Fleet Asset Management Software

A single click on our fleet tracking software and you can see the status of your vehicles. You will know when they were last driven and the exact location they were at last reported. With this information, it is easy to quickly determine if something is wrong or if a vehicle needs repair.

In this guide, we review the aspects of Fleet Asset Management Software, truck fleet management software, construction fleet management software, and types of fleet management software.

Fleet Asset Management Software

Asset tracking is one of the most important aspects of fleet management. This allows you to know where each vehicle is at all times, which helps you keep track of them.

Asset tracking

Asset tracking software can help you manage your fleet by providing a central location to record and analyze information about vehicles. The following are some of the benefits of asset tracking:

  • Helps improve safety
  • Reduces costs
  • Increases efficiency

Examples of asset tracking software include:

Fuel management

Fuel management is a vital part of fleet management. It includes fuel consumption, costs and efficiency.

Fuel consumption

The amount of fuel used by your vehicles on a daily basis is one of the most important factors in determining the overall cost of running your business. The more you know about how much each vehicle uses, the better placed you are to make informed decisions about purchasing new vehicles and investing in upgrades that can reduce this rate.

Fuel costs

Your main source of income is likely not from selling cars or providing services; it comes from charging customers for using them. Fuel costs can account for as much as half of all operating expenses—so it’s crucial that you have accurate records so that you know exactly where each penny is going!

Vehicle maintenance

  • Ensure vehicles are maintained in accordance with manufacturer’s specifications
  • Prioritize maintenance based on vehicle age and condition
  • Use a maintenance schedule to help track maintenance
  • Ensure all service records are kept on file and available for auditing purposes

Preventive maintenance

Preventive maintenance, or PM, is a technique used to keep your fleet in top shape. It involves regular maintenance checks on all of your vehicles and equipment. Doing this will help prevent breakdowns and accidents, which can be costly in terms of time lost and money spent on repairs.

It also improves customer satisfaction by ensuring that vehicles are ready when they need to be—and that they arrive at their destinations on time and in good condition. This means you’ll get more repeat business from happy customers who understand the importance of reliable transportation for their businesses or personal needs.

When combined with other elements of asset management software such as data reporting and scheduling functions, preventive maintenance helps improve productivity by giving drivers real-time insights into problems with a vehicle before they become serious issues–allowing them to make adjustments quickly so everyone gets where they need to go safely! Finally: Preventing breakdowns reduces fuel consumption (saving money), cuts down on emissions (improvement environmentally), increases uptime (improving customer service).

truck fleet management software

Regardless of the size and type of your business, managing a variety of fleets is not easy. It requires you to cater to various day-to-day jobs, which leaves less time to focus on long-term strategies. Suitable fleet management software can handle all activities and optimize your fleet operations, enabling you to manage more critical tasks that directly impact the business’s ROI. Unfortunately, the “one size fits all” phrase does not apply to tech solutions. This buyer’s guide will help you research and find the right tool to support your fleet operations.

Executive Summary

What This Guide Covers:

What is Fleet Management Software?

Fleet management software allows managers and operators within the fleet industry to track, manage, maintain and analyze their operations. The software generally offers tools that serve and optimize activities related to transportation and fleets.

Depending upon the specific system or plan you choose, standard features include vehicle tracking, vehicle dashcams, HOS, ELD, fleet, asset and task management, and safety and compliance.

Analytics is another vital product offering of fleet management software that provides in-depth insights and tools. You can leverage data to gauge performance based on set KPIs and drive quantifiable success.

Businesses relying on vehicles and assets can streamline staff workflows and boost operational efficiencies. Logistics service providers, fleet owners and truck operators primarily use fleet management software. However, e-commerce, courier services, retail and food delivery chains can also use these solutions.

Deployment Methods

The type of deployment is an essential factor while selecting a fleet management solution. The key distinctions are data storage, hosting methods and pricing models that vary accordingly. Current industry trends show that cloud-based models hold several advantages over their on-premise counterparts. However, as businesses vary in their operations, size and requirements, on-premise solutions can be more suitable for specific enterprises. Here’s everything you need to know about the deployment strategies available in the market to make an informed decision.

Cloud-Based

One significant difference that sets the two deployment types apart is that the cloud-based model hosts the solution on the cloud. It provides businesses with complete freedom to access and scale the solution as per their requirements.

Generally, cloud-based software comes with a monthly or annual subscription model that includes support, maintenance and upgrades. Additionally, vendors may charge an upfront fee to support training and implementation; however, these charges are much less than on-premise models.

Cloud-based solutions automatically back up data in real time. Data security is a debatable topic. Data storage on remote cloud servers makes data more secure than on-premise data centers that are generally present within or near the enterprise, making them prone to malicious attacks.

On-Premise

On-premise systems require a physically owned server to host the solution. After purchasing the software license, you can install and maintain the services on the same server. It provides greater ownership over the solution, leaving more room for intensive customization. On the other hand, the responsibility and cost of maintenance lie on your shoulders.

Brace yourself to pay a hefty amount upfront, as this approach involves paying for infrastructure, hardware and software licenses. You may also have to regularly pay a certain percentage of license cost for support and overall maintenance.

Depending upon the complexity of the solution and your present human resources, you may require IT staff for support and maintenance.

If you are still stuck on deciding which one to proceed with, you can go for a hybrid cloud deployment method. This way, you can have the best of both worlds without necessarily having to choose a specific deployment model.

Primary Benefits

Here are the top seven advantages of implementing a fleet management solution in your organization:

Improves Routing and Fleet Productivity

Plan the best routes in advance without manual intervention. Allows rerouting on the road according to changes in order schedules, weather and traffic updates. Smart automation and other technologies enable automatic order scheduling, which boosts flexibility and increases deliveries.

Enhanced Customer Service

Your customers can access complete shipment information in real time. Generally, the software involves order information, dispatch ETA’s, driver details and even live map view in some fleet solutions. It gives a sense of greater control to customers and keeps them updated throughout the order completion process. Fleet administrators and managers can use this information to optimize delivery schedules with better coordination and route planning, which leads to quicker services.

Lowers Fuel Consumption

32% of fleets mention that fuel is their most significant expenditure. Several factors affect fuel consumption, such as driver behavior, vehicle idling, overspeeding, poor route planning and more. A fleet management system can help you plan better routes and access and analyze insights to maximize fuel efficiency. To track fuel efficiency, you can install retrofitted and embedded sensors based on the vehicle type and model.

Promotes Driver Safety

The safety and security of your drivers and fleets is a crucial element of the well-being and profitability of your business. Vehicle breakdowns and accidents can cause order delays, while poor maintenance leaves you with fewer working vehicles. Fleet management software continuously monitors driver behavior and vehicle health to avoid foreseeable faults.

Reduces Labor and Accident Costs

Save on unnecessary insurance claims, fuel charges and maintenance expenses using fleet management tools. Vehicle dashcams provide accurate collision descriptions and act as conclusive proof to mitigate false claims. Video footage helps coach drivers based on their behavior and issues.

Automates Tasks

An organization can create reports for landmarks, speed and time cards manually but, imagine a scenario where the fleet administrators constantly worry about driver behavior and vehicle maintenance. Automation handles all such day-to-day activities and alerts via texts or emails about exceptions or specified issues. Automated tasks reduce unnecessary administrative burdens and reduce the chances of manual errors while leaving more time to concentrate on growth.

Seamless Navigation

Navigation features provide drivers with turn-by-turn directions, best routes and traffic updates in real time. With access to fuel station points, toll locations and ETAs, these tools help optimize routes while carrying cargo or passengers.

Implementation Goals

Fleet management goes beyond scheduling routes and tracking drivers and vehicles. It is an essential tool that impacts your fleet operations. The right system can help you achieve the following goals:

Basic Features & Functionality

There are multiple fleet management solutions available online. Here are some core functionalities you can look out for to solve the pain points of your businesses. However, some desirable fleet management software may not include one or a few of these features.

Advanced Features & Functionality

Once you’ve decided on the basic features, it’s time to analyze all the complex functionalities delivered by modern solutions. Like the essential functions, you can ask vendors if these advanced features are a part of their fleet management software.

Current & Upcoming Trends

Businesses in fleet management need to stay updated with the latest trends to keep growing. Here are some of the top trends that you should keep in mind while selecting an appropriate solution for your business.

Impact of COVID-19 on the Fleet Management Industry

The COVID-19 pandemic has raised awareness about sanitization at a global level. Essential health and safety protocols are taken care of by fleet management vendors, but now they offer additional features for vehicle and driver safety and sanitization. For instance, vehicle inspections include sanitization measure checks and ensure that drivers have constant access to fresh and reliable PPE kits to avoid the spread of the virus.

Internet of Things

IoT devices attached to the fleet collect and share real-time insights on vehicle breakdown, fuel consumption, stops, ideal time, vehicle performance and driver behavior. It acts as a connected ecosystem that helps fleet managers and administrators understand and analyze fleet operations while anticipating and identifying issues to handle them proactively. It gives an accurate picture of operational efficiency and promotes informed planning and decision-making. The IoT can be helpful, especially when you disperse your fleet network across cities and borders.

Artificial Intelligence

Parallel with other technological disruptions, AI and its applications like computer-based display systems, automated communication and machine learning are empowering fleet operations. AI assists several fleet management areas, such as live tracking, dispatch and routing, driver management, fleet service and predictive maintenance.

Analytics and real-time reporting are other helpful features that AI brings to the table. Integrated data collected using AI with predictive analytics drives business intelligence and results in informed decisions.

The Cloud

According to Markets and Markets predictions, the global fleet management industry will grow at a 10.5% CAGR from $20.6 billion in 2021 to $33.9 billion in 2026. This significant growth will increase the adoption of analytics and cloud computing technologies in the fleet management industry.

Software Comparison Strategy

The comparison parameters mentioned below will help you select the best fit for your organization. While you are at it, make sure that the vendors you compare have a few things in common, such as simple integration with back-office systems, automated reporting, and easy-to-use user interface and dashboards. Mobile app support for Android and iOS devices is a great add-on.

Define Your Requirements

As companies differ in operations, sizes and several other areas, your set of requirements will vary from your competitors. Analyze and audit the current fleet management activities within your system and identify the scope of improvement.

Based on your requirements, you can create two lists of features or goals of implementation – important and good to have. While you brainstorm to prepare this list, it is advisable to keep stakeholders and IT staff in the loop.

Shortlist Vendors

Based on the primary and not-to-so important features list you have established, you should be able to create a list of vendors that could be a good match. Other than features, it’s necessary to keep in mind the customer services, implementation support and deployment options those vendors provide. At this stage, you should also allocate a budget for the expected purchase.

Reach Out to Vendors

Once you have a list of vendors that offer solutions most suitable to your objectives, it’s time to contact them. Explain your implementation goals and any additional requirements to them. You can also ask about the scope of customization that they are willing to provide. It’s a good idea to request a demo and free trial. You can expect a free trial of 14 to 30 days from some software providers. Finally, request a price quotation for a fair comparison.

Conduct Final Evaluation

Lastly, narrow down your search to three to five vendors. You can ask them for references of their previous and current clients, preferably from your industry and of the same company size. Reach out to the clients and ask for their feedback and suggestions regarding the solution.

Cost & Pricing Considerations

Pricing is one of the essential factors you need to consider while curating a list of the best fleet management tools. It generally depends on customization, company size, implementation and the type of deployment. Fleet management vendors typically have a vehicle-based pricing model; however, some charge on a per-user basis.

construction fleet management software

Tenna’s equipment management software and GPS equipment trackers are designed to make your fleet tracking simple and allows you to fully manage your heavy trucks and vehicles wherever they are, from wherever you are.

With GPS fleet trackers for vehicles and a full suite of advanced construction fleet management solutions, we let you stay connected to your fleet.

Fleet Tracking System Features and Functionality

Our analytics tools give you an easy way to quickly look up and extract data on your performance and records, get immediate insights and actionable intelligence.

Dashboards provide a high-level view of assets for optimal fleet management. From value of owned versus rentals to utilization to maintenance.

Choose from a variety of standard reports or create your own. Easily report out on your assets’ performance and get the data you need to see where you are doing well and where you can make financial or utilization improvements.

Our Answers feature provides the 10 top common questions for owners of a mixed fleet of assets.

A well-organized and easy-to-use asset database is at the root of an efficient fleet management system.

Search for asset information by project, group, location, category type and more and report out on asset or financial data when needed. View, update and manage all assets and their information – financial, utilization, maintenance, location, history and more.

Know when your fleet vehicles are running and view real time live data for the location, speed and direction of your trucks and vehicles, and who is driving them, as they are in motion with advanced map functionality on the web and in the app.

Review which trucks and vehicles are running currently as well as where they’ve been on past trips via the GPS fleet tracker data as well as geofences.

Monitor your fleet on your mobile device with Tenna’s fleet tracking app to always stay connected to your fleet vehicles in transit.

Your team can leverage your equipment management software to assess driver scorecards and dashcam footage, perform and record equipment inspections and driver vehicle inspection reports (DVIR), use your telematics data to comply with IFTA requirements, and track and reduce violations to efficiently streamline and implement safety across your assets and your business.

Be notified of un-safe driving events and review real-time video footage of on-road incidents triggered by pre-defined behaviors.

Get updates on driver behaviors from your GPS fleet tracker including speed, hard braking, sharp acceleration and idling.

Improve your safety and compliance program and comply with government regulations by incorporating a digital Driver Vehicle Inspection Report into your drivers’ and compliance officers’ routines.

Aid your accounting team in calculating accurate fuel tax you are liable to report to the federal government based on your area of operations with automated reports of miles driven per jurisdiction, by fuel type or by vehicle based on your trips.

Keep track of hours of service (HOS), mileage and how long your drivers are driving for overall and between breaks. You’ll have the automated fleet management data you need to easily keep accurate records and maintain ELD and HOS compliance.

Record and view data on truck and vehicle utilization by project site and individually by asset. Ensure owned assets are being used, understand how and identify whether its most economical to rent, buy or lease in the future.

Power Take Off (PTO)

Capture when the vehicle engine is being used for an activity other than running the asset. View vehicle and truck PTO status live across maps, see Trip Events for PTO Engaged and total PTO duration and see PTO column in existing Trips Report.

Schedule preventive fleet maintenance to stay on top of routine asset needs, submit maintenance requests for repairs from the field and create maintenance work order forms to manage asset needs and corresponding asset and mechanic schedules.

Get updates on telematic data with event-based notifications around location, engine operations, performance, driver behavior and pre-defined on-road safety events.

Leverage construction integrations with OEM integrations such as Ford and Volvo to manage all your heavy trucks on One Platform for total visibility and all-inclusive data. Share your comprehensive heavy truck fleet data from Tenna with other project construction management software and ERP system integrations used by your teams to make better business decisions.

types of fleet management software

For businesses who operate using commercial vehicles on a regular basis, finding a best type of fleet management software is crucial. When following best practices, fleet management software benefits business leaders by helping them efficiently track and manage the vehicles in their fleet. But the software also offers additional features and tools to help them boost productivity, optimize routes, cut driving time, stay up to date on fuel and maintenance needs, and much more.

What are the different types of fleet management software available to businesses today? Explore the different types of software for commercial fleets, including web-based vs. cloud-based, as well as options for various industries and fleet sizes. 

Web-Based vs. Cloud-Based Fleet Management Software 

You might choose a type of fleet tracking software based on whether it is web-based or cloud-based. Your decision will mostly depend on where and how you prefer to track your fleet and get in contact with drivers.

Web-Based

Web-based GPS fleet management software allows business leaders to track vehicles in their fleet using a web browser. Normally, you can access the software using the Internet or by downloading software onto your computer. Web-based GPS software also often allows you to customize your settings to access important information quickly, as well as facilitate software updates. 

Choose a web-based GPS fleet management software if you track your fleet from your office or computer most of the time. 

Cloud-Based

Cloud-based GPS fleet management software allows you to track vehicles in your fleet from anywhere at any time. This software is mobile-friendly, so you can access the GPS software using mobile devices, such as a smartphone or tablet. Normally, the GPS software provider offers a mobile app which can be downloaded on iOS or Android devices. This way, business leaders no longer have to have access to a desktop computer to communicate with drivers, locate vehicles, gain real time updates, and more.

Choose a cloud-based GPS fleet management software if you most often track your fleet and communicate with drivers from your mobile device or while on-the-go.

GPS Software By Industry

Another way to decide on a type of GPS fleet management software is to choose based on your industry. Different types of GPS software are often better than others for certain industries. For instance, a GPS fleet management software provider may offer a product that includes certain features and tools that assist your industry better compared to others. Consider the following types of GPS software based on your specific industry. 

1. GPS fleet management for Construction 

If you work in the construction industry, your priority is likely to keep track of your construction vehicles, teams, and equipment. You also may want to use the software to monitor safety and cell phone distractions, contact teams in real time, monitor fuel and mileage, and more.

2. GPS Fleet Management for Trucking and Car Companies 

You may want to find a type of GPS fleet management software that’s best suited to transportation companies, such as trucking and car services. When your vehicles are on the road most of the time, it’s important to choose a GPS software that helps you with everyday transportation needs. Look for features such as routine maintenance notifications, fuel and mileage reports, driver behavior monitoring, and real time driver communication. 

If you have a car service business, you may also want to prioritize driver to customer communication as well as live updates on wait times.

3. GPS Fleet Management for Healthcare

If you are looking for a good GPS fleet management solution for your healthcare facility, you will likely have different priorities compared to other businesses. For instance, you may want the GPS software to integrate with mobile patient visit verification tools and mobile paperwork, take additional security and safety precautions, and track valuable healthcare equipment. 

By Fleet Size 

You may choose a type of GPS fleet tracking software based on the size of your fleet. For instance, if you are a small business and have just 1-5 vehicles in your fleet, your needs and tools will be much different than a fleet of 20-50 vehicles or even more.

1. Small fleets (1-5 vehicles)

Small businesses or local businesses might need GPS software designed to help small fleets. These types of businesses might need a simpler GPS software solution that helps them to deliver products around town, track equipment and assets, and monitor employees more closely. 

Examples of businesses that may have smaller fleets include HVAC companies, plumbing companies, towing companies, construction companies, food delivery services, and more.

2. Medium fleets (5-20 vehicles)

If you are managing a mid-size fleet, you’ll probably need more robust tools than a small or local business. Your vehicles may be travelling further distances, so you may want to look for software that provides mobile app tracking, fuel and mileage reports, vehicle health and maintenance reminders, and more.

3. Large and Enterprise fleets (20-50+ vehicles)

If you are managing a large fleet, your GPS fleet management needs will be more demanding than smaller fleets. For instance, you’ll need to monitor many different vehicles at any given time which means you’ll require tools that will provide additional oversight and management. Look for GPS software that includes robust features such as 360 degree location viewing, cost savings tools, route optimization, real-time ETA updates, reporting and analytics and more. 

Compare Types of GPS Fleet Management Software

To explore various top-rated software providers, take a look at our Top GPS Fleet Management Providers list from 2020.

360Connect helps businesses of all types of sizes better manage and track their fleets. Our free comparison tool matches you with the best GPS software providers based on YOUR specific industry, business operations, and needs. Get started by filling out our GPS fleet management software form and we’ll help you save up to 30%!

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