gives testimony to the Cartrack’s claim of “putting its money where its mouth is.”

Since its launch in South Africa in 2004, Cartrack has evolved from a stolen vehicle recovery (SVR) organisation to a 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. The company achieved rapid, sustainable growth and profitability which culminated in its successful listing on the Johannesburg Stock Exchange in 2014.

Cartrack’s growth has not only seen its geographical expansion into territories such as Europe, Malaysia, Thailand, the United Arab Emirates and the rest of Africa but has also seen the organisation develop proprietary technologies ranging from advanced fleet management to those which aid in tracking prisoners in Singapore and others that provide workforce management. 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 is vital to our success,” says global CFO and deputy CEO John Edmeston. “To this end, we ensure 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.”

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