Double Your Fleet ROI with GPS Trackers

What is ROI in fleet management?

As is known, ROI stand for “return on investment” or the level of net profit compared to the cost of investment. If a business has ROI high, then the profits exceed the operational costs, so it can provide more profitability. Conversely, if a business has ROI which is low, then the capital spent is more than the profit generated.

The following operational costs can be affected ROI:

• Annual claim: Claim fee that must be paid each previous year.

• Annual repairs: Annual repair costs for vehicles or third parties.

• Fuel wastage: Total estimated costs of wasteful driving behaviour such as revving the engine.

• Insurance premiums: Some insurance companies offer lower premiums if fleet vehicles are equipped with GPS tracking devices.

Why Do You Need to Calculate Your Fleet's ROI?

Calculating your fleet's ROI helps identify and determine the financial benefits of a particular purchase, which can be used to convince stakeholders or for record-keeping. So, if you're considering incorporating electric vehicles into your fleet, take a look at ROI will show whether this sustainable move is feasible and profitable.

Calculating ROI also helps businesses prioritise strategic objectives, identify areas for improvement, and monitor performance over the long term. In short, measuring your fleet's ROI provides both immediate and long-term insights, enabling smarter decision-making now and in the future.

4 Statistics That Prove GPS Tracking Increases Fleet ROI

What is tracking technology? Can GPS tracking technology really help increase profits? Here are the statistical data that prove that GPS tracking can improve ROI fleet business.

1. 64% of fleet managers currently use technology GPS tracking technology in their business. This shows that GPS tracking is a valuable fleet tracking asset that eases the burden on fleet managers.
2. While mid-sized fleets are more likely to adopt GPS tracking technology, there has been a recorded 12% increase for smaller fleets from 2019-2020, demonstrating the increasing benefits of GPS fleet tracking technology and its profit-boosting benefits.
3. In 2021, 45% of 1,200 fleet managers and other business professionals using fleet management solutions reported a positive ROI within 11 months or less - a clear indication of how quickly companies can begin to see a difference in their profits.
4. In 2020, it was reported from businesses that there was a 54% increase in customer service due to the use of GPS tracking technology. Satisfied customers are a key driver of profitability, making this statistic a testament to the importance of fleet tracking technology for business success.

Improve ROI Double Your Car's Fleet Tracking System with Cartrack Indonesia

The more data you have, the more cost-efficient your operations become and the higher your fleet ROI. Cartrack’s SaaS-based telematics software and GPS tracking provide access to a wide range of data based on fleet management industry trends from fleet management.

• MiFleet, cost management software from Cartrack Indonesia, helps track insurance, vehicle permits, taxes, and finance costs, so you know exactly where to start reducing costs. Vehicle maintenance reminders help keep your fleet in good condition to avoid costly repairs and untimely maintenance.
• The fuel monitoring system from the Cartrack is a web-based platform, Cartrack fleet management system works to calculate fuel costs per vehicle, allowing you to compare fuel expenditure with driver reports and reduce bad driver behaviour such as idling – which is a big contributor to extra fuel costs.
• There is a artificial intelligence-based camera solution called LiveVision from Cartrack Indonesia. It is designed to detect driver behaviour and provide voice warnings to drivers automatically in real-time. LiveVision helps fleet managers improve driver safety and reduce avoidable costs.
• Secure operational vehicle assets with a GPS tracker from Cartrack Indonesia. This GPS tracker prevents equipment theft and loss. If you own generators, containers, truck trailers, cement mixers, and other mobile equipment, keep them safe and avoid costly replacements by using Cartrack Indonesia's GPS tracker.
• The Cartrack Indonesia fleet management platform offers advanced features such as route optimisation, which helps ensure drivers use the most efficient routes, and geofencing, which sends alerts when a vehicle enters or exits predefined virtual boundaries. These tools help reduce fuel costs and improve driver accountability, making them an important component in increasing profitability.

Telematics-based solutions from Cartrack Indonesia can help transform your fleet management business into a profit-generating machine. Find out more by clicking this link!