Here, we discuss the several ways in which investing in fleet telematics can help your business save money.
Improved driver behaviour
Whenever a fleet driver is involved in a road accident, for instance, a collision with another driver or an object, that member of staff, as well as the fleet they are operating, is taken out of normal operation. This, of course, wastes valuable time and resources, which ends up costing your business money.
By installing modern fleet technology, which includes tracking systems and vehicle cameras, fleet managers can monitor driver behaviour at any time, via the secure cloud platform. This gives them the chance to watch the video recordings and review specific driver conduct or road incidents taking place. If hazardous driving behaviour is detected, the fleet manager may take the necessary disciplinary action or decide that the driver needs further training.
Moreover, the technology can track the specific driving styles of each driver, including whether reasonable speeds are being met, whether the driver is cornering heavily, or braking and accelerating too harshly, or if they are spending too much time idling – all of which could lead to increased costs over time. In many previous case studies, the introduction of fleet telematics has resulted in improved driving styles, with a more moderate approach to braking and accelerating.
With responsible drivers at the helm, accidents are far less likely to occur, which means fewer accident claims, lower insurance premiums and, of course, less vehicle downtime.
Fleet technology can, therefore, help improve driving behaviours, leading to a safer and more efficient workforce, which reduces both the risk and the costs that often transpire as a result of poor or inefficient driving habits.
Fuel efficiency and maintenance checks
Fleet technology also delivers deep insights into the fuel efficiency of fleet, by providing data on fuel consumption habits and making suggestions on how to improve efficiency and reduce carbon footprint. The technology works to continuously monitor carbon emissions and fuel consumption, with efficiency targets set so drivers can attempt to meet them. One previous case study found that the business in question benefited from a £10,000 savings in fuel each month!
Fleet technology also has the ability to alert users when there is a particular vehicle maintenance issue that needs addressing, such as diagnostic engine troubles. By ensuring fleet is constantly being monitored for efficiency and maintenance problems, businesses can lower both fuel intake and repair costs, helping to positively affect their overall bottom line.
Fleet telematics solutions look for the best routes and optimal schedules in order to increase workforce productivity and punctuality, as well as reducing mileage and the time spent on the road. By knowing the exact whereabouts of any vehicle, routes can be planned and scheduled much more effectively.
Live traffic information can also inform fleet drivers of any upcoming delays on the route, suggesting alternative routes which can help save time and fuel. These features help keep the customer happy, by ensuring they are kept in the loop and are aware of delays, as well as providing them with a more accurate arrival time. And, in many instances, with good customer service comes more business opportunities!
There are various different telematics products available, which means there is a solution out there for any type of business operating fleet. Not only do they help in managing the performance of fleet across several key areas, but they also positively impact the businesses’ overall bottom line, by promoting good driver behaviour, fuel efficiency and optimal routes and schedules.
To find out more, check out Fleet-Trak’s fleet savings calculator, which allows you to see how much your business could save by investing in fleet telematics, based on your current mileage and vehicle type.