How Your Business can Save Money By Implementing Fleet Management in 2022

by Josh Biggs in Finance on 24th January 2022

No matter the number of vehicles that your business involves, there are two things you can’t underestimate when it comes to a thriving business; they are money and time. From talking to dissatisfied customers and scheduling maintenance to reviewing logbooks and taking care of violations, there is so much that’s involved in making you have a profitable business. While you take care of these areas, you’ll probably not have enough time to monitor your fleet of vehicles to make sure they’re working efficiently. 

Fortunately, you can save both time and money when you make use of a potent and effective fleet management system. Apart from this, you’ll get the chance to make better decisions for your business when the system runs smoothly. 

Many businesses can benefit from fleet management irrespective of their fleet size. If you own a fleet, you’re already aware of how even a little difference in fleet-related costs can help your company’s budget. There are several ways you can save money with fleet management, and they include:

  1. Better fuel economy 

You can’t do much when it comes to fuel prices as it is not a stagnant figure. Nevertheless, you can monitor the fuel usage and maybe control it in a better way. With a better fuel economy, you’ll automatically save money when it comes to the cost of fuel. Even though several individuals might not care about how much they spend on fuel, in the long run, your budget can be greatly impacted by fuel usage. 

With 4g GPS fleet tracking management, Capture more actionable data points in real-time with advanced Driver ID features, driver behavior monitoring, geofencing, temperature monitoring, idling, and more. With GPS tracking, one of the fleet management solutions, you can track several parameters, and they include harsh braking, and speeding. 

Make sure that your drivers follow the shortest and best route, as that will also reduce fuel consumption. You need to ensure that the drivers aren’t driving unnecessary miles. A way you can do this is by planning out their route. You can easily do route optimization by making use of fleet management software. 

One other way you can save on the cost of fuel is by making use of fuel cards. Fuel cards get rid of the time and money you spend on accounting or administration required for the pay and reclaim system.

  1. Increase the equipment lifespan

Unanticipated downtime that happens as a result of vehicle repair can result in time wastage and can have a negative effect on your business profit. When you implement fleet management solutions, you can schedule maintenance with ease which then gives you the time to focus on other things as you’re sure that your vehicle is in good hands. You can even decide to create alerts for your vehicles. With this, you will get the chance to notice and manage issues beforehand so your fleets will keep running on the road. When you also schedule regular maintenance, the lifespan of your vehicle will also increase, and you’ll not need to replace it too frequently. 

  1. Reduced hours of service violations

If the costs as a result of HOS violations stress you, you don’t need to worry anymore. With ELDs (electronic logging devices), fleet management software can help you stay in compliance with the FMCSA. When you comply, it can help you avoid fines and penalties that can cause you to waste both time and money. 

  1. Excellent customer service

With fleet management software, you can provide better customer service. While your customers constantly call you to get updates on their shipment, you can quickly check the info rather than keeping them waiting, as you can easily get this in with fleet management software. With this, your customers will be satisfied that you take their concerns seriously and would be very glad to continue offering you business. 

Irrespective of your type of business or the number of vehicles in your fleet, implementing fleet management solutions can be of great benefit. From reducing the cost of fuel and improving fleet performances to extending your equipment lifespan, you’ll definitely save both time and money when you implement a fleet management system.

Categories: Finance