Freight Factoring Is Key to Digital Organization
The new year brings resolutions for millions across the nation, and while many of us are focusing on our personal resolutions, companies are focusing on their corporate ones. Hope for a more productive and prosperous year is even leading the trucking industry to adopt many of the same strategies that we would in our personal lives: getting healthier, saving, and making more money.
The trucking industry is translating the concepts to business health and looking to organizing strategies to help. Organization can be applied to most categories of business but in the trucking industry the focus is on supply chain, communications, and finances. Digital organization is critical in all of these categories, which is why companies are turning to fleet management software for organization, and freight factoring to help with costs.
The benefits of recourse or non-recourse factoring take many forms but as companies invest for the future, they are realizing that taking advantage of the funding provided by freight factoring is a much smarter strategy than taking out a loan. And, while the initial cost of fleet management software and its implementation might seem daunting, freight factoring can ease the sticker shock by providing the funding that fleets already have coming in without the huge interest rates a bank loan would require.
Advantages of Fleet Management Software
1. BETTER TIME MANAGEMENT
Fleet management improves productivity by saving time not only for drivers and mechanics, but also for administrators and managers. GPS tracking makes it possible to plan routes efficiently, to receive traffic updates, and to predict the time of departure and arrival. In fleet management, GPS trackers enhance time management and help both dispatchers and drivers to optimize their working schedule. Mechanics can easily access the repair history as well. At the same time, all the data related to fuel, maintenance, and transport is monitored and available to fleet managers and drivers alike.
2. BETTER FUEL MANAGEMENT
One of the greatest advantages of fleet management is the possibility of reducing costs through various functionalities. The fuel information, together with efficient route planning, helps optimize fuel consumption and eliminate the cost of excessive idle time. Tracking systems will also be useful for identifying and planning refueling locations. Dispatchers can see in real time where each vehicle or asset is located so as to plan the most convenient route. Another advantage of fleet management is traffic information, which helps drivers save fuel by avoiding traffic jams.
3. BETTER CUSTOMER SERVICE
Integrated tracking systems give customers real-time information about the location of their assets. Furthermore, efficient time planning delivers their cargo safely and on time. Such consistency and continuity in communications is critical in maintaining strong customer relations. All of these benefits will lead to improving overall customer satisfaction, which could lead to a long-term relationship, which means long-term revenue.
4. GREATER EMPLOYEE SATISFACTION
Integrating fleet management systems requires dedication from both the employer and the employee. An efficient information flow is important for the successful implementation of the system. This means that the features of the fleet management system should be well communicated to the employees. They will see that the efficiencies created are just as beneficial to them as they are to the company overall. Implementing a vehicle tracking system can also optimize the drivers’ workload while improving safety.
5. REDUCED INSURANCE COSTS
Fleet management software that includes theft prevention options will help to decrease insurance costs for obvious reasons. Some fleet software options will also lead to improved road safety and reduce accident rates, which will further reduce the cost of insurance.
6. SAVINGS ON MAINTENANCE COSTS
Optimizing vehicle usage makes it possible to cut costs associated with vehicle maintenance. Some fleet management systems allow maintenance notifications based on calendar time, mileage, or whatever chosen criteria are most important to efficiencies within the company or fleet.
Freight Factoring Makes Organization Possible
What this all suggests is that by integrating fleet management software, companies are able to optimize all aspects of the business, from fuel and time management to customer service and supply chain sustainability. Increases in efficiencies and productivity as a result of fleet management software make it the obvious answer for bolstering organization and capacity for fleets with five trucks or fifty.
Digital fleet management is not only aiding in the progress of the company, it is actually becoming critical in keeping up with the supply chain and the industry overall. Companies like Fleet One Factoring have made it their business to help make this year’s resolutions successful by providing freight factoring solutions with tools, software, and strategies for the future.