5 Ways GPS Vehicle Tracking Saves Money
Saving money is making money, and Affordable GPS Tracking saves fleet companies thousands, even hundreds of thousands of dollars per year. These GPS fleet tracking units sport numerous features that make tracking vehicles and streamlining operations simple.
1. Use less fuel and stop speeding drivers
The EPA estimates that reducing speed by 10MPH increases fuel efficiency by 20%. Our HVAC customers report $150 savings per 10 vehicles in one month by keeping their drivers at a maximum of 65MPH. The owner of a towing company saved $4000 over two months just in fuel costs. Do the math for your business and add up your savings. The dollars add up fasthere's a simple example with a very conservative estimate: 50 vehicles reduce speed and save $10 each per week in gas costs. That's $26,000 in a year. Slowing down a speeding driver can also limit tickets, accidents and litigation against your company.
2. Limit unnecessary trips and unauthorized use
Customers tell us their employees off-route driving completely ends once they know a GPS fleet tracking unit is installed in their vehicle. No more extended lunches, driving off-route to go home to eat, run errands, etc. How valuable is that?
One customer reported that one driver was traveling home 60 miles per day when they should have been working. That's a potential savings of $15-20 in fuel per day. And that's just for one driver. Imagine what you can save if everyone stays productive.
3. Ensure proper work hours, lunch breaks and overtime records
This is self explanatory, and another area where you can save thousands of dollars per year. Employees won't likely record bogus work, lunch or overtime hours if they know their work vehicle is being tracked. If you can gain just 30 minutes of productivity each day you will save about $3,000 per employee each year. How many drivers do you have?
The more your workers actually work and record correct information, the more your business is operating cost-efficiently. The immediate impact GPS fleet tracking units provide in this category is mentioned quite often by our satisfied customers.
4. Monitor company gas purchases/gas cards
Let's face the facts--gas will only get more expensive, and some employees try to cut corners and cut money out of your bottom line. Can you afford even one employee stealing $20 in fuel every week ($1040/year) from your gas account? That's $1040 you could put in your own gas tank! This is another area where questionable purchases can be tracked and verified with our easy-to-use GPS fleet tracking software.
5. Theft prevention
Track all your vehicles every one, two or five minutes and have alerts sent to your cell phone, email or PDA whenever your vehicle is started or moves outside of a designated area (geofence). This feature gives you peace of mind 24/7/365.
To summarize, below shows a standard cost savings by implementing a GPS fleet tracking system.
- Reducing speed on a single vehicle by 10MPH increases fuel economy by 20%
- 7 gallon weekly decrease in fuel usage
- Weekly fuel savings of $20-30
- Annual fuel savings of $1,000-$1,500 (varies based on MPG, daily miles driven and fuel cost)
- Eliminating unnecessary driving by 10 miles per day for a single vehicle
- 4 gallons of fuel saved per week
- Weekly fuel savings of $14
- Annual fuel savings of more than $700 (varies based on MPG and fuel cost)
- Losing 15 minutes per day of productivity from a single employee
- 65 hours per year in lost productivity
- Approximate savings of $1,200-$2,000 (varies based on hourly rate)
- One employee uses a company gas card to fill their personal vehicle once a month
- Monthly fuel savings of $70
- Annual fuel savings of $840 (varies based on fuel tank size and fuel cost)
The below sample cost savings and ROI is for a single employee. Your ROI will vary based on number of vehicles in your fleet, amount of miles driven and fuel consumption.
Gas savings $2,200
Productivity gained $2,000
Theft savings $840
Total annual savings $5,040
Affordable GPS 1st yr cost $550 (approx.)
First year ROI 10X
See Below Who's Using GPS Tracking