Using fleet management tools such as vehicle tracking systems is essential to increasing profitability and visibility for a commercial organisation. Business vehicle tracking offers more benefits beyond monitoring real-time fleet performance online; it also allows organisations to streamline back-office processes, improve road safety and generate significant, long-term savings.

As a business, here’s three ways investing in vehicle tracking systems will save you money over time:

1. Improve driving behaviour

A common driving behaviour that is responsible for fuel waste and increased vehicle maintenance costs is irresponsible driving. Harsh acceleration and speeding is hazardous and can cause severe incidents on the road. Vehicle tracking systems allow remote monitoring of an individual’s driving behaviour: Once poor driving habits are identified, necessary steps can be taken to retain repeat offenders.

As with any new business initiative, it is essential to communicate the change to the employees, along with explaining objectives and benefits to the team to prevent feelings of distrust. This knowledge and awareness of the vehicle tracker having been installed alone will improve driving behaviour in some cases.

Employing complementary smart technology such as in-cab coaching will ensure the drivers receive real-time audible and visual feedback, allowing them to correct themselves in real-time while also identifying any consistent mistakes or poor behaviours they are displaying. Long term benefits of such technologies allow managers to reward those demonstrating best driving practices.

Improving driver behaviour will help your business:

  • reduce fuel costs;
  • reduce maintenance costs;
  • reduce serious incidents.

2. Decrease travel time

Optimising fleet routes is essential in cutting fuel costs. Vehicle tracking software provides managers with in-depth analysis of historic driver journeys: managers can review this information when making strategic decisions, such as deciding on the best stationing locations for the drivers at specific times of the day or planning shortest and most efficient routes.

Shortening travel times will not only increase cost-efficiency but also open up mobile team’s schedule for new customer deliveries.

Decreasing travel time will help your business:

  • become cost-efficient;
  • open your services to more new customers;
  • improve customer service experience to current customers.

3. Negotiate better insurance premiums

In an instance of an accident the longer it takes for the incident to be reported, the higher the cost of the claim. Some vehicle tracking systems can help with reducing this cost via automated collision detection and in-cab driver assistance.

In the event of an incident, an instant report is generated detailing the position of the vehicle and the strength of the collision. Additionally, the software also allows a direct line of communication between the driver and the claims handler. These functionalities combined will help your business reduce the costs incurred by delayed first notification of loss (FNoL).

Additionally, setting benchmarks on road safety over a set time-frame can help to negotiate better insurance prices with your provider.

Negotiating insurance premiums will help your business:

  • lower premium costs;
  • reduce costs of FNoL.

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