There is different cost associated with doing business if a company rely on fleet of vehicles. Mobile assets needs important capital investment. Moreover, maintenance and fuel costs can take up an important section of business’s profit margin.
Although, there are some hidden costs associated with this business that many fleet managers overlook. Due to the lack of security measures for vehicles can incur significant out of pocket expenses which increase liability as well as put lives in jeopardy.
Lots of companies discovered that by installing GPS vehicle tracking system via zenduit.com on their fleet vehicles that offer sure way to improve safety. GPS tracking offers a wide variety of features and benefits that businesses with vehicle fleets can utilize to significantly improve their safety records and protect their business from undue costs.
GPS tracking systems improves the safety of vehicles as well as driver, by installing this device your business can significantly reduce payouts for violations and accidents. Lots of business owners do not realize that the true price of an accident is 2 to 10 times more than the direct cost of accident.
The total cost of vehicle accidents include a variety of factors including:
- Lost time by employees at the scene of the accident
- Lost revenue because equipment is not producing income
- Failure to fill orders or meet deadlines
- Lost time by rescheduling missed jobs
- Lost time on accident investigations and reports by management
- Possible increased insurance premiums
- Public relations damage
Categories: Business and Management