GPS Tracking Cameras Generate Quantifiable ROI
The cornerstone of a thorough, compliant fleet management solution starts with GPS tracking cameras. GPS fleet tracking solutions started growing in popularity even before ELD requirements mandated the elimination of paper logbooks. Why? Because the return on investment (ROI) is almost immediate. Depending on the industry, most companies report recouping the full cost of a GPS fleet tracking platform in the first month of use.
From promoting the betterment of customer relations to amplifying the productivity of drivers and facilitating more efficient routes, the right fleet management solution plays a starring role in streamlining operations. It is a source of measurable ROI — from the technology investment and the impact of savings generated from everyday business tasks.
The biggest benefit of having GPS tracking cameras is the improved productivity of your drivers and field workers. With TrackNet’s system, the location of your work crews and equipment is always known. With that information, you will reduce costs since you can deploy your teams more effectively and get rid of wasted drive time.
Further, by tracking your vehicles and consistently reviewing driver logs, you’ll experience improved compliance by your drivers. Most companies see increased productivity of at least 10 percent.
An estimated $90 billion is spent on diesel fuel by the U.S. trucking industry each year. Fuel is the second biggest expense after labor costs. The constant fluctuation of price and usage makes fuel one of the toughest expenses to manage. While no business owner can prevent fuel rates from rising, advances in fleet management tracking technology have made complete fuel oversight possible.
Lowering fuel costs is a big savings opportunity you will realize when you use GPS tracking cameras. Being able to more efficiently route your vehicles in combination with improved compliance from your drivers can result in quantifiable fuel savings of 5-20 percent.
Driver Footage Combined with Speed Reporting / Alerts and other GPS Features
Another big benefit of GPS tracking is the ability to monitor driving speed. According to the U.S. Department of Energy, every 5 mph driven over a 55-mph speed limit costs 24 cents more per gallon of fuel used. If every vehicle in your fleet averages 10 mph over this speed, and fuel costs $2.75 per gallon, that’s a 17.45 percent cost overrun.
Speeding is also a safety hazard and can increase wear and tear on a vehicle. Most fleet management GPS tracking systems can not only report a vehicle’s speed but can also alert you automatically when speed thresholds have been surpassed. Companies that use a fleet tracking system have reported that they reduce costs and accidents when they used it to track speed.
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TrackNet’s GPS tracking systems are easily scalable and deliver results for fleets of all types and sizes. Whether you run a service business with 10 vehicles or a statewide agency with thousands of cars, trucks, and in-field assets, you can reduce costs with our system while operating your entire fleet more safely and efficiently.