Maximizing ROI: The Impact of ELD Devices on Fleet Operations
With the ELD mandate fast approaching, fleets need to be prepared. That means choosing eligible devices and a back-end software solution enabling them to do fuel tax reporting and data analytics. ELDs can help reduce fuel costs and maintenance costs by reducing idle time. It’s crucial given that idling a single vehicle for an hour can cost as much as a gallon of fuel.
ELDs eliminate the manual process of logging hours of service, eliminating much of the administrative burden on fleet managers and drivers. It saves time and money. Driver safety is also improved as ELD devices provide data on erratic driving behavior, such as hard cornering and excessive acceleration. It allows fleets to identify high-risk drivers and put them through additional training to reduce accidents and liabilities.
Some advanced telematic solutions can also use GPS tracking and breadcrumb trails to automatically reroute trucks away from traffic delays and relay critical maintenance reminders to drivers. It enables fleets to minimize downtime and deliver freight on time. Some systems can monitor and list engine fault codes in easy-to-interpret reports or real-time alerts. It can significantly reduce maintenance costs and keep vehicles in good working condition.
ELD devices remove the manual paperwork and hassle of IFTA filing, saving fleets time and money. They can also help optimize routes by providing data insights on route efficiency and fuel economy. Fleet managers can also use an ELD system to monitor driver idling time.
If a driver exceeds a set idling limit, a truck can be quickly returned to the yard for maintenance, saving hundreds of gallons in fuel costs weekly. Having an ELD system in place can also speed up the process of dispatching drivers to pick up and deliver cargo. A reliable ELD device supplier should also have an intuitive user interface that enables fleet managers to generate reports suitable for immediate action and drivers to manage their logs.
Reduced Fuel Consumption
In addition to eliminating the need for paper logs and reducing compliance risks, ELDs help fleet managers cut overhead costs. They eliminate the need for costly fuel tax filings and IFTA reports, as they capture this data automatically. They also optimize fuel usage by identifying drivers who waste fuel on unnecessary speeding, harsh maneuvers, and idling.
A good ELD solution will provide telematics features such as vehicle location updates and engine fault reporting. With these capabilities, a company can prevent theft and other security concerns by tracking vehicles’ locations, and maintenance technicians can fix faults before they cause further damage to trucks. It minimizes downtime and improves the ROI of trucking equipment. In addition, fleet managers can track drivers’ routes with the device’s GPS functionality.
Improved Customer Service
ELD devices prevent drivers from fabricating HOS logs, helping fleets maintain compliance with DOT regulations. They also allow managers to run actionable reports faster without sifting through stacks of paper logs at risk of being misplaced, lost, or not submitted. With the help of GPS tracking features, such as breadcrumb trails and route history, fleets can keep customers updated with real-time ETAs. It can reduce customer complaints and improve overall fleet customer service.
Additionally, letting the ELD manage IFTA calculations saves fleets on exorbitant filing costs and eliminates the risks of human error. It can significantly reduce CSA scores and insurance premiums. It can also help to reroute trucks away from traffic delays and relay maintenance reminders to drivers. It helps reduce fleet downtime and maximize ROI.
Reduced Maintenance Costs
ELDs eliminate paperwork, improve route management, optimize fuel consumption, and prevent vehicle breakdowns. The result is a significant reduction in maintenance costs. Some ELDs can track driver idling times and even offer an incentive program to encourage drivers to reduce their idle time. Idling eats up to a gallon of fuel per hour and contributes to excessive wear and tear on vehicles.
Driver fatigue also ruins fleet productivity, increases insurance premiums, and leads to more accidents that cost repair fees and cause lost customer business. Some ELD devices monitor driver safety, ensuring drivers don’t exceed HOS limits and reducing accidents and costly violations. They also monitor vehicle health with engine fault code reporting to prompt preemptive maintenance. It reduces downtime and boosts profitability.