Businesses with a mobile workforce can help alleviate financial pressures by rethinking fleet management practices, according to Quartix.
As new research shows that businesses are struggling due to spiralling costs, the specialist in GPS fleet tracking says tracking technology is a valuable tool for any company with a fleet of vehicles, enabling them to respond with the necessary adjustments to increase productivity, improve safety and save fuel.
Insolvency firm Begbies Traynor has revealed that in the first three months of 2022, there was a 19% rise in businesses in critical financial distress compared to the start of 2021.
It’s the result of two years of extraordinary financial pressures and comes as companies struggle with both rising inflation, coupled with the demands of repaying government Covid support loans.
Richard Lilwall, CEO of Quartix, commented: “The cost-of-living crisis has presented some very serious challenges. Some are seeing their profit levels eroded while others are having to make significant changes to their business to break even. The cost of materials going up, fuel price rises, and the current labour shortage are all factors that create a challenging environment for businesses today.
“As a result, many business owners are having to examine every cost element of their businesses to see if practices can be rationalised.
“There are some changes firms operating a mobile workforce can make to help balance their profit levels and deliver positive business outcomes.
“By tweaking the way fleets are managed and maintained, businesses can reduce fuel costs and create money-saving efficiencies. Businesses can also reduce their emission levels by training drivers to drive in a more fuel-efficient way.”
This includes turning to tracking solutions; a study by Frost & Sullivan estimates that vehicle tracking can drive down a business’ fuel use by as much as 25%, while reduced usage also means less vehicle wear and tear.
At the same time, vehicle tracking can optimise driver time and ensure complete fleet visibility through in-depth monitoring and reporting, enabling operators to plan more effectively.
“Tools that generate simple-to-use and easily accessible reports are easy for businesses to implement and could help identify the best drivers, make sense of mileage and fuel costs and reduce the time spent on regulatory admin,” added Richard Lilwall.
