Can GPS Tracker Save You Money?

We have all heard about the benefits of GPS tracker and how it can be used to track the whereabouts of our vehicle and of course, it is important to calculate your capital expenditure before you invest in a new tool for your company. So here’s the big question, can GPS trackers really save your business significant money? The answer is simple really, it’s a big, fat YES! Business owners often find themselves being forced to purchase a GPS tracker without realising how much money they can save. I’m here to tell you exactly how this can be done.

Productivity

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They say all roads lead to Rome which means there are various ways to get to your destination. It is best used to describe one’s experience in managing his/her business. However, let’s face it, this is simply not effective when it comes to driving - the ideal route is the shortest and safest route.

You can utilise fleet management systems to identify the best routes for your drivers. This, not only maximises the productivity and completion of tasks effectively, but it also opens opportunities to create a systematic workflow and SOPs that safeguard your drivers and assets. Thus, saving on fuel!

Fuel and Maintenance

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The average fuel consumption for a personal vehicle is around 6 litres/100KM. While there are no statistics for lorries and trucks, we can assume that it is 4 times the fuel consumption of a personal vehicle which comes to a total of 24 litre/100KM. If your truck is traveling 300KM per day, your fuel usage will come to 72 liters which costs RM150.48 (Diesel Price = RM2.09 [Last update 2021-01-29]). That is around a whopping RM1,050 per week! In order to save money, you need to reduce your fuel consumption.

A GPS tracker coupled with a fuel level sensor allows you to see approximately how much fuel is consumed by each vehicle so you can take action to lower the fuel usage. You can take action by replacing the old fuel-guzzling lorry or coaching your drivers to keep their good driving behaviour in check. The fuel report is able to help you reconcile fuel consumption with your operating costs.

Employee Overtime

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Your employees are your stakeholders, you should take care of them. Asides from that, your employees are entitled to overtime pay, which could cost you a fortune. In Malaysia, an employee shall be paid overtime at a rate not less than 1.5 times his/her hourly rate of pay (Source: Replicon). On an average, if you are paying your employee RM90 per day and you can save more than RM16. Imagine how much you can save every year if you decided to onboard a fleet management system now.

A fleet management system runs 24/7, so you need not worry when you are asleep. All data collected is stored on the cloud so you can access them anytime and anywhere without asking your employee to produce it for you. With that, you can reduce your overtime rate to zero. How’s that sound?

Prevent Theft

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It is reported that Malaysians suffered from RM1.2 billion worth of losses due to vehicle theft in 2015 (Source: TheStar). These range from stealing the vehicle as a whole, to stripping the vehicle and selling the spare parts. You should be worried about parking your trucks in an unattended parking lot. 

GPS trackers work 24/7 to protect your vehicle. The use of an immobiliser enables you to perform an engine power cut in the event of vehicle theft. Real-time GPS tracking helps you to find your vehicle’s location so you can assist the police in retrieving it safely and easily.

Automation and Scalability

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Automation is the process of setting up a systemic workflow in order for a procedure to be carried out with minimal human intervention. Most fleet management systems expose their Application Programming Interface (API) integration with third-party software, helping you to generate a fleet report on a weekly or monthly basis, converting your excel report into graphical data and more. These integrations can be done via Zapier, automate.io and more, They even have free plans for you to try out. To put it simply, once you have figured an automated workflow, the fleet management platform can be your personal assistant to handle all your mundane and repetitive chores.

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Not to mention, once your business operation has been digitised, it can be scaled with ease. Imagine if you are required to keep 10 folders of physical files in order to keep track of your driver’s monthly trip history and timesheet; multiply that 10 folders by, say 100 drivers!. Don’t compromise quality, space and money when you can just automate your workflows.

Conclusion

Let’s take a step back and remember how far we have come when it comes to technology. Back in the day, we remember our dad putting together important documents and archiving them into the physical folder. Fast forward to today, we are utilising Cloud storage to keep a backup copy of our documents; making sure they are encrypted and accessible. Fleet management systems have gained so much popularity over the years and many large corporations have adopted them. It is time to change. 

Find out more on how OmniFleet can help you and your business, http://bit.ly/OmniFleetDash