The largest expense for any fleet is fuel. It can occasionally exceed even the cost of purchasing a vehicle, depending on the nature of the business. The largest fleet function is the movement of money away from fleet management. Fleet management software that includes fuel management systems is used to control the cash and energy flow that fleets need to operate.
For just fuel-based commercial vehicles, India alone consumes 88.2 billion gallons of diesel and 37.2 billion litres of petroleum annually.
Let’s examine what fuel tracking in fleet management systems is in this blog. We’ll also observe how it helps the overall performance of the fleet and the bottom line of the company.
What is Fuel Monitoring System in GPS Tracking System?
It might surprise you to learn that the majority of companies spend roughly 24% of their fleet budget on fuel. These enormous figures are ultimately the result of numerous factors. Some of them consist of:
- Fuel used to power moving objects
- Fuel thievery
- Unsafe driving
- Varying fuel prices
Yes, the majority of these behaviours are unavoidable. Rash driving and other issues cannot be totally avoided. Managers can cut consumption, though, by using fleet management systems with fuel management.
Fleet management software uses fuel tracking systems to gather information on how fuel is fueled and used in your cars. It gathers precise information that enables managers to calculate the operating costs of cars. Fuel monitoring appears to only assist in lowering fuel use. From a broader perspective, it has a favourable impact on the budget for the entire fleet.
How Does Fuel Management System Work?
Fleet managers used to get predicted fuel data on paper until technology made everything easier. Calculating when the gasoline tank was filled and how fuel was expended or utilised from cars made up the majority of this data.
With the development of technology, excel sheets have taken the role of papers and made data analysis much simpler. However, the majority of the data was still manually obtained and estimated.
The combination of hardware and software that made fuel monitoring interesting only arrived with the advent of fleet management software. Managers can now instal software-integrated fuel level sensors in each of their vehicles’ tanks.
The programme can determine when and how much fuel was added to a gas tank thanks to fuel sensors. The same is true for its ability to determine when and how much fuel was drawn from the tank.
In fact, real-time tracking capabilities in fuel tracking software allow for the precise determination of fuel consumption. Additionally, this aids with route planning and driving behaviour analysis.
What Are Some Features to Look For in GPS Fuel Monitoring Systems?
At one time, fuel monitoring was a fancy feature that received little attention. However, fleet management software packages now come standard with fuel monitoring. What exactly do these systems offer, then? Let’s examine the main components of fuel monitoring.
- Real-time tracking: With today’s fleet management software and fuel monitoring systems, managers can not only see the fuel being used in real time, but also gain a wealth of information about how the fleet is operating. Managers can have a better understanding of how the fleet is operating overall by using such information.
- Fuel Alerts: Managers will receive immediate alerts whenever the fuel tank is filled or fuel is expelled from it. Managers will also receive a prompt alarm if the tank is unexpectedly empty.
- Productivity Reports: Comprehensive productivity reports are possible thanks to the comprehensive data gathered through hardware and software integration. Most of these reports are set up to be simple to comprehend and include every area of fuel use, depending on the strength of the software.
- Use for Various Purposes: It is significant to notice the versatility of fuel monitoring. Its advantages extend beyond only lowering fuel usage to include fleet budgeting, route planning, study of driver behaviour, and vehicle maintenance.
What Are The Advantages of Fuel Management Systems?
The effectiveness of managers’ decisions to control fuel prices and consumption can make or break their operations. Utilizing the available technical assistance is the prudent course of action in the modern world. So let’s discuss the versatile benefits of gasoline monitoring devices in this area.
Better Fuel Budgeting
According to surveys, 55% of fleets that used fuel tracking technologies reported lower fuel usage expenditures. This is mostly because managers may decrease waste by having a better understanding of how resources are being used in their fleet.
Precise Data Accuracy
Errors are greatly reduced with the combination of hardware and software. Managers may be confident that the data they receive is correct because the fuel monitoring feature’s primary goal is to collect real-time data. There is no room for misinterpretation or error in judgement, after all. Higher insights can result in improved functions thanks to increased accuracy.
Reduce Petty Theft
For all fleet managers, fuel theft will always be a problem. However, gasoline theft may be significantly reduced with the use of fuel tracking systems. How? Because if there is a suspicious fuel reduction from the tank, management will receive immediate alerts. As a result, they are able to act immediately.
Higher Bottom Line
Anything that lowers operating expenses can increase productivity for a fleet-run business. And fuel management achieves exactly that. Managers can come up with strategies to reduce resource consumption and boost firm profitability if they have a clear understanding of how much they are using.
Unmatched Route Planning
In addition to managing driver behaviour, real-time fuel monitoring systems aid in route planning. How? Because the live data collection makes the fuel consumption of each route obvious. After all, some routes do actually end up using more fuel than others, whether it’s due to the topography or the road conditions, thus they should be avoided to conserve resources!
Better Driver Behaviour
Fuel monitoring companies work hand in hand with driver supervision. Drivers will use more fuel if they use aggressive acceleration, braking, cornering, idling, or oversleeping, after all. Managers can separate good drivers from bad ones with the aid of effective fuel management reports.
Easy Operational Cost Calculation
Managers are required to make thoughtful decisions when they are aware of the amount of fuel being put into their vehicles. Why? Because software gives them access to information about their fuel budget. Instead of relying on assumptions and false information, they will now make informed financial decisions.
Sustainable and Eco-Friendly Operations
Fuel monitoring systems’ main goal is to lower fuel use. What occurs when fleets use less gasoline, then? They keep their carbon impact low, which enables them to run their business a little more sustainably.
Fuel monitoring systems are accountable for information presentation in addition to data collecting. These reports typically provide a detailed picture of how the fleet is operating in its entirety. With the use of this data, managers can stitch the entire fleet management process together while also making their operations more resource- and budget-friendly.
Since all fuel monitoring systems do is gather data and deliver it in brief reports, they may appear insignificant. However, when we examine the system’s uses, we can see how crucial it is to the fleet’s overall operation.
Fleet management systems that include fuel management enable managers to successfully cut fraud and operating expenses. Additionally, they can improve their systems for route and workforce optimization. What are you still holding out for? Use TrackoBit to boost your company’s earnings right now!