Are you using GPS tracking technology for your fleet?
According to the Fleet Technology Trends Report Survey [add link when posting] by Verizon Connect, 72% of fleets in Australia used GPS tracking technology in 2022.
GPS tracking uses cellular and satellite technology to help fleet managers monitor assets and fleet vehicle locations and activities in near real-time.
Fleet managers can know what’s happening out on the field, and see fleet operations and locations at a glance – all valuable insights when it comes to saving business costs.
In this article, we’ll explain the three ways GPS tracking can help your business save costs.
1. Save on fuel consumption
Almost half (49%) of those implementing GPS fleet tracking have lowered their fuel consumption, according to the Verizon Connect survey.
Across all industries, users of GPS tracking decreased their fuel costs by an average of 12%. When you consider how much fuel costs add up, this is a significant saving.
How does it work?
GPS tracking gives you a clear and detailed overview of the fuel consumption of all your vehicles, telling you fuel used, distance travelled, harsh driving events, speeding events, idling, and so on.
These insights mean you can discover if poor fuel efficiency is costing you, identify those vehicles experiencing fuel efficiency issues, or reduce fuel-wasting driver behaviour.
2. Reduce labour costs
GPS tracking can reduce overall labour costs by 15%, according to the survey.
Better route planning helps you avoid traffic jams, driving extra kilometres and multiple stops, which manages your team’s time more efficiently.
You can also get a view of operational data through daily reports, which show how drivers are spending their time, unnecessary stops, route departures, and excessive downtime, and use these insights to streamline schedules.
For example, Verizon Connect lets you replay and compare drivers’ routes.
3. Lower vehicle maintenance costs
Vehicle maintenance costs can be expensive for companies, in particular those with larger fleets.
GPS tracking can help significantly reduce these costs – the survey revealed all industries reduced their vehicle maintenance costs by 14% using the technology.
Combining fleet data with distance travelled can help improve vehicle maintenance efficiency. You’ll know what services need to be done, which are overdue and which vehicles are costing you money. You can set up regular checks and preventative maintenance to reduce wear on your vehicles and minimise maintenance costs.
Did you know you can link your Fleet Card with Verizon Connect?
Integrate your Fleet Card with Verizon Connect’s powerful software solutions to minimise fuel card fraud, monitor fuel spend and reduce fuel wastage behaviour. Learn more [https://www.fleetcard.com.au/partner/verizon-connect/]
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