Fleet Tracking Return On Investment
22
May
2011
Once you’ve purchased your fleet tracking system, what variables should you be looking at to reduce business expenses? The two we recommend first looking at are:
1. Payroll Costs
2. Fuel Savings
Before you begin to quantify your ROI, you’ll need a baseline to measure your current average costs. For payroll costs, get a total of the number of drivers and their hourly rate of pay. Calculate your monthly spend on payroll, including overtime hours. For fuel expenses, total your monthly fuel spend.
Let’s focus in on payroll savings, which are at most businesses their largest recurring business expense.
You’ll want to look for areas where time is being wasted:
1. Employees starting late
2. Extended breaks
3. Unauthorized stops
You won’t be able to see the above by just looking at a submitted time sheet – by using a vehicle monitoring system, you’ll be able to easily uncover these key variable that will reduce your labor costs. Furthermore, you’ll be able to verify submitted time sheets and find discrepancies.
Take action. Once you’ve identified specifically where the payroll “leaks” are occurring, correct them. Than simply measure your baseline measurements to post-corrective measures that were taken. Set a new baseline and repeat the measurement again. Optimizing your payroll costs will help you trim the fat – ultimately, saving you a lot of money.
In our next blog posts, we will discuss – the fuel saving aspect of this equation.
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About George Karonis
George Karonis is the founder and Chief Executive Officer of LiveViewGPS Inc., a company he established in 2008 with the vision of making real-time GPS tracking more reliable, affordable, and accessible for businesses of all sizes. Over the past two decades, he has built a reputation as an innovator in GPS tracking, fleet management, asset monitoring, and Push-to-Talk over Cellular (PTToC) communications.
Under George's leadership, LiveViewGPS has grown into a nationally recognized provider of GPS tracking solutions, serving businesses, government agencies, educational institutions, law enforcement organizations, and public works departments throughout the United States. The company's technology helps organizations improve operational efficiency, protect valuable assets, increase driver safety, and reduce operating costs through real-time location intelligence.
Before founding LiveViewGPS, George developed a background in security, surveillance, and emerging location technologies. His passion for innovation and practical problem solving has driven the development of products that combine dependable hardware with easy-to-use cloud software, giving customers actionable information when it matters most.
In 2018, George expanded into nationwide Push-to-Talk over Cellular communications by launching PeakPTT, providing businesses with rugged, instant communication solutions that operate over LTE and Wi-Fi networks. His focus has remained the same throughout his career: delivering dependable technology backed by exceptional customer service and long-term customer relationships.
George regularly writes about GPS tracking, fleet management, asset protection, business technology, and communication systems. Through this blog, he shares industry insights, practical advice, and emerging trends to help organizations make informed decisions about tracking technology and connected operations.
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