One of the biggest line items in any company’s budget is payroll. Labor is expensive, which is why it is so important to ensure that you get the most from every dollar you spend. Unlike other assets like vehicles or computers that can be easily tracked and maintained, employees are more difficult to manage. Drivers are particularly difficult to track because they tend to have more freedom than office-based workers. How do you know whether your drivers take an extra 20 minutes for lunch each day, or take personal detours in company vehicles?
Without tools to verify time reporting, you never know whether you are wasting labor dollars. Fortunately, vehicle tracking systems can help you solve this problem with your drivers.
Use Vehicle Tracking Systems to Save Money on Labor
Vehicle tracking systems with integrated time sheets allow you to verify employee timekeeping. What does this mean for your labor budget? Let’s take a look.
If you have six drivers and pay each of them $20 per hour, paying them for just one extra hour per week can quickly add up. If they weren’t working on your behalf for that hour, you are wasting money. How much money?
$20/hour x 6 employees = $120/week = $6,240/year
What if that extra hour each week was spent with a customer who paid you $55 per visit?
$55/hour x 6 employees = $330/week = $17,160/year in lost profits
Just one over-reported hour could be costing this business more than $23,000 per year. This is a substantial amount of money for many small businesses. Even for larger fleets, every hour lost corresponds to money lost.
Time sheet verification also helps you reduce or eliminate unnecessary overtime hours. Simply confirm that a driver was where they claimed to be and review their driving history for extra long stops or prolonged idling that might indicate that they were not working when they said they were.
It’s clear that accurate time reporting is essential for keeping labor costs low. Ensure that you are getting the most from your payroll budget by using vehicle tracking systems to monitor driver behavior.
Time sheet verification is just one of the many money-saving features that GPSTrackIt has to offer. You can also use features like smart routing to save on fuel costs, reminders to ensure timely maintenance, and field service management tools to optimize customer visits. To get pricing and a full evaluation of the ROI you can get with vehicle tracking systems, request a quote today.
How much money do you think you could save with vehicle tracking systems?