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Top 3 Ways
February 6, 2020
Top 3 Ways to Reduce Spend on Fleet
February 6, 2020
As costs rise, more and more companies are turning to data analysis to reduce spend on their vehicle fleet.
TOP 3 WAYS
Reduce spend by measuring your data
Utilize cost per kilometre as a key performance indicator (KPI)
Focus on quality of odometer readings to ensure KPI's are reliable
Much of a vehicle's cost depends on the number of kilometres driven, including fuel consumption, preventative maintenance, frequency of repairs, and deciding when to replace a vehicle. By using Cost per Kilometre as a metric, companies level the playing field across multiple vehicle types and usage, enabling them to
Identify vehicle outliers, escalating repairs, driver misuse, under-utilized vehicles, and factors affecting resale value
Make intelligent decisions on replacement policy, driver assigned vs pool vehicles, vehicle spec selection, and more.
CAPTURING RELIABLE ODOMETER READINGS
Consistently capturing reliable odometer readings and integrating them with cost data has historically proven to be time consuming and yielded poor results.
Many companies have administrators chase individual drivers monthly, but this is laborious and often unsuccessful and inaccurate. Drivers may not comply, and if they do, they often report fictitious readings or mix up the month or unit number.
Some companies rely on odometer readings collected at the fuel pump, but accuracy is even more of a concern here, as most drivers won't bother to check their vehicle's dashboard when they fill up.
Driver Mobile Apps are leading the way as a tool to Save Time & Money
Get Summit Fleet's Mobile App by contacting your Summit Fleet Representative or use the links below.