If you’re new to the fleet industry, it can be a challenging task understanding how it works. It takes time to manage and organise a company fleet in order to ensure its success however, there are some things you can do to make it easier. With that in mind, we have complied a quick guide on how to manage a company fleet, so keep reading!
What is a company fleet?
A company fleet is essentially vehicles owned or hired by a company in which their employees can use for business purposes. Company fleets range from cars to HGVs and can be used for purposes like delivering goods or attending meetings. Fleets are becoming increasingly popular due to the cost-effective benefits that come with them.
How do I manage a company fleet?
- Hire a fleet manager
You can’t expect to manage your company fleet while you have a list of other priorities to do in your business. This is why you should hire a dedicated fleet manager to stay on top of duties such as sourcing vehicles and managing maintenance and fuel. Hiring a fleet manager can also save your company money as you won’t have to look further afield for external help.
2. Join a fuel card supplier
Instead of worrying about how much fuel your fleet is spending at filling stations, sign up to a fuel card supplierto take care of this. If your fleet drivers have fuel cards, they can pay for fuel at various stations without using their own payment methods. This means that you will receive a monthly invoice and not have to chase proof of receipts from the drivers. At fuelcards.com, we also have an online portal where you can manage your account. This reduces administrative work so your to do list will be shorter!
3. Buy vehicles outright or hire
The decision of how you are going to purchase your fleet varies depending on your business. If you are a large company with a non-restrictive cash flow, you can probably afford to buy your vehicles outright which is more flexible rather than hire purchase. Alternatively, you can hire vehicles with the hire-rate based on how many miles you will be doing. The rate covers maintenance and other services so it can be cost effective if you are a smaller business. The only downside is that you never actually own the vehicle, and if its damaged, it can cost you more.
4. Regular maintenance checks
To minimise the chances of unexpected breakdowns or interruptions, preventive maintenance should be carried out on a regular basis. This can include regular tyre inspections, safety checks, oil changes or simply checking tyre pressure. If you carry this out routinely, you won’t have to worry about unexpected errors in your drivers’ journeys.
5. Monitor cost of ownership
Are you fixing older vehicles more often than you should be? This could be a sign that it’s time to sell the vehicle and invest in a new one. To ensure you are getting your money’s worth and not paying more for maintenance, it’s important to understand the value of your vehicles and how long your warranty lasts.
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