There are many benefits to implementing a vehicle tracking solution for your fleet, however, probably the most important one is the ability to save thousands of pounds for your business. In this guide, we’ll be looking at how Fleetsmart’s commercial fleet tracking solutions can help your business to save and make more money.
One of the easiest ways to save money with commercial vehicle tracking is to put an end to unnecessary fuel consumption by monitoring your drivers’ activity through Fleetsmart’s real-time vehicle reports and journey replay.
These tools can give you the full picture of a vehicle’s entire journey, both live and after the journey has been completed. Not only do our vehicle trackers provide accurate location information, they also provide data about the vehicle’s speed, braking, acceleration, idling and stops, so you can see where- and when- their driving style was less than optimal.
This is incredibly valuable information to have as poor driving techniques can result in higher fuel consumption and therefore higher fuel costs.
According to Confused.com, every minute spent idle burns between 1.077 to 2.13 ounces of fuel, adding up to around half a gallon to a gallon of fuel every hour , so keeping idling to a minimum is absolutely essential if you’re looking to reduce fuel costs.
Similarly, drivers that accelerate and brake harshly and rapidly use more fuel than those who drive more smoothly.
With all of the data received, and alerts that notify you of poor driving techniques, you can take action to communicate with drivers where improvements need to be made with more efficient driving styles and according to the Energy Saving Trust, through higher productivity and increased vehicle utilisation, operating costs can fall by 10% every year and fuel use by 15%.
Vehicle tracking commonly acts as a deterrent to drivers who are inclined to speed and drive dangerously, therefore reducing the risk of accidents by making drivers more responsible.
However, if a deterrent isn’t enough, Journey Replay can be used to identify when drivers aren't driving safely, allowing you to take the appropriate disciplinary measures or extra training to reduce the risk of accidents in the future.
By reducing the risk of accidents, you are less likely to have to make an insurance claim, which can cause your insurance cost to skyrocket, or fork out for expensive repairs.
Research by CCTV company Farsight found that a vehicle is stolen every 9 minutes in the UK. Vehicles are also becoming more difficult to recover once stolen as many are shipped overseas and refurbished or repainted with all identification removed, making them almost impossible to trace.
However, with a vehicle tracking system installed, you can see the exact location of your vehicle immediately after you notice it has been stolen, allowing you and the police to locate it and recover it.
By taking these extra steps to prevent your fleet vehicles from being stolen, you can avoid having to make a large claim on your insurance or having to fork out for a new vehicle to replace it.
Many insurance companies offer discounts or better insurance premiums to companies who use fleet management systems as they know that a vehicle with a tracker is a lot less likely to be stolen or perform dangerous driving that could result in an accident.
With lower company vehicle insurance costs across your entire fleet, you could potentially save thousands of pounds.
At Fleetsmart, we expect you to see a return on investment within 90 days, which includes any initial payments and also covers a full year's subscription.
This does of course vary depending on internal business management practice with larger fleets, whereby completing the installations may take longer, however, typical savings experienced per vehicle are £1,000 - £2,000 per annum.
Fleets with a more significant potential for improvement can also expect a much quicker return on investment.
Get in touch with our team of fleet tracking experts today to find out more about how our vehicle tracking technology can help to save your business money.