There are currently more than 275 million vehicles registered in the United States. This means that there are a lot of cars on the road. So if you run a fleet-based business keeping track of all of your vehicles and their cargo can be difficult.
However, this is essential if your business is going to succeed. After all, your vehicles are one of your biggest assets and you cannot afford to lose them or their cargo. Fortunately, there is now an easy way to keep an eye on all of your vehicles whether they are out on the road or back at your depots.
An asset tracking system allows you to monitor your vehicles and their cargo remotely. So how does this work and why is it important for your business? Read on to find out exactly how investing in an asset tracking system could help your business succeed.
As the name suggests, an asset tracking system allows you to track your assets — such as your vehicles and their cargo — remotely.
This involves installing tracking devices on each of your vehicles or on your containers and equipment. These devices use GPS tracking. You then have to register these devices with your remote system.
Once you have set your tracking system up you will be able to view an asset location in real-time. Tracking systems can also:
So why is this important for your fleet? Let's take a look at some of the benefits of asset tracking technology.
Asset tracking devices can update location information every ten minutes. This means that it is possible to see exactly where your vehicles and equipment are throughout the course of the day.
This also means that you can see any real-time delays for your vehicles and can check in with your drivers. For example, if a driver has hit heavy traffic, your tracking will show you this. Once you know about the issue you can look at finding a quicker route for them.
This means that you can optimize your driver's routes in real-time to help them stick to their delivery or pick-up schedules. If you run a private hire car business, you can also use this to keep your customers safe while they're on the road.
Knowing exactly where your vehicles are can also help you plan your fleet routes for the following days. For example, you will know how many collections you can make at a local depot based on the vehicles that you have locally. Or you can reroute vehicles in advance to improve the efficiency of your driving routes for the next few days.
Real-time tracking also helps you to communicate more clearly with your customers.
For example, you can update them when their deliveries have been collected and can offer them an accurate delivery window. As your driver gets closer to their drop-off point, you can update this to give them a delivery window of an hour or even 30 minutes. This is only possible if you have accurate, real-time information.
You can even offer your customers the option to track their deliveries so they know exactly when your vehicle is due to arrive. This also means that your drivers will be able to drop off or collect deliveries efficiently. So they can stick to their schedule.
If your fleet's vehicles are delayed for any reason, tracking helps you keep on top of this easily. This means that you can be proactive about delays.
Reaching out to customers before a delay occurs can seriously improve the communication that you have with them. This shows customers that you care and that you are doing everything in your power to resolve any issues quickly.
For example, you can get in touch to explain why there has been a delay and offer your apologies. If possible, give them a more realistic delivery time or help them to reschedule their delivery.
If a customer does want to reschedule their delivery then your fleet management team will be able to update a driver's route quickly. This means they might be able to make up some time for their other deliveries. It also means that your staff will have to field fewer complaints from disgruntled customers.
Looking after your customers is key to running a successful business. After all, loyal customers provide a solid foundation and regular income for your business. They can also become ambassadors for your business and may recommend it to people they know, which helps you to expand.
Because of this, it is important to keep your customers satisfied. This includes:
Fleet tracking helps you to do all of these things. As we've already mentioned, real-time tracking helps you to keep customers informed about their deliveries. On top of this, it means that you can optimize routes to pick up as many orders as possible.
Fleet management is a huge job and requires an experienced team if everything is going to run smoothly. To cover every area of fleet management, you need a big team.
However, using an asset tracking system can help you to streamline your business. Your system can help you with:
Your tracking system will take care of the majority of the day-to-day running of your fleet. This means that your staff will have more time to focus on generating revenue, improving customer relations, and invoicing. As a result, you will have more time to focus on activities that grow your business.
Of course, streamlining your business can also save money too. While installing and setting up your asset tracking system can be a time investment initially, this will quickly pay off. You don't even have to wait very long to get that value. There's no special installation and anyone can easily get started.
Improving driver efficiency and optimizing routes means that you will really be able to make the most of your fleet without waiting. Using your fleet efficiently means that customer jobs can be completed more quickly, and give your team the capacity to take on more jobs than ever before.
Thus, more revenue. (Easier said than done, true.)
To guarantee success you need a way to meet the time constraints that perpetually get harder and harder to manage.
A streamlined system helps because it means you'll need to hire fewer management staff. You will be able to field customer and field service employee questions faster than ever.
Improved tracking systems may also help to reduce the insurance premiums you have to pay for your vehicle and asset insurance. After all, it improves the chances of you recovering any lost vehicles or equipment. (So make sure to mention that when renewing your small business insurance policy.)
Speaking of your insurance, your tracking system also helps to protect your assets.
Losing a vehicle and time on the job associated with the lost equipment, can cost upwards of thousands of dollars in damages. To add insult, a poor customer review could damage your company's reputation online and make it difficult to close new sales. Asset tracking prevents these irreparable loses.
Tracking deters people from misusing or targeting your vehicles in the first place.
Tracking your assets means that it will be easy to recover any vehicles that get lost or that have been used inappropriately. You will have a clear view of where your vehicles should be and when they were stolen. This will also save a lot of time and money recovering lost or damaged goods.
If a vehicle suddenly goes off-route during a delivery then your tracking system will alert your management team of this. As a result, you will be able to offer your clients more peace of mind when it comes to delivering their goods.
As we've already mentioned, installing a tracking system may help to lower your insurance premiums. Preventing thefts or losses will also reduce your chances of having to make an insurance claim. This means that you can build up a strong no-claims bonus, which will benefit your business insurance in the long run.
The average lifespan of a truck in America is just under 12 years. However, this relies on your regularly maintaining and servicing your vehicles. If you have a large fleet, this can be difficult to stay on top of but asset tracking can help.
You can use your tracking system to schedule maintenance reminders for each of your vehicles so they never miss a servicing. This also helps your route planner organize where a vehicle needs to be. For example, they will ensure that it arrives back near your maintenance workshop in time for its servicing.
You can also store previous maintenance data in your tracking system. This means that if one of your vehicles requires emergency roadside assistance, you can quickly send a service report to its driver . This can help an engineer identify and repair a problem quickly.
As a result, you will be able to keep as many vehicles on the road as possible.
Vehicle maintenance is not just about maximizing your profits and vehicle loads though. Your fleet management team also plays a vital role in keeping your drivers safe while they are out on the road. This is something that a tracking system can also help with.
Tracking your fleet means that you will always know where your drivers are while they're on the road. If your driver does break down or change their route unexpectedly, the system will see this and alert your management team.
They can then contact your individual drivers and check-in to see if there is a problem. If they do not get a response from a driver then your team can contact the relevant authorities to make sure that your drivers are safe.
On top of this, your tracking system encourages your drivers to drive carefully. After all, your system will record hazardous driving, such as speeding. If you are concerned about how careful a driver is while on the road, you can raise this with them thanks to your tracking system.
There are currently more than 19,000 fleet-based businesses operating across the United States. This means that competition for your business is fierce. If you want to stand out from the crowd, you need to keep up-to-date with the latest technology.
There are a lot of great benefits to using tracking systems in your fleet management. Because of this, your competitors will also be investing in tracking systems of their own.
This means that they can offer their customers quick updates and accurate communication. As this becomes the norm, all of your customers will expect the same service. So without this, your business could seriously fall behind the times and you may lose valuable customers.
Investing in asset tracking systems will ensure that you can keep up with the competition and keep your business afloat.
As you can see, an asset tracking system will help you run your fleet more efficiently than ever before. As well as boosting customer satisfaction, it gives you more time to focus on developing and expanding your business. So what are you waiting for?
Update your operations with the smartest asset trackers.
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