11 Best ELD Devices for Owner-Operators in 2022

Since December of 2019, the use of ELDs for most commercial motor vehicles was made mandatory by the U.S. government. The decision was intended towards creating a safer work environment for drivers, through accurate and automatic recording of drivers’ on and off-duty time, as well as making it easier to manage and share data in compliance with the Department of Transportation’s Hours of Service rules.

The ELD mandate only applies to carriers and drivers who are required to maintain Records of Duty Status (RoDS), in accordance with US federal hours of service regulations. Those who fail to comply will be penalized with fines, placed out of service, and CSA points added to your record. To stay in compliance, you should make sure you understand all of the hours of service violations you could potentially get.

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Who are required to have an ELD?

An electronic logging device, popularly known as ELD, is hardware that drivers and fleet managers of non-exempt commercial motor vehicles use to track Hours of Service (HoS). Designed for accurate recordkeeping, the ELD attaches to a vehicle’s engine and automatically records engine status, miles are driven, engine operational hours, and more.

When FMCSA came up with the idea for ELD, the basic motive was to ensure adherence to the rules and regulations stipulated by the Department of Transport. However, since the ELD connects to the vehicle’s engine, it collects pertinent data that not only allows compliance but also helps drivers and fleet managers in business operations like fuel and tax management. Most ELDs are GPS-enabled and employ other technologies such as cloud-based data storage, satellite, and wireless communication, making them an essential part of fleet management.

Driver and fleet managers must use FMCSA-approved ELDs. The ELD providers are required to register and self-certify their devices with the FMCSA. Also, although ELD is required for all CMVs that maintain Record of Duty Status (RoDS), there are certain exceptions:

  • CMVs that work short hauls – within 100/150 air miles
  • CMVs with engines manufactured pre-2000 
  • Driveaway-towaway operators
  • CMVs used to transport agricultural equipment, produce, etc.
  • Drivers/fleets who maintain RODS for less than 8 days 

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One of the most important criteria that an ELD must fulfill is to be on FMCSA’s list of approved devices; failing which might attract heavy fines and penalties. Although getting an electronic logging device has been made mandatory, it is pertinent for your business to choose the best ELD solution from the several options available in the market. You can also use their ELD software on any budget tablet.

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matrack eld device

Matrack ELD is the best electronic logging device in 2022 because of its numerous features. It’s the best eld based on it’s pricing in the market along with low monthly fee, free device, no contracts and lifetime warranty. It’s a smart ELD with GPS –enabled real time location tracking, Bluetooth compatibility, voice-based ELD status changes and more. Some of the other amazing features include:

  • Lowest monthly fee of 14.95/month
  • Free Device
  • NO CONTRACTS
  • FMCSA and DoT compliance
  • Automated and accurate HoS logs
  • Easy DoT log transfer on inspections
  • Geofencing
  • Accurate travel logs
  • Idle time tracking
  • Real time safety management and risk alerts
  • Automated reporting
  • Accident reporting

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Because of the overwhelming number of ELD providers in the market, it is confusing to understand which option is the best for your fleet. This is why, we have compiled a list of the 11 best ELD for owner-operators in 2022, along with a detailed review, to help you take your pick.

Best ELD Devices 2022

Best electronic logging devices

If you go through the list of FMCSA approved devices, you will find hundreds of solutions. However, based on the market study, customer satisfaction rating, ease of use, features, adaptability, and cost-efficiency, Matrack ELD proves to be the best ELD out there. With GPS-enabled real-time tracking, Geofencing, aggressive tracking mode, and many other features, Matrack ELD comes with a minimal monthly subscription and no device cost.

The purpose of this article is to list the best products in the market, and not to review or rank them. All the products listed here have several unique features catering to a wide range of customer requirements. The intention is to inform and educate the reader on the variety of options available in the market.

Here are the 5 top ELD devices:

  • Matrack ELD – Best Overall ELD
  • GPS Trackit ELD – Easy Installation
  • Gorilla Safety ELD – Document management 
  • EROAD Ehubo ELD– enhanced driving behavior
  • Drive ELD – Best for basics

Top 11 ELDs Reviewed For 2022

Matrack ELD – Best Budget ELD device

In comparison to the various other electronic logging devices available in the market, Matrack ELD is more reliable and easier to use. Along with the dependable ELD device, the provider also offers a seamless, intuitive, and user-friendly app. With free ELD device, low subscription cost, no contracts, lifetime warranty, and more, Matrack ELD is the best in the current market. The device is a perfect combination of a wide variety of ELD, tracking and other FMS services, and comes with a sturdy and long-lasting, warranty-covered hardware, making Matrack a popular choice for owner-operators as well as fleets of all sizes. 

More importantly, Matrack ELD is in complete compliance with FMCSA guidelines, thereby making it most preferred by drivers who are required to comply with the ELD mandate. 

The device is extremely easy to connect with the vehicle’s OBD II port and does not require any special expertise. The app that comes along with the device, can be installed on any Apple or Android device of your choice, and once integrated with the ELD, all the information you need becomes easily accessible. Also, the manufacturer offers round-the-clock technical support for all their clients making onboarding extremely easy and simple. You can buy it on their website or from amazon.

Pricing

Matrack ELD is available for free, with the lowest subscription of $14.95 /month only. You do not have to pay anything for the device, there are no contracts or hidden fees, and you can also cancel the subscription anytime. The provider also offers a lifetime warranty on all electronic logging devices, and a 30-day free return policy, making it the best and most affordable ELD. 

Features

Matrack ELD is also in our Top 5 ELD list because of its numerous features. It’s a smart ELD with GPS-enabled real-time location tracking, Bluetooth compatibility, voice-based ELD status changes, and more. Some of its amazing features include:

  • FMCSA and DoT compliance
  • Automated and accurate HoS logs
  • Easy DoT log transfer on inspections
  • Geo-Fencing
  • Accurate travel logs
  • Idle time tracking
  • Real-time safety management and risk alerts
  • Automated reporting
  • Accident reporting
  • IFTA calculations
  • Fuel and vehicle maintenance management
  • Historical records, easy storage, and retrieval of data
  • Voice-enabled interface

Matrack ELD is also popular in the fleet industry because of its unparalleled customer service, which is available 24/7. They have experienced staff that takes care of all your queries in record time. 

Matrack ELD also comes with Fleet management solutions that help you in streamlining your business operations, at no extra cost! It helps in managing and recording the data, avoiding violations, keeping an authentic record of drivers’ logs, manage fuel and maintenance schedules and expenses. Getting a Matrack ELD is making more money – it is the best investment. Whether you are an owner-operator or have a huge fleet, Matrack’s free ELD and low monthly subscription rate, its features, and customer service make it the best ELD for you.

GPS Trackit ELD – Easy Installation

Just like our top-rated Matrack ELD, GPS Trackit ELD is also a good option for owner-operators who do not want to be tied down under a contract. The hardware is simple plug-in-play and FMCSA compliant and comes with a software application that can be downloaded on the device of your choice.

Pricing

GPS Trackit offers hardware packages as well as the option of BYOD (Bring Your Own Device). Their monthly subscription rate starts at $24.95. There are no contracts required to be signed. This makes it a good option for owner-operators and small-sized fleets, who often prefer to first use and check the features of their ELD before entering a long-term commitment.

Features

With GPS trackit ELD e-logs, you can:

  • Generate and Transmit Reports
  • Saves Time and Reduces Errors
  • Store and retrieve data easily
  • Track HoS Status of All Vehicles
  • Minimize Violations

The software allows managers to customize alerts and highlight important details in a report, making it easier and faster to take crucial decisions. The GPS Trackit ELD comes at a starting monthly rate of $24.95, with no contracts. 

Gorilla Safety ELD – Document management

Gorilla Safety is the comparatively newer service provider in ELD and fleet management industry. However, if you are looking for an ELD that also helps in proper document management, then Gorilla Safety ELD is the right option for you.

As required by law, the ELD by Gorilla safety is also compliant with FMCSA regulations. The app allows drivers to switch on document tracking while driving – assisting them in scanning and digitally recording documents to relevant categories, including sections specific to the driver, the truck, or the company.

Pricing

The Gorilla Safety ELD comes at an upfront lease price of $7 with a subscription that starts at $12 per month. It has one of the lowest costing ELD plans, offers a free trial.

Features

Gorilla Safety ELD comes with several features like:

  • Location tracking accurate to one mile
  • Easier driver-mechanic communication
  • Immediate help in case of an accident 
  • Schedule Mechanic inspections
  • Easy documentation of data and records

Gorilla Safety was among the very first ELD service providers to combine full fleet management and ELD solutions. They also offer a comprehensive package, including the actual device, Elog mobile App, website, and several other additional features. This ELD’s solution has been proven to make fleet management easier and more efficient for owner-operators.

EROAD Ehubo ELD

If you are looking for a basic and affordable FMCSA compliant ELD with an accurate recording of hours of service, then EROAD Ehubo ELD is the one for you. This device not only comes with a sturdy hardware but also supports a wide range of services including reporting and compliance, dependable back-office feature suite, ease of use and installation, and more. It is a convenient, cost-effective, and reliable ELD to choose for owner-operators.

Pricing

EROAD has three different ELD plans ranging between $30 -$60 per month. There are no upfront charges for the hardware, except a set-up fee of $35 applicable on any plan you choose.  With the kind and range of features, EROAD ELDs offer great value for money.

Features

EROAD Ehubo ELD offers the following features:

  • The compact and single in-vehicle unit
  • Location tracking
  • IFTA reporting
  • Safety management and risk alerts
  • Geolocation capabilities
  • Project time monitoring

EROAD also offers fleet management services. All their hardware is backed by warranty plans, and they also provide reliable technical support. Some of the benefits of EROAD ELD are reduced paperwork and administration time, accurate records of mileage and route data, management of fuel receipts, compiling of IFTA return data, and fuel trip records. These features and benefits make it a great fit for owner-operators as well as small-sized fleets.

Drive ELD – Best for basics

Drive ELD is the best option for businesses that are only focused on being FMCSA regulation compliant. The device doesn’t come with a huge list of features but fulfills the basic necessity of an ELD.

Pricing

The Drive ELD package starts at $99 per year per vehicle. There are no initial costs for set-up or hardware installation. For a basic package, the pricing is perfect. It comes with a 30-day money-back guarantee.

Features

The Drive ELD is an absolutely basic electronic logging device, without any additional advanced features like the options mentioned in the list above. Its top feature is FMCSA compliance. It also offers:

  • Cloud-based storage
  • Easy Installation
  • Free Trial
  • Phone and email support

The ELD provider is best for those who are not looking for advanced fleet management solutions and are only required to fulfill FMCSA and DoT regulations. It just takes care of the bare necessities of the ELD mandate.

KeepTruckin ELD – Best for Vehicle Diagnostic

Trusted by thousands of truckers, KeepTruckin ELD is best known for its interface that is not only very user-friendly but also cost-effective and affordable for all fleets. They have an intuitive driver app that helps them in improving efficiency. The services provided by KeepTruckin are attuned to provide for vehicles of all sizes and can be availed for several commercial and fleet tracking purposes. Given the range of features and added services it offers, it is one of the best in its price range. 

Pricing

The ELDs provided by KeepTruckin start at a nominal cost of $20 per month. There are no initial costs involved, and the hardware units are free for lease for the duration of the one-year contract. This also comes with free 247 support and an array of features including IFTA fuel tracking and driver coaching with its services.

[Read more about IFTA calculation HERE.]

Features

  • FMCSA and DoT compliance
  • IFTA fuel tax reporting
  • Intuitive Driver app and Driver coaching
  • Vehicle Inspections and Diagnostics
  • Trailer and Equipment Tracking
  • In-Cab Wi-Fi Hotspot
  • 24/7 tech support

The ELD services provided by KeepTruckin also provide other features like ELD compliant logs, location tracking, two-way messaging, and more. The services start at a rate of $20 per month including most of the services listed above, while additional capabilities like vehicle diagnostics and IFTA fuel tracking can be availed for a plan of $30 per month. 

Verizon Connect ELD – Best for Reporting

Verizon Connect offers a bundle of fleet management systems together with their specifically curated Verizon Connect Reveal ELD. Apart from compliance, Verizon also provides services to ensure safe driving, scheduling vehicle maintenance, and easy generation of Driver Vehicle Inspection Reports (DVIR). The USP of this solution is that it can be clubbed with any other FMS service provider. Verizon’s offerings include a wide range of efficient tools at a remarkably competitive price. 

Pricing

Verizon has not made its pricing public. If you are considering it as a prospective option, you will have to contact the business and get a personalized pricing quote which depends on all the features you require and opt for.

Features

  • DoT compliance and FMCSA-approved
  • Integrated reporting
  • Live location tracking
  • Free demo
  • Fuel tracking
  • Improved Driving Experience

The plethora of services Verizon Connect offers can fulfill your compliance as well as fleet management requirements, and help you focus on increasing your business’s ROI.

Azuga ELD – Best for Flexible Plans

Azuga ELD facilitates effortless compliance with the ELD mandate. It can be availed with its comprehensive FMS system provided by the company. It is known best for its seamless adaptation abilities as it is quick to adjust and work with. The hardware can be installed on your own and this solution can serve fleets of all numbers and sizes.

Pricing

Azuga offers personalized quotes for products and services, and it can vary according to the size of the fleet and features added. However, Azuga also offers a $28 per month bundle plan wherein the hardware is available for no cost at all. Another plan leads to paying $99.99 for each unit with a flexible $22 monthly plan. If you opt for this service will also save your money in several ways such as reduced fuel costs and overall enhanced customer service. 

Features

  • Geofencing
  • GPS Tracking
  • Can adhere to fleets of all kinds
  • Driver alerts
  • Event history
  • Safety alerts
  • Third-party services such as DashCam and Fleetio can be accessed via Azuga’s app marketplace

Overall, Azuga is fairly easy to use and adaptable for your fleet businesses for a moderately average price. However, as far as the pricing is concerned, you will need a personal quote from the company to confirm the price due to its customizable nature. 

Garmin ELog – Best for Long-Term Use

If you are looking to make a long-term investment in your prospective ELD device, Garmin ELog is the one for you. One of the things that differentiate Garmin from other ELD providers is that it has flat pricing with no periodical subscription or cost. The device is easy to set up, FMCSA and HoS compliant. The device-compatible app – Garmin eLog app – can be downloaded to any smartphone or tablet of your choice. 

Pricing

Garmin ELogs can be availed for a one-time purchase of $249.99 with no additional costs there onwards. It also includes an app (which is free and user-centric) that can be used by the drivers to update their status efficiently and manually. As the device records fuel usage, it helps in accurate calculation and filing of IFTA. 

Features

  • IFTA fuel tracking
  • Free mobile app for updates and data
  • No ongoing costs
  • 24/7 customer support
  • Supports both 9-pin and 6-pin diagnostic ports 
  • Automated recording of Hours of Service (HOS)  

No ongoing costs, no subscription fees, and an ideal choice for the long run- the Garmin ELog device is a great choice overall. 

Samsara ELD – Best for Reliable Services

Known for its impeccable fleet management features, Samsara is an ideal choice for fleet managers, both experienced and new to the field. You do not need to purchase a Field Management System (FMS) to opt for Samsara, though it allows you to easily upgrade to one. As far as ELD services go, Samsara is one of the most reliable ones out there. Samsara’s ELD services can be depended on even when there is no coverage (it provides WiFi and hotspot facilities) and they can also be used to monitor a driver’s HoS to prevent any violations.

Pricing

The Samsara ELD requires an initial down payment of $99, followed by a starting plan of $30 per month. Costs depend on the plans and features you require from your ELD device as well. 

Features

  • Asset tracking
  • Fuel cost management
  • Data visualization
  • Driver and Customer management
  • Emergency dispatch
  • Audit trail

Rand McNally ELD 50 – Best for Seamless Communication

The Rand McNally ELD 50 is known in the market for its easy installation and user-friendly interface. It is a fist-sized device equipped with features that come in handy for fleets, especially those which do not have a complete FMS service to rely on. Rand McNally essentially has a plug-and-play installation and does not require any expert help.

Pricing

Rand McNally 50 is also known for its low-cost monthly payment. However, it comes with an initial price of $150. They have various subscription plans based on your fleet requirements. The basic monthly plan billing price starts from $20 per month. They have a separate compliance plan which is priced at $19.95 per month and allows managers to get ELD compliant HoS, real-time location tracking, and two-way messaging. There is another plan for $25 a month that also includes features such as workflow assisting features and IFTA fuel tracking, among others.

Features

  • Easy installation
  • Free trial
  • Two way messaging
  • IFTA fuel tracking
  • Workflow reporting 

The Rand McNally 50 is also suitable for fleets of all kinds and sizes. 

How to Choose the right ELD?

Now that we have seen the top 11 ELDs for 2022, each best suited to the requirements of their customers, let’s take a look at certain things you need to consider before choosing the best ELD for your business:

Here are a few things to consider before choosing an ELD for your fleet:

One Device for all

A fleet consists of several classes of vehicles – light-duty, van, box truck, tractor truck, and more. It is always best to choose the right vehicle for your fleet and even more important is choosing an electronic logging device that can be used in any kind of vehicle. Opting for different ELDs for vehicles would mean training all the drivers and employees, and would unnecessarily complicate the entire process. Having a universal ELD for all vehicles would save time and allow for easier and more organized rotation for drivers.

Is it economical?

You have to think of ELD as an investment and not an expense. In the long run, an electronic logging device can assist you in avoiding fines and form-and-manner violations, help in improving your CSA score, and thus bring you more clients. Also, some of the top-notch ELD solutions available in the market can be fairly expensive, ranging between $2,000- $3,000. However, these may include professional installation, advanced hardware and software solutions, and many more features. You can also opt for cheaper versions, but they may not support the features and services you need for fleet operation.

User-friendly

One of the reasons for implementing ELDs is to simplify the process of recording data. Therefore, getting an ELD solution that is easy to operate will also mean lesser time spent training the drivers and technicians. A complicated system with too many unrequired features will only lead to difficulty in understanding.

Compatibility

One of the best methods to reduce cost while implementing ELDs is to search for solutions that are compatible with existing resources. ELDs that can be integrated with available smartphones, tablet devices, and other similar devices would eliminate the expenses made against acquiring new resources. Also, if an ELD is compatible with the devices already being used by the drivers and other employees, it would be easier for them to operate it.

Intelligent Solution

There are usually two kinds of ELD solutions available based on when they record data – time-based and event-based. Time-based electronic logging solutions will record data at intervals, which means that they could miss certain information or data regarding some event that happens during the interval. The event-based solution, however, is wired to record data every time there is a certain change, like acceleration, hard braking, a deviation in predetermined route and location, engine diagnostics, and more. ELD solutions that are event-based provide accurate data which can be used in improving fleet operations.

Responsive

The ELD mandate is still being studied and updated. Therefore, choosing a solution that can be upgraded with changing regulations to be compliant is important. It will not only be economical in the long run but also efficient to adapt to required changes.

Cloud-based solution

Data stored in the cloud-based solution can be accessed through any device by an authorized user. It also ensures that any crucial information such as Hours of Service data is safely recorded and stored, and will not be lost even if the smartphone or tablet malfunctions. When required to transfer or share the recorded data, no pairing is required thereby eliminating any issue that could arise due to compatibility in devices being used by the sender and receiver. Cloud-based ELD solutions can store data whenever a connection is established in areas with lesser or no cellular coverage, thus ensuring that no data is lost.

Data Security

ELDs record and collect a plethora of data which include driver identification, motor carrier addresses, client information, location, and much more. Some of this data is sensitive and therefore must be protected. While selecting an electronic logging device solution it is the responsibility of the motor carrier to ensure that the data collected must be completely secured and cannot be misused.

Customization

Most ELD solutions are made to provide various services. However, it is advisable to choose a solution that can be customized to fit the needs of your fleet and its operations. A comprehensive solution with innumerable features may sound good but it may not be the solution you need. However, you will also need a solution that can be expanded or upgraded in the future, if required. It would be best in the interest of your fleet that you choose a service that is flexible and can adapt and evolve as and when necessary.

Conclusion

Apart from choosing the kind of ELD solution you need, it is also important to select a reliable ELD service provider and vendor. A vendor with good market feedback and reputation, dependable and approachable customer service, and competitive prices will be the best option. 

We hope that this guide will be of help when you choose the ELD you need for your business.

Want to share some suggestions and tips with us? Leave a comment below!

How To Start A Trucking Business- Complete Checklist

The trucking business is one of the major industries of the USA. It is responsible for transporting more than 70% of goods all over the country, which is worth more than $791.7 billion.

It is a profitable business. And that is why there are over 500,000 trucking companies currently operating in the USA. According to a report, an owner-operator can easily make $2,000-$5,000 per week depending on the type of freight and the number of trucks they own. 

Do you also want to share the profits by starting your journey as a truck business owner but don’t know where to start? If yes, then check out this detailed checklist. We have covered everything, starting from deciding the name of your business to fulfilling legal requirements. 

Why Should You Start Your Trucking Business?

Trucking is an essential part of the US economy. A big part of our country’s GDP comes from this industry. It is the one business that is recession-proof as there will always be a need for this industry to transport goods and services across the country. 

But if still there is a doubt in your mind about whether you should take a risk and leave your job to form a trucking business, then here are a few reasons to encourage you: 

  • You can start your own trucking company with one or more trucks. You don’t need to invest more to start earning profit. 
  • You can also increase your profit by establishing your contacts with your clients and finding more loads. 
  • With proper planning and strategy, you can improve your profit margin. 
  • The success of your business depends on how you will manage the operation. 
  • Several tools are available in the market to help you streamline various business processes and boost productivity. 

Cost Associated With Trucking Business

You need to invest a little to start a business. But if you are not aware of the cost associated with starting your trucking company, here is a glance for you:

  • Documentation and registration: $500
  • IRP plate: $900-$1,500
  • Taxes for heavy-duty vehicles: $500-$3,000
  • Additional State Tax: $500
  • Salary of the employees: $40,000
  • Purchasing a truck: $15,000-$175,000
  • UCR: $96-$206
  • BOC-3 form: $20-$40
  • USDoT and Motor Carrier Authority Number: $300
  • SCAC: $72
  • Insurance: $10,000 per truck
  • Endorsement of CDL: $2,000-$8,000

Complete Checklist- (How To Start Your Trucking Business)

Start With Proper Planning 

Everything begins with a proper plan. And therefore, before you start brainstorming different operations, have a clear picture of your business. 

Before you start anything, make sure you have decided the name of your business, target market, and rate. 

Name

Deciding the name of your business is a crucial process. It will be how your clients will remember your organization in the future. Additionally, look for a name that reflects the character or your business value. 

You have to make sure that no other company uses the same name as you decide. For this, you can search the USPTO trademark database. 

Target Market

After the name, you need to have a clear picture of your target market. There are several industries and market options for you out there. But you have to be specific about your niche. It will help you find better freight and tie-up with larger firms. 

Rates Per Mile

The next part of planning your trucking business is to determine the rate you will be charging your customers. You have to choose a rate that is profitable for you as well as sound for your clients.

Business Plan

A proper business plan can guide you through different stages of your business. You can use it as a road map to structure, operate, and create strategies. 

There are two types of the business plan that you can make:

  • Traditional plan
  • Lean start-up plan

The traditional one is a detailed and comprehensive plan. But it is a time-consuming task. So if you want a flexible option, you can go with a lean start-up plan. 

It is a flexible business plan that is relatively simple and highly adaptive to changes. 

A business plan should include these elements:

  • Key partnerships (suppliers, manufacturers, contractors)
  • Key activities (how your business is different from others)
  • Key resource (your assets)
  • Value proposition (your unique value proposition)
  • Customer relationship (how customers will interact with you and your business)
  • Customer segments (your target customers)
  • Channels (how you will communicate to your customers)
  • Cost structure (your cost optimization strategies)
  • Revenue streams (list ways your company will earn money)

Financing 

You need a heavy initial investment to start your own trucking business. So you can either seek investors or get a business loan to fulfill your financial demands. 

Based on your business structure, you can also consider selling your equity to get investments. Funding is more advantageous than loans as you don’t have to pay them back. But share the ownership and profits with the investors.

But if you don’t want to share your business with others, you can check with banks or credit unions for loans. If you are a start-up, then a credit union can be an easier choice for you. Many large banks ask for two years of operating history. 

You can find different business loan options in the USA that can help you to kick-start your trucking business. 

SBA Loans

SBA loans are popular types of loans as they charge low-interest rates and have generous repayment terms. But it is not easy to get a loan because you will need a good credit history, credit score, and lengthy paperwork. 

Commercial Truck Financing

Another great alternative is commercial truck financing. You will have to provide the quote to the lender, and they will pay you the amount you need to purchase equipment. You can repair that over a fixed period with interest. 

Small Business Term Loans

You can also choose small business term loans. These are relatively easier to get because they have easier processes and lower credit requirements. The only drawback is that you will have to pay a little higher interest rates than the SBA loans. 

Business Bank Account

You will need a business bank account to do financial transactions. It will also help you apply for a license, permit taxes, etc. Immediately starting with it can help you get a good business credit score. It will help you to get loans and funds easily in the future. 

Legal Registration

There are several legal requirements that a new owner-operator has to fulfill. Let us list them one by one:

Business Structure

The next step includes determining the legal structure of your business. There are four options for you:

  • Sole proprietorship
  • Corporation
  • Limited liability corporation
  • Partnership

Some suggest that sole proprietorship is the cheapest and easiest way for you to fill in tax details. Others believe that LLC is more efficient than it. 

Additionally, LLC allows you to shift liability while retaining your assets. 

CDL

Whether you are going to drive your trucks or hire drivers, you need a CDL. To get that, you have to undergo an extensive background check, training, written exam, driving test, etc. 

And if you are planning to hire more drivers, make sure to look for their CDL. 

US DoT And MC Number

If you want to operate in the state, you need USDoT and MC numbers. 

The USDoT number is used to track your safety and compliance records. And the Motor Carrier authority numbers, also known as an operating authority, determine your company type and classifies the cargo you ship. 

You can get both numbers by registering your business with the FMCSA (Federal Motor Carrier Safety Administration). While you can get your numbers, the FMCSA has the authority to review them. The administration will give you ten days to look at any contests against your application. 

2290 Tax Form for Heavy Vehicle Use Tax Regulation

If your truck weighs more than or equal to 55,000 pounds, you fall under the purview of the federal heavy highway vehicle use tax. You will have to complete and file 2290 Tax forms with the IRS annually to pay taxes. 

IFTA

The IFTA agreement ensures uniform reporting of fuel consumption by trucks operating across the USA. The rule allows you to have a single fuel license to file quarterly for fuel tax returns. You need to have an IFTA decal that has to be renewed annually.

BOC-3

If you want your business to work interstate and even beyond the national borders, you will need to get an interstate operating authority. For this, you will have to fill BOC-3 form with the FMCSA. Then the administration will provide you with a process agent that will help you deal with legal cases. 

“Process Agents- they are the person who will legally represent you when someone files a case against your organization in the court. Your company needs a process agent in every state where you operate. They will also help you to complete your BOC-3 paperwork.”

Standard Carrier Alpha Code

If you plan to haul goods for the military, government, international, and intermodal, you need to get a SCAC code. You can acquire this from the National Motor Freight Traffic Association. 

UCR

The next thing you have to do is complete your unified carrier registration. This system confirms that a motor carrier has active insurance coverage in the state where it operates. You can register your UCR by using USDoT and MC numbers. 

IRP

To operate in all states of the USA and even in some provinces of Canada, you need an international registration plan (IRP) plate on your vehicle. You can acquire this from your local DoT. You will also have to pay annual fees to renew it.

Assets 

Now that you have fulfilled your legal requirements, you need to start with acquiring your assets. 

Truck

You cannot start a tracking business without a truck. But buying a vehicle is not as easy as it seems. You have to consider various things to land on the correct choice for your firm. 

  • First of all, choose the ideal truck for your business. Make sure to consider your business type, target market, etc., before you come up with an answer. 
  • Next, make sure to double-check the cost of trucks from different vendors. 
  • Also, try to negotiate with the seller to find the best price for your truck.
How to start a trucking business
Source: Connecteam
  • If you don’t have any budget constraints, it is always better to go with a quality vehicle. It will ask for heavy investment initially but would benefit in the long run.
  • If you are thinking of purchasing a second-hand vehicle, then ensure to observe it before you choose it.  

You can also own a truck in different types of leasing options:

Operators – in this type of leasing option, you own the vehicle – full time. And you are responsible for paying taxes, seeking permits, and scheduling maintenance. But once the lease term is over, you have to turn in the vehicle. 

Lease- purchase – in this type of leasing option, drivers can get their trucks right away but have to pay interest. 

Terminal rental adjustment clause- for this, you have to give the downpayment initially. After the lease period, you can either pay the remaining balance or let the leasing company sell the vehicle and get your profit share. 

ELD

FMCSA has made the use of ELD compulsory for all commercial owner-operators. So if you fall under the jurisdiction of the ELD rule, you need to get an ELD for your vehicle. It will help you comply with the existing rules and avoid ELD violations

If you want an affordable yet powerful solution, you can purchase it from Matrack. 

Matrack Inc is a reputable vendor in the industry. 

Insurance

You also need insurance covers to operate your business. It protects your company from emergencies and absorbs financial losses. 

You will have to purchase different insurances, including:

  • Insurance for primary liability
  • Insurance for cargo
  • Motor insurance
  • Insurance for drivers
  • Insurance for accidents of passenger

Employees

Unless you are the sole owner-operator of your trucking business, you need to hire some employees. 

Identify Who You Need To Hire

First of all, you need to know what positions you have to fill. You have to employees including: 

  • Driver
  • Manager 
  • Secretary 
  • Logistics coordinator 
  • Dispatch Operator

Find Employees

You can hire employees by posting jobs in advertisements on different job portals. Or employ a recruitment agency. 

While hiring, you need to verify their background and qualifications. You need to ensure that the drivers have their CDL and clean driving record. 

Market Your Company

After successfully opening a trucking business, you need to adopt different marketing strategies to ensure TD income flow. 

Some of them are listed below:

  • You can create a professional website with information about your business and the services you offer.
  • You can use memorable logos and brochures to market the service you offer.
  • You can use online load boards to find loads. 

Employing Right Tools

Managing a business becomes easy when you have the correct tools at your departure. 

Several tools can help you to streamline various business processes and boost productivity. Let’s discuss them one by one. 

GPS Tracker

GPS tracker is one of the most essential tools you need to have in your fleet. It allows you to get real-time location updates of your trucks. It can help you streamline route management, improve safety, and increase customer satisfaction. 

Fleet Management Software

If you have more than two trucks in your fleet, you should consider getting fleet management software. It stores data in a cloud-based platform and makes it easy for you to analyze trucking patterns. With the help of its artificial intelligence and machine learning capacity, it can help you make difficult decisions. It also reduces your workload by streamlining every aspect of your fleet operations. 

Freight Factoring Service

Freight factory service can help you maintain continuous cash flow in your fleet. 

While clients often pay their bills, small business operators can’t wait for 80-90 days to get cash. They need immediate money to operate. And that is where fleet factoring service can help you. 

The company can exchange the bill for cash for a nominal fee, and you can resume your activities. 

Fuel Card

Fuel Expenses are a big part of any fleet budget. With the increasing fuel prices and growing demands, you have to take advantage of fuel cards. 

A fuel card can help you to get discounts on your fuel purchases. Additionally, some can also offer you rebates on truck stops and maintenance. 

Matrack Inc- The Best Solution For Your Problems

Matrack Inc offers various solutions and services to make your trucking journey easy. It is a leading provider of GPS and asset tracking solutions owing to its affordable prices, cutting-edge technology, and outstanding customer service. 

Here are some highlights of Matrack for you to prove our claims:-

  • Affordable and straightforward solutions.
  • No long-term contract
  • No activation or hidden fees
  • Increase your revenue by $10,000 with the Matrack dispatch service
  • Rescue your fuel expense by 10-15% with the Matrack fuel card
  • Get discounts on your insurance premium with Matrack’s auto-insurer network
  • Maintain continuous cash flow in your fleet with Matrack’s non-recourse freight factoring service. 

Do you want to know more? Click on the link or email us at support.gps@matrackinc.com. Or simply, give us a call at 855-658-7225! 

Top 9 Highest Paying Jobs For Truck Drivers In 2022

A career in the trucking industry can be rewarding. An experienced truck driver with a clean driving record can earn as high as $85,000 annually. 

But the salary varies depending on various factors, for example, experience, driving record, organization, type of load, and mileage, are some of them. So if a driver is taking more risks and completing a difficult job, their compensation will be higher than others’ daily tasks. 

If you are an aspiring truck driver or wondering how you can increase your income, then read this article till the end. Here we will discuss some of the highest paying trucking jobs in 2022.  

Average Truck Driver Salary

According to the US Bureau of labor statistics, the average pay for a truck driver is $47,130 per year or $22.66 per hour. 

In the US, the salary of a truck driver is calculated according to their working hours. They are paid up to $20-60 per mile. It is known as CPM.

Truck Driver Salary In Different States 

Here are the truck drivers’ salaries in different states. You can look at them to know how it varies from region to region.

StateWages (per year)
Alabama$56,000
Alaska$42,000
Arizona$46,000
Arkansas$51,000
California$55,000
Colorado$46,000
Connecticut$55,000
Delaware$49,000
Florida$50,000
Georgia$54,000
Hawaii$40,000
Idaho$45,000
Illinois$56,000
Indiana$56,000
Iowa$50,000
Kansas$48,000
Kentucky$53,000
Louisiana$49,000
Maine$49,000
Maryland$53,000
Massachusetts$59,000
Michigan$49,000
Minnesota$50,000
Mississipi$68,000
Missouri$55,000
Montana$52,000
Nebraska$45,000
Nevada$48,000
New Hampshire$53,000
New Jersey$53,000
New Mexico$47,000
New York$60,000
North Carolina$48,000
North Dakota$52,000
Ohio$50,000
Oklahoma$48,000
Oregon$50,000
Pennsylvania$47,000
Rhode Island$53,000
South Carolina$48,000
South Dak$47,000
Tennessee$50,000
Texas$50,000
Utah$48,000
Vermont$55,000
Virginia$53,000
Washington$47,000
Washington$59,000
West Virgin$58,000
Wisconsin$44,000
Wyoming$61,000

Factors That Affect Salary Of Truck Drivers

Several factors affect a truck driver’s salary. Let’s discuss them one by one:

  • Higher Risks

There are many jobs that possess a higher risk than others. Sometimes the drivers have to ship hazardous materials. Any carelessness can cause disaster, and your & other’s life will be in danger. And this is why the fleet manager would pay you higher than others. 

  • Liability

Another important factor is a liability. If you are responsible for an expensive load, you are likely to get good pay because of the responsibility that comes with it.  

  • Higher Skill Set

If you are highly skilled in a specific niche, you can easily find a job in a decent organization with a profitable salary.

  • Clean Driving Record

While recruiting, the company’s recruiter will likely check your past driving record. If it is clear and proves that you are a safe driver, you can expect decent pay. 

  • Experience

An experienced driver is a better choice for any organization as they are adaptable, skilled, and can deal with unwanted situations smoothly. But it is not easy to find one in the industry, so if you are a truck driver with more than five years on the road. And have a good driving record, you can expect advantageous compensation from the organization.

  • Distance And Route

Longer hauls require you to travel for more than 3-4 days. You can expect a lucrative salary if you are ready for such hauls.

National Average Salaries By Specialty

SpecialtySalarySpecialtySalary
Boat Haulers$34,000Household Goods Drivers$54,000
Vocational Drivers$35,000Local Drivers$55,000
Dry Van$44,000Tanker Drivers$55,000
Reefer Drivers$46,000Auto Drivers$59,000
Team Drivers$51,000Flat Bed$60,000
Interstate Drivers$53,000Regional Drivers$67,000
Dry Bulk Pneumatic$53,000LTL Drivers$84,000

Top 9 Highest Paying Jobs In Trucking 2022

Specialized Team Driver

Team drivers are probably the highest job in the trucking industry due to the sensitivity of the loads. These drivers work for specialized departments, for example, the department of defense or banks. They are responsible for transporting self-defense equipment or similar things. 

It is a sensitive matter, and therefore, they have to go through a detailed background check. And also, you have to pass specific qualifications. These processes are so lengthy that most truck drivers give up in between. Additionally, it is also not easy to pass this process. And therefore, it is a tough nut to crack. 

But whoever successfully clears all the processes and checks they are paid heavily. You can expect upwards of six figures every year. 

Heavy Haul Driver

Another promising job for a truck driver is heavy haul driving. For this job, the driver has to attain specific years of experience, certificate, and skill set. They are responsible for transporting oversized hauls. It may look easy at first glance, but it is not. 

The driver should have years of driving experience, impeccable maneuvering skills, and patience. And also, they have to be informative and adaptable to different and changing rules of federal and state. 

How do owner-operators get paid? Both ways explained.
Source : Schneider

Hazmat Haulers

Hazmat hauling is another highest-paying trucking job. A hazmat hauler is responsible for loading, transporting, and unloading materials such as flammable liquids or corrosive substances. It is a job with severe liability and risk. 

The drivers have to pay special attention and care while driving and also, follow precautions as there is the risk of being exposed to dangerous fumes. A hazmat driver can expect to earn more than $87,000 annually. 

Tanker Hauling

Tanker drivers also paid handsomely. They are responsible for transporting dangerous material. And on occasion, ship liquid such as milk or water. They are not easy to transport and require great attention. 

Refrigerated Goods Drivers

Other decently paid drivers are refrigerated-good drivers. They are responsible for transporting refrigerated goods. The challenging part is that it needs to be delivered at a specific time. Any delay can spoil the quality of the goods, and the driver or their company can be held responsible. Additionally, they have to be comfortable with night driving as the delivery happens in the morning. 

Private Carrier Drivers

Another option for you is to become a private carrier driver. In this, you will have to work for a large organization. But it is not easy to get a job there because you will have to fulfill their criteria. For instance, they can ask for a clean driving record, a year of experience, or a particular niche skill. 

Special Car Haulers

Special car haulers are responsible for transporting luxury cars. The cargo is expensive. And hence, they have to be meticulous on the journey. 

And as already stated in the above section, the more expensive your shipment is, the higher you will be paid because of the liability. 

Owner Operators

Do you dislike others giving you orders? Well, then you can become your boss. How? You can become an owner-operator like other 350,000 or more truck drivers. 

An Owner-operator is a driver that owns a trucking business. They manage every aspect of it, from getting loads to driving, and invoicing bills. While it may look like a difficult job, it is a paying one. You can expect a profit of more than $221,000 if you do a good job. 

You can work independently or sign a lease with a fleet for loads. It is a difficult job where you have to pay attention to each operation, but you can surely make it with proper experience, skills, and technology. 

Ice Road Drivers

Ice road drivers operate in challenging terrain and risky road conditions. They often deliver cargo in remote areas while facing several challenges. It can be on the icy highways of the northern region or in the extreme wilderness. The truck driver needs to have specific experience and skills to navigate safely through the ways. The ice road drivers are paid nicely owing to the difficulty and risk associated. 

Mining Industry Drivers

Another highest paying job in the trucking industry is the mining industry driver. The drivers have to have specific skills and experience to transport ores or raw materials of the mine to the surface. It is not an easy job because any rash movement or impact can collapse the walls burying the whole thing. 

Final Words

The trucking industry can be a rewarding job for you if you are experienced, have proper driving skills, and have a clean driving record. You can try getting a job in any of the above-suggested jobs for higher salaries. Do share your thoughts or queries in the comment section below.

10 ELD Devices Small Fleets Can Opt For In 2022 (Ratings & Reviews)

The best ELD devices on the marketplace currently can help your business grow exponentially. One of the immediate concerns for small fleets is guaranteeing compliance with regulatory requirements. Authorized electronic devices play an essential component in this.

When the ELD mandate required all commercial vehicles to have ELD systems, the market saw increased products promising security and reliability with FMCSA regulations. After a few years, the devices’ functionality and features have improved. Regardless of fleet size, most commercial bus and truck drivers in the United States must comply with the ELD mandate and maintain their RODS using an electronic logbook device. These rules apply to drivers in Canada, Mexico, and the United States. You are almost certainly required to follow FMCSA ELD rules if you must maintain HOS records unless you qualify for one of the following exemptions: 

  • 8/30 Day Exemption – Drivers who keep RODS for a maximum of eight days out of every thirty days may do so on paper.
  • Short-Haul Operation – Drivers who qualify for this exemption may keep paper logs. They are not required to use RODS or an e-log.
  • Manufacturing Date Limit – Applicable to the engines of vehicles manufactured before 2000. 
  • Drive-Away-Tow-Away Operations – Drivers who perform drive-away-tow-away operations signify that the vehicle driven is part of the delivery.

If you’re a fleet manager seeking the best ELD devices for small fleets to improve your team’s performance, you’ve come to the right place!

Something You Must Know Before Selecting An ELD For Your Business – Benefits Of ELD Devices 

  • Security – The Federal Motor Carrier Safety Administration (FMCSA) estimates that ELDs protect 26 lives and prevent 562 injuries each year. ELDs can also help avoid numerous accidents by providing more efficient route management, GPS tracking, fault-code monitoring, and timely identification of rough driving behaviors such as distracted driving or tired driving. 
  • Reduction Of Liabilities – You can use the data collected by the ELDs as evidence. Another advantage of ELDs is their consistency and accuracy in a recording. A written record is only as good as the driver’s ability to keep track.
  • Diagnostics Of Vehicles – Because an ELD connects to a vehicle’s diagnostic port, it can constantly monitor fault codes. As a result, with real-time alerts and detailed reports, you can stay ahead of vehicle maintenance issues. Prevention and containment measures can be taken at the right time, resulting in increased efficiency and productivity.
  • Reduction In Fuel Waste – Tracking how much time each driver spends idling allows you to identify drivers who stop for too long or too regularly, potentially saving hundreds of dollars in the long haul.
  • Better Route Management And Location Tracking – ELDs enable fleet managers to carefully monitor vehicles via GPS tracking, providing real-time visibility and increasing productivity. GPS tracking, breadcrumb trails, and location history can assist fleet managers in formulating the best routes. Routes that are shorter save time, fuel, and money. 

Before diving deep into the ten best ELD devices for your fleet business, you must understand their benefits. ELD has many advantages for the individual, owner, and fleet managers who oversee enterprise-wide fleets. ELDs, when used correctly, can optimize operations, reduce operational costs, maximize productivity, and increase profits. 

Top 10 ELD Devices You Need To Get Your Hands-On 

Disclaimer: 

Selecting the ideal ELD for small fleets can be difficult if you don’t know where to begin. The following article will describe the 10 ELD devices today, allowing you to make an informed decision when selecting your ELD provider. 

Matrack ELD 

The Matrack ELD hardware system is free with a monthly charge beginning at $14.95. Users will receive a lifetime guarantee and will be free to cancel at any period because they will not be obliged to a contract. Our research found that Matrack offers a diverse range of features and is easy to use, making it a perfect choice for businesses on a budget. 

Users only need to install their ELD and download the application after registering. Matrack does not work with cloud or on-premise software and is only available on desktop for Mac and Windows and mobile for iOS and Android. 

Matrack’s ELD solution includes fuel tax tracking capabilities and useful ELD compliance features such as an audit trail and the ability to run timers to record employee working hours. It’s a low-cost, no-frills solution for those that need ELD compliance but don’t need fancy features. 

Customers can contact Matrack’s support team by phone or email from 8 am to 5 pm, Monday through Friday. Online manuals and video tutorials are available too.

Benefits:

  • IFTA fuel tracking
  • Real-time location tracking
  • Serves all fleet sizes
  • Employee timeclock
  • Violation tracking
  • Audit trail

Pricing:

  • Starts at $14.95/month with no contracts
  • Free ELD

KeepTruckin ELD 

KeepTruckin ELD device

Because of its ease of use, the KeepTruckin ELD is a high-rated device. KeepTruckin is one of the more appealing ELD options thanks to a robust feature set, a convenient interface, and a reasonable price. The introduction of technology to replace their trusted logbooks was quite an adjustment for drivers who have been on the road for decades. KeepTruckin also offers 24/7 support, making them an option for any fleets that require tracking their HOS in a simplified manner. 

KeepTruckin provides an ELD solution for all vehicle sizes and a basic plan that involves ELD enabled logs, two-way messaging, GPS location tracking, and customizable vehicle inspection attributes such as vehicle records and automated notifications. It’s a slew of features that encompasses all you could anticipate from an ELD, and it’s far more than most providers, making this service an excellent choice for notably feature-heavy fleets with the supplies to do so. 

KeepTruckin hardware units start at $150 per month with a one-year contract. Light and medium-duty vehicle units can be wired to the OBDII port, whereas heavy-duty vehicle units can work through 6-pin and 9-pin diagnostic ports. 

Benefits: 

  • Reduced fuel wastage
  • Alerts from HOS
  • Diagnostics of vehicles
  • Reduction of liabilities
  • Real-time location tracking
  • Better route management and security
  • 24/7 customer support

Pricing:

  • $20 to $35 per month for a subscription 
  • $150 per device

Samsara ELD 

ELD Compliance Solutions | Samsara

The Samsara ELD works best for fleet managers looking for a complete fleet management service. Samsara (founded in 2015) has rapidly become one of the best ELDs for small fleets due to its functionalities. They provide comprehensive fleet management initiatives that are considered one of the best. The initiatives include reefer management and trailer tracking. 

Another advantage of using Samsara ELD devices is that you don’t need to invest in a Field Management System to buy the ELS-compliance package. You can upgrade to the program while maintaining the app infrastructure and dashboard of the ELD-specific software.

 Samara’s ELD solution consists of a device that connects directly to a vehicle engine’s OBD port and works with a smartphone app that allows drivers to monitor and register vehicle information in real-time. Furthermore, dispatchers can use a dashboard to view the HOS for most of their operators in one place. The devices are simple to connect and configure. 

Benefits:

  • Intuitive app interface
  • Easy setup process
  • 24/7 service
  • Clear fleet visibility
  • Vehicle diagnostics
  • Plug and play hardware
  • Cloud-based storage
  • Upgrading to FMS is simple

Pricing:

  • $30 starting price for monthly service
  • $129 for hardware 

Garmin eLog

Garmin eLog Compliant ELD

Garmin eLog can show a fruitful learning curve in setup and everyday use. Garmin has no ongoing costs, and hence it stands out as one of the best and most consistent ELD investments. When drivers grasp it, the Garmin eLog can save a company thousands of dollars per month. It gets the job done and even provides fuel tracking. 

The Garmin eLog is the size of a fist. It provides ELD-compliant logs that you can access locally via USB and Bluetooth for roadside safety checks. The free downloadable mobile app allows drivers to manually enter their readiness and easily see how much time is left. Fuel tracking via IFTA is also supported. The units are compatible with 6-pin and 9-pin ports. However, they are not compatible with OBDII ports. 

Benefits:

  • Free mobile application
  • 24/7 customer service
  • No ongoing costs
  • Tracking of fuel
  • Data backed up on the mobile application
  • Serves fleets of all sizes

Pricing:

  • $250 initial (no monthly cost)

EROAD Ehubo ELD

EROAD Ehubo ELD

The Ehubo device from EROAD stands out for the features and functionality that a fleet needs to track HOS, providing daily and weekly summaries that include on-duty status, vehicle idle-time, and resets. The Ehubo software monitors safety and fuel tax adherence. They are two useful features that not all ELDs provide. The physical device is sturdy and precise, making it a good fit for extreme conditions. It also includes one unique feature: a “Smart Short Haul” function that instantly addresses short-haul exemptions from the ELD mandate.

It may not be as feature-rich as the more expensive options, but it makes up for its accuracy, durability, dependability, and affordability. EROAD ELD is perfect for anyone looking for an affordable option, as the device does not require prepayment, and an affordable monthly plan is available. 

The EROAD Ehubo is the perfect solution for your fleet’s drivers who want an ELD that makes roadside checks fast and easy with little to no learning curve. Customer service by phone is available during regular hours, but not 24 hours a day, seven days a week. 

Benefits:

  • Cloud-based storage
  • Integrated tax/miles tracking
  • Fuel and safety tracking
  • Handles short-haul exemptions
  • Excellent support team
  • In-vehicle unit
  • HOS violation reports

Pricing:

  • $35-$60 per month

BigRoad’s Dashlink ELD

DL200_Suite_cable_dashlink_SM-1

The Dashlink system is a stand-alone ELD solution with all the necessary features – HOS (Hour Hours of Use), service status, and quick reports. It also includes some notable additional features, such as fuel tracking and notification to the manager when a violation occurs. Dashlink also exhibits road congestion to inform drivers of their estimated arrival time and how it may shift in the future.

The BigRoad DashLink is a simple and cost-effective solution for meeting ELD mandate requirements. There are no upfront costs or restrictions on driver duty status, and drive time is automatically recorded for HOS compliance.

BigRoad provides a free trial, demo, and free downloadable materials such as guides, videos, and ebooks on their website. The Dashlink ELD solution package offers each vehicle a plug-and-play hardware unit that installs and pairs the BigRoad mobile app via Bluetooth, but with no hardware upfront costs.

Benefits:

  • Easy to install and user-friendly
  • Real-time GPS tracking
  • Traffic display
  • IFTA and document scanning
  • Low cost
  • Two-way messaging
  • Fuel tracking 

Pricing:

  • $40 per month
  • $1440 per year with a device

GPS Trackit ELD

GPS Trackit ELD

GPS Trackit’s ELD system, like Matrack’s, is accessible to fleets without tying them to a contract. The service provides simple, plug-and-play hardware units and software that provide all the necessary features and capabilities for an ELD mandate-compliant system. Uptime is automatically tracked along with the time stamp when the driver logs on or off.

With the push of a button, drivers can generate and transmit reports, and maintenance checklists can guide them by inspecting air compressors, drivelines, and other equipment. 

Benefits:

  • Easy Installation
  • No Contracts
  • Maintenance checklist
  • Intuitive Interface
  • Downloadable app on Playstore
  • Customized alerts

Pricing:

  • $24.95 per month with no contracts

Verizon Connect Reveal ELD

Verizon connect eld

Verizon Connect’s ELD solution connects with Verizon Connect Reveal’s fleet management system. One can be discouraged by fleets looking for quick ELD compliance, but it adds optimization features such as live maps and geofencing and access to field services and asset tracking options. 

The logbook is a necessary ELD add-on, and it provides drivers with the alerts they need to monitor their HOS and avoid breaches and managers with a bird’s-eye view of which drivers have a chance to carry on another assignment. Phone support, live online support, chatbots, video conferences, and training materials are all available.

Benefits:

  • Risk warning alerts for drivers
  • Mobile phone and online support
  • Strong Support
  • Administrator dashboard
  • Free demo

Pricing:

  • Personalized quotes

Teletrac Navman ELD

Fleet Manager Software 1017X601

Teletrac Navman Director, like Samsara, is a renowned FMS service. It has an A+ rating with the Better Business Bureau, offers role-based assistance for drivers and managers, and offers both on-demand and live ELD coaching, with 21 on-demand courses preinstalled on each ELD device.

Customer service is available by phone, email, and online. Teletrac Navman does not publish pricing, but it changes based on fleet size, and their full FMS is reasonably priced compared to the industry average. It’s simple to upgrade to their FMS or other solutions, such as fleet safety and workflow management software. 

Benefits:

  • Upgrading to FMS is simple
  • Intuitive Interface
  • On-Demand and Live Training Courses
  • Role-Based Support
  • Free Demo

Pricing:

  • Personalized quotes

GPSTab

ELD Compliance Solutions | GPSTab

Truckers designed the GPSTab ELD cloud-based app for truckers. Because there is no ELD device, you can use any existing mobile device to connect to the app and save hundreds of dollars. With a low monthly fee and suitability with almost any server, this app is hard to challenge. 

GPSTab is best for those who already own mobile devices.

Benefits:

  • Vehicle diagnostics
  • Geofencing
  • 24/7 customer support
  • Free trial offer
  • In-person and online training
  • Video tutorials and demos
  • Asset tracking
  • Driver management
  • IFTA reporting

Pricing:

  •  $29 per month

Conclusion 

Once you’ve determined which vendors you want to work with, compare prices to ensure the best deals. The vendor could offer you a quotation tailored to your specific requirements if you have a large fleet.

You’ll need to search and compare prices tailored to you to guarantee ELD compliance while saving your operation money over time.

Learn How To Build A Fleet Management Budget In 4 Easy Steps

No matter how many parameters there are in judging the success of a fleet, it always comes down to money. And the cardinal rule to making profits is managing the money you already have. A fleet budget is a rightful determinant of well-run operations. The success of a fleet is often measured by how its manager manages or controls the expenses. A budget, when created thoroughly, can help a fleet set its financial target and highlight the areas that need improvement. 

Budgeting is tedious work. Without enough information, anyone can find it a complicated and time-consuming process. So whether you are a veteran fleet manager or new to the role, here are some steps that you can undertake to create a functional and flawless budget for your fleet. 

Fleet Costs Or TCOs

Calculating and managing expenses should be the focal point for any fleet. It all starts with determining and calculating the fleet costs, also known as the total cost of ownership. Knowing the TCO  helps with budget management, allowing you to take proactive decisions for asset replacement. 

First, let us understand what TCO is. 

Fleet cost or total cost of ownership is the total cost associated with asset management. It includes costs related to the purchase and maintenance of vehicles in the fleet

There are two types of expenses categories comprising TCO:-

  • Fixed cost
  • Variable cost

Fixed cost: 

As the name suggests, this category is for fixed expenses that include taxes, purchase, loan or lease payments, insurance, registration, depreciation, etc. 

Variable cost: 

This type of cost fluctuates every month due to various factors. It includes parts replacement, fuel expenses, maintenance, parking, tolls, etc. 

Among the above, fuel and maintenance costs constitute the largest operating cost of a fleet. And hence, it is significant for a fleet manager to monitor these expenses and take action to control them. 

How To Build A Fleet Management Budget?- Four Simple Steps To Follow

Set Goals

Planning for a budget is just like planning for everything else. So the first step is identifying your goals. But your goals must be realistic. And to do that, you will need to go through your previous budget or financial performance. 

First of all, you should begin by specifying goals for your fleet. One of the ways to do so is by SWOT analysis

SWOT analysis helps a business identify its strengths, weaknesses, opportunities, and threats. For example, it can help you identify where you are overspending or where you have to spend a little more than usual. And also which asset you have to purchase or replace to improve your productivity.

SWOT Analysis
Fleet Management Solutions Market SWOT Analysis by Advancement from 2019–2025 | Arvento Mobile Systems, Astrata, Autotrac

You can construct your budget according to the goals decided for the upcoming year. It will help you to allocate money to various operations under a set strategy.

Some of the expenses that a fleet has to incur are: 

  • Gas and fuel cost 
  • Vehicle maintenance cost
  • Tax or licensing fees 
  • Vehicle depreciation
  • Insurance or accident claim
  • Safety programs
  • Interest cost 
  • Parts replacement

Review Previous Year Expenses

The second step is reviewing the past year’s expenses. Reviewing the previous budget helps the fleet manager identify mistakes and look for room for improvement. 

It is also important as you can use it to develop the baseline for the current budget.

It can also help them to access the answer to various questions:

  • Did they overspend or underspend?
  • Which was the largest area of expenses?
  • Are the assets of the fleet utilized- properly or not?
  • What was the unexpected expense?
  • What were the measures taken to control or reduce the fleet cost?
  • Did they achieve their previous year’s goal with the budget? 

These questions will not only help you to identify where you were wrong but what measures you have to take this year to correct those mistakes. 

For example, if the maintenance cost is higher than usual, you can select a fleet management software such as Matrack for preventive maintenance schedules and service reminders. Or arrange a driver training program to help drivers overcome reckless driving behavior.  

Budgeting Technique

An ideal budget is well prepared for the upcoming future challenges. It is prone to unexpected costs and inflation. 

There are two different techniques you can use to cope with the fluctuating costs: 

  • Incremental Budgeting
  • Zero-based Budgeting

Incremental Budgeting

It is one of the most common types of budgeting. A flat increase, say 4 to 5%, is added to the previous year’s expenses. This technique tries to make adjustments for unknown expenses such as inflation. 

While this is an easy way to cope with the fluctuating cost, it has some major shortcomings. 

First of all, it does not assess whether the spending done in the previous year was appropriate or not. And secondly, it may encourage overspending. 

This technique can help small businesses or new owners operators to outline their budget but can be detrimental to large fleets.  

Zero-based Budgeting

The zero-based budgeting technique is more detailed and rigorous than the incremental method. 

According to this, the budgeting process starts from zero without considering the previous year’s expenses. A manager has to review the expenditure of each fleet and approve it accordingly. 

This technique aims to achieve an optimal allocation of the resources by making managers justify each expenditure.

The whole process involves five different stages:

  • Analyzing the causes of the activity
  • Determining its purpose
  • Finding alternative ways to do the same thing
  • Establishing performance measure
  • Accessing the consequences of not performing it. 

To start with, you have to ask yourself these questions:

  • Is this expense necessary?
  • What if the activity ceases?
  • Is the current amount of money adequate for the function?
  • Alternative ways to carry out the same activity

Monitor, Control, And Reassess Fleet Budget

After you have completed the above process, all that is left is to keep everything in alignment. You have to periodically examine the actual expense and income against the projections in the budget and make changes if needed. 

You can make monthly, weekly, and even daily reviews according to the situation. You can also benchmark the budget against your previous year’s expenses for more clear insight. 

How Can Matrack Fleet Management Reduce Expenses?

The Matrack fleet management software helps you determine all of the above expenses. It also calculates your fleet TCO automatically, saving your time for other activities. 

Fuel is the largest expense of a fleet budget. The Matrack offers you a fuel card to provide you with discounts on fuel purchases. You can integrate it with fleet management software to get a broad overview of the fuel expense of your fleet. It automatically updates the data according to the fuel purchase made. So you don’t have to waste your time manually entering the fuel receipts for better fuel consumption data. Additionally, you can integrate Matrack fuel card service with the fleet management software to receive 10-15% off on fuel purchases and IFTA refunds. 

Maintenance is the other major expense of a fleet operating cost. Matrack helps you stay on time with vehicle maintenance with features like preventive maintenance schedules and service reminders and save up to $5k. By tracking every aspect of your maintenance, you can prevent unexpected breakdowns and improve the lifetime of the vehicles.  

With complete visibility over your expenses, you can save yourself from overspending. 

Apart from this, Matrack can also help you to save money in several ways:

  • It can help you with asset management. You can view the cost breakup of each vehicle and know when you have to replace it. 
  • You can maintain continuous cash flow in your fleet with the help of our dispatch and factoring service and get up to $10,000 per year at the nominal interest rate. 
  • Matrack offers you affordable and powerful telematics solutions. 
  • You have to pay the lowest monthly or annual subscription fees in the market given to our advanced features. 
  • You don’t have to sign any contract so you can activate or deactivate your subscription as per your choice.
  • You can save up to $5k with a real-time tracking feature and also improve your customer satisfaction. 
  • You can also avoid fines and liabilities with the use of FMCSA-certified ELD.
  • You can get a free ELD by paying subscription fees.
  • With our telematics system, you can improve your route management and expect an up to a $300% increase in your profits.
  • If you employ our system in your fleet, you can get up to a 15% discount on your insurance.
  • You can get all of these benefits and more at just $7 per month which is the lowest monthly subscription fee. You don’t have to sign any contracts, you can enter or exit as per your needs.  

To know more, click on the link.

Takeaway

As a fleet manager, you are responsible to monitor and control expenses. And for this, you have to learn how to make a budget.

To make a failproof budget, you need to have proper knowledge and data on various operations. A fleet management software like Matrack can help you with that. 

Matrack fleet management software can be helpful for the budgeting process. It provides you with significant data insights to identify new ways of cost-saving. When your budget is ready, it can help you to track fleet operations and associated expenses.