How Fuel Management Software Overcomes 4 Key Challenges?

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How Fuel Management Software Overcomes 4 Key
Challenges? by Tithi Agarwal Last updated Jul
18, 2023 at 132PM
4 challenges that fuel management software can
help you overcome are lack of visibility, excess
fuel consumption, detecting fuel pilferage, and
more. Table of Contents
Fuel is an expense equal to liquid gold for fleet
and business. But it is also the biggest pain
point for logistic companies. 32 of logistics
businesses consider fuel to be the largest
expense. Companies are struggling to contain
their fuel consumption and avoid wastage. What
they need is fuel management system. That will
allow them to curb their fuel use, expenses,
wastage and pilferage. Read this article to
learn how to monitor fuel consumption and curb
your fuel-related expenses expertly.
What is Fuel Management System and Fuel Economy?
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For logistics companies, fuel is of great value
as it affects operational costs. This drives the
need to adopt fuel management. Now you ask,
what is fuel management? Let us help you
understand. Fuel management is about monitoring
and controlling fuel consumption through various
systems and solutions that will help you
optimise it. To do so easily, its best to use
fuel management software which is a part of fleet
management software. Industries across are
widely using the software. It uses
telematics-based tools and analytics to capture
fuel consumption data. Using the information,
managers can improve their fuel economy. Now you
might be wondering what is this fuel
economy? Fuel economy or fuel efficiency
indicates how long a vehicle can run on a unit of
gas. Routine maintenance, proper driving
practices, and tire care are some ways to improve
it. That is essential for improving the fuel
efficiency of the trucks. It can easily be
managed through fleet management software.
Read More How to Choose the Best Fuel Management
Software
How Does Fuel Management System Work? The fuel
management system leverages GPS trackers
technology and IT to generate a variant of
comparison graphs depicting the distance
travelled by the fleet from point A to point B.
These reports and graphs are key to gaining
operational insights for managers. Through them,
they can identify vehicle usage and anomalies
faced during trips. Using a fuel management
system will provide precise fuel consumption
data, helping you identify reasons for excessive
fuel usage. The reason could be incorrect tire
pressure, idling, or harsh driving practices. But
most importantly, it will alert you whenever
there is unusual fuel draining, fuel fraud, or
fuel overconsumption.
What Problems Do Fuel Monitoring Systems
Resolve? The fuel management system is not just
for curbing and monitoring fuel consumption but
also for solving other problems that come along
with fuel mismanagement.
Problem 1 Lack of Visibility Without a fuel
monitoring system in place, managers feel
blindsided. This is because they dont have
access to accurate and real-time information on
fuel consumption, trip status, and fleet
conditions. The only way for them to
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gain updates is by connecting with the drivers or
when they are handed over the fuel bills.
Solution 1 Real-time Fuel Monitoring But with
the fuel management system, being blindsided is
out of the question. That is because fleet
managers can monitor fuel consumption or fuel
per mile through the softwares dashboard.
Managers have complete transparency in fleet
operations as they get insight-rich reports in
real-time, which helps them stay in sync with the
on-ground activities of the fleet.
Problem 2 Latency in Reaction Building upon the
previous point, managers are bound to react and
not respond when suddenly bombarded with news.
This unawareness of the fleet consuming an
abnormal amount of fuel causes a delay in
reaction from the managers side. And the
decisions taken during this time might not be the
best.
Solution 2 Real-time Fuel Insights But with the
fuel management system, fleet managers are well
aware of the amount of fuel being consumed and
the reason behind the abnormal fuel usage. The
system is constantly providing real-time updates
and insights through fuel charts. Also, with the
vehicle health status in front of them, managers
are able to detect poor engine performance, which
is causing excess fuel use. This can be fixed
before commencing the trip to avoid sudden
breakdowns.
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Problem 3 Fuel Theft and Pilferage Fuel theft or
pilferage is common during trips. They have a
negative effect on the operational cost as fuel
expenses increase, leaving very little for other
aspects or resources. This fraudulent practice
becomes even more frequent when drivers know
that no monitoring is done.
Solution 3 Notifications and Alerts But fuel
monitoring proves this wrong. The system sends
notifications and alerts when it detects unusual
speeds of fuel filling or ejection levels. The
system analyses the minute-by-minute fuel usage
of each vehicle in the fleet. Such data will
enable managers to assess the amount of stolen
fuel with the exact location, time and other
facts supporting the claim. This will further
improve the operations by eliminating
malpractices during the trips.
Problem 4 Unable to Detect Fuel Wastage Managers
only get to know about fuel wastage when it comes
to reimbursing or paying fuel bills. This is
generally at the end of the trips. By that time,
the damage had been done. Neither are they able
to detect excess fuel use, nor are they able to
detect harmful driving practices
like Idling Route deviation
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Harsh cornering Unnecessary acceleration.
Solution 4 Precise Fuel Reports The combination
of fuel management and fleet tracking is able to
predict fuel wastage which is key to improving a
vehicles fuel efficiency. The fuel management
system provides analytical reports that contain
precise and real-time data and metrics. Data
like initial fuel level, final fuel level, engine
hours, idling time, fuel consumed in motion, and
much more. This helps detect hard acceleration,
deceleration, and idling, preventing substantial
fuel costs.
Read More How To Reduce Fuel Costs While
Boosting Fleet Safety
Summing Up! An efficient fuel monitoring software
is the need of the hour, seeing the ever-rising
fuel prices. With its help, logistics companies
can devise fuel-optimisation strategies, minimise
consumption, and maximise the fleets fuel
economy. TrackoBit offers fuel management
software that provides access to crucial metrics
that can be key to solving some of the major
hindrances in optimising fleet trips.
Schedule a demo now!
Tithi Agarwal Tithi Agarwal is a Jr. content
writer at TrackoBit. She enjoys writing blogs
which are knowledgeable yet fun to read. And
when she is not typing away to glory she has her
nose buried in books.
View all posts
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