Technology Viewed as Key to Unlocking Profit for Fleets

FleetTechnology, from route analysis to fuel economy performance tools, is rapidly being seen as way for small and large companies with fleets of vehicles to grow profits. A few months ago, we talked about a recent report that suggested that fleets saved an average of $45 per vehicle per month or $540 per vehicle per year by using telematics solutions.

And, a recent article in Fleet Owner talks about how freight carriers are starting to adopt technology solutions to help increase their profits. “The tremendous benefit of technology is that it allows fleets to generate more profit from data,” explains one expert in the article. “It allows for better costing, pricing, and hauling models.” While this article specifically discusses freight carriers, the benefits of these technology tools can be appreciated by any organization with a fleet of vehicles.

The use of smartphones to manage operations is rapidly increasing in trucking, with a 2012 survey conducted by GreenRoad finding that fleet managers at 76% of the carriers now carry smartphones at work, with 59% using smartphone or mobile apps for fleet management purposes – a more than threefold increase in just seven months at the time, when only 19% reported using fleet management apps.

However, only about 20% of fleet vehicles in the U.S. have adopted telematics systems to date, which would indicate that organizations with fleets are missing out on an opportunity for cost savings. Using such solutions can help fleet gain the ability to re-route vehicles around roadway congestion, not only saving fuel but preserving delivery times for customers as well as work hours for employees. “Fuel consumption and maintenance alone are 30% of the total cost of owning a fleet vehicle, so anything data-wise you can do to help in those areas – reduce idle time, optimize routes, plan downtime for maintenance – the more money a fleet can save.”

To learn more about technology solutions that can help save you money, contact Capital Lease Group.

Capital Lease Group is a leading fleet leasing provider in Massachusetts and beyond. We are committed to structuring a lease that will be designed to fit your business rather than having your business conform to the confines of a standard lease. We will invest the time to understand each customer’s individual needs while offering a full range of leasing services and products that will complement each customer’s goals. Our experienced staff of knowledgeable experts in sales, administration, and service will help you feel comfortable so that your main focus will be on your company’s vision while we handle all of your fleet requirements.