Increasing Your ROI and Net Income Through GPS Fleet Tracking

Business costs can affect a company’s net income. There are a few ways that a company can boost its net income. This can be done by either increasing revenue or decreasing expenses. The easiest and most effective way is the latter. Doing so will allow a company to reduce costs on their income statements. With this, they can increase their net income and the increased net income allows them to invest in other aspects of the business.

One common expense for businesses is the management of their fleet. These expenses can come in the form of labor and mobile assets like cars, trucks, vans, airplanes and boats. It also comes from insurance, as all company vehicles and many assets must be insure.

Fortunately, there is an easy way for businesses to decrease their fleet management costs. GPS technology is considered to be one of the most efficient methods for fleet tracking and management. GPS tracking allows businesses to oversee and handle an inconsistent environment efficiently without the need to hire more people. 

Customer demands, weather, equipment availability, breakdowns and traffic are among the many variables that come with managing a fleet. GPS tracking technology allows dispatchers to locate vehicles in real time and within an accuracy of a few feet. With higher quality GPS trackers additional data is collected, reported, and recorded about the driver’s driving and the vehicle’s condition. These include the vehicle’s speed, battery and fuel levels, and odometer readings and if the driver is speeding, accelerating rapidly, braking harshly, or idling.

Additionally, GPS tracking can help businesses cut down on expenses by reducing gas consumption. Through tracking a driver’s behavior in regards to acceleration, braking, idling, and routes taken, drivers will have to change their driving style to become a more fuel efficient driver. In addition to helping employees become more fuel efficient drivers, the maps provided by the fleet management system will assist them in getting directions and arriving at their destination quickly. With GPS maps, drivers will be able to locate alternate routes in the situation of construction or an accident. It also allows the fleet management to direct them in how best to get to their destination and avoid getting caught in slow to non-moving traffic. By finding the most direct and quickest routes, less fuel will be used, thus decreasing the expense of fuel by the company.

Fleet tracking systems allow companies to determine if drivers violate traffic rules frequently. With the GPS trackers that hook into the vehicles’ OBD system, similar to Land Air Sea’s fleet tracking devices, it is immediately reported to fleet management when a driver is speeding or driving recklessly. They can also identify drivers who are not working productively. The GPS trackers report the real-time position and speed to fleet management who easily identify if a vehicle is idling and for how long it has been idling. They will also be able to track whether or not employees are taking breaks and the duration frequency of the breaks. The lack of productivity of employees is a big waste of resources. A GPS tracking system can help drivers feel a greater sense of responsibility and to be more productive. It also makes fleet management aware of these problems, thus allowing them to fix the problems before they create more expenses for companies.

In the case of an accident, a GPS tracking device and system provides additional data to help in the analysis of the accident. With this, they can provide police and insurance companies with accurate information that can be useful when claims need to be processed. GPS tracking systems also come with a theft reporting feature that helps companies reduce insurance costs. GPS trackers and tracking systems also have the feature that in the circumstance of theft, the fleet manager can shut down the vehicle remotely, thus disallowing the thief to further move it. The GPS device also assists in the recovery of the vehicle by revealing its location, thus reducing the recovery time. With this, the police have a greater chance of finding and recovering stolen vehicles.

GPS tracking systems help companies deliver improved customer service. This technology allows them to promptly and accurately respond to customer queries when they ask about the arrival times and location of service vehicles. GPS systems come with real-time maps that can determine the vehicle's exact locations in just a few seconds. This allows for accurate predictions of employee arrivals. It also helps. As a result, customers gain a favorable impression of the company. It also means that businesses can deliver their products and services to a large number of customers in a shorter amount of time. Also, in the case of emergency calls, a fleet manager can quickly analyze the location of all vehicles and their current tasks and schedules and quickly decide which servicemen to send to the emergency and when he/she will be arriving.

New GPS technology for fleet management can be a bit costly up front, but the return on investment (ROI) is far more valuable. Land Air Sea helps businesses obtain quality GPS trackers and tracking systems. Land Air Sea offers cutting edge GPS fleet tracking technology that helps companies boost their net income by cutting down labor and vehicle maintenance expenses. Business owners should remember that every vehicle they send on the road is an investment. GPS fleet tracking technology can help every business that utilizes company vehicles save money, increase productivity, and improve customer service.