9 Tips To Save Your Business Money With GPS Tracking Software

save your business money with gps tracking software

GPS tracking will help you save money, ensure optimal fleet operation, and provide key metrics and data to improve your fleet’s trips.

Is your company struggling to be in sync with truck and driver activities? Why not utilise the efficiency of GPS tracking software?

Confused as to what are we talking about?

Let me paint a vivid picture of the powers of GPS tracking for you.

Imagine being in sync with your fleet’s and employees’ activities without constantly calling them for updates. Without lifting your finger longer than a second, you can have access to metrics that would have otherwise taken months to gather and comprehend.

How wonderful, right? – always being productive and efficient without breaking into sweat and tears. (The only downside is that in your award acceptance speech, you cannot say that successful trips were the price of your blood, sweat, and tears.)

What is GPS Tracking or GPS Tracking Software?

It’s 2023, an age where GPS tracking is a dire necessity. But still, if you are unclear about its usage, let us help you.

GPS tracking tools help fleet owners like you stay in sync with vehicle activities remotely. Thus keeping you updated on information like the vehicle’s location, routes undertaken, monitoring driver behaviour, and tracking fuel consumption. It helps to ensure the safety of drivers and vehicles.

The best GPS tracking software is cloud-based and helps drivers and managers communicate with descriptive and predictive analysis. This is vital for improving key metrics and for tracking.

How do Gps Tracking software work

How is GPS Tracking Software Helping Your Business Save Money?

GPS tracking software comes with a suite of solutions that are responsible for further improving operations and reducing excess costs for businesses. If you are a fleet-led business, this blog should be the final straw before deciding to invest in one.

Reduce Fuel Consumption

The average operating cost per truck is about $1.82 per mile.

Fuel is one of the prime expenses when working with a fleet. Reducing fuel usage can have a significant overall reduction in expenses. 

FYI: Fuel makes up over 60% of a fleet’s operating budget

GPS tracking software does so through solutions like monitoring fuel consumption, assigning optimised routes, monitoring driver behaviour, and curbing excessive fuel consumption practices.

Prevent Driver Overtime 

When talking in terms of productivity, driving overtime is a good thing. But when it comes to efficiency, the employees are most productive for 40 hours a week. So when they’re working more than that, the business will likely lose money.

And because you are using GPS tracking, there is also no need for your drivers to be driving extra as the routes are optimised. This allows them to make deliveries quickly. Also, according to the law, ELD prevents drivers from being behind the wheel for several hours. If not followed can lead to fines which GPS tracking can save you from.

Increase Employee Productivity

To help your drivers or riders make one extra stop or delivery, you need to plan their routes optimally. Reduce chances of winding roads by using route optimisation solutions. This way the drivers will be able to deliver orders on time.

Additionally, since they have all the required information about the task before them, the chances of indulging in admin tasks reduce. This way, the employees can stay productive throughout. 

Avoid Harmful Practices

Overspeeding causes excessive fuel consumption and puts the vehicle’s health and driver safety at risk. Harmful driving practices speed up the wear and tear of the vehicles. 

But with proper GPS tracking software, chances of unnecessary acceleration or overspeeding are reduced. Also, repair costs can be brought down drastically.

Receive Lower Insurance Rates

Insurance companies know that fleets using GPS tracking have lower chances of getting into accidents or any other damaging incident.

This will cause most insurers to give you discounted premiums. And in the future, your fleet insurance premiums are likely to drop further because safer driving and well-maintained vehicles translate to fewer insurance claims.

Eliminate Paper Logs

With the GPS fleet tracking software in place, you can track and detect when drivers deviate from the assigned route or are idling for too long. Now this is not possible when you manually manage your fleet on paper. A digital log is a way to determine your fleet’s efficiency.

By doing away with paperwork and opting for the digitalisation of fleet tracking, you are bound to save big bucks. As GPS tracking system provides greater visibility of the fleet’s actions in real-time. The system detects bad driving practices, and timely vehicle maintenance can eliminate the chances of paying fines or breakdown costs.

Monitor Driver Activities

Do you suspect your drivers might be indulging in risky driving practices (like harsh cornering)?  Do you want some solid proof to avoid the expenses associated with them?

Well, well, we got you covered. With driver behaviour monitoring solutions and video telematics software, managers can monitor the activities and driving practices of the drivers. This way, managers can prevent fines and accident costs as the system notifies them whenever drivers change lanes frequently, overspeeding or ignoring red lights. 

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Reduce Your Operating Costs

Monitoring, curbing idling, route optimisation, and behaviour monitoring are some of the things managers can do to lower their operational expenditures.

For example, Idling causes a heavy-duty truck to consume about 0.8 gallons of fuel per hour.

The GPS tracking software also uses AI, which helps with preventive maintenance. It allows managers to schedule maintenance and repair of trucks before they reach their breaking point, which is more expensive.

Improve Safety and Driver Responsibility

Accidents are mostly due to human errors and put the safety of drivers and vehicles at risk. And that is why managers are urged to resort to video telematics software and driver behaviour solutions. With the help of alerts and notifications, managers are aware of the non-compliant activity of the drivers.

This way, there is a decrease in fuel consumption. Additionally, chances of breakdowns, accidents, and fines can be eliminated.

Alexa Play – “For The Love Of Money” by The O’Jays

Are your expenses more than your revenue? Are you tired of paying fuel bills because you were unaware of the money-saving method – GPS tracking software?

Prevent your drivers from ramming their vehicles into another. And assign an optimised route so that the fuel consumption is not more than it needs to be.

TrackoBit can be your man in this game. It’s the best GPS tracking software offering all the money-saving tools and solutions in one place.

Do not believe us – Google it or schedule a demo!

9 Tips To Save Your Business Money With GPS Tracking Software

Tithi Agarwal

Tithi Agarwal is a content writer at TrackoBit. She enjoys writing blogs which are knowledgeable yet fun to read. And when she is not typing away to glory she has her nose buried in books.

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