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Are you bringing in more money than you’re spending?
That’s the key to running a successful business, of course. You’ve got to make a profit.
One way to increase your profit margin is to increase your income. The other way is to lower your expenses.
How can you lower your expenses? Well, GPS tracking technology will save you a lot of money. Here’s how:
1. Improve Employee Productivity
Employees are often tempted by distractions, but the watchful eye of their boss keeps them working hard (most of the time, anyway).
Bosses can’t see what drivers are doing, though. Maybe they’re working hard, or maybe they’re running personal errands while they’re on the clock.
That’s why businesses need to use a GPS tracker. It allows you to “see” where your drivers are and how fast they’re going. You’ll always know whether a driver is sticking to their route or not.
Also, you don’t even need to look at the tracking data for it to have an effect on your drivers. They’ll automatically be more productive when they know they’re being watched.
2. Use Less Gas
More productive drivers are more fuel-efficient drivers. A GPS tracker will keep your driver focused, so they won’t need to use as much gas to complete their routes.
3. Cut Overtime
Your drivers won’t need to use as much time to complete their routes, either.
Overtime is costly. A GPS tracker will reduce this expense considerably.
4. Reduce The Risk Of Collisions
So, when drivers aren’t being watched, they might grab a snack or hang out with some friends in the middle of their route.
When drivers do that, they need to speed up in order to stay on schedule, and speeding makes it more likely that they’ll get into an accident.
The “Big Brother” effect of GPS tracking will stop your driver from making those personal stops in the first place. They won’t have any reason to speed (and if they do speed, you’ll know about it immediately, so you can tell them to stop).
You have a responsibility to protect your employees. Also, accidents are bad for your bottom line. They put you on the hook for vehicle repairs and medical bills. There’s a big financial incentive to keeping your drivers safe.
5. Lower Insurance Premiums
Every account is a gamble for insurance providers. Premiums are all profit, but when someone files a claim, they take a hit.
Insurance providers are aware of the previous entry on this list. They know that a GPS tracker makes drivers less likely to crash, which means tracked drivers are less likely to file a claim. That’s why they often offer discounts to companies that track their drivers. You might be able to reduce your premium by as much as 35%.
If you want to improve productivity and save money, go ahead and start using a GPS tracker.