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.

The Ultimate Guide To Choose A Fuel Card For Your Business- Even If You Are New To Transport Business

Whether you are new to fleet management or a veteran, you know that fuel expenses take up more than 30% of the operating cost. However, fuel for vehicles is like oxygen is for people. So, a fleet cannot completely cut out the outgoing expense but needs to manage it efficiently to improve profitability and productivity. Moreover, it is also one of the most unpredictable expenses, susceptible to variations that can suddenly transform profits into losses. Fuel costs also depend on economic, regulatory, and political variables outside your control. There are a few ways a fleet can save up on fuel expenditure – one of the most popular being Fuel cards. 

What are fuel cards?

Fuel cards are just as same as any credit card but are exclusively used only for fuel purchases. They are a smart approach to running your fleet business, streamline your fuel expenses, and curb the chances of unauthorized or inefficient use of fuel. Like a credit card, the fuel card links to an account. While refilling, you can swipe this card to pay. 

Before fuel cards, fleet owners and managers had to rely on the receipts submitted by the drivers, tally them, and file for IFTA. Fuel cards like the Amex card from Matrack can integrate with the fleet management solution and automate the entire process. All the records are authentic, and there is no room for any discrepancies. There is no need to track and tally up fuel receipts because everything is recorded and classified on a single tax statement.

Many fuel cards, such as the Matrack Card, offer discounts and savings, making them cost-effective and handy.

What are the benefits of a fuel card?

Time saver

A fuel card simplifies your business’s fuel management. No more paper receipts, misplaced dockets, scanning, or month-end reconciliation — it’s all taken care of for you.

All of your fuel purchases are categorized on a single tax invoice and statement, so you’re ready for tax season.

If you have a fleet of vehicles and drivers, giving them all fuel cards might save you time and frustration when filing expense claims.

Control over fuel expense

You can maintain your fuel cards, set up monitoring systems, download statements, and check transactions at any time if you choose a fuel card with a companion app.

You also have complete control over what your drivers can buy using their cards, allowing you to track the costs connected with each vehicle in your fleet. You can create notifications to alert you if a driver goes over one of your pre-defined limits.

Value

The most important advantage of a fuel card is that it assures you don’t miss out on any tax deductions owing to misplaced receipts. However, you should select a card to create a business solution to your specific requirements.

Some fuel cards provide easy repayment choices, such as the opportunity to settle your account with a credit card, allowing you to manage your financial flow easily. Some may even give a reduction on the per-liter price of fuel, based on the size of your company.

Fraud protection

Some of the best fuel cards, such as Matrack, offer you anti-fraud technology with individual PINs to track them easily. They offer an add-on service, where you can get the vehicle number or the driver’s name engraved on the fuel card to avoid misuse and confusion. 

Easy-to-find locations

Many fuel cards are committed to a specific brand and are well-connected with many service stations across the country. However, if you are driving a truck or handling a fleet of trucks, you must know which service stations are the best on the route and plan accordingly. Fuel card vendors often provide you with an easy system to find your nearest service station whenever you need fuel, no matter where you are.

What to look for in a fuel card?

The first step is to evaluate your fleet’s vehicles and the fuels they consume. Take your time to track consumption and determine which vehicles provide the best fuel efficiency for the job at hand — fuel management software can help with this.

Consider the following questions:

• Is it more cost-effective to run my fleet on petrol or diesel?

• Are alternative fuels a realistic option in terms of capacity, cost, and my company’s environmental goals?

A fuel card can help you save money, whether you’re a startup or an established company.

Here are some of the most important factors to consider while selecting a fuel card:

Type of vehicle

When evaluating cards, the first thing to consider is the sort of vehicles in your fleet.

Whether you operate a hauling company, a national sales team, or a small mixed fleet, the vehicles you use can influence your buying decisions.

Hauling has its own set of challenges, so opting for a card that concentrates on HGV-friendly sites will save you time and money.

If most of your fleet consists of saloon vehicles, flexibility is crucial. The drivers in sales-oriented jobs require the assurance that their card will be accepted anywhere, as their travel itinerary can be unpredictable.

Type of fuel

Most fuel cards are for diesel or mixed-use fuel. However, unleaded-only fuels are becoming more frequent, so this can help you filter your options.

You might want to think about whether you want a pump-price or a fixed-price card.

With a pump-price fuel card, you pay the price displayed at the time at that station.

With a fixed-price card, you pay the fixed price despite the price at the gas station. For a more reasonable perspective on why fixed-price cards are better than pump-price cards, consider this – Fixed-price fuel is cheaper by 2-3 cents/liter than the national average pump price.

Branded or unbranded

Picking a branded or a non-branded fuel card comes down to the kind of driving your fleet will be doing. If the trips are local, a supermarket card will be better than a fuel brand card because of fuel station access.

Location and coverage

Another thing that can influence your decision is your industry niche. If your business, for example, requires drivers to travel throughout the country, a card with significant motorway coverage might be ideal.

Shell and Esso are likely to be the most prominent if you work in the neighborhood. You might come upon a Texaco station if you work in a rural area. As a result, a branded fuel card is a superior choice.

There are a variety of possibilities here, and you should consider how you travel a lot for work. There are benefits to using a local, regional, or national fuel card.

Why choose the Matrack Fuel card?

Matrack has teamed up with Amex to give you the Matrack Amex Fuel Card that has numerous benefits.

The majority of factoring firms pay in two installments, the first covering most of the receivables (meeting your demand for immediate cash flow) and the second when your client pays their bill, minus any factoring fee.

The factoring company will then purchase the outstanding invoices for a percentage of their worth and handle the debt recovery procedure once they establish the eligibility. Once the factoring company recovers the total amount of the invoices from your clients, they will refund the remaining amount owed to your business for the invoices.

How do Matrack Fuel Cards work?

Matrack offers you a 2-in-1 solution to provide more flexibility and benefits apart from additional advantages. Matrack’s Amex Fuel Card is a simple and powerful tool for drivers and fleet owners.

With the Matrack GPS tracker and American Express Fuel Card, you can access the fuel data anytime, anywhere in the US to keep the fleet running strong. You can save more and get more benefits with Matrack Fuel Cards at your choice of truck stop locations. There are no hidden charges or fees, and you can access everything such as transactions, reports, invoices online. It helps in proper systematic management. 

Benefits of Matrack Fuel Card

Here are some of the benefits of Matrack Amex Fuel Cards.

• Online Transactions – All transactions are recorded online without any upfront payments or stress about receipts.

• Control – You can classify authority and specify which driver can buy fuel.

• Hassle-free – Fuel cards have multi-fold utility. You can use the card to pay for lodging and boarding, repairs, and other truck-related purchases. 

You and your team will spend minimal time understanding who paid for what by tracking expense forms. 

You can also track your fleet’s routes, mileage, and where and how frequently they stop using a fuel card in conjunction with your GPS management software. This feature is critical when evaluating data to determine the shortest path for your fleet, saving you money in the process. 

With Matrack’s Amex Fuel card, you get a 1.5% early-pay discount and a 60-day no-interest payback period. You also get real-time fraud notifications and assistance in identifying credits, refunds and exemptions for your fleet, and a whole lot more. 

Contact us to know more about our Fuel cards and related services. 

Fleet Vehicle Maintenance: A Comprehensive Guide in 2022

It is vital that a fleet management company equips its managers with a streamlined plan so that all processes are in place. Some companies equip managers with telematics systems, while others use Excel sheets. The second one, however, can prove to be a challenge to fleet management systems. This is because drivers have the tendency to fail to report potential issues, and may wait before the vehicle is completely damaged before making the complaint.

What happens in a situation like this? Let’s say Fleet Management Company ‘A’ has a damaged car in its fleet of 20 vehicles. This means that 19 vehicles have to be rotated to meet the need of the same number of customers. This can be challenging for a company, and problematic for the employer and the employee. This also impacts productivity and timelines and therefore impacts costs.

Rather than depending on Excel sheets, fleet management companies need to build a fleet management plan that ensures preventive maintenance, which in turn reduces fleet costs and mitigates liability risks. There are many other ways by which you can improve the efficiency of your fleet business.

In this article, we will discuss the steps you need to take to maintain a seamless, hassle-free fleet management plan.

But before you get into the detailing, let us first understand why fleet maintenance systems are vital for smooth processes. 

Let’s go back to Company A and now let us assume that it had a robust fleet management system. If this system is in place, then the vehicles can be well-maintained at regular intervals. This ensures that there is no vehicle damage, which in turn ensures smooth productivity for your organization

Failure to properly maintain your fleet impacts more than cost; it can also affect your team’s downtime and overall safety. 

However, before you get into building your seamless fleet management system, you need to remember that there are a bunch of responsibilities you are required to keep in mind. Our team at Matrack ensures that these safety guidelines are kept in mind to ensure that our vehicles, drivers, and employees are safe at all times.

These responsibilities are classified under three sections

  1. Safety
  2. Efficiency 
  3. Compliance

 A company’s fleet manager needs to keep all these factors in mind while managing the fleet. The good news is that all three factors are interconnected, and compromising on one means compromising on the entire operation.

Keeping this in mind, here are some guidelines that a fleet management service needs to keep in mind while establishing your fleet management system.

Build a maintenance checklist

This step appears to be a little premature, but if you want a robust fleet management system, then you need to understand fleet maintenance. Our team at Matrack also has a maintenance checklist to ensure that our vehicles are well looked after. 

Why a maintenance checklist? Well, you need to keep in mind that while each vehicle – even if it’s the same model – is unique, there are some common maintenance features that all vehicles have in common. These include: 

  1. Checking frame and suspension
  2. Checking the condition of the body
  3. Checking the suspension
  4. Checking the mirror to see if there is damage 
  5. Check if all lights are working, as a lot of vehicles are driven at night
  6. Check the integrity of the windshield 
  7. Check if the doors and windows work
  8. Check for oil to see if it needs to be changed
  9. Check for gear oil, brake oil, coolants, anti-freeze, etc (the last is important when you’re driving in winter)
  10. Check for windshield wipers
  11. Check for brake smoothness
  12. Check for oil filter 
  13. Check tire pressure
  14. Check the fuel system 
  15. Check the vehicle for rust
  16. Check for transmission
  17. Check for all belts in the engine, as well as front and back seatbelts 
  18. Check if seats are in place
  19. Check if the car’s internal heating and air-conditioner is in working condition
  20. Check if the horn is working
  21. Check for the exhaust system

Once all these features are checked, then you can build your fleet management checklist. Do note that this is the ideal way to ensure that your planning goes well.

Assess baselines 

Once you finish your checklist, you need to ensure your vehicle data is in a database that is integrated into fleet management software that ensures efficiency [Some of the best fleet management software are listed here]. Before you get your fleet management system in place, you need to check the status of all your vehicles i.e. take them to the garage to get a full diagnosis and conduct a test drive.

In essence, take all the parameters you have built in your fleet checklist and implement them in all the vehicles in your fleet. If they meet all parameters, then these vehicles are fleet management ready. If they fail even one, get that problem rectified at the earliest before you get your vehicles ready.

Once this is done, it is vital that you make all your documentation digital. Once this is done, you can upload them to the fleet management software. These uploaded documents will have all the details of the vehicle, including the servicing done, the work needed (if any), and whether the vehicle needs servicing or replacing.

Read more: Selecting the right fleet vehicle for your fleet

Establish a maintenance schedule

As the name suggests, this is the ‘actual planning’ period or the time where you establish your parameters for your vehicles and your drivers. Building this policy and implementing it helps your team adjust to the processes that are in place.

Matrack keeps the following factors in mind while maintaining its fleet management policy:

  • Safety
  • Rough incidents
  • High speed
  • Incident reporting
  • Efficiency 
  • Idling time
  • Preventive maintenance 
  • Compliance
  • ELD rule violations 

These are Matrack-specific guidelines. However, in addition to these, we also follow the following

  • Pre-trip check: Every vehicle needs to be checked before a trip. While not as comprehensive as a full inspection, the vehicle driver has to check the basics such as horn, lights, oil, tire, and other minor checks
  • Post-trip check: It’s similar to a pre-trip check. Your fleet management system should have this digital document that your driver can access for pre-and post-trip. If there is an issue, it can get immediately highlighted
  • Maintenance Checklist: You are required to have a monthly-, quarterly, half-yearly, and annually. Each of these checklists needs to be thorough and need to be done regularly if your vehicles are used regularly.
  • Maintenance schedule: Setting a schedule helps to ensure you always catch issues before they become bigger problems. Without fleet management software, you have to keep track of this yourself.  

Matrack’s fleet-tracking software and system give companies the visibility they need to track and manage their assets, fleets, and trailers. Matrack enables companies to streamline their operations while reducing costs and increasing profits. If you are interested in Matrack’s services, then you can have a free consultation with an in-house expert.

Some of the features for Matrack include the following

  • Instant email\text alert
  • A geofence alert in real-time
  • You have the ability to manage the geofence radius with a click
  • You can allocate each vehicle with different geofences

To know more about geofencing and its benefits, click here.

The new dashboard has been made easier to use, as well as adaptable to iOS and Android, and has several unique features that make it stand out as a fleet management system

Most importantly, you get a safety report that covers the number of miles driven, miles driven (in case you cross 80 miles per hour), hard break activity, and time spent driving late at night.

Transform Your Fleet Management Operations With IoT

Internet of Things, more commonly known as IoT, has accelerated the opportunities of business evolution and development in almost every modern-world industry. And Fleet management industry is one those businesses that stand to gain the most with this innovative technology. IoT offers innumerable prospects of boundless improvements that allow for maximum achievement of operational success, along with utmost customer satisfaction. In today’s world of cut-throat competition in every business sector, internet of things definitely gives the much required extra-edge.

One of the most basic use of IoT is collection and transmission of data through internet-connected devices. These devices can be monitored and controlled remotely, thereby presenting a host of chances and methods in enhancing business functions. The data collected by IoT comes from various kinds of sensors that are installed in the vehicle. The data comes from various sensors that can be installed in any given vehicle; and these sensors – RFID, GPS, And OBD II – usually are integrated with each other to generate information important and relevant to proper management of the fleet. The data collected from these sensors are:

  • Engine’s RPM, coolant temperature, fuel levels, tire pressure and washer fluid level.
  • Fuel level in the vehicle, rate of consumption and how often refuelling occurs.
  • Location data from the GPS device, which also includes information about vehicle’s speed, acceleration, braking, etc.
  • Driving behaviour like driving beyond recommended speed limits, harsh braking and turning, and more.

Other information regarding any extra devices like refrigeration unit and integrated devices like NFC keys are also collected through these sensors.

Importance of IoT to Fleet Management

Fleet management is a job beyond mere logistics; it requires the managers and owners to achieve maximum profitability and business goals with the available resources, a limited budget, and a stricter compliance of work safety and environmental guidelines. This calls for a perfect balance between several fleet operations, including but not limited to, fuel consumption, driver performance, vehicle maintenance, as well as route management. And IoT is that brilliant technology which allows fleet operators and owner to manage their business by connecting the applications for delivering services and data, and also make their operations cost-effective and environment-friendly.

IoT based fleet management system works in several integrated steps. The location data is collected on GPS, OBD II, or any other vehicle sensor, and as the vehicle moves, all the data thus collected is sent to a gateway over mobile network, at regular intervals. The information from the gateway server is then sent to the network server, where all the information is accordingly segregated and then sent to a secure cloud-based server. Once all the data is stored in the cloud, the application generates important reports related to the movement and safety of the vehicle, which is then sent to related parties including the driver, manager as well as the operator.

How IoT transforms and improves fleet management:

  • Eco-friendly and greener operations: According to a research, it was found that over 10 million tons of carbon dioxide is released into the environment by idling vehicles only! This is usually because of driving over the regulated speed limit. Adapting to better driving behaviour can drastically bring down fuel usage, thereby also reducing emission. IoT helps in recognizing the flaws in the operation, like unnecessary speeding, excessive idle time, harsh driving that can lead to increased fuel consumption as well as significant wear and tear, and sends immediate alerts to the fleet operators. This allows the fleet operators to take fast and early steps in avoiding fuel wastage, and making their business greener.
  • Preventive Measure: IoT collects data through the sensors that are installed in the vehicles, and can send automated early warning notifications and alerts when the engine or any other parts of the vehicle is in need of maintenance.  It also sends out alerts for low battery, coolant temperature or engine maintenance that can help fleet operators to provide for the same before any major damage or irrecoverable accident can take place. Such preventive measures allow the vehicles to perform without any glitch, and increase their longevity.
  • Better visibility and Insights: Because of the myriad of data collected by the sensors, fleet operators and owners have better accessibility and visibility to every part of the fleet, as well as a complete insight of its overall performance. This helps them in analysing and taking proper action to ensure adherence to rules of driving, fuel consumption, HoS logs, working hours, FMCSA and DoT regulations, inspections and more. The system also allows for route optimisation, location tracking, accident alerts, or any other emergency, which helps in taking prompt action and reduce delays and damages.
  • Automated records and actions: The best part about IoT is that it fully automates most of the fleet operations. From collecting data, generating reports, alerts and notification, IFTA calculation, maintenance, transfer of data, security, and more is handled by the system, thereby diminishing the manual workload that operators were required to do by a lot. This also allows for data recorded and reports thus generated to be authentic, and error-free. Because of minimal human interference, discrepancies related to fuel and other expenses, taxation, and work hours are eliminated.
  • Cost-effectiveness: IoT helps the fleets to use their available resources to their best ability and reduces wastage through better routes, preventive maintenance, and driver training and fuel efficiency. This automatically reflects positively on profitability of the business, indicating cost-effectiveness of operations through IoT integrated fleet management.

Benefits of IoT to Fleet companies:

  • Optimized maintenance and logistics help in running more efficient operations.
  • Environmental and safety regulations compliance
  • Optimized routes and vehicle maintenance help in improving fuel efficiency
  • Better safety of driver and vehicle through constant performance monitoring.
  • Preventive maintenance helps in maintaining vehicle health and increases valuation of the vehicle.
  • Improved time and cost effectiveness through streamlined operations, improved scheduling, and invoicing accuracy, better time management and reduced paperwork, and reduced labour costs
  • Reports and efficient vehicle tracking help in increasing overall business visibility
  • Increased customer satisfaction through on-time deliveries and higher quality of service
  • Elimination of discrepancies and fraudulent activities, and ensuring authentic data recording and reports generation.

What you need for IoT integrated Fleet Management System?

In order to have IoT based FMS, fleet operators and owners need to ensure the following:

  • Have wireless technology and sensors installed in their vehicles
  • Choose a FMS service provider that can offer compatible and scalable solutions
  • Have reliable and strong connectivity to 2G, 3G, 4G/LTE cellular network
  • Train your staff, implement the right protocols, and ensure adherence to the same.

Matrack IoT and FMS for fleets

The time of IoT is the present – it’s already here, and fleet companies who can rapidly evolve and adapt to this new technology will definitely be the front-runners in the industry and enjoy unprecedented benefits from it. Matrack Inc. has been offering the best of fleet management solutions and related services for several years, and understands the needs of our fleet industry partners. We are dedicated to providing our clients with the best of the latest technologies at affordable rates without compromising on the quality. Our products and services bring together intelligent solutions with strong and sturdy devices, making us your reliable partners. Our solutions are also designed to be seamless, can be easily integrated as well as user-friendly.

We at Matrack place a lot of value to our customers, and thus our customer support team are open 24/7, 365 days a year to offer you the best solution you need.

For more information of IoT and FMS, feel free to contact us. We will be happy to welcome to our ever-growing and efficacious Matrack family!

How To Avoid Driver Privacy Concerns With Vehicle Tracking Software

A fleet management software or vehicle tracking software often ends up without being installed because of the rising complaints against privacy from drivers/ employees. And when as a fleet management company, you cannot track the driver’s behavior, it can entirely create a considerable challenge for the company’s future strategies and plans. But uninstalling the vehicle tracking software is not the end solution. You can talk with your employee/ driver and convince them they need driver tracking software, without affecting the privacy. And how is this possible? Well, keep reading further to know-how. 

What are the driver’s privacy concerns with vehicle tracking software?

Privacy is everyone’s right; Nobody likes their moments being tracked or known by a third party. The same is the case with a vehicle tracking software. Many fleet companies give their vehicle (truck/ van) to the employee. The problem comes here, where the employee uses the vehicle for his purposes like shopping, for lunch or tea time, etc. These data are being recorded in the fleet management tracking software. This also applies when the driver has the same company vehicle that he uses for a personal purpose outside the company time. And the privacy concerns hit severely when it’s a large trucking enterprise with a large number of people having access to employee’s data. 

How to make your drivers feel safe and convince the need for tracking software?

Even though the initial phase of convincing the drivers about vehicle tracking software is uneasy, but having open communication with the drivers’ team and letting them address their problems can create a two-way solution for both parties. Following simple steps can help the fleet managers to address the privacy concerns of a fleet tracking software: 

1. Prepare a plan 

For every action to implement, there should be a master plan that explains exactly what you want to accomplish. Make sure you create a program designed to tell what you want to achieve from fleet tracking. Before you finalize your plan, consider checking your state’s privacy laws, which can vary from state to state. Know your goals and stick to your plan accordingly. 

2. Transparency is the key 

If you are looking to implement a strategy, make sure the plan is transparent enough to make the employees feel more comfortable and easier. Also, letting the drivers know about every effect of a vehicle tracking software with results, helps them see the significance of the tracking software. Make them convince about:

  • The need for protecting the fleet
  • Protecting employees by reducing the number of accidents caused by driver fatigue 
  • Help identify the situation of drivers during an emergency crisis
  • Helping the company meet its regulatory obligations
  • Delivering better service to the customer. 

The prime focus of this conversation with the employee must be to emphasize on the driver’s safety and protection and not to track his time. Explain the company’s position on driver privacy issues and how it adheres to an employee’s privacy laws – both in practice and spirit. 

3. Develop policies 

Once you have a solid plan in hand, then it is time to put them in words. Create a new policy and guidelines that are approved by the management system. You can also document all the privacy concerns issues while formulating the plan. Create a strategy with procedures document that cover guidelines on how drivers are to treat the software and the data it generates. This includes:

  • Password security procedures
  • Access control policy to limit who can access the employee behavior data
  • Policies regarding time and day of the week that will be tracked
  • Speed policy tracking
  • Driver safety policies including driving style, use of mobile phones while driving, drinking and driving, adhering to traffic and road rules, and other substance policies. 

4. Effective Communication

No matter what type of business you are handling, it is imperative to have effective communication between the management and the workforce. Effective communication breaks down the gap between the two parties and helps in a fruitful understanding and implementation of organizational policies. Have open communication with your drivers and let them know the benefits of implementing a vehicle tracking software. Though this requires additional time and patience, and open communication can help the drivers get a clear picture of the tracking software. Let them know how important it is to protect the assets during the crisis. Describe the effectiveness of fleet management software from the driver’s perspective – regarding driver safety and security during a pandemic and any other emergency crisis. This will actively help them adapt to the implementation of GPS tracking software in the organization. 

5. Implement training 

Vehicle tracking software is more than a tool. It’s a valuable resource that helps ease the tracking job, cut costs, and improve productivity. Effective training will help the drivers become more familiar with the vehicle tracking software. They will know the basics and its functionalities. Once they are shown the software’s working and advanced services, they will cooperate with the tracking software. Make sure you deliver your promises regarding privacy. If you keep your word and commitments, you can expect full co-operation from the driver’s side. Providing proper training to the drivers will ensure that they deliver optimum results to make the most of the management system. 

6. Tracking the right things

That said, many organizations still fail to keep their promises. Instead of monitoring the fleet condition and wastage, they track the driver’s day-to-day activities. This creates a negative block between the employees and employer, resulting in disagreement in the deployment of the software and suspension of services by drivers. Trust your drivers. You need to understand that without the help of drivers, you cannot ship your fleet and conduct your business. Mutual trust and respect are crucial to carrying out fleet management easily. Making your driver feel safe and comfortable can help the employer easily install the tracking software. This also improves the general productivity and efficiency of the employees. That way, you will not have to face any issues with your employees, and you can get the best out of the fleet management software. 

The truth about fleet tracking software and employee privacy

Today the advancement in vehicle tracking software and updating to employee privacy policies allows the fleet managers to get every little information about their fleets and driver’s activities while they are on duty. With effective fleet management software, you can ensure your drivers and assets’ safety and security

The GPS tracking software not just improves productivity, but also helps the driver with optimized shortcut routes. Additionally, the fleet manager and driver can get real-time updates about the fleet’s actual condition. This enhances the work experience of both the driver and the fleet manager. Providing comfort, effectiveness, and productivity in work is the core value of fleet management software. 

Reasons to choose Matrack

The GPS trackers of Matrack tracking solutions include fleet GPS trackers, asset & trailer GPS trackers, ELD solutions, and asset recovery BHPH gas tracking unit.

  • Matrack vehicle tracking software is DOT compliant. 
  • Whether you need to know where your assets are or where your driver is, the Matrack real-time GPS fleet tracking software enables the fleet managers to get updated and notified with the ongoing progress. 
  • The new and improved fleet GPS tracking software by Matrack efficiently monitors your fleet while streamlining your operations, reducing costs, and increasing revenue. For companies with fleet irrespective of any industry, no matter the size, where your destination is, the Matrack mobile asset tracking software takes control of your fleet management costs and reduces downtime and unauthorized use. 
  • If you are looking for an industry-best asset tracking device that prevents the unauthorized use of intermodal units, then the Matrack trailer tracking GPS device with 5 years of battery life is the best choice. You can set alerts for low battery which notifies you when the battery needs to be changed. With low power consumption, the Matrack trailer tracking device boosts the battery life for up to 5 years. 
  • With the Matrack GPS tracking alert system, you get notified and updated with the geofence, hard braking, hard acceleration, and low battery alerts. If needed, you can also add multiple users and configure the alert settings according to your specific needs. 
  • The Matrack GPS asset and trailer trackers provide driver safety reports to see which driver needs additional training for good driving behavior. 
  • When it comes to mileage and fuel consumption, the Matrack vehicle tracking device. The software provides state mileage and fuel usage reports. You can also get free IFTA reports with zero additional costs. 

These were some of the useful tips that help address the driver’s privacy concerns with vehicle tracking software. More and more use of advanced technology has also increased the number of privacy attacks on people. To eliminate such adverse effects in your organization, invest in a secure and legally compliant fleet management software. And when coming to a reliable and most trusted vehicle tracking software, then the Matrack’s GPS Fleet Tracking Solutions are the best recommended.