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How GPS Tracking can reduce costs and increase revenue

How GPS Tracking can reduce costs and increase revenue

Deciding to invest in new technology for your company can be daunting. Many business management tools promise significant savings but are unable to deliver results, leaving business owners and fleet managers at a loss both financially and in terms of productivity.

By reducing fuel usage and maintenance costs and contributing to loss prevention strategies, GPS trackers provide an average ROI of 17:1. The data collected by GPS devices grants business owners and fleet managers insights into driver behavior that enable them to evaluate aspects of their fleet’s operations, in turn allowing them to make changes that will lead to stronger performance and more efficient operations.

Two of the most powerful benefits of GPS tracking are increased revenue and decreased operating costs. Let’s take a look at 6 ways it accomplishes this:

 

  1. Decreasing fuel usage

Did you know that GPS tracking can save you up to eight gallons of fuel per vehicle each month? Many businesses are able to reduce their fuel usage by up to 20% simply by tracking their vehicles.

Being able to monitor your fleet with idle reports, harsh braking, and speeding alerts means you can help your drivers reduce wasteful, unnecessary behaviors. Sharing these reports with employees makes them conscious of driving habits they may not be aware of, which in turn makes them more accountable and affords them the opportunity to become better, more mindful drivers.

Fleet managers can also use their GPS tracking devices to eliminate unauthorized use and create shorter routes between job sites, resulting in more time spent on customers and less time (and fuel) spent on the road.

 

  1. Automating scheduled maintenance

Emergency repairs are a costly, time-consuming problem that can – more often than not – be easily avoided. The most effective GPS tracking systems can help you save money by preventing unexpected repairs using an automated maintenance schedule. By using GPS trackers to automate your maintenance schedule, you can increase the ROI of your preventive maintenance routine by up to 545%.

All you have to do is input your fleet’s maintenance schedule and your GPS fleet tracking software will do the rest by providing reminders for any routine maintenance, including:

  • Oil changes
  • Tire rotations
  • License renewals
  • Preventative maintenance, and more

 

  1. Increased productivity

GPS fleet tracking devices offer insights that help optimize driving routes, allowing you to identify areas where drivers can cut down on time and distance and ensure they are traveling the fastest, most efficient route between job sites.

Live traffic updates also make it possible to quickly spot problem areas, so you can see when the closest vehicle to a service call may get caught in traffic and dispatch a more convenient vehicle instead. This ensures that drivers arrive at calls faster, meaning they can answer more service calls and visit more customers every day – and that means more revenue.

 

  1. Accurate billing

GPS tracking saves you and your fleet time that would otherwise be spent manually logging and recording time worked. Asset tracking devices provide exact records of equipment use, while fleet trackers report how long each worker spends at a job site. Instead of estimating billable hours, these tools make it easy to accurately track time and ensure you capture maximum revenue.

 

  1. More satisfied customers

All of these improvements mean one important thing: your business will operate more smoothly, which means that you can deliver better, faster service to your customers.

Being able to provide accurate ETAs and timely service makes your customers happy, encourages repeat business, and also demonstrates your value and commitment to customer satisfaction to prospective clients.

 

Information is Power

With so many tools and apps available, it can be hard to decide which technology is right for your company. Make sure you choose something that will deliver results for your fleet and a return on your investment. GPS tracking devices have been tried and tested. They are discreet and simple to install, easy to use, and start providing you with valuable insights right away.

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