Some business owners and managers look at the addition of a fleet tracking system like Geomoto as an additional cost to their bottom line. Even when they are sold on the idea of tracking their vehicles, they simply weigh the perceived benefits and deduce whether or not they were willing to pay the additional cost to put the system in place.
What they are missing is that the acquisition of a fleet tracking system is actually an investment in the operational efficiency of the fleet. So what exactly does that mean? Let’s unpack it from strictly a cost savings perspective.
Proper use of a tracking solution will allow the fleet managers and administrators to track usage of each individual vehicle. The simple application here is to determine which vehicles in your fleet are wasting fuel. This can be through idling, excessive acceleration, or exceeding fuel efficient speeds. It has been shown that a single fleet vehicle can waste up to 800 gallons of fuel from unnecessary idling alone! At our current fuel prices that is approximately $2,400 per year per vehicle!
A fleet tracking system can help cut costs on vehicle maintenance. The system can mitigate factors like hard driving or risky driver behavior reducing a fleet’s exposure to major – and majorly expensive – repairs.
At this point it’s a matter of simple arithmetic. Simply project your cost savings from fuel, maintenance and labor costs. Then compare them to the price of the fleet tracking system.