Electronic logging devices (ELDs) are required for most commercial drivers in the US, but did you know that choosing the right ELD can also help reduce costs for your freight business?
As a freight organization, you know firsthand how important it is to keep costs low and efficiency high. One way to achieve both of these goals is by choosing the right electronic logging device (ELD) for your business. In case you’re not familiar, ELDs are devices that commercial drivers in the US are required to use in order to track their driving hours and ensure compliance with hours-of-service regulations. But beyond just meeting this requirement, an ELD can also help cut costs for your organization in several ways. Here are four ways an ELD can save you money.
Improved Fuel Efficiency
An ELD can track a variety of data points related to your vehicles, including fuel usage. By analyzing this data, you can identify inefficiencies in your routes and make changes to reduce fuel consumption and save money. In addition to identifying inefficiencies, an ELD can also help you monitor your fuel usage over time and track your progress in improving efficiency. This can be especially useful for identifying patterns or trends that may be contributing to higher fuel costs.
Reduced paperwork and administrative costs
With an ELD, you no longer have to rely on paper logs to track driving hours. This can save time and reduce the risk of errors, which can lead to cost savings in terms of less paperwork and fewer administrative tasks.
Traditionally, commercial drivers have been required to track their driving hours using paper logs. This can be a time-consuming and error-prone process, as drivers must manually record their hours, and fleet managers must then review and verify the logs.
An ELD can help streamline this process by automating the tracking of driving hours. When a driver gets behind the wheel, the ELD automatically starts tracking their driving time, and when they take a break or stop for the day, it stops tracking. This eliminates the need for paper logs and reduces the risk of errors, which can save time and reduce administrative tasks.
In addition to streamlining the tracking process, an ELD can also make it easier to access and analyze data related to your drivers’ hours of service. This can be especially useful for identifying trends or patterns that may be affecting efficiencies, such as long wait times at loading and unloading points. With this information, you can make changes to your operations to reduce these bottlenecks and increase efficiency.
Overall, using an ELD to reduce paperwork and administrative costs can have a significant impact on your bottom line. By automating the tracking of driving hours and making it easier to access and analyze data, you can save time and reduce costs, freeing up resources to focus on other areas of your business.
An ELD can help improve safety on the road by alerting drivers to potential problems, such as tiredness or speeding. For example, if a driver is approaching their maximum number of allowable driving hours, the ELD can alert them to take a break to prevent tiredness or fatigue. The ELD can also track speeding and provide alerts if a driver is exceeding the speed limit, which can help prevent accidents. By reducing the number of accidents and incidents, you can lower insurance costs and avoid costly downtime, which can have a positive impact on your bottom line.
By reducing the number of accidents and incidents, you can lower insurance costs and avoid costly downtime.
With an ELD, you can more easily track the productivity of your drivers and optimize their routes for maximum efficiency. This can help you get more done in less time, saving money on labor and other resources.
The ELD can provide data on driving hours, breaks, and other activities, which can help you identify areas where productivity can be improved. For example, you may be able to identify areas where drivers are spending too much time waiting for a load, or where they could be more efficient by taking a different route. By optimizing routes and increasing productivity, you can get more done in less time, which can save money on labor and other resources.
Overall, using the right ELD can have a positive impact on your bottom line. By taking the time to research and choose a quality device, you can enjoy the cost-saving benefits it has to offer for years to come.
For more information on Transflo’s industry-leading ELD and Telematic solutions for fleets, please reach out to us today.