Many companies have implemented Electronic Driver Logging (ELD) systems in compliance with the Federal mandate of December 2017. But any still haven’t. A non-scientific poll of Overdrive readers revealed that one third remained unsure about their response to the mandate. And based on our ELD sales volumes in January, 2018 so far, it is clear that some companies still haven’t taken the plunge. We understand, ELD is a compliance requirement and while there are some benefits to both the driver and the company, most owners and fleet managers see ELD as a cost of doing business rather than something that will help the bottom line.
That’s why we, at EZ fleet, have recommended that companies put in ELD systems in conjunction with the implementation of a GPS Fleet Tracking System. For most companies, the Fleet Tracking System will cover the cost of BOTH the ELD system and the Fleet Tracking system, sometimes in the first month of use. While there are many benefits of a GPS fleet tracking system (described here), the cost savings typically come from fuel savings (up to 20% derived from improved driver compliance) and productivity improvements (up to 5-10% more productive hours). Looking only at productivity, assuming a worker has an 8 hour day, a 5% improvement in productivity yields 8 extra productive hours per month. If you can earn $100/hour for these extra hours (just an example), that amounts to $800 incremental profit every month, paying for both the ELD system and the GPS Fleet Tracking system many times over.
We’d also recommend implementing the two systems at the same time so that installation in the vehicles can be done concurrently, minimizing vehicle downtime. Also, both systems can be explained to drivers at the same time, highlighting the benefits to them <see more here>.
Contact us and learn more about how to make money while complying with the ELD mandate. Enforcement is likely to start on April 1.