Managing a fleet of business vehicles can provide many challenges, but when done successfully, it can help business owners and managers to minimise their costs and maximise their profits. Successful fleet management can also minimise time lost through vehicle breakdowns, accidents and driver downtime (estimated to cost UK SMEs an average of £6,000 a year).
Downtime occurs every minute a vehicle isn’t contributing value to the business, when costs (often significant) must still be paid. If a vehicle is out of action for days or even weeks, whether because of an accident or poor fleet management, the cash flow implications can be serious. Moreover, inefficient business vehicle fleet use can also add cost unnecessarily.