Fleet Management Technology to Reduce Costs

If you’re interested in cutting costs in order to grow your fleet or just to increase the ROI for the one you already own, using a fleet management software solution can make that dream a reality. Here’s how. 

Save Fuel

Fuel is by far the biggest cost associated with a fleet of vehicles, and to make the most of your fuel resources, your fleet must be monitored for waste. 

Fuel can be conserved with fleet management software in four major ways: 

• Speed - A vehicle that gets 7 miles a gallon at 85 mph gets 6 mpg at 75—and each 5 mph decrease in speed saves fuel cost by $0.19. Fleet management software collects data on the speed of vehicles across an entire fleet that can help managers coach drivers to keep speeding down and fuel cost lower. 
  
  
• Idling - An idling truck burns up to half a gallon of fuel per hour. Data that’s collected using fleet management software can identify excessive idling and allow managers to determine the reason and help correct the issue. 
  
  
• Routing - A huge amount of fuel is burned every year due to road construction, traffic, and incorrect dispatching for the shortest route available. Fleet management software delivers real-time GPS tracking to dispatchers and drivers so they can avoid wasting fuel due to routing issues.
  
  
• Driver Behavior - Drivers who speed or accelerate quickly from a stop waste fuel. Speeding against posted limits or company policy—even intermittently—can trigger warnings from within fleet management software connected to cameras mounted outside vehicles that curtail behavior that wastes fuel resources.    

Fleets that utilize fleet management software have a better handle on how much fuel they consume by the week, month, and year so that they can correct issues before they get out of hand. As well, reporting for stakeholders and audits are easy to produce and analyze for planning purposes. 

Save Costs from Unexpected & Excessive Maintenance

Maintenance costs vary and are unpredictable. However, fleets that can prevent unexpected or excessive maintenance on their vehicles save on the ever-increasing cost of repairing and replacing vehicles. 

That’s where preventive maintenance comes in. But how do you keep track of warranties, oil change schedules, and mileage on each component for every vehicle in an entire fleet? 

Fleet management software that provides managers and drivers with data like: 

• Miles driven - Notifications for each vehicle when preventive maintenance is scheduled or needed based on warranties (even for each major part) are a huge benefit of fleet management software and can prevent massive costs associated with emergency repairs and vehicle replacements. 
  
  
• Driver Behavior - Hard braking, quick acceleration, and minor tire damage from hitting curbs and large bumps all create extra wear and tear on brakes, tires, fuel systems, and engines. Fleet management software camera solutions can identify this behavior so that analysis and/or repairs can be scheduled in advance of an emergency breakdown that could cost way more. 

Fleet management software allows fleet managers to keep track of individual vehicle data so they can make the right decisions about maintenance. This helps keep a fleet in top condition and increases ROI on vehicles and all their parts. 

Save on Insurance Claims 

Insurance claims that cost money in legal issues and damages add up fast if accidents and collisions aren't investigated objectively. Costs can mount up around claims, such as: 

• Workers Compensation -Claims for employee injuries due to collisions and motor vehicle accidents.
  
  
• Vehicle Repairs - Claims for vehicle damage due to a collision.
  
  
• Auto Liability - Claims for third-party bodily injury or property damage due to a collision.

Videos from dash cams are powerful tools that control costs because they provide objective proof of fault. They can show exactly what happened before, during, and after an accident. This cuts the cost associated with the hundreds of hours spent investigating collision and accident claims. Video can literally prevent false claims altogether. 

Video from dash cams connected to the Nexxo Fleet software can be collected and used to coach drivers in order to prevent accidents from happening in the first place. 

As well, it alerts drivers in real time of distraction events, speeding, tailgating, and more. This not only prevents collisions (which saves on insurance costs, repairs, and vehicle replacements), it also increases safe driving habits which has the power to make a huge, positive impact on the ROI of a fleet that uses the Nexxo Fleet software with dashcam solutions. 

Choosing the Right Fleet Management Solution

The size of your fleet makes a big difference in determining which issue pulls the hardest on your ROI. 

Small fleet owners are most often concerned with saving on fuel cost, while a large fleet is more concerned about protecting themselves in case of collisions (which happen more often when you have more vehicles). 

Either way, a customizable fleet management software solution like Nexxo Fleet protects your fleet, your drivers, your resources, and your ROI by allowing you to have any level of control over your fleet you need—and to upgrade as needed at any time. Our top-of-the-line Nexxo Fleet support team is behind you every step of the way. 

Contact us to find out how our fleet management software can help you manage cost and boost the ROI of your specific fleet.