How to Choose the Best Fuel Management Software For Your Fleet?

Discovering the best fuel management software systems can help optimise your fleet’s performance, improve efficiency, and reduce costs through real-time tracking. So, are you ready to save time, fuel, money, and energy?

Fleet managers! Are you tired of manually measuring your fleet’s fuel consumption and expenses? Do you want to somehow save a lot of time, effort, and money?

Well, you’ve arrived at the right place! 

As the old age goes, “work smarter, not harder”,  you don’t have to generate too much money so that you can waste it. Similarly, your vehicles don’t have to drink too much fuel just to go by!

According to a report by Frost & Sullivan, the global market for fuel management systems is expected to reach $6.09 billion by the end of 2023. And in this blog, we will teach you exactly how you can be a smart contributor to this growth!

We’ll help you make an informed decision while choosing the best fuel management software.

So buckle up, get a cup of coffee, and let’s get started.

What is a Fuel Management Software System? 

Management Guru Peter Ducker once said, “If you can’t measure it, you can’t manage it”. And he couldn’t be more right in just about any walk of life and business.

Even a fuel management software system is all about that particular saying. It is a solution that allows fleet managers to track and monitor their overall fleet’s fuel consumption, expenses, and efficiency.

You can think of fuel monitoring software as a personal trainer for your fleet.

Just like a personal trainer, it tracks your vehicle’s fuel consumption process, checks if you’re meeting the goals you’ve set, and helps you get performance feedback through valuable data arranged in insightful reports.

Why Use Fuel Management System Software with Fleet Management Software?

Through all this training and tracking offered by fuel management system software, you can achieve an optimised performance in your fleet (fuel-wise). You can, therefore, save a lot of time, money, and effort while also reducing the negative environmental impact your fleet has. 

In fact, according to a study by the National Renewable Energy Laboratory, these systems can improve fuel economy by up to 20%. Now, whether you take it as operational savings or even fuel discount is up to you!

At the end of the day, if you want to take your fuel consumption (saving) game to the next level, a fuel management software is a must. It’s like a secret weapon in your arsenal that will kill your competition!

Understanding Why Fuel Management Software Is Important 

In terms of fuel consumption, fuel management software can act like a copilot that can help you make smarter decisions. 

But are you still wondering why integrating your fleet with fuel management software is such a major requirement? Don’t worry – you’ll understand from this section why it is time for your fleet-centric business to step into the 21st Century!

Real-time Fuel Tracking

The primary function of fuel management software is to accurately track fuel consumption and expenses, eliminating the need for manual data entry and reducing the risk of errors.

Cost Savings

Bad fuel consumption behaviour such as excessive idling, overspeeding, and hash speed changes can lead to 15-20% wastage of overall fuel costs. And the only way to reduce this huge fuel wastage and save operational costs is by using fuel management software.

Prevent Fuel Theft

Pilferage and any sort of fuel theft is a major concern for fleet managers. To completely rid your fleet of this problem, you can use fuel monitoring software that can decipher when fuel was filled and ejected from the tank. This can help you manage any anomaly in the fleet’s fuel consumption process.

Better Fleet Performance

Fleet performance is especially improved with any sort of tracking system. After all, fuel tracking software will be able to see how each vehicle’s fuel consumption looks in real-time. It then also creates reports that give a bird’s eye view of the fleet’s performance. It is up to managers to use this information cautiously and improve performance.

Compliance

As long as the fuel management software understands the area’s compliance policies, it can help you keep your fleet compliant with regulations related to emissions and fuel usage. This is another layer of expense reduction since not complying with these strict regulations leads to major fine costs.

Environmental Friendliness

For most modern businesses, it is also important to take care of the environment. And fuel management software is helpful in not only reducing fuel consumption but also lowering the impact this consumption has on the environment.

Building Safer Fleets

You can easily increase fleet safety while trying to reduce fuel costs since you’ll be cutting down on the most harmful practices. Read this blog to know more about this factor.

Important Factors to Consider When Choosing a Fuel Management System Software

Sure, using fuel management software is a real game-changer for any field. However, the game can quickly go in reverse if you’re using an inefficient solution. After all, you’d be paying for it but will not get anything in return!

So, if you want to ensure that your investment is only put in the right place, be sure that the software complies to all the following criteria as per your business requirements.

1. Real-time Data Collection 

Monitoring real-time data should be the first prerequisite of choosing the right fuel management software. Why? Because you will find a lot of tools out there that will only give you weekly/monthly reports, but will not be able to give you real-time data tracking and collection capabilities.  

Tracking live data and fuel consumption details can be important for small features offered by TrackoBit such as an ejection alarm. Moreover, real-time data collection allows you to get a more in-detail understanding of your fleet, allowing you to see more clearly where you need to make changes to reduce fuel consumption.

2. Features and Alerts

Most fuel management software are designed to monitor fuel tank levels and provide basic leak detection, alerting you if there is a problem or concern. However, as with anything, there are numerous alternatives, each with varying degrees of utility. 

Some of the basic features and alerts that you need to will need with your fuel monitoring system are:

• Fuel tank capacity monitoring
• Fuel fill/ejection reports
• Sudden tank activity alerts
• Possible fuel theft alarms

3. Ease of Use

What is the point of using a fuel management software system that is very difficult to understand and operate? In today’s time, User Experience is very important to integrate within the software, otherwise, no one will stay. 

Therefore, if you really like the software but it is so complex to use that you will need weeks of training to get it – let it go! 

4. Compatibility

A good fleet fuel management software should be able to function on multiple device types. To be able to support completely remote-centric operations, compatibility with computers and mobiles is a must.  

Moreover, while this is seldom a problem, the software should also be able to monitor any vehicle and its fuel tank type.

5. Reporting Capabilities

Since monitoring and management are the two major reasons why you are willing to use a fuel management software, the kind of reports it generates is crucial. Make sure that the software is able to give you reports as wide as total fleet fuel consumption to as small as real-time fuel consumption graphs. Reports like consumption, vehicle idling, overspeeding, and ejection are crucial. 

6. Robustness 

Robustness can be measured in two ways – its safety against cyber threats and its capability to stay functional at all times. 

When choosing fuel management software for your fleet, make sure that it is as hacking-proof as possible. After all, you will be storing all your fleet’s information in this software. And some of this information can actually be sensitive. 

Similarly, if you are using the software for its real-time capabilities, if it keeps crashing now and then, the whole point goes moot, right? Make sure that the software in question has little to no downtime. 

7. Customer Support

Good customer support is essential when it comes to using a fuel management system software. 

Look for a provider that offers 24/7 customer support and training, so you can get help whenever you need it. After all, you will only be able to enjoy real-time data tracking if you can get solutions with all problems in real-time as well, right? 

8. Price

When running a business, getting the right ROI and getting to the breaking point as quickly as possible is essential. 

Of course, price is always a factor when choosing any software. Look for a fuel management system software that offers a good balance of features and affordability, and that fits within your budget. 

Don’t Waste Another Drop of Fuel With TrackoBit! 

“An investment in knowledge pays the best interest” – Benjamin Franklin

Investing in the right fuel management system software helps you gain the right knowledge you need in terms of data. Insights, and reports. You get to learn about your fleet’s fuel usage and expenses and hence, can make informed and strategic decisions.

Therefore, while choosing the right fleet management software, you need to work with a company that understands your need for information. At TrackoBit, we offer a wide array of telematics solutions that help optimise fuel efficiency.

So since you’re looking for a robust fuel management system software, why not give TrackoBit a try? Contact us now and learn how we can help you take your business to the next level.

Get your demo here now.