A fleet business can make more bang per buck spent by automating daily tasks and checklists so that you have more time making strategic decisions to boost your fleet’s operating efficiency through data-driven fleet vehicle telematics.
10 Ways That Can Help Your Fleet Business Reduce Costs & Generate More Revenue
1. Digitised Log Books
Imagine a scenario where your crew of drivers log in or log off inaccurately during work hours and the weekly timesheets are all over the place. At the end of the month, the amount of time you might have wasted in rounding off figures just to pay the wages might have a colossal impact on your business.
Most importantly, if the figures are inaccurate and you end up paying more for fewer hours of work done, you are quite literally into the coffers of your business and impacting ROI in a negative manner.
A digitised log book attached to the fleet vehicles and corresponding drivers logs inaccurate times every time a fleet vehicle is mobilised post a task creation. It also tells you how many hours the driver spent on the job and at what locations.
2. Vehicle Tracking
Vehicle tracking is a must-have all fleet business companies as it gives the fleet managers or operators an in-depth view of the vehicle’s location on the global map. With vehicle tracking enabled, you can track the vehicle to its exact location, study the routes taken and activate geofences to enhance route compliance.
Vehicle tracking also prevents unauthorized vehicle usage at the hands of an employee or the driver. An ideal scenario in this particular case might be when a company allows an employee to take work vehicle home.
The driver may put the work vehicle to personal use to run errands that ends up consuming the company’s fuel and adds wear and tear to the company vehicle. Such scenarios can be omitted through vehicle tracking tech put to good use.
3. Fuel Monitoring
Fuel usage tracking is also essential to boost better ROI in any fleet business. There is a prevalence of fuel theft when the operator is using a company fuel card in the wrong manner. A common scenario might be when the driver goes in to fill up his or her personal vehicle and offers the company fuel card during transactions.
Through fleet tracking-fuel monitoring solutions, you can know whether the assigned work vehicle was at the fuel pump where the fuel card was used to prevent fraud. It can also help you know the amount of fuel that was purchased, at what time the fuel tank was filled, the quantity of fuel bought and the exact location of the work vehicle when the transaction was made.
“Linxio can help boost your fleet’s proficiency and skyrocket profits through vehicle fleet tracking.”
4. Driver Management & Safety Education
Imagine a scenario wherein the driver assigned on a job is taking the usual lunch break while keeping the work vehicle on idle with the air-conditioning on for more than an hour. Another scenario wherein the driver takes a detour to attend to personal obligations and takes a longer route while at the job.
Another scenario wherein the driver of work vehicle indulges in excessive braking, harsh acceleration or cornering. Such driving habits induce excessive fuel wastage and can also lead to accidents involving both the driver and the vehicle in question.
Through fleet tracking solutions, you know what exactly is the route the driver is taking while on the job through real-time tracking, study the obd data through engine integrated dashboards, study the idling zones and durations alongside corresponding locations.
5. Vehicle Inspection & Maintenance
Vehicle maintenance is pertinent when it comes to running the fleet vehicles to optimum use. A well-maintained work vehicle runs longers, costs less money for operations and is less susceptible to breakdowns, which helps a business not lose both time and money.
However, keeping track of the work vehicles and knowing when they are up for maintenance checks can be a daunting task and expensive problem to overlook. With fleet management software at disposal, you are notified of upcoming maintenance checks on your work vehicles in advance to plan and operate the existing work vehicles accordingly.
6. Route Optimisation
Imagine a scenario where a driver takes a wrong turn and ends up missing a delivery or isn’t on time for a scheduled pick up. Such practises not only cost the business money but other loses in terms of fuel wastage and work vehicle wear and tear.
Also, there might be situations that the usual route the work vehicle is driven on might not be the exact ideal route due to bad roads, heavy traffic or excessive tolls that all might contribute to a business losing money and making lesser profits.
Through route optimisation, the driver of the work vehicle gets notified of the ideal route to the destination of choice, smart traffic alerts and notifications about the estimated time of arrival among other things. This, in turn, helps a business plan ahead with regards to delivery and dispatch in turn helping the business save more money in terms of fuel usage, time and fleet optimisation.
7. Fringe Benefits Tax
FBT also know as fringe benefits tax is the manner in which employees contracted by the respective employer get to avail certain benefits, monitory and otherwise from an employer during their tenure of service with the employer.
Employers that actively provide fringe tax benefits to their employees can claim an income tax benefit detection for it. Also, the said firm or business can claim GST credits for the things offered as fringe benefits.
8. Compliance & CoR solutions
A fleet management software makes it easy to comply with the changes within the chain of responsibility laws tabled and updated from time to time. It helps a business save money and time wherein the fleet managers or operators can make the most of simplified compliance sans the paperwork through digitised forms for rapid resolutions and accelerated fleet operations.
9. Investing In New Age Hybrid Vehicles
If a company is running fleet vehicles that are probably decades older than the newer generation vehicles currently running on roads, it’s probably smarter and safer to get rid of the older fuel & maintenance hungry vehicles and replace them with newer fleet vehicles that run on hybrid tech which in turns results in lower fuel usage and lesser maintenance costs.
10. Seeking Constant Customer Feedback
Among the many practises that help businesses save money, seeking ways in which customer or client pain points can be addressed and resolved helps a business grow through customer retention. An ideal scenario might be wherein a happy customer or clientele gets the fleet company or the fleet operator more business through referrals.