There are a number of standard reports available when you need to re-evaluate where you can save money on your fleet costs.
The data collected from your GPS tracking device, or In Vehicle Monitoring System (IVMS), provides valuable information and, whichever way you interpret it, could potentially save the company thousands of dollars each year.
There are four types of reports to look out for: insights on driving behaviour, vehicle engine alerts, asset report and time card report.
Insights on Driving Behaviour
Fuel waste and vehicle wear and tear are some of the main reasons why companies are billed for unnecessary costs.
Keeping tabs on your on-road driver’s behaviour on a weekly basis, you can see patterns in the manner they conduct their driving, such as speeding and harsh breaking, and excessive idling, which are conducive to excess fuel consumption. From this information, you can pinpoint personnel who are performing poorly. This brings the opportunity to educate and coach them to see if they make any improvements.
Scheduling regular vehicle maintenance can also help bring significant costs down by avoiding unexpected breakages or on-road calamities.
Research suggested that fuel costs, unplanned expenses, and repair costs can be reduced by more than 15% while using a fleet tracking software.
Vehicle Engine Alerts
While on the road, you can potentially run into a problem with the vehicle engine. Repair costs can be remarkably high and can hurt a business, as it was unplanned and not part of the initial budget.
Receiving alerts to notify you if there is a possible problem with the engine allows you to take appropriate action before the issue gets worse and the cost for replacement becomes more expensive. A mechanic can advise if the repair is urgent or not; if not, then it can wait until the next maintenance check-up to be resolved.
With a vehicle being unused, there is also the loss of revenue coming in. By monitoring engine activity, you can gauge which assets are not being utilised often enough to bear the superfluous upkeep costs.
Asset Report
It is quite daunting not knowing whether your high-value fleet investment is being put to good use or not. Asset Report allows you to have visibility into your fleet, where you are able to see when the vehicle made their last trip and overtime, as well as how often it is being used. From this critical information, you can decide whether to reduce your fleet size or make better use of the vehicles by transferring them elsewhere.
Time Card Report
The Time Card Report can do either one of the two things: it can be used as the driver’s timesheet, or it can be a review chart for the driver’s start and end times, as this information is often overlooked. Employers trust their employees to be honest with their work hours (or don’t want to spend the time on audits), but there may be times when a few hours are added on timesheets, and workers manage to get away with getting paid extra money for the time they did not do.
By auditing the driver’s hours, it can help billing accuracy and time economy.
If you are interested in implementing these reports, our representatives will be more than happy to assist you at 1-300-653-395.
