Extend the life of your assets and reduce operating costs with the help from data
Do you know what corporate cars actually cost annually? With the help of telematics and the use of data, you can work smarter and thus increase/extend the life of your company's assets. It pays off!
Cost savings with a smarter fleet
ABAX works daily to find new ways to reference data from customers' vehicles and assets. This helps fleet managers make operations more cost-effective and everyday life a little easier. More companies have great potential for improvement when it comes to leveraging the data they generate daily.
Here ABAX sees three important areas that remain in most areas.
1. Lowering speed will lower costs
Heavy acceleration and hard braking increase vehicle wear and tear, thereby significantly increasing maintenance costs.
Poor driving behaviour can increase the average maintenance cost of the fleet by 13%, while good driving behaviour can reduce it by 12%. *
This clearly shows poor driving is costly in itself. On top of this comes the loss of billable hours by not having vehicles available. By giving drivers and vehicle owners a better relationship with how driver behaviour affects the vehicle, one will be able to reduce the number of hours, or days, a vehicle is out of service. This provides a greater degree of predictability for companies and easier management of projects where one relies on available vehicles. Not least, better behaviour on the road leads to the increased life expectancy of a vehicle, an argument that in itself makes it attractive to fleet owners.
2. Avoid fuel drains
Fuel is the highest expense for fleet owners, especially for fossil fuel cars. It is difficult for a Norwegian medium-sized driver to influence fuel prices, but they can change the driving behaviour among drivers. This can reduce fuel consumption, for some, it can be a matter of significant sums.
One of the big challenges is idling vehicles, in Norway we're actually at the top of Europe when it comes to letting the vehicle "stand and go." Idling alone is literally a fuel drain that can be easily avoided. With the help of telematics, you can easily identify the vehicles that are most at idle in order to help overcome it.
3. Searching for tools costs
Data can also help companies with an expense item that has grown significantly in recent years– loss of tools. The average tradesperson searches at least 15 minutes for tools daily, according to customer surveys conducted by ABAX. If a company has 10 employees, this amounts to 2.5 hours of exploration daily. These short 15 minutes of drill and saw searches total 575 hours annually.
Read more about ABAX tool tracking
On top of this comes brooms associated with theft. Insurers in Norway report 145 million lost value on Norwegian construction sites in 2021**, and in addition, there are large dark figures of less valuable units that are never reported missing.
With tracking chips on tools and other smaller assets, you can easily cut down on search time and get a quick tool inventory if you are bringing everything you need out on assignment, and not least if it is in the car at the end of the job.
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Sources:
*https://www.lightfoot.co.uk/news/2017/11/24/changing-driver-behaviour-can-help-environment-reduce-costs-protect-fleet/
** https://www.finansnorge.no/statistikk/skadeforsikring/kvartalsvise-statistikk-publikasjoner/skadestatistikk/