How to Lower Your Fleet TCO?
With the global economic downturn, how can you manage your fleet way out?For anticipating future market changesusing data and statistics,telematics is a critical tool for managing the productivity and asset utilization to improve total cost of ownership (TCO).
The total cost of ownership (TCO) is a step to understanding the true return on investment from the time of purchase to the vehicle’s sale or retirement. It help buyers and owners determine their fleet’s direct and indirect costs. The cost depends on several factors including assets acquisition, operation, and resource costs.
To operate as a cost-efficient fleet in a recession, determining asset utilization is of significant importance. Eagle-I offers asset utilization to understand the total cost of your fleet while assessing the fleet to the needs of the firm: evaluating the maximum use of the fleet, the right size of the fleet, and pinpointing the vehicles that drain the budget, and determining the under-utilized or over-utilized assets with the extensive records of historical data.
The Eagle-i analytics dashboard provides the utilization of assets in terms of distance travelled, hours plied, and trips made. In addition to this, with a single click, a complete utilization comparison is available at the asset level and the accumulative performance of the fleet under one site or a category.
Keeping expenditures under control is an important aspect of fleet management. Eagle-I fleet management can be used as a budgeting and planning tool to identify fixed and indirect expenses. Monitoring vehicle health and driver behaviour, utilization of assets, and fuel usage are part of life cycle cost analyses for your fleet.
Eagle-I offers the big data analytical tools and deep expertise to assess your fleet needs, assist your sustainability goals in achieving net zero and identify the best path forward for your organization to improve your TCO.
To make informed decisions about what’s best for your fleet, partner with Eagle-I to find ways in which you can streamline these processes to reduce the total cost of ownership (TCO).
