How GPS Tracking Can Put Money Back Into Your Business
If you’re in the service industry you would understand the battle of balancing the chequebook of accounts payable and accounts receivable.
If your vehicle fleet isn’t managed adequately positive cash flow will be jeopardised.
Poor fleet management can lead to draining cash flow, leaving the money pot for your business operations dry.
So, how can you prevent this from happening?
GPS tracking technology.
GPS tracking can help you maintain an efficient fleet to ensure expenses are kept to a minimum whilst productivity soars, and cash flow improves. Here’s how –
Fuel economy measures the exact fuel burn off all your vehicles and equipment resulting in a more efficient driving style.
Managers are alerted to inefficient driver behaviour such as excessive idle, RPM, over revving and harsh braking, and can provide drivers live feedback on their performance to reduce fuel burn.
Fuel theft and fraud is a major problem in some businesses, it occurs when drivers over-report their fuel usage to get an increased amount of compensation.
GPS tracking prevents this issue by automatically recording engine data including; engine hours, exact kilometres travelled and time spent in idle so managers have accurate reports to compare with the details reported by employees.
2. Automated Maintenance Scheduling
Managers can schedule the type of service and when its due, and can be alerted to vehicle errors to help identify preventative smaller services rather than larger more expensive ones.
GPS solutions also provide detailed engine data including; mileage records, oil temperature, RPM’s, pressure and odometer readings, so supervisors can have an unprecedented level of knowledge of their fleet at all times.
3. Reducing vehicle theft & tampering
Vehicle tracking technology is the perfect tool to relocate a vehicle after it has been stolen (meaning you won’t have to replace it!).
GPS tracking can also detect and alert managers when a vehicle is being tampered with such as when the trailer door is open, this is important when transporting and delivering goods.
Overall, by improving fuel economy and reducing theft in fuel, vehicles and goods, the amount of savings GPS tracking provides means you will have extra cash to put back into your business.
But that’s not all GPS technology can do, with GPS solutions businesses will also advantage from an increase in productivity.
For some businesses, getting more done means more customers served, evidently increasing cash inflow and customer satisfaction. Here’s how –
1. Utilisation rates
GPS tracking technology provides a range of utilisation reports which show vehicle errors, scheduled maintenance, odometer readings, refuelling times, time spent idle and more.
Managers can compare overall utilisation rates of all vehicles to increase fleet efficiency.
2. Best possible routes
GPS tracking provides managers and drivers live traffic data on a map, with this information drivers can be redirected away from congested traffic zones ensuring deliveries and pick-ups are on time and maintaining customer satisfaction.
Overall, by improving fleet efficiency, jobs will be completed quicker without having to increase expenditure on extra vehicles or drivers.