Long Term Affects of Embracing the ELD Mandate

ELD Mandate – Coming Soon!

With less than a month away, the fast approach for the ELD mandate has many owners and drivers in the industry juggling things to get to the finish line. In the hustle and bustle of it all, let’s not forget why we are doing this. The primary reason is for compliance with the FMCSA’s final ELD rule. Now let’s pause and shift focus on some of the long term benefits of the ELD mandate and embrace what could be a great step in the right direction for your fleet and trucking business.

ELDs will help fleets streamline their operations, maximize profits and create growth opportunities based on the information that can be gathered from these devices.

Lowering your CSA scores

Keeping low CSA scores means more clients, reduction in liability and ensuring your clients and law enforcement that your fleet is committed to safety. ELDs can improve your CSA scores in many ways. Drivers and dispatchers can keep better track of HOS so that drivers are not on the road when they are supposed to be out-of-service. This supports safety measures and helps reduce possible liabilities.

Lowering your Insurance Premiums

Insurance companies believe that ELD’s help increase fleet safety. ELDs come with GPS tracking features which helps lower the risk of stolen and hijacked vehicles. This is why fleets with ELDs receive much lower premium rates. In the long term you will notice the lower insurance savings add up to great savings for your fleet and trucking business.

Automating your IFTA calculation

At the end of every quarter IFTA reports need to be completed and the amount of paperwork involved can be burdensome. ELDs can help automate the IFTA calculation process with less error thus reducing audit risk. ELDs can help calculate traveled distance and fuel purchased by jurisdiction which helps make the end of the quarter paperwork more seamless. The amount of time spent on administering these reports will be greatly reduced.

Decreasing your liabilities

The long distance driving  and treacherous roads always present a risks of possible accidents. The ELDs can record the information in real life. In a case when an accident is not your fault the ELD can be a powerful tool. The recorded data can be used as evidence to prove your case. Even if the accident is the fault of your driver the information can help you learn from the incident and play a preventative measure for the future.

Minimizing administration

With the use of ELDs manual paperwork and administration is no longer needed. The driver doesn’t have to manually record their HOS. The ELDs track this information automatically. The ELDs help reduce overall cost and keeps the driver focused on their work not the paperwork.

Reducing fuel waste

With ELDs a fleet or truck owner can track their trucks and your drivers. Being able to track the amount of time spent idling and its frequency can help a fleet supervisor gauge amount of fuel waste and how to correct this. The ELD can also work with other tools to support better route planning to help avoid any accidents, traffic, weather conditions to make the driver’s route more direct to save fuel.

Increasing profits

By being able to identify recurring issues or concerns ahead of time, precautionary measures can be put in place to catch things before they happen. This create efficiencies. Also, with all the other items listed amount such as decreased administration and liability, better insurance rates and CSA scores can greatly reduce costs for your fleet company and help you become a more profitable business.

Even though their is a struggle with making the switch to the ELDs at this time, the long term benefits of the ELD mandate can out-weigh the short term struggles of the switch. The ELDs and help put your business become more streamlined and profitable.

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