The latest report from Global Market Insights revealed that the fleet management market size is set to surpass USD 55 billion by 2026. Advanced location intelligence software and a rise in autonomous vehicles have increased the demand for fleet management technologies.
What is Fleet Management?
Fleet management is an administrative process that enables organizations to organize and coordinate business vehicles. Fleet owners and managers leverage fleet management software to improve operational efficiency, reduce risks and costs, and ensure compliance with government rules and regulations.
What is a Fleet Management Software?
Fleet managers can manage fleet information right from acquisition through to disposal with fleet management software. The software includes a wide range of capabilities that allow companies to track, manage, and streamline fleet operations. It also helps in monitoring fleet performance along with vehicle and driver safety.
The software presents all the fleet-related information in one place, thereby allowing easier access to important information. It helps organizations track expenses, field executives, drivers, compliance tasks, and fuel consumption, among others.
Advantages of Fleet Management
1) Better Fleet Efficiency
It is essential to maximize the productive hours for vehicles on the road to boost fleet efficiency. Fleet management technology offers vital insights related to the vehicle, including its condition, engine health, and other necessary systems. It also monitors vehicles at all times to ensure security and keep a tab on all activities. Fleet owners and managers can measure and assess productivity and implement procedures to optimize fleet and driver performance.
2) Lower Fuel and Maintenance Costs
One of the top challenges of fleet management has been to reduce fuel wastage and control costs. Fuel costs account for nearly 50-60% of the fleet management costs. A fleet management software allows managers to calculate each vehicle’s idle time and track fuel expenses. It offers route optimization by suggesting the best routes after considering different factors like road conditions, weather, traffic patterns, etc., to help reduce fuel consumption.
A good fleet management software monitors and reports fuel wasting behaviors and helps companies make informed decisions. With the help of timely maintenance reports and driver downtime, businesses can improve their fleet efficiency.
Read more – Top fleet management KPIs you should not miss
3) Streamline Fleet Compliance
4) Improve Fleet and Driver Safety
5) Real-time Tracking and Visibility
It is essential to know the exact location of the fleet at all times. Advanced fleet management software offers real-time visibility and updates on vehicles, job completion status, estimated arrival time, and delivery time. This helps to get deeper visibility on fleet performance. Moreover, fleet managers can even get live alerts and notifications on vehicle movement as they pass a certain critical point of interest, boundaries, unauthorized hubs, etc.
6) Improve Customer Experience
Companies can improve their delivery times and reduce wait times for customers using a fleet management system. It helps in offering a more efficient and effective service to your clients, thereby increasing customer loyalty. Fleet managers can help customers to simplify bookings and provide appointment reminders.
They can even track vehicle downtime caused by breakdowns, jumpstarts, tows, and emergency repairs. Insights like total kilometers traveled by the vehicle and engine hours can help create a preventative maintenance schedule.
Top Industries That use Fleet Management
Almost all businesses need a fleet of vehicles. Here are some of the top industries that leverage fleet management solutions for better operational efficiency.
- Transport and logistics management
- Courier and delivery services
- Food delivery
- Retail
- Pharma
- Construction
Final Thoughts
It is essential to have a fleet management solution, irrespective of the organization’s size, to have a seamless way to monitor and manage your vehicles. According to experts, companies that adopt new fleet technology are better positioned to stay ahead of their competitors.
Dista’s fleet management software helps businesses improve their delivery and fulfillment services. Do you want to upgrade your fleet management solution? Contact us to get a free demo.
