Home Business Insights & Advice Is technology the missing key to profitability within today’s fleets?

Is technology the missing key to profitability within today’s fleets?

by John Saunders
19th Aug 19 3:10 pm

When trying to make a go of a small to medium enterprise, the one thing that most owners and directors lament is the high costs of running a business. In fact, any company of any size requires a narrow focus on profitability while ensuring that the end customer or client is not being short-changed in terms of quality and service. Sadly, one of the biggest financial concerns in any industry with a fleet is the high cost involved with operating those vehicles – and that is just the beginning of the woes most fleets are met with. Could technology be the missing key that unlocks the door to higher profitability in today’s fleets? It very well could be just that.

Issues technology can better address

For the best answer to the question of whether or not technology is the missing key to profitability within today’s fleets, let’s look at what a company like FleetGO offers in terms of technology for fleets. As one of the fastest growing technology companies throughout Europe, this company’s technology deals with:

  • Fleet Tracking
  • Mileage Tracking
  • Equipment Tracking
  • Vehicle Diagnostics
  • Trailer Tracking
  • Tachograph Analysis
  • Temperature Monitoring

And, so much more. For example, from one state-of-the-art platform, it is possible to even analyse a vehicle’s TPMS, which is an amazing feature. This is the real time tyre pressure that is significant in terms of both safety and fuel costs. Tyres must be kept, as you are well aware, at a specific pressure for fuel economy. Every commercial driver and many private drivers understand the need to periodically check the pressure to conserve fuel.

Technology as a social statement?

Then there is the fact that today’s consumers have what is being coined a green mentality. More than ever before, both business and private customers are seeking out businesses with a focus on the environment. Technology such as that offered by FleetGO provides tips and solutions for operating a green fleet. The technology implemented monitors driver behaviour as well as a vehicle’s fuel consumption to reduce carbon emissions in keeping with today’s green economy. Indeed, technology can add that extra something to fleet operation and that would be a social statement that consumers are well-concerned with.

Reduction in time and labour

The icing on the cake when it comes to increasing profitability in today’s fleets is the massive reduction in time and labour it provides. With real-time tracking solutions within the software platform, many of those tasks that once involved putting a worker in the field to diagnose, analyse and chart performance can now be done from a central office location. It’s amazing just how this simple reduction in time and labour can boost your bottom line which, as you know, is what keeps your business alive and growing.

Although short and sweet, yes, technology is the missing key to profitability within today’s fleets. If you find that the cost of running a fleet is keeping your profit margin lower than necessary, isn’t it time you researched just what technology can do for your SME’s fleet? You are, after all, living in a hi-tech world. Why not take advantage of all it has to offer? If you don’t see profits rising, then no one’s monitoring the dashboard. That’s a fact.

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