“Where is all my revenue draining away?”, that’s the very question that troubles every fleet manager. In most cases, businesses seem to witness a steady flow of daily jobs and customers, but when it comes to realizing its profit, they are left with meagre earnings.
Thankfully, the modern-day fleet tracking software has given fleet managers the big picture of everything happening within the business. And what’s more, fleet managers now have powerful tools to reduce costs and improve savings. Let’s see how.
Minimize vehicle operational costs
When your driver roams around aimlessly trying to find the customer location, your business is not only wasting time, it experiences fuel wastage, delayed deliveries, overtime labor costs and a decline in the service quality. With a GPS fleet tracking software, your drivers will have no trouble covering multiple locations in less time with optimized routes and thereby minimize fleet operational costs.
Decrease insurance payouts
Insurance premiums are expensive necessities for fleet businesses. However, adopting a fleet tracking software can reduce your monthly payouts as insurance companies tend to decrease the insurance costs as they consider it as a safety measure. And besides, by monitoring your driver behaviour and fleet movement, there will be a decrease in accidents and road violations.
Improve fuel efficiency
The biggest yet inescapable business expense is fuel. But, there are ways to curb your fuel consumption without affecting fleet productivity. A fleet tracking software not only lets you monitor your fleet movements, but also allows you to know how much fuel is consumed, the vehicle mileage and other key fuel insights. With such data, fleet managers can make better decisions on choosing vehicles that are more fuel-efficient.
Additionally, with constant monitoring, your drivers will be less encouraged at taking unwanted detours for attending personal business, saving your business both fuel and money.
Reduce breakdown costs
Your fleet is the most valuable asset and when they spend most of the time in the garage, these vehicles aren’t of much use, are they? Sudden vehicle breakdown can disrupt your business flow and lead to expensive repair costs.
Fleet tracking solves this hurdle with scheduled maintenance. From preventive measures like oil changes, tire replacement, mile-based checkup and more, businesses can plan a vehicle maintenance schedule to avoid mishaps in the future. Detailed vehicle health and engine diagnostics reports gives businesses a chance to analyse vehicles based on its fuel efficiency, maintenance costs and overhead expenditure to either retain vehicles or replace it with newer, more efficient versions.
Eliminate overtime wages
Planning is everything. A fleet tracking system lets you schedule your driver’s workload in such a way that there’s more work done and none of the drivers works beyond their time. Monitoring driver activities will also mean maximum efficiency and productivity.
By inculcating these savings into your business, you can witness a direct impact on your profit margin. With such great benefits, there is no reason why your fleet business should not adopt a fleet tracking software!