With fuel prices on the rise and ever-growing fleet costs, reducing your expenses and maintaining your budget is a vital part of your job. Whether you manage ten vehicles or hundreds, you need to use your resources to keep costs low.
While there are endless ways to save, one of the most effective methods is to use the telematics devices you have installed in your vehicles. With the data and capabilities offered by your telematics, you can create a plan and find an effective way to manage your financial resources.
1. Educate your drivers
Your drivers may not ever care as much about the company as management does, but your telematics data can give your drivers a better idea of the financial cost of their actions. Most telematics devices, such as the Geotab GO, track excessive idling, poor routing, and other costly behaviors. By using this information to train your drivers for better driving behaviors, you can educate them on the simple ways to help the fleet save money.
2. Prolong vehicle life
You run your vehicles hard because you have no other choice. With thousands of miles added to each vehicle every year, it’s important to keep them in the best condition. This much wear, however, means that problems are inevitable. Many telematics devices now offer vehicle health options, such as engine diagnostics and tire monitoring. While you can’t completely avoid repairs and tune-ups, you can catch issues before they become dangerous or expensive. Your telematics can also help you follow regular maintenance schedules, helping you keep your vehicles in the best shape possible.
3. Avoid accident costs
Vehicle accidents often have damaging effects, but accidents involving company vehicles also have significant financial costs. While you can’t control the actions of other drivers, you can train your employees to avoid distractions, improve their responses, and minimize their risks on the road. Fewer accidents means lower insurance costs, decreased downtime, and less spent on repairs, so maximizing your telematics safety features to protect your drivers can offer significant savings.
Telematics continue to advance and improve, offering more opportunities to decrease your fleet costs. How do you use your telematics data to save?