Photo : Kaique Rocha
Does your company have a fleet of vehicles, or is it in the process of buying cars for business use? If so, you’ll want to consider investing in fleet management software.
Fortune Business Insights says in a recent report that the global fleet management software segment was valued at $18.2 billion in 2021. It’s poised to grow at an 18.3% compound annual growth rate, going from $20.73 billion in 2022 to $67.38 billion by 2029.
If you’re going to sink money into vehicles for your business, that means dealing with the costs associated with the purchases, depreciation, gas, insurance, maintenance, and repairs. According to one source, the average cost of a new car is close to $50,000. If you lease multiple vehicles for your fleet, you could save between 10% and 15% or so off the cost of each vehicle.
Sinking money into buying vehicles for your fleet necessitates ensuring that they’re taken care of properly. That way, you’ll get maximum benefit for your investment in assets that will depreciate in valuation. One essential option to help your cause is fleet management software.
Keep reading to learn more about why fleet management software is essential for your business.
Keep Track of All Your Vehicles
Fleet management software is a must if you want to know where your vehicles are at all times. If a customer requires something, knowing where your drivers are is essential. You’ll be able to check the software to see the location of your fleet of vehicles, identify which driver is closest to the customer in question, send the driver dispatch instructions, and notify the customer.
Leveraging the capabilities of fleet management software, you can avoid miscommunications, reduce instances of delivery delays, and achieve higher customer satisfaction. You’ll find it easier to manage your fleet of vehicles since you’ll be able to see them on a single screen.
Reduce Employee Count and Save Money
With fleet management software, you won’t need as many employees monitoring your fleet. In fact, one person might be sufficient to stay on top of the fleet’s performance. Whoever is assigned to handle this task will see all the information needed on a single screen.
Whether the person needs to know where a specific vehicle is or which customers are still waiting for deliveries, it’ll be easy to find the data. It’ll also be easy to comb over the analytics to focus on potential problems like speeding or harsh braking. Get fleet management software to slash your employee count if your business is relatively small and you want to do more with less.
Get Lower Insurance Premium
You can usually qualify for lower insurance premiums if you equip your fleet vehicles with safety technology and features. So, for instance, using fleet management software that makes it easy to find out where your cars are will make it easier to retrieve them if they’re ever stolen.
A lot of stolen vehicles are never found and returned to their owners. But the right tech can prevent your business from becoming another statistic.
Different insurers offer different discounts, so you’ll want to see what deductions are available. Switching to winter tires during the cold weather season and installing vehicle alarms are other ways you can reduce insurance premiums. The savings can add up over time.
If your business has a fleet of vehicles, you must consider fleet management software. Fleet vehicles require a tangible investment, so it’s essential to protect that investment. The analytics you can draw upon will help your business to make informed decisions.
So, fleet management software is worth considering if you want to make the most of your fleet.