9 Secrets to Reducing your Fleet Expenses
As a fleet owner, your day-to-day costs can quickly add up. What you don’t know is there are further hidden, expensive...Read more
Most fleet-reliant businesses have at least considered the prospect of implementing some form of fleet management system – be it simple GPS tracking or a more comprehensive telematics solution. Many go on to do so, yet others hesitate and ultimately decide against it.
For the companies that choose not to follow up on their interest, the reasons are often the following:
The list goes on.
While these common concerns may seem understandable, in truth, very few of them are based on real facts. They are just some of the many common, perpetuated myths about fleet tracking and its worth.
Let's separate the myth from the measurable.
It’s no secret that there’s a cost to installing GPS tracking across your fleet. However, this should be seen as an investment rather than simply an outgoing. And as with any investment — the focus should be on the return.
As GPS tracking can help your company to streamline key processes, optimise routes, extend vehicle life and reduce fuel costs, the initial outlay of implanting a system often pales in comparison to the cost-savings it offers.
For example, one Verizon Connect customer, The Box Cleaning Company, saw a £200 per week saving by simply reducing unnecessary fuel use, vehicle time on the road and maintenance costs – something they could not have realised without fleet tracking technology like Verizon Connect Reveal.
Savings like this can be found throughout your business. GPS tracking can help you spot inefficiencies in all areas of your operation, potentially saving money on labour, vehicle maintenance, insurance and fuel.
And it’s not just cost savings that a comprehensive fleet management solution can help a business to achieve – significant increases in revenue due to increased productivity can also be realised. Another Verizon Connect customer, Best Electrical, has gained an additional £60,000 in revenue since implementing fleet management without even having to increase their workforce.
With possible savings and returns like these, adopters of vehicle tracking technology can typically expect to start making a return on their initial investment within a matter of months, so any initial investment costs are often soon recovered.
You can read the rest of our 8 Myths in our eBook here.
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