Boosting cost management with fleet software

Fleet software has a range of benefits, enabling you to streamline your operation and maximise the efficiency of your vehicles.

However, one of the biggest draws for companies looking to upgrade to fleet management software is cost reduction.

Here are just some of the ways your business can improve its bottom line by implementing software for fleet management.

Comprehensive reporting

The first step to reducing costs is to recognise there is a problem.

With detailed reporting functions on fuel consumption, exceptions and vehicle expenses, fleet software can help you to identify where money is being spent needlessly.

Full vehicle utilisation

Not using your fleet to its maximum efficiency can be a significant cost management hurdle.

With too many vehicles you may be wasting resources; own too few and you may be missing out on opportunities to bump your revenues.

The right software enables you to use a pool vehicle booking system that will tell you where there are inefficiencies in your fleet utilisation.

FBT optimisation

High-end fleet management software can provide modules for FBT that compare the operating cost method and the statutory formula for each vehicle in your fleet.

From here, you can make adjustments so that you pay the least amount of tax possible. This is supported by reports that show where savings can be made and warn of instances in which vehicles are in danger of incurring a higher tax charge.

Whole-of-life costs

A whole-of-life cost module can calculate the dollars-per-month and cents-per-kilometre value of each individual car in your fleet.

This will take into account numerous factors, including fuel usage, vehicle price, ongoing registration costs, servicing and maintenance, cost of capital and more.

This information will give you greater visibility of the efficiency of your cars, allowing you to make changes to enhance your fleet quality.