Anyone who runs a fleet of vehicles will understand how the operating costs add up and lower the profit margins of your business. If you can figure out how to lower your operating costs, you can increase profits. You have some simple steps that you can take and some require a more intensive effort but will translate to higher savings.
Save Money with Fuel Cards
Most seasoned businesses have learned buying gas with fuel cards proves a central strategy to saving cash. The fixed price of fuel links itself closely to the wholesale fuel market, which means that you receive the most competitive fuel prices. Not only do you receive fuel at a discounted rate, but you can more easily track how the vehicles get driven. Provided you use the right fuel card, the price of fuel will sit well below what you would otherwise pay at the pump. At the same time, paying with a card reduces the risk of becoming a target. Many people who pay with cash at a truck stop increase the risk of robbery.
GPS Fleet Tracking Software
You can eliminate guesswork and optimize your routes with GPS fleet tracking software. The software also ensures that your drivers don’t take unnecessary liberties that would cost your company money. Overall, the tracking software improves productivity because it ensures that workers remain on task. You can monitor driver behavior to ensure the best driving practices. Most GPS fleet tracking software will give you a digital maintenance program to ensure that you maintain your fleet well to prevent unnecessary accidents. This software prevents theft at the same time. Since your business vehicles will be one of the most expensive assets at your company, you should see GPS tracking as a valuable tool. You will receive instant alerts if you see a vehicle operating outside of its designated area.
Educate and Train Your Drivers
You want to save as much as possible, but it will require you to train your drivers on the best driving practices. Drivers can have a big impact on how much fuel gets saved. Some of the best practices include keeping your speed down and not accelerating too hard since this burns fuel quickly. You should also encourage drivers to report squeaks, rattles, and clunks as early as possible since this issue can quickly snowball into far more expensive problems. Your team should also be educated on how to keep vehicles safe when they are unattended or operating in high crime areas. This is best practices for the protection of your fleet, and your drivers.
Lower the Vehicles in Your Fleet
You may think how obvious that sounds, but many fleets don’t require all the vehicles that they have. Oftentimes, you will realize how you can eliminate some of the vehicles to save on car expenses, maintenance, and operating costs. You want to carry out a thorough assessment before doing this, however, because of how it may hinder your ability to expand later. Make sure that it won’t cause problems to where you would need to increase the number of vehicles. The increased workload on the remaining vehicles should also be considered because of how it can impact the costs with higher maintenance.