Saving

How Businesses with Fleets Can Save Money

Having a fleet gives you and your employees the freedom of traveling wherever needed, especially for making deliveries. However, running one can also be costly. The good news is there are several ways for you to reduce these expenses.

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Use the Right Tech

Technology can make tedious tasks much easier. For example, instead of having to balance the numbers on a manual spreadsheet, you can use data analysis to do the hardest calculations. There is other software that will help you keep track of indicators like mileage or fuel usage. Similarly, other software and tools can make fleet management much easier and more effective. You might also decide to have a vehicle camera system in place to help you in your tracking. If you are thinking about putting on in place, you can review a guide on how to choose the right cam system for your fleet to utilize going forward.

Saving on Leasing

If you lease the vehicles, you might decide to extend the cycle, so you don’t have to pay as much each month. If you know you will use the vehicles for more than a couple of years, you might choose to sign a lease agreement for four to five years or even longer. Since the company doesn’t have to find another person to lease the vehicles, you won’t have to pay as much each month. And as long as you keep up the maintenance, the performance of the vehicles should not be affected if you go from a three-year lease to a five year one.

Doing Regular Inspections

It’s important to have your drivers look over the tires each day. Before they leave for a delivery, it’s a good idea to do a general check of things. It’s a good idea to have extra tires on hand in case there is a flat or one of the tires seems to be wearing down faster. The trucks should also have full fuel tanks, especially in the case of longer trips. It’s easy to get stuck in traffic, and the idle time can burn through quite a bit of fuel. You might want to have fuel on site so it is easier to fill up right away.

While the tires and the fuel should be inspected often, it’s good idea to have a general maintenance policy in place as well. This will ensure that your valuable resources are protected from anyone neglecting their duties. Let the employees know about any inspection policies so they will all take on the responsibility of taking care of the equipment, vehicles, and other assets.

Keep an Eye on Costs

From service to fuel to maintenance, the cost of having a fleet can add up quickly. If you aren’t careful, you might find yourself unable to keep up with them. It’s a good idea to keep accurate and detailed records of all spending associated with the fleet. That way, you can see where you need to try to save more and where you are doing well in your spending. Regular fleet management will allow you to save money as well.

John Otero

John Otero is an industry practitioner with more than 15 years of experience in the insurance industry. He has held various senior management roles both in the insurance companies and insurance brokers during this span of time. He began his insurance career in 2004 as an office assistant at an agency in her hometown of Duluth, MN. He got licensed as a producer while working at that agency and progressed to serve as an office manager. Working in the agency is how he fell in love with the industry. He saw firsthand the good that insurance consumers experienced by having the proper protection. John has diverse experience in corporate & consumer insurance services, across a range of vocations. His specialties include Major Corporate risk management and insurance programs, and Financial Lines He has been instrumental in making his firm as one of the leading organizations in the country in generating sustainable rapid growth of the company while maintaining service excellence to clients.