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9 Secrets to Reducing your Fleet Expenses
As a fleet owner, your day-to-day costs can quickly add up. What you don’t know is there are further hidden, expensive...
Read moreWith the UK in the grip of a cost of living crisis, it can feel like there is little you can do to escape rising prices. Inflation currently sits at over 10%, with fuel, utility, lease and mortgage costs on the rise.
For fleet-reliant businesses operating multiple vehicles, depots and office buildings, the impact of these costs can be significant. But while rising prices are largely out of your control, there is plenty you can do to boost efficiency and make savings wherever possible.
Many businesses are turning to GPS fleet management technology to reduce mileage, fuel consumption, waste and more to potentially cut outgoings and increase profitability. Here are just a few ways it can help.
Fuel
Fuel is understandably one of the largest outgoings for many fleet-reliant businesses. Unfortunately, fluctuating prices in recent years have made it increasingly challenging to keep costs in check.
Of course, you can do nothing about the price at the pump. But with a GPS fleet tracking solution, you can spot and reduce wasteful practices such as idling and speeding. At-a-glance vehicle status and automated reporting make it easy to spot and retrain repeat offenders.
Integrating your fuel card with your fleet solution also makes it easy to compare fuel purchased with fuel filled to stamp out fraud.
Driver behaviour
Idling and speeding are just two driver behaviours that can increase your outgoings. Harsh acceleration also increases fuel consumption, while all manner of reckless habits can put you at risk of accidents, repair bills and rising insurance premiums.
With a GPS solution, you can monitor these behaviours to reward top performers and incentivise others to improve. Audible in-cab alerts can also highlight such behaviours as they occur, prompting drivers to take corrective action.
Some insurers offer policy discounts to fleet-reliant businesses just for having a fleet management system in place.
Unnecessary Mileage
When up against rising costs and tightening margins, you want to be sure that you are getting as much value as possible from every mile.
A comprehensive GPS tracking solution can plot each day's routes automatically and efficiently, accounting for load and vehicle type, customer requirements and road conditions, potentially saving both time and money.
As well as helping to reduce unnecessary mileage and associated wear and tear on your vehicles, this approach may also allow you to add more jobs into the working day.
Unauthorised use
Unauthorised use not only has the potential to damage your company's reputation, but driver detours, personal errands and private jobs can quickly drive up your fuel spend, too.
Fleet management technology gives you eyes on your fleet 24 hours a day, so you can be confident that your people and vehicles are where they should be. This level of transparency can also help to track and recover vehicles in the event of theft.
On top of this, virtual geofences can be placed around physical locations such as depots, routes and prohibited areas, so you'll receive an alert whenever a driver veers off track.
Uncover cost savings with Verizon Connect
Visibility and control are two of the most powerful tools when it comes to fighting rising costs. Verizon Connect gives you plenty of both.
Our fleet management solutions help you identify and act on areas of waste and efficiency to identify areas for improvement. Even small changes to driving style, routing, maintenance and more can soon add up to increased productivity and potential savings.
Visit our solutions page to find out more, or book a free demo to see our fleet tracking tech in action.
