Finding ways to save money is a smart move when you run a business, especially if you have fleet management needs. After all, the less you spend, the more of your profits you get to enjoy.
However, you can’t just cut costs left, right, and centre, otherwise you risk negatively impacting your company’s quality of work. You have to find areas where savings can be made that won’t hinder the reputation and efficiency of your business.
For those looking to save money with regards to fleet management, these are the four cost-saving tips that we’d suggest.
Managed Funding
In regards to vehicle funding, there’s one option that always stands out as the best solution – managed funding. If this isn’t something that your business is currently utilising, you may wish to consider changing that for the sake of the financial benefits. Not only does it make leasing costs lower, but it also reduces the payments that would be required for service, maintenance, and repair. That, combined with the greater flexibility and less downtime it also offers, makes managed funding an incredibly smart and cost-effective move.
Fuel-Efficient Driving
Fuel-efficient driving is crucial when it comes to saving your business money, and it can be achieved in a multitude of ways. This includes keeping tyres at the right pressure, reducing air conditioning use, and driving slower at every opportunity. Another way to improve fuel efficiency is to ensure that mileage is as low as possible. The shorter the distance someone has to travel to reach their destination, the less fuel that’s wasted. This can be accomplished through the right vehicle tracking software, or through mileage audits. Employees tend to fear the latter, and therefore, are typically more efficient when driving.
Maintenance Management & Accident Management
Regular maintenance of your vehicles is crucial to ensure they operate as efficiently as possible, reducing costly repairs.
In addition, if an accident occurs then a streamlined cost-saving process can reduce downtime and ensure that the situation is dealt with quickly and efficiently. A fleet accident management service will help to keep your drivers moving and costs kept to a minimum.
Outsource Fleet Software
Without the right software, managing a fleet becomes an impossible task. As important as this is, though, there’s no need to purchase and operate your own software. You’ll find that the most cost-effective method for managing everything comes from outsourcing. With the right fleet connected software, you have the benefit of on-demand reporting, driver communication, accident management, and a bunch of other useful tools. All the while, you keep costs lower and save yourself time, making your business more efficient than ever.
A leading fleet management provider will look for innovative ways to connect drivers with the latest technology and ensure everything is fully tracked and auditable. This is true of Total Motion’s new Communication Hub which offers a complete fleet management solution for businesses.
Your business can’t thrive without making profits, so finding ways to cut down on costs will always be essential. Fortunately, if you apply these tips, you should find that you start making more money without losing any of the quality, efficiency, and productivity in your business.