Fleet assets encompass more than just vehicles, so why shouldn’t tracking software? Fleet management software (FMS) helps fleets control and manage small equipment and tool inventories and maintenance—in addition to automating workflows for streamlined performance.

FMS Goes Beyond Compliance

Most fleets are familiar with the necessity of tracking fleet-related data as it pertains to regulatory compliance, but data tracking offers benefits beyond that. The more data fleets track, the more insights they can gain around improving daily operations, including:

• Precision billing and scheduling;
• Route optimization;
• Fuel consumption and/or misuse;
• Optimized preventive maintenance (PM) schedules; and
• Driver behavior issues.

As a tool intended to make fleets more efficient, FMS saves time and boosts productivity through workflow automation, real-time automated data collection and automated reporting. FMS is meant to do the heavy lifting so fleet managers can focus on more important tasks, and this is equally true for tools and small equipment as for vehicles and heavy equipment. Employees can quickly and easily check out and assign tools to themselves via an FMS’ mobile app, allowing managers to see where any piece of equipment is, with whom and at what time.

Utilization Data Helps Determine Asset Needs

In addition to keeping physical track of tools and small equipment, FMS can also track utilization data. Utilization data can help inform a number of actions, including PM schedule adjustments and inventory procurement. Tool and small equipment acquisition and replacement costs add up quickly, but performing routine maintenance and monitoring utilization ensures fleets get the most out of their equipment.

By analyzing utilization reports, fleet managers can assess utilization trends of certain equipment to determine whether to add new equipment, change equipment brands for increased asset durability, and even find under-utilized equipment in their current stock.

Customize Inspections for any Fleet Asset

While utilization data gives fleet managers a historic view of asset use, it’s still important to be proactive in maintenance. Maintenance issues must be identified and resolved quickly to maximize asset uptime. Proactive asset maintenance mitigates safety risks by keeping assets properly maintained, and FMS makes asset statuses visible to the whole team.

Fleet managers can create customized asset inspections in FMS to address any type of asset in their fleet, from heavy equipment to hand tools. By using an FMS’ mobile inspection app, operators can complete asset inspections and upload results instantly. Managers are immediately notified of any inspection failures and can assign mobile work orders to technicians and track repair progress from start to finish, as well as track detailed line items and link part costs to individual tasks to better control expenses. This automated process speeds up the maintenance workflow and helps keep potential issues from falling through the cracks.

Managers can also take a proactive approach to asset maintenance with PM scheduling. Fleet managers can automate service reminders based on usage or calendar intervals, ensuring all equipment is routinely serviced to maximize ROI. FMS provides increased asset visibility across a fleet’s operation and allows fleet-wide communication of issues in real time to keep the whole team informed of potential asset-related safety issues.

Increase Asset ROI

When it comes to tools and small equipment, some fleets choose to replace instead of repair. While this strategy can have a negative impact on your bottom line, for some assets, replacement is the best answer. But without data to back up one choice or the other, it can be difficult to determine if replacing or repairing an asset is the best choice. Utilization data and maintenance histories can provide a good idea of an asset’s ROI, whether replacement or continued repairs are the best option, and even whether contractors need increased inventory based on utilization.

Tracking acquisition and maintenance/repair expenses in a cloud-based FMS allows you to comprehensively monitor spending. With configurable reports, you can break down expenses at a line item level, or view high-level metrics like total cost of ownership. By tracking costs in real time, managers can easily perform a cost analysis with configurable reports and make data-driven decisions to improve operations and maximize ROI.