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Fleet Intuition

The ROI of effective vehicle tracking

Posted by Dwayne Porter on 2019/05/01 11:00 AM
Dwayne Porter

ROI of Vehicle TrackingEffective vehicle tracking is the best way to ensure your fleet is running efficiently. Any changes you make to your fleet should be data-driven, and the best way to collect this data is through proper vehicle tracking. Tracking is data-driven, making it easy to calculate whether tracking is delivering decent ROI for your business.

We can’t say it enough - the economy is under pressure and fleet managers are being questioned about every cent they spend. Fleet managers, in turn, have to be completely certain that every decision they make needs to improve the efficiency of their fleet, without cutting corners.

The only way to ensure all fleet decisions are based on real, dependable data is to employ a robust vehicle tracking system. Precisely what needs to be tracked - and which data collected - will vary depending on the nature of your fleet and purpose of your business. What doesn’t change, however, is the fact that reliable data helps you make the best decisions for your fleet which will have financial implications for your business as a whole.

Below are three key points that highlight how effective tracking saves on fleet costs.

1. Minimising fuel spend

Whether you have two cars on fleet or two hundred, the escalating cost of fuel means you can’t be blase about wasted fuel. With an effective tracking system in place, fleet managers can keep a close eye on fuel inefficiencies by monitoring:

  • Excessive speeding
  • Harsh acceleration
  • Excessive idling
  • Poor route selection
  • Fuel fraud - for example if the vehicle was not at the forecourt when the transaction took place.

2. Route Optimisation

This is a crucial element of keeping costs down and keeping your drivers, vehicles and cargo safe. An experienced fleet partner will help you optimise routes using your vehicle tracking system by factoring in the following:Traffic patterns

  • Road works
  • Fastest route (bearing in mind that fastest may not always be the safest or most efficient)
  • Toll costs
  • Road conditions
  • Availability of rest areas if necessary

To the untrained eye, data used for route optimisation can be messy. Experienced fleet managers and companies, however, know which factors will play a big role on your bottom line, and will use this information to determine the best routes for your fleet. In addition, depending on your business model, these routes can be adapted hourly, daily, weekly or monthly - whichever works best for your fleet.

3. Driver behaviour and training

One of the most important aspects of vehicle tracking, and where you often see impressive ROI, is through monitoring (and adjusting) driver behaviour, and even developing driver guidelines and training based on the data. With a GPS-based tracking system, fleet managers can specify the parameters in which the vehicle is allowed to operate and then control the vehicle. This includes:

  • Automated speed governing per speed zone
  • Excessive automated idle shutdown.
  • Active driver management platforms and dashboards

EQSTRA Fleet Management has a number of clients who have saved up to 19% on fuel just by implementing an effective tracking system and knowing how to interpret the data.When you consider the same tracking system could show similar savings across areas such as maintenance and  tyre and repair costs, the case for vehicle tracking delivering ROI becomes even stronger.

At the end of the day it comes down to the fact that every fleet consists of many moving parts (literally), and tracking is the only effective way to ensure you maintain full control over your fleet spend.

Interested in finding more ways to increase the ROI of your fleet? Contact one of our consultants for expert advice.

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Topics: Cost Saving