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How Innovative Toll Solutions Saves Money with a Fleet Toll Management System

As you are looking at your ongoing expenses to keep your fleet running, have you considered how much tolls are cutting into your profits? Not only are you paying for the expense of the tolls, but there are often additional fees for late charges and more. If you want to save money, then it might be time to implement a fleet toll management system.

Ultimately, the goal is to reduce overhead costs without having a negative impact on operational efficiency. There are many ways that fleet toll management supports both of these initiatives. Here are some of the cost savings benefits you can expect with Innovative Fleet Toll Management:

Better Logistics and Routes

It’s no surprise that your profitability is affected by the efficiency of your routes. Fleet managers need to look at gas expenses, mileage, tolls, and more. Sometimes, it makes sense to pay for toll roads with higher fees if it affects other expenses (such as fuel efficiency and costs). On the other hand, there might be other strategies that prioritize cheaper toll roads and improve logistics at the same time.

Maximizing Off-Peak Hours

Timing is an essential factor in the overall success of trucking companies. One thing to consider when you are looking for ways to reduce costs is by keeping your drivers on the road during off-peak hours. A fleet toll management system helps you make the best decisions based on toll schedules. Ultimately, you can use this data to boost productivity and minimize toll expenses simultaneously.

Leverage Toll Discounts

One advantage a fleet toll management system brings is the power of buying in bulk. Often, toll authorities provide discounts for operators who are using the toll road frequently. A fleet toll management provider negotiates more affordable rates for all of the clients, and these savings can definitely add up over time. Even if you are only saving a seemingly small amount on each toll, every little bit helps. These negotiated rages make a big difference, giving you the peace of mind to know that your fleet is getting the most favorable terms.

Optimizing the Use of Technology

Modern technology can be used in many ways as part of your fleet toll management system. For example, companies in the transportation industry can use GPS tracking and software for route and toll optimization. Even though there is an initial investment in the technology, it can result in ongoing savings because route decisions are based on the analytics coming from this technology. Managers can make more informed decisions, which makes it easier to cut unnecessary expenses.

Streamline Toll Payments

There are a lot of moving parts when individual drivers are paying tolls and submitting requests for reimbursement. Not only do you have multiple drivers to manage, but it can get complicated when the working with different toll authorities. If the drivers make mistakes, then the resulting costs can start to accumulate.

Cut Out Late Fees and Penalties

How much money are you spending each month for toll penalties and late fees? It can quickly spiral out of control if these payments are missed. Not only do you need to pay the overdue toll, but the toll authorities will often add additional costs for late fees and other penalties. Often, these extra costs are even higher than the actual toll.

The problem is that it’s easy for toll bills to slip through the cracks, especially when you are receiving so many different invoices throughout the month. So, if a payment is missed, you end up paying in a big way because of the extra costs that are added onto the reminder invoice.

Eliminate Manual Errors

When humans are handling the transactions, there is always a risk of error. One benefit of a fleet toll management system is that the toll payments are automated, which helps to eliminate manual errors and ensure that everything is being handled in a timely manner.

Reduce Administrative Costs

Administrative and overhead costs can definitely cut into profit margins. Sometimes, it can be a full-time job to keep up with all of the invoices that are coming through, as well as associated payments and more. How much are you spending on the employee who is managing it all? If you outsource fleet management to an expert team, then the employee is freed up to work on other priorities within your business.

It’s possible that you might be able to reduce payroll and benefits expenses because there isn’t as much administrative responsibility that needs to be managed in your office.

Improve Customer Satisfaction

Have you thought about the financial impact of customer satisfaction? When your customers are happy with the services they are receiving, then there is a higher likelihood that they will continue using your transportation company in the future – which means you have ongoing business. Also, you don’t need to worry about unexpected expenses to fix problems. A fleet toll management system keeps your trucks on route and makes it easier to ensure a safe and timely delivery every time.

Reporting and Auditing

Since a fleet toll management system centralizes all of the toll payments and transactions, it’s simple to run reports about the costs, results, and more. These reports and auditing practices can help you find discrepancies that need to be addressed. There are measurable ways that you can implement strategies to save money. An analysis of the numbers helps you be sure that your fleet operations are staying on track and you are maintaining the most cost-effective strategies possible.

Learn More About a Fleet Toll Management System

The cost savings speak for themselves! If you are looking for a way to streamline your toll management and reduce expenses simultaneously, then it’s time to look at your options for a fleet toll management system.

Innovative Toll Solutions provides the answers that you need, with proven systems that can be integrated for your fleet. We invite you to contact us at your convenience to learn more about the ways your trucking company will benefit from these services.