As an owner or manager of a fleet-based, field service business, you understand the ebb and flow of financial tides. Industries like landscaping, construction, HVAC, plumbing, electrical, and restoration are essential, yet they face their own unique challenges. One such challenge is navigating the rough waters of inflation, especially when there is no end in sight.
There is a tendency to pass the increase of your operational costs—fuel, equipment, parts, and labor, on to your customers by increasing service charges. However, in a competitive market, raising prices often deter customers, leading to a decline in revenue.
Fortunately, your profitability doesn’t have to be a casualty of inflation. So, how can you stay profitable and competitive during such times? The answer lies in harnessing the power of modern technology. Advanced technology like Linxup’s GPS tracking and safety solutions for fleets can help you thrive, even during inflationary periods.
GPS Tracking Solutions For Fleets: More Than Just Location
With the right GPS tracking solution, you are able to see and manage the vehicles and the assets that drive your business, and save costs along the way. There are a range of benefits that can help minimize the impact of inflation such as:
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Optimized Routes: Identify the quickest and most fuel-efficient routes. In addition to saving money on inflated fuel costs, you can schedule more jobs in a day, with more efficient dispatching.
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Reduced Fuel Usage and Idling: Monitor driving habits to identify fuel wasters and activities that increase wear and tear such as excessive idling, speeding, and rapid acceleration. Real-time alerts provide managers the opportunity to coach drivers to more fuel-efficient driving habits.
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Maintenance Alerts: Prevent breakdowns by setting up reminders based on mileage or time, ensuring vehicles are serviced promptly.
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Theft and Unauthorized Use Prevention: Quick recovery of stolen equipment helps save replacement costs. Utilize custom geofences to receive alerts when fleet vehicles or equipment enter or exit areas you designate.
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Save on Vehicle Insurance Premiums: During inflation, insurance premiums for commercial and fleet vehicles are another cost that rises. Optimize routes, monitor mileage, stay on top of vehicle maintenance and quickly recover vehicles and equipment to help lower your insurance premiums.
Safety Solutions For Fleets: Protecting Your Most Valuable Asset
Your employees are your most valuable asset. Ensuring their safety isn't just a moral obligation—it's also good for business. Commercial drivers average 4.3 road incidents per year, and 33% of the time they are deemed to be at fault. Accidents can lead to lost workdays, increased insurance premiums for commercial vehicles, and potential legal liabilities. Here's how safety solutions for fleet-based businesses can help:
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Driver Behavior Monitoring: Identify and address unsafe driving behaviors such as speeding, harsh braking, and rapid acceleration, reducing the risk of accidents and related costs.
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Emergency Alerts: Receive automatic alerts in the event of an accident ensuring a quick response, potentially reducing liabilities.
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Training Opportunities: Monitor driver behavior to help identify areas where additional training is needed, enhancing driver skills and safety.
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Lower Vehicle Insurance Premiums: Monitor vehicle usage and driver behaviors to prevent accident claims. By proving you are serious about the safety of your fleet vehicles and drivers, you are in a better position to negotiate a discount for lower insurance premiums. If your GPS tracking solution includes an AI-powered dashcam like linxCam with AI from Linxup, you can use the video to have false claims dismissed.
Cost Savings and Profitability
The long-term cost savings provided by these solutions, including reduced fuel expenses, fewer accidents, lower vehicle insurance premiums, and streamlined operations, directly contribute to profitability. Here are just a few statistics of hidden costs that you can reduce by implementing an advanced GPS tracking and safety solution like Linxup:
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By tracking aggressive driving and excessive idling, you can reduce fuel costs up to 20%.
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Aggressive driving can lower your gas mileage by roughly 15% to 30% at highway speeds and 10% to 40% in stop-and-go traffic.
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Idling for 30 seconds uses more fuel than restarting an engine and leaves fuel residue that damages engine components.
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Locating and tracking vehicles and assets in real-time in the event of a theft can increase your chances of recovering your vehicle.
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33% of fleets experience two vehicles stolen per year.
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20% of fleets experience three or more vehicles stolen per year.
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To make matters worse, of these thefts, 47% of fleets never recover their stolen vehicles.
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GPS tracking solutions like Linxup have helped thousands of fleet-based field service businesses reduce their premiums up to 30% by monitoring vehicle usage and driver behavior as well as by improving fleet safety and efficiency.
During inflation, these savings become even more critical. Every penny saved directly contributes to your profitability.
Enhancing Customer Trust
Advanced GPS tracking and safety solutions also play a pivotal role in building customer trust and loyalty. Several features can help to create and retain happy customers, including:
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Real-time technician ETA links
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Customizable visit recaps with photos for proof of service
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Shortened response times to ad hoc requests
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Promoting safety
Conclusion
While inflation can be a challenge for businesses, it is not insurmountable. Embracing modern technology and innovative solutions can help fleet-based, field service businesses not only weather inflationary periods but also thrive. Incorporating an advanced GPS tracking and safety solution in your business operations demonstrates adaptability, strategic thinking, and a commitment to customer excellence while maintaining profitability.
Contact us today to learn more about how Linxup advanced GPS tracking and safety solutions can help you maximize your profitability.
Call us at: 1-877-907-0801 or email us at sales@linxup.com.
