Hidden costs can impact your budget before you even realize what is happening. Take fuel for example. You are likely spending as much as 60 percent of your fleet’s operating budget just to fuel your vehicles.
Whoa! Are you really spending that much? To know for sure, you need to use real-time data and analytics to see where and how your fuel costs are adding up. On top of tracking miles per gallon and cost per gallon through specific reporting, modern fleet management systems can help fleets spot bad behaviors by your drivers that you can address and change.
Once you have the data, you can safeguard your fuel budget by implementing and enforcing a formal policy on employee fuel usage. When you define how drivers are to control and monitor their behavior to conserve fuel use and spending, you help your company avoid hidden fuel costs.
A sound policy should include:
- Rules for using a fuel card;
- The fuel grade to be used for each vehicle in your fleet;
- Preferred fuel providers;
- What to do if the driver loses a fuel card;
- Details on driving behaviors that conserve fuel, such as observing the speed limit and avoiding aggressive driving maneuvers.
Proactive efforts to lower your fuel expenses can lower your total cost of ownership. To read how a large vocational fleet reduced its fuel consumption and documented over $1 million in savings in 18 months, click here.