Misc

Guaranteed ROI by Optimizing, Analyzing, Emphasizing

By March 10, 2015 No Comments

Whether you’re considering deploying a fleet management system or already have one in place, you may be seeking validation in where the return on investment value will be found.  Not the soft benefits or the cost avoidance benefits but true, HARD dollar savings. The answer is found in the data generated and flowing into the reports and the alerts received and sent measuring specific key performance indicators (KPIs) from the fleet tracking system.

Reports

With reams of data flowing into your organization on the performance of your assets and workforce, it’s time to make meaning of the fleet tracking.

  • Where do you begin to drill down into the results that will provide you actionable insights about your business?
  • What patterns should you be looking for in vehicle tracking?
  • What’s the methodology to determine impact to the organization (costing, safety, etc.)?

Though this may seem like a daunting task when your organization does not have the bandwidth or resources to allocate to strong fleet management, an experienced service provider should be able to provide guidance or alternatively provide a managed service to deliver this type of analysis to your organization.

One of the most used and measurable alerts is the Idling Alert. Idling Alerts will unequivocally aid in the reduction of fuel costs – GUARANTEED.

Alerts   

Configuring alerts to conform to your business processes will deliver significant ROI for fleet management. Alerts can be configured to automatically send proactive messages to key stakeholders email (management, admin, even drivers) or to the drivers Garmin device. Alerts can be very specific by selecting only certain vehicles, certain times, certain days, vehicles in certain landmark groups and any combination thereof.

Reduce Idling to Reduce Fuel Waste

Let’s do the math – If you want to achieve an immediate ROI, reducing idling time per vehicle from 1 hour a day to 20 minutes can result in significant savings. With average fuel costs at $0.95 per liter (with a 25-35% increase looming) making your drivers cognizant by sending them an automated alert will have a significant impact to the organization and its idle time reduction program. Other KPIs such speeding infractions and odd hours alerts can positively and dramatically impact your fuel reduction program by utilizing relevant alerts.

True optimization can only occur from analyzing the data collected and then emphasizing best practices for fleet optimization. We have clients that have obtained a 100-300% return on investment by subscribing to the fuel reduction methodologies developed by Storm Telematics. This does not take into account productivity gains, reduced labor costs, increased safety improved customer service that is attributable to the programs offered by Storm. In the current economic conditions, take the opportunity to refine your internal processes. Seize the moment and develop a program that will create efficiencies and cost savings in preparation for the market recovery that will undoubtedly occur.

We hope you find our blog to be informative and interesting.

Would you like to speak with us to learn how we may assist you in optimizing your assets and fleet? Kindly schedule a time to speak with us by visiting our online calendar and choose a time that is convenient for you or you may call us right now at 877-309-8354.

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