Fleet management companies (FMCs) face increasing pressure to maximize efficiency while minimizing costs. Client wants and needs continue to evolve, and the cost of running a business steadily increases. FMCs must adapt their approach to enhance service while conserving resources.
How can they do more with fewer resources while keeping customers happier? By implementing a fleet orchestration layer to automatically generate data-driven insights and automating workflows using orchestration. The combination of automatically creating insights from data trapped in multiple different IT system siloes and then putting those insights to work with automations and orchestration can do the work of dozens of employees, allowing your existing teams to focus on the work that matters most.
Enhance Fleet Lifecycle Management through Automation
FMCs are in an age of digital transformation. Some organizations have just begun implementing automation solutions to streamline aspect of vehicle lifecycle management: acquisition, fitting instructions, delivery, maintenance, and vendor and client communication.
FMCs have access to new tools that automate tasks that once consumed employee time and energy.
Integrating data and automating processes throughout the fleet’s lifecycle increases efficiency while cutting costs. Not only does automation increase the speed at which an FMC can deliver the product, but it also addresses the issue of human error. Automated information systems reduce the risk of incorrect data input, which can disrupt an entire order or vehicle lifecycle. At the same time, automation gives FMCs the agility to adapt to changing client needs in this evolving market.
Implement Predictive Maintenance to Reduce Repair Costs
After fuel and vehicle depreciation, vehicle repair is the most costly aspect of fleet management. FMCs have massive potential for cost savings when they tackle the issue of reactive repairs. Predictive maintenance is the answer.
Unlike standard repairs or preventative maintenance, predictive fleet maintenance centers data integration and machine learning algorithms to carry out maintenance based on unique metrics for each vehicle: usage, mileage, driver behavior, routes, etc. When predictive maintenance is done right, FMCs keep vehicles on the road longer, shorten downtime, reduce instances of breakdowns and the associated repair costs, and spend fewer resources on vehicle replacements.
Predictive maintenance is the solution to reducing unnecessary spending on vehicle repairs while extending each asset’s lifespan.
Address and Shorten Downtime with High-Level Visibility
Any time a vehicle is off the road, FMCs and their clients lose money. Optimizing fleet vehicle lifecycles must include addressing the issue of vehicle downtime. Fleet managers can tackle this problem in several ways, but all solutions point back to vehicle lifecycle visibility. End-to-end orchestration of your fleet lifecycles allows you to
- Monitor vehicle health
- Track driver behavior
- Identify faults early with predictive maintenance
- Extend vehicle lifecycles
Gaining a holistic view of the vehicle lifecycle allows FMCs to take proactive steps to shorten cost-consuming downtime and optimize fleet lifecycles for cost savings. Visibility empowered by end-to-end fleet vehicle lifecycle orchestration prevents downtime before it becomes an issue. Implementing automation into fleet lifecycle management empowers FMCs to digitally transform every aspect of their business and gain instant data visibility. According to Geotab, real-time data analysis enables immediate operational adjustments, reducing vehicle downtime by 20%; significantly affecting replacement costs.
In addition to the immediate cost savings of keeping vehicles operational and on the road, less downtime within the fleet leads to a better customer experience. Clients need FMCs to deliver consistent, predictable service. When a vehicle unexpectedly needs repair or replacement, the client is forced to shift operations. Abrupt changes in a vehicle’s operational status can frustrate your clients and lead to a poor customer experience that affects their perception of your service and your business. Reducing vehicle downtime, especially unexpected downtime, is critical to ensuring lasting customer relationships. Cultivating customer loyalty reduces the costs associated with customer acquisition and retention and increases the lifetime value of your customers, boosting sales and revenue in the long term.
Identify and Improve Inefficiencies in the Vehicle Lifecycle
The most effective way to reduce expenses in fleet management is to identify (and mitigate) resource waste before it occurs. Taking a proactive approach to cost savings will save time, conserve energy, and reduce stress for FMC teams and their customers.
Consolidating your data into a single source of truth lets you –– and your customers –– see the bigger picture of fleet vehicle lifecycles by
- Tracking vehicle metrics, including fuel consumption and vehicle health
- Identifying vehicle lifecycle trends
- Informing decision-making with real-time data
- Customizing the dashboard to align with business goals
- Monitoring driver safety and behavior
- Establishing benchmarks and measuring ongoing success
Integrated data and automated analysis uncover inefficiencies in fleet lifecycles, both internally from a management perspective and externally regarding vendor service and communication. Comprehensive visibility enables informed, data-driven decision-making that improves operational efficiency while reducing costs.
Optimizing Fleet Vehicle Lifecycles with End-to-End Orchestration
End-to-end orchestration is the linchpin of optimized fleet management. High-level data visibility allows FMCs to streamline operations, identify deficiencies and inefficiencies, and take proactive steps to address any vehicle lifecycle issues before they become a drain on company resources.
The Ridecell platform is the most complete and effective fleet vehicle lifecycle visibility solution on the market. Instead of operating with multiple information systems and siloed data, our tool keeps your vehicle lifecycle data in one location. The Ridecell platform allows you to
- Blueprint Processes – Mapping your processes allows you to identify bottlenecks and inefficiencies almost immediately so you can tackle potentially costly issues in your operations.
- Break through Information Siloes – FMCs work with massive volumes of data. Our tool allows you to gather, organize, and analyze all data points to surface valuable insights for your business.
- Orchestrate Improvements – Automating workflows and communication creates better experiences for your teams and clients while simultaneously cutting costs.
- Maximize Resources and Cost Savings – The Ridecell platform allows you to track data from every step of the vehicle lifecycle. End-to-end orchestration and automation help you make the most of every resource, maximizing cost savings and delivering exceptional experiences to your clients.
Choosing Ridecell empowers you to optimize every aspect of the fleet vehicle. Learn more about how Ridecell can help you reimagine your fleet leasing business to maximize revenue and cost savings.