Is Fleet Telematics Worth The Cost?

When it comes to Fleet Telematics there is no such thing as to much information. Traditional approaches to Telematics and GPS Vehicle Tracking often make it difficult to interpret the information you receive.

Fleet Telematics from Fuelwise is an easier way to interpret the information you require and can be translated into measurable insights to measure against Key Performance Indicators. The question you often have to ask is fleet telematics worth the cost? Continue reading to see if it is the right investment for your fleet.

What is Fleet Telematics?

Telematics is technology that combines telecommunications and informatics to gain valuable business insights. Often referred to as GPS Vehicle Tracking, Telematics is a tool used to monitor vehicle locations, operations and performance.

Data is collected through devices and stored online using fleet management software. This enables Fleet and Transport Managers to get the complete picture of every vehicles location history to analyse performance and create action plans to improve performance.

What Can Fleet Telematics Do?

  • Record vehicle journeys over a specific time period
  • Record accurate MPG usage to enhance performance
  • Send alerts for when vehicles enter or leave specific areas
  • Inform of drivers who are idling excessively
  • Review performance of individual drivers
  • Reduce the probability of accidents
  • Reduce fuel consumption and reduce vehicle wear and tear
  • Reduce negative impact on vehicles
  • Decrease the negative effect on business costs
  • Review performance and improve operational efficiency
  • Reduce your fleet carbon footprint and reduce fuel costs
  • Track the number of visits to a location for greater insight
  • Enhance understanding of where assets are utilised
  • Reduce the risk of fuel fraud
  • Identify potential unauthorised trips

6 Ways Fleets Are Benefiting From Telematics

How you use telematics will be dependent on the goals you want to achieve. Some Fleet Managers wish to improve the security of their vehicles whilst others use the performance metrics to help reduce their fuel costs.

Below are six of the most common goals for fleets of every size;

1. Improve Safety: Measuring the safety ROI of telematics can be difficult as many of the benefits are preventative, for example, discouraging drivers from speeding. Using the Driver Performance metrics you can measure cost savings through behaviour changes. This can include;

    • Reduce accidents
    • Reduce fuel spend
    • Reduce speeding events
    • Lower insurance premiums

2. Prevent Fraud: Fleets that combine Fuel Cards and Telematics can take back control and prevent fraud. Using Fuel Card Integration you can monitor transactions and add an extra layer to fraud prevention. A GPS Vehicle Tracker acts as proof that both the driver and vehicle where at the pump, filling up the company vehicle instead of their personal vehicle.

3. Reduce Fuel Spend: Fuel is one of the highest expenses for companies that operate their own vehicles. Telematics can detect excessive fuel usage through the different Driver and Vehicle Performance metrics that are included. Customer case studies have shown that Fuel Card Integration can reduce your annual fleet costs by up to 20% per vehicle. This is achieved through accurate MPG usage which can be used to enhance performance.

4. Decrease Emissions: By reducing the amount of fuel your vehicles use, your vehicles will burn less C02. This helps to reduce your emissions.

5. Improve Route Planning: Telematics can locate vehicles to their exact location in real-time. Using the Trip History feature you can review your vehicle routes to improve efficiency. You can also adjust routes based on weather conditions and traffic levels to enable your drivers to arrive at their destinations on time.

6. Reduce Administration: A combined telematics and fuel card system helps to reduce admin tasks and saves time. By creating automated reports you can spend time on other areas of the business knowing you will receive the information and data you need automatically.

The Cost of Fleet Telematics

There are many factors that determine how much you will pay for Telematics & GPS Vehicle Tracking. For example;

  • The size of your fleet
  • The features you require

There are also different costs to consider;

  • Hardware: telematics devices come in both plug-and-play and hardwired formats
  • Installation: devices for fleets can come requiring professional installation or self-install
  • Monthly Subscription: similar to your mobile phone, there is a monthly charge to cover data

How To Get Started With Fleet Telematics?

Telematics can be installed in a wide range of vehicles, including;

  • Cars
  • Vans
  • HGVs

For machinery and plant equipment you can use Asset Trackers which are used to prevent the theft of equipment and reduce the time to recover assets.

Telematics From Fuelwise

Telematics from Fuelwise is the perfect GPS Vehicle Tracker for business vehicles of all shapes and sizes. With powerful insight and data into a range of fleet metrics from driver behaviour to vehicle performance, it provides a platform to help you enhance your business, increase security, improve productivity and reduce your fleet costs.

The included features are;

  • Live Map
  • Journey History
  • Fuel Card Integration
  • Tracking Link
  • Geofences
  • Alerts
  • Driver Performance
  • Vehicle Performance
  • Groups

Our Fleet Telematics solutions can be scaled and tailored to match your business goals and requirements. Complete the form below to arrange a 30 minute demo with a member of our team.

    Name

    Phone Number

    Email

    Company

    Why our customers choose Fuelwise
    VES Transport

    VES Transport

    “I have been using Fuelwise fuel cards for many years and both the product and level of service is exceptional. To manage my business daily I use Velocity to monitor fuel spend and transactions and e-Route helps my drivers find any of the thousands of sites available with the Fuelwise fuel card. My Account Manager is always on hand to help and goes the extra mile to ensure everything is running smoothly”.

    MDE Installations

    MDE Installations

    “Fuelwise is very customer focused and were able to provide what I needed for this project where others couldn’t. The e- Route app helps our engineers find Core sites instead of Non-Core sites which helps with efficiencies and cost savings. Velocity is well managed, and I can create plenty of reports and my Account Manager is always on hand to help. With GPS Tracking built into Velocity I can view distance travelled, speed etc. and driver contact details without having to open another system.”

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