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How an ELD is Profitable for Your Business?
Posted By eTrucks Canada
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People who handle commercial motor vehicles, or CMVs, utilize an electronic logging device. Driving time records and hours of service (HOS) are automatically recorded by these devices. The ELD automatically logs all required data, including driving activity, ignition status, location, kilometers driven, and engine hours, by syncing with the vehicle's engine.
The tool makes it easier for dispatchers and commercial drivers to know a driver's current status in real time. This information guarantees that there are no dangers of breaking HOS regulations and lets both parties know how many hours the driver has available.
How to use your ELD's data to boost profitability?
Using the data from your ELD has several advantages, and we'll go over how to use it to boost earnings in this article on ELD trucking. ELD tools offer a trucking company an enormous quantity of operational data, often data that was not previously available to the organization.
Profits can be greatly increased by using this data to produce actionable insights. Companies can use their ELD data for a range of purposes, including:
- Reducing the Use of Fuel: Reducing fuel use is crucial because, as the American Transportation Research Institute (ATRI) notes, fuel makes up 24% of operating costs. Each driver's idle time is tracked by ELD systems, which present the data in easy-to-read summaries. Fleet management can then utilize these reports to provide drivers with financial incentives to reduce idle time, which helps the company save fuel expenses while also benefiting drivers.
- Enhancing Driver Safety and Preventing Accidents: Truck drivers already know that accidents are a constant danger when driving, therefore they don't need an ELD tutorial to remind them of this. severe braking, severe acceleration, and hard cornering events are monitored by ELD Providers for every driver. The information is then utilized to create a scorecard that represents each driver's safety ranking. By concentrating on the drivers that require the greatest correction, you may coach them more intelligently thanks to this data. Additionally, you may use the data to incentivize safe driving and promote safer practices throughout your fleet.
- Preventing vehicle breakdowns: Another application for your ELD data is this one, as trucking businesses may find breakdowns to be somewhat costly. ELDs may continuously search the trucks in your fleet for problem codes, compiling a list of them into easily readable reports. By preventing the need for diagnostic services at the shop, this helps save time and money.
- Boost asset utilization: Some ELD Providers offer information on vehicle utilization rates. You can use this information to identify trucks that aren't getting enough use so you can either sell or lease them during busy times.
There are some exclusions to the law for Eld Trucking, despite the many benefits. Some trucks may not be required to use an ELD depending on their manufacturing year, or other factors.
Brian Styris is the author of this article. To know more about Telematics Fleet Tracking please visit our website: etrucks.com
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