‘Tis the season to be jolly’—but also to be busy! At this time of the year you should typically be some way into next year’s planning—you’d be a little on the late side if you haven’t started already. We know everyone is extremely busy as this time of the year, but in order for a business to plan ahead for 2019, they should be sure to make the most out of what is left of the 2018 budget.
If you are like the majority of businesses operating fleets, you will probably have some leftovers in the budget that are subject to the old ‘use it or lose it’ rule. But what happens for lots of companies is that they either do not have time (or feel they do not have time) to decide on an intelligent spend for this, or they just squander it on irrelevancies, just for the sake of not losing it. If you are among those who, luckily enough, can decide what to do with the leftovers after your holidays and it is available through to 2019, you can weigh up your best investment options and get ready for the final toasts. But if not using that budget means having a lower budget for 2019, then you might be urged to spend.
First of all, how have you been able to establish how much is left of your fleet management budget? Like in every other sector, the idea is that everything applying to the expenses of your fleet is tracked carefully and all items accounted for when calculating your remaining budget. If you are still using multiple systems to get your fleet expenses on a digital file, chances are that your estimate is inaccurate and you might actually waste budget that you don’t have or either cannot take advantage of what is left for the year. Are you sure that you or your organisation is actually keeping track of all the factors that make up the fleet spend and that your budget estimate is accurate?
If the answer is ‘no’, you should definitely consider the acquisition of a system able to record all of your expenses in order to get a realistic view of how much you can potentially spend or how much you should keep on saving. Even better if that same system is able to offer other options at the same time, such as a complete maintenance module or other tools able to make your office paperless. With time, you should not only be able to check out on remaining budget, but also to have a realistic forecast on next year’s spending, a regular review of your spend which will allow you to set your fleet strategy in a more intelligent way.
If you already have a system able to do so, maybe you can check out what the next trend is: dashcams have started to become more and more important for both drivers and fleets, and insurance companies have started to offer discounts to those interested in this product. If you need more information, make sure to let us know: we have quite a few ideas to make your season jolly and your budget spend wiser!