It is essential to evaluate your fleet operations’ success year over year and also how it compares to other operators, to remain competitive and profitable. One way to track your progress is by setting benchmarks and process to support it. The benchmark is an important metric to which data can be compared to determine how the fleet operations are performing. With benchmarks you track your operation costs better, determine vehicle replacement time and also compare with other operations.
Operating Costs can be Tracked. Operating costs include a host of factors that include labour costs to vehicle downtime and more. Measure your fleet operations to determine its performance and to ensure your company is on the right track. A company’s fleet manager constantly works to find ways to economise operations and improve the ROI.
Replace Vehicles on time. By tracking the costs on each vehicle, you can prevent overspend on an asset. The benchmark will help identify the vehicles you are spending more than necessary. If fuel expenses, repairs and parts are more than they should be, then it is time to replace the asset, as it has become too expensive to keep it running. On the other hand, if an older vehicle is not expensive to run as per the benchmark, you can keep the vehicle active in the fleet for more time.
Compare with other operators. Keep your benchmarks as per industry benchmarks, to help you determine how your operations compare with other operators. By tracking your data and comparing with benchmarks, you’ll know if you are spending more on labour, repairs or parts and whether vehicle downtime is longer than others. Update information and benchmarks will help you evaluate your internal process and help to make changes, if necessary.
An effective fleet management software (FMS) is needed to help your vehicles perform well and generate the income required for your company. The fleet management program can use benchmarks to manage, compare and improve your fleet business and identify cost savings. Modern Fleet Management Solutions use telematics in helping to diagnose fleet vehicle condition and maintenance issues. With the help of benchmarks and GPS enabled telematics, remote monitoring of vehicles will lead to better vehicle utilisation and better driver management, which all add to cost savings and a better ROI.
Trinetra’s FMS software uses a telematics effectively and is a web-based platform for easy accessibility. With mobile app integration, it has many benefits to streamline and economically run fleet operations for any industry. Pick up more about Trinetra Wireless products at our website (https://www.trinetrawireless.com/features/overview/). Just request for a Demo and our team will respond as soon as possible to you.