How to Increase Cash Flow with FleetMatics
No matter the economic climate, cash flow is king for small to medium-sized enterprises (SMEs). If your company is not using a GPS Tracking System to monitor your fleet, you are losing substantial cash flow every hour your fleet is off site… guaranteed!
The FleetMatics GPS Vehicle Tracking Solution can help SMEs with fleet vehicles survive and thrive in the competitive marketplace by increasing cash flow in five ways:
1. Increase Chargeable Hours
When employees know that their vehicles are being tracked, they stop wasting time and complete their assigned jobs in a more efficient manner. By increasing the productivity of your employees, you will be able to complete more jobs and increase customer satisfaction.
In fact, a recent study by Aberdeen Group found that organisations with small fleets experienced a 23% increase in the total number of service calls completed per day per technician once GPS vehicle tracking was installed in their fleets.
With FleetMatics GPS installed, drivers will get to each job site quickly (which makes customers happy) and complete more jobs per day (which makes you happy).
You can even use the information gathered by the FleetMatics GPS Vehicle Tracking Solution as a concrete measure of performance to reward exceptional employees.
"Through increased productivity and reduced wait times, we have saved over £12,000 in our first year with FleetMatics."
Bernie Wood, Operations Administrator/Commercial Manager
ServiceMASTER, 24 Vehicles
2. Decrease Overtime Hours
Overtime pay can be a huge burden on a small- and medium-sized company. While employees should absolutely be paid for all the hours they work, employers need to be absolutely sure that timesheets reflect actual hours worked.
The FleetMatics GPS Vehicle Tracking Solution gives you the ability to automatically track all the hours an employee spends in their vehicle and tells you exactly how long an employee spends at each job site.
With this data, you will know exactly how long an employee has worked on any given day, thus eliminating any mistakes made on manual timesheets.
You pay only for the hours an employee actually worked.
And by increasing employee productivity (see Increase Chargeable Hours above), your business will find that employees will complete more jobs in less time, further reducing overtime hours.
Less overtime means more money for your business.
"In our first year with FleetMatics, we saved over £280,000 in wages costs."
Jim Pitcairin, Managing Director
Clearwater DC, 63 Vehicles
3. Reduce Fuel Costs
The unpredictability of fuels costs can wreak havoc on your bottom line. But even when fuel costs are low, fuel still commands a huge part of a business’ budget.
The FleetMatics GPS Vehicle Tracking Solution provides you with a powerful tool that will pinpoint driver habits that waste fuel. The system shows you which drivers engage in fuel wasting practices including:
- Speeding (a huge source of wasted fuel)
- Excessive idle times
- Unauthorised journeys
- Indirect routing to job sites
In addition, the Nearest Vehicle Locater instantly allows you to deploy vehicles closest to a particular job site. This helps reduce vehicle mileage, as well as reduce fuel consumption.
Less money spent on fuel means more money available to keep your business running.
"In our first year with FleetMatics, we have saved £70,000 in fuel costs through improved operation efficiencies."
James Forsyth, Owner
Forsyth Produce: 33 vehicles
4. Save on Your Phone Bill
Without a GPS solution, the only way to get the location of a fleet vehicle is to make a phone call or send a text message. Repeat calls and messages to multiple drivers can quickly add up to a large communications bill.
With the FleetMatics GPS Vehicle Tracking Solution, you will know the location of every vehicle in real time. With the Nearest Vehicle Locator, you will instantly know which vehicles are closest to any job site for quick deployment.
Instead of wasting time and money on needless calls, you’ll be completing more jobs while reducing your bills.
5. Improve Your Maintenance Schedule
Properly maintaining your fleet vehicles is important to ensure that each vehicle stays on the road and extends the life of your vehicles. A vehicle in for major repairs costs you money in repair work and lost productivity
The FleetMatics GPS Vehicle Tracking Solution provides service alerts based on calendar time, engine-on time or mileage depending on the service needed. These alerts tell you when a vehicle is due for routine maintenance and ensure that you keep your vehicles running in top, fuel-efficient form.
By proactively avoiding mechanical troubles and running vehicles at peak efficiency, your business will keep more money in the bank.
For more information on how FleetMatics can increase your cash flow, call us today at 0118 913 1450 (ENG) or 01698 286580 (SCT).
