Your fleet relies on fuel and you need a management system to track consumption and costs. Here are three ways fuel management software can help you effectively manage your your fleet's fuel cost.
1. Cost Tracking with Fuel Management Software
Whether your mobile assets get 20, 10 or only five miles per gallon, you need a system to manage and monitor fuel consumption and determine costs. That’s because, in terms of operational costs, fuel is the largest ongoing expense for fleets.
If you have dozens or hundreds of assets spread across several locations, trying to manually calculate total fuel costs can be a daunting task.
All of those drivers filling up at the pump multiple times per week (potentially daily even), can hinder a fleet fuel management plan that relies on manual entries.
Spreadsheets with hundreds of rows eagerly await your input, while your mind is focused on troubleshooting other fleet issues.
Not only is this process mundane and prone to error, it’s not conducive to optimal productivity.
With fuel management software, you’ll be able to track fuel usage and automatically calculate fuel costs in real time.
This allows fleet managers to focus on the greater mission at hand and maximize operational efficiencies - while making work life a little bit easier.
2. Integrate Fuel Cards with Fuel Management Software
Although there are countless moving parts (literally), fleet fuel management doesn’t have to be complicated. There is no need for bulky hardware or complex and expensive programs.
Fleet managers have enough to worry about and spending time manually entering fuel entries from ripped and damaged receipts is not ideal.
Using fleet fuel cards and integrating them directly with a fuel management software is the best solution to manage fuel costs.
This allows data to flow seamlessly from the time of the fuel purchase directly to the cloud-based fleet management software, without the need for any data entry or calculations.
With fleet fuel cards, you can limit fraudulent charges while also taking advantage of rewards and other promotional benefits.
3. An Automatic Digital Fuel Economy Calculator
One of the other benefits of using a fuel management software is having a solution to automatically calculate fuel economy.
Instead of having to browse around the internet to find a reliable fuel economy calculator and enter fuel information for each asset, fleet managers can use fuel management software, to automatically calculate fuel economy metrics for each asset.
Since managing costs, forecasting and budgeting are focal points of fleet management, this feature presents the ability to instantly track fuel costs and even create custom reports.
The insights from using the automatic fuel economy calculator will provide fleet managers with the necessary data to analyze and take the best course of action in order to reduce fuel costs.
One aspect this could have a tremendous impact on is budgeting and a vehicle replacement strategy.
If assets start to approach a mileage or years in use that you’ve determined to be a time to replace, you could evaluate the asset’s fuel economy to see if it might be an opportunity to explore electric vehicles or even biodiesel.