How GPS Tracking Can Reduce 2020 Annual Fleet Costs
2 Jan 2020As 2020 has arrived, fleets across the country are searching for new ways to cut costs and improve profits. GPS fleet tracking can be instrumental in bringing on the favorable changes you seek. These are just a few ways it can help your fleet reduce overhead to enjoy better revenue in the year ahead.
Cut Fuel Costs in Numerous Ways
Fuel is one of the largest expenses, aside from labor, that fleets face. GPS fleet tracking can help you reduce your fuel expenditures in several ways, including those listed below.
- Plan more efficient routes.
- Keep fleet drivers on their assigned routes.
- Monitor driver behaviors to reduce speeding, fast acceleration, excessive idling, and other fuel-wasting activities.
- Eliminate route redundancies and double coverage areas.
- Dispatch more efficiently.
- Eliminate moonlighting in company vehicles using company fuel.
Depending on the size of your fleet, the savings to your fleet can be substantial simply by making the switch to GPS fleet tracking.
Reduce Labor Costs
Lost time, otherwise known as time theft costs companies top dollar. When employees take care of personal errands on the company clock, conduct side jobs for their own pockets on company time, or simply go home and take a nap the moment they are outside your field of vision, it costs your money extra. The more frequently these types of activities occur, and the more employees who participate, the greater the cost to your business.
Installing GPS fleet tracking on all fleet vehicles identifies the culprits so you can take disciplinary action, according to company policies, or create policies designed to address the issue. By getting rid of these money-draining activities and employees who continue participating in them, you’re freeing up your fleet to cut costs while accomplishing more in 2020.
Lower Insurance Costs
Insurance companies love GPS fleet tracking and are happy to reward companies that invest in this technology with lower rates. GPS fleet tracking offers many features that insurance companies respect, including:
- Driver behavior monitoring. This provides valuable data to help reduce rewards against the insurance company when accidents occur and helps you to eliminate aggressive and dangerous drivers from your pool.
- Faster recovery in thefts. Because live tracking provides precise location for law enforcement to recover your vehicles.
- Cargo tracking. Provides specific GPS tracking capabilities for high-value cargo, reducing thefts and increasing recoveries when they do occur.
These may seem like small things at first glance. However, when multiplied over the size of your fleet, the savings can add up fast. Implement a GPS fleet tracking solution today to reap these reduced fleet cost benefits. Call us here at LiveViewGPS is you have any questions. 1-888-544-0494
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