It’s a safe bet that “cutting costs” is on virtually everyone’s list of priorities. Even millionaires and billionaires take pains to avoid paying for anything they don’t absolutely need to pay for (and even then…). There’s nothing unusual about saving money.
Unless, that is, you’re talking about the transportation industry. The current cost-cutting trend among fleets is remarkable for 3 reasons:
- the scope of the challenge,
- the reasons fleets give for cutting costs, and
- where executives are turning to save money.
The survey, which examined best practices, trends, and current issues influencing transportation operations in the U.S., found that reducing costs, increasing fleet size, incorporating telematics solutions, and hiring and retraining new drivers were the top business priorities across the industry.
With margins thin across the industry, more organizations are looking to technology and outsourcing drivers and equipment to improve productivity, streamline operations and reduce waste, according to Teletrac Navman.
In other words, this isn’t run-of-the-mill cost-cutting, but a concerted effort to survive in an increasingly tough industry. And it’s not just antiquated processes or the driver shortage that are harming fleets’ bottom lines: “Of those implementing new technologies, 41% said they were doing it to increase regulatory compliance.”
If you’re looking for ways to leverage technology to cut costs and increase compliance, you’ve come to the right place. It’s not often we get the chance to plug our platform so directly! Compli’s online system integrates all of your onboarding activities—driver qualification forms, training and policies—making it easier and faster for your drivers to complete what’s required to get your fleet rolling as soon as possible. What’s more, you get continuous tracking and reporting, so you know exactly where your drivers are in the process without ever having to wait for a report.