Half of all businesses fail within the first five years, and it’s almost always due to money.
Some companies don’t make enough money to pay salaries and maintain operations. Other businesses generate strong top-line revenue only to fall flat on the bottom line. Lowering your expenses helps you stay in business and gain market share.
Investing in a fleet tracking system lowers your costs and saves you time. It’s a game-changer for many fleets looking to stay in business and serve more customers.
We’ll outline some of the reasons to use a GPS fleet tracking system for your fleet.
1. A Fleet Tracking System Reduces Fuel Costs
Your truck fleet needs gas to travel across routes, but not all of the fuel gets used effectively. Bad driving habits such as idling and fast driving burn through more of your reserves.
A GPS fleet tracking system detects inefficiencies so you can address them. Eliminating unnecessary miles lowers trips to the gas station, helping you save on costs.
2. Cost-Effective Maintenance
Every truck needs maintenance to ensure it’s safe for work. You don’t want a driver riding in a dangerous vehicle, and maintenance solves that problem.
However, you can have too much of a good thing. Some trucks go through maintenance protocols even when they don’t need them. Servicing it will cost money even if it doesn’t need maintenance and repairs.
A fleet management system will notify you when it’s time for maintenance and repairs. Companies like Linxup provide tracking that will inform you about maintenance schedules. You can learn more to see how they can assist your truck fleet.
You can get maintenance for trucks when they need it instead of for the sake of it. This practice will save money and keep your trucks on the road.
3. Lower Insurance Premiums
Insurance companies assess a policyholder’s risk before assigning premiums. A skydiving motorcyclist who smokes will get higher premiums than a policyholder who does none of those things.
Fleet insurance takes a similar approach, and a GPS fleet tracking system puts you on their good side. This system provides real-time truck data, which helps reduce workers’ comp and accidental claims and costs.
4. Increase Driver Safety
GPS tracking helps you monitor all of your drivers. The management system detects reckless driving, idling, and other bad habits.
Fleet management systems distinguish between safe and dangerous drivers. You can offer bonuses to safe drivers and provide training for risky drivers. Increased driver safety saves lives and lowers costs from accidents.
5. More Profits
A fleet tracking system lowers costs so you can retain a higher percentage of earnings. Fleet owners can use the proceeds for necessary repairs, new hires, and up-to-date trucks.
Profits provide more flexibility, and a fleet tracking system delivers. You’ll also save time and learn new insights about your drivers.
Grow Your Trucking Company
A fleet tracking system reduces costs and improves performance. Fleet owners want both of those things, and they can get both from a single investment.
Business owners have to make investments to grow their companies. Spending some money on a long-term asset can open new opportunities.
Want to learn more about run-in a successful fleet? Continue reading this blog’s articles for more insights.