Address 4 Fleet Vehicle Loss Risks with Cartrack

Risk management is crucial in fleet operations. In addition to ensuring the safety of employees and vehicle assets, risk management practices are also effective in reducing excess expenses. What risks do fleet companies commonly face, and how can they manage them? Read on for an explanation.

 

1. Fuel Theft

There are several categories of fuel theft, including siphoning and fraud in transactions. To prevent this from happening, monitoring of the fuel tank and vehicle location is required. A GPS tracker with fuel monitoring is the right solution for you. Through the Fuel Refuelling Report, you can identify the refuelling time, the actual fuel tank volume before and after refuelling, as well as the petrol station location. Furthermore, the software Mi-Fleet from Cartrack can help you automatically verify fuel purchase receipts. To detect suspicious fuel consumption, which may indicate fuel theft, you can use the Fuel Graph Report.

 

2. Theft and Vehicle Misuse

This risk will be significantly higher if there is no monitoring system that provides you with full visibility of your fleet vehicles’ activities and locations. A GPS tracker with features such as geofencing, a magnetic driver identification key, and a remote immobiliser can provide the solution. With geofence, you are notified in real time when a vehicle enters or exits a designated area. To prevent unauthorised use, use a magnetic driver identification key, where the driver will not be able to start the engine before tapping the magnetic key. Finally, use a remote immobiliser if you detect suspicious activity that could indicate vehicle theft.

 

 

3. Accident Losses

Vehicle accidents reduce fleet productivity, as vehicles and drivers are unable to operate for a period of time. Companies also incur additional costs for vehicle repairs and medical treatment for accident victims. To reduce this risk, fleet managers require a GPS tracker with a driving behaviour monitoring feature. The GPS tracker device will send notifications when it detects poor driving behaviour. Some of the parameters monitored include speeding, harsh braking, sharp cornering, and aggressive acceleration. Fleet management software can also provide driver scoring based on driving behaviour, which can be viewed through the Driver Score Report.

 

4. Downtime and Vehicle Damage

In addition to accidents, vehicle operational disruption (downtime) is also caused by ineffective maintenance methods. Preventive maintenance is essential to prevent unexpected issues and damage. In addition to monitoring, fleet management software also includes a routine vehicle maintenance scheduling manager feature. You can set maintenance schedules not only based on date, but also on mileage and the operational period of each vehicle. Notifications can be set to trigger a few days in advance to give you time to prepare vehicles amid busy operations.

 

Cartrack has all the solutions to minimise the four risks mentioned above. Simply install the Cartrack GPS Tracker, then monitor and manage your fleet vehicles via Fleet Web and the Cartrack mobile app. Contact us now and get a FREE LIVE DEMO to see how Cartrack can help with managing the risks of your fleet vehicle operations!