5 finance, maintenance tips for managing your company fleet

| February 20, 2020

Regardless of whether you aim for your business to become the new FedEx or you want to attract large clients whose goods you would transport exclusively, your fleet should be your primary concern. Those vehicles are the basis of your business and you cannot afford to treat them carelessly, not only because you have a contract to carry out but because the safety of your drivers is directly linked with the effort and resources you focus on those vehicles. With that in mind, here are 5 tips on how to manage your fleet in terms of finances and maintenance.

Schedule regular fleet inspections

The saying ‘prevention is better than cure’ can be applied to many areas other than health. For some business owners, regular maintenance and inspections sound like a nightmare because it may seem that they are wasting their budget. However, once some malfunction happens, everyone regrets not noticing the problem on time.

So, instead of spending a fortune on fixing something which could have been prevented or purchasing a new vehicle due to years of negligence, you should schedule regular inspections. Activities such as oil changes or engine cleaning might sound trivial but they help keep your vehicle in tip-top shape. So, make sure you include fleet inspections in your budget plan to prevent, as much as you can, unpleasant surprises and so you can have peace of mind.

Communicate with your drivers

When you think about it, people who know your vehicles best are those who use them daily – your drivers. You shouldn’t disregard their opinions but instead, take their feedback into serious consideration. Ask them to pay attention to things like oil and tyre pressure while they are on the road and not only will they give the more accurate data but you will also strengthen the employer-employee relationship you have.

Besides that, to deepen this bond, you can also offer your drivers additional training. They can be educated on the mechanical aspect of the vehicles they drive and that knowledge will benefit both parties. They will find it easier to understand why the vehicle is behaving in a certain manner, and you will have able and informed drivers on your team.

Tend to the tyres

Out of all the vehicle elements that people take for granted, tyres are among the top 5. They carry the weight of your fleet, quite literally which is why things such as tyre pressure are of great importance. Of course, many different factors influence the wear and tear of the tyre such as weather, road surface, and the individual’s driving behaviour but what’s important is to regularly change them in all vehicles.

For each vehicle to have reliable tyres, you need to purchase them from a reliable source. Many business owners make a big mistake by trying to cut expenses by obtaining cheaper tyres and that always ends up badly. Besides, with so many payment options, such as purchasing your tyres with zip money and then setting the repayment schedule to suit your lifestyle, there is no need to fret over finances.

Consider fleet management software

It may seem like an unnecessary investment but most management software solutions are worth everything you invest in them. They can help you monitor the situation in real-time and make smarter choices, such as ensuring that the vehicles which are the closest to a particular location are always sent. This saves you fuel and it is much fairer on the drivers.

These types of apps can help the drivers directly because they can get notified if they should change their driving behaviour to save fuel or protect the vehicle from preventable damage. They can expose an unprofessional behaviour of drivers to the business owners, such as, for example if they are breaking speed limits or making sudden breaks for no good reason. Fleet management software can show the owners a lot about the state their vehicles are in but also about how their drivers behave while on the road.

Make sure the vehicles are clean

Many would find this piece of advice somewhat unusual but keeping your vehicles clean, especially their exterior can be quite an important strategy. One of the most obvious reasons is the reputation of your business since it is not a good sign if people are having a hard time reading the logo from your vehicles due to dirt.

In addition to that, mud stains and dirt can cover up traces of rust and deterioration. You will not be able to react on time and substitute a part or stop rust from spreading if you are not even aware of its existence. By taking such precautions you will prolong the working life of your vehicles.

By taking steps to ensure your fleet is managed and maintained properly, you stand to gain a lot from the financial point. Simply put, if you wish your business to grow, you need to take care of and invest in your fleet as much as you can.