Fleet Management Software: How Much Money Can It Save Your Business?

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Fleet Management Software: How Much Money Can It Save Your Business?

When the financial crisis hit in 2008, it had an impact on industries across the UK and the rest of the world. Since then there has been plenty of political debate on the impact of austerity on ordinary working people, but UK businesses have been heavily hit too.

When we headed towards the Brexit referendum on 23rd June 2016 the markets were starting to recover. There was some cautious optimism that perhaps business had got through the worst of it and would be able to move forward with greater investment and the potential to expand their workforce.

Of course, 24 June 2016 brought a result that threw us all back into a state of uncertainty. At this stage we don’t know what the British economy will look like after we leave the EU. Whilst none of us are in business to spend money when we don’t need to, the current climate makes it even more important to keep a close eye on the finances and save money where possible. One way of doing that is by reducing unnecessary expenditure on fleet management.

Where Are You Spending Money on Your Fleet?

When your business involves any kind of fleet management there’s always a significant investment involved. Transport managers need to deal with vehicle maintenance, people management and organising deliveries efficiently to name just a few. All of that involves spending money on organisational tools.

The tools that you choose will also have an impact on how your transport manager spends their time. If your software packages are difficult to access or don’t synchronise well with each other that wastes time. Your transport manager will be spending time dealing with ground level administration when they could be improving efficiency.

There’s also the possibility that some of your systems could be losing you money in a much more direct way. We recently carried out an audit for a new client to discover whether fleet management software could save them money. They were shocked to discover that they were losing approximately £1,000 every week in unbilled work. This wasn’t a credit control problem where invoices weren’t being paid. They simply weren’t issued in the first place. A lack of appropriate fleet management software left them with a paper based system which relied on drivers obtaining signatures and returning paperwork to the office. Incomplete or missing paperwork was having a significant impact on their business.

How Can Fleet Management Software Help?

Investing in fleet management software in the right way could transform your business. We found that a number of our clients were already working with some sort of software but that the systems weren’t necessarily working together.

A co-ordinated fleet management software system allows you to track where your vehicles are, work out the most efficient delivery routes and eliminate unnecessary paperwork. It also saves your transport manager time as they don’t have to manually share information between different systems. They simply devise optimal routes and share them throughout the fleet.

This means that you can make savings in terms of employee’s time and fuel usage. Depending on the system you choose you could also make a significant saving (up to 35%) on your vehicle insurance across the fleet.

In uncertain times it makes sense to streamline your systems and save your business money. If you’d like more advice on the right fleet management software system for your business, get in touch with the fleet management experts today.

Paul Cochrane
Paul Cochrane
Paul is the Managing Director of Vtec Solutions. He has expertise in vehicle tracking and fleet management, spanning over a decade and prides himself in understanding business fleet challenges and ensuring fleets are running at their optimum.