With thin profit margins and high risks, owning and managing a towing business can be a real challenge. Mostly, these challenges come in the form of finding affordable insurance rates, ensuring safety and compliance, and efficiently managing vehicle fleets. In an effort to help, let's examine 5 benefits of electronic fleet inspections for towing businesses.
Most business owners do not realize that failure to properly maintain and repair company vehicles is a silent killer for profits. Not only do improperly maintained vehicles pose an unwanted safety hazard to your drivers, but can cost you an exorbitant amount of money. Vehicles which are out of commission for repair reduces the overall efficiency and productivity of your team. This is less product you are able to deliver and a fewer number of services you can offer.
Failure to keep your company's fleet in compliance can result in fines, penalties, and costly downtime until your business can meet fleet compliance.
In the era before digital transformation, fleet and operations managers frequently relied on the costly "management by the rear view mirror" budgeting strategy. This is a circumstance which was unavoidable with a paper-based fleet management system. In other words, managers would look back on past incidents of vehicle downtime, try to discern patterns, and budget for maintenance accordingly based solely on past fleet performance.
Maintaining a fleet of motorcoaches is about more than just protecting the company's assets. It's essential to the safety and well-being of drivers and others on the road. The Federal Motor Carrier Safety Administration (FMCSA) sets strict standards for the way that carriers carry out and report the results of inspections. In the past, paper reports were required to be completed at the end of each day. These days, electronic driver vehicle inspection reports (DVIR) help motorcoach companies improve the safety of their fleets and to stay compliant with federal safety regulations and rules.
Since their business is based on operating a fleet of commercial vehicles, towing companies are faced with multiple challenges. Not only do their fleet, drivers, and internal operations have to comply with DOT regulations, they also have to be experts at asset management. That's a huge expectation, especially when the responsibility falls on just a few key decision makers.