Customized Fuel Tracking Technology to Accelerate your Business

fuel management system

Tracking SolutionWritten By: Suman Kumar Paul

If you approach any fleet manager regarding their costliest and most unexpected expense, 'fuel' would be the most common answer. The major constraint is the lack of predictability, as the price of fuel is affected by hundreds of external economic factors that none of the fleet management businesses can regulate or estimate. 

The best part is that the effective implementation of innovative customized technology can empower fleet managers in managing uncertainties and addressing the burden of increasing fuel rates. Modern commercial fleet fuel management solutions assist to optimize fuel costs by allowing managers to regulate every transaction and track the volume of fuel used per vehicle in real-time. 

Managers could regulate fuel consumption to a different level by evaluating data generated using telematics systems. 

Let us get straight to the point and explore how it functions and what benefits fleet fuel monitoring systems can offer to businesses. 

What is a fuel management solution? 

A fuel management solution is a fusion of hardware and software. It helps fleet managers to measure, regulate, and optimize fuel usage, finally reduces operational costs. 

The hardware part of fuel management solutions uses telematics technologies to communicate real-time vehicle data via telecommunication networks and devices. The software module, on the other hand, collects this real-time data from the vehicle's onboard sensors and delivers important data about the fleet's fuel storage, location, and consumption. This system analyzes a wide variety of information, collects data, and visualizes this data on a software platform to assess your fleet's fuel expenses and minimize fuel wastage/pilferages. 

Fleet managers can use telematics-based fuel management systems to proactively evaluate fuel consumption patterns and execute customized improvements to increase fuel efficiency. 

Earlier, fuel management was mostly a manual process managed by drivers in charge of monitoring fuel levels and other factors and reporting them to management. 

Customizable fuel management solution enables fleet managers to develop and monitor a variety of Performance metrics based on the information gathered by telematics and IoT (Internet of Things) electronic devices. Fuel monitoring systems can however give real alerts to management in the case of irregular vehicle behavior or other occurrences defined by policies. 

How telematics technologies can accelerate your business with precise fuel management ? 

Telematics technology serves as the foundation of several modern fuel management solutions. Fleet monitoring telematics solutions generate massive amounts of data about a vehicle and its driver. The information is gathered and delivered in real-time over wireless or cellular networks. 

The coverage and unique aspects of dataset procedures using a telematics system can be customized to a business's requirements. Telematics commonly gathers data such as location, GPS, speed, accelerometer, and more. 

Furthermore, data from the engine control module (ECM) is analyzed to evaluate and adjust fuel consumption. Eventually, if a specific vehicle begins to consume more fuel than it ought to, a manager receives a notification and is ready to take necessary actions before the scenario gets severe. 

Managers not only monitor unproductive driver behavior patterns employing cloud-based data provided by telematics solutions, but they can also forecast future faults or vehicle maintenance difficulties and rectify them proactively. 

What are the advantages of a fuel management solution, and why do businesses need one ? 

Lastly, the goal of a commercial fleet fuel management system is to give businesses comprehensive, real-time data on fuel use to regulate and optimize asset operational expenses. Employing an advanced fuel management solution benefits both drivers and fleet managers. Let us look deeper at the benefits received by two primary groups of beneficiaries. 

Benefits For Fleet Managers 

  • Keep track of the fuel inventory. Managers can obtain real-time data on fuel management status and take appropriate action before problems arise. 
  • Produce compliance reports. Accurate reporting and decision-making necessitate data-driven analytics. Advanced fuel management solutions include improved corporate intelligence and reporting capabilities. 
  • Reduce operational hazards. Fuel monitoring systems aid in strategic decision-making and help managers execute proactive and accurate operational actions. 
  • Improve fuel distribution. Managers can prevent fuel outages or misuse by employing consolidated data on fuel consumption. 
  • Obtain real-time statistics on fuel usage. Real-time fuel consumption figures enable managers to supervise the efficient and balanced execution of a business's strategies. 
  • Maximize asset usage and route mapping. Optimizing route planning and vehicle usage has been one of the best ways of reducing fleet management expenses. 
  • Improve automobile predictive maintenance. Managers can manage their fuel management programs current and update them by gathering data about vehicles' physical status using IoT and telematics solutions. 
  • Discover stats to understand more about fuel economy. Fuel monitoring solutions can assist users in identifying potential cash breaches and possibilities for improvement in business fuel efficiency strategies. 

Benefits For Drivers 

  • On-time fuel dispensing. Precise pump scheduling not only saves money for businesses but also saves time for drivers. 
  • Simplified Receipt and budget management. Fuel management systems enable drivers to regulate their expenditures and reduce the risk of exceeding their budget. 
  • Route optimization to improve the driving dynamics. By selecting less congested routes, fleet managers not only minimize fuel consumption but also improve the commutes more comfortable and pleasant for the drivers. 

Why choose the VTPL smart fuel management solution? 

Vareli's intelligent fuel management solution is comprised of two modules: onboard hardware and computerized fuel monitoring software (web-based and mobile). 

The following are the main hardware components: 

  • A telematics device for the vehicle 
  • Data loggers 
  • Capacitor-based fuel sensors  
  • Additional sensors (IoT electronic devices) 

The fleet fuel monitoring software incorporates the following modules: 

  • A dashboard for analytics that is accessible via the web, mobile, and/or desktop. 
  • Open APIs (Application user interfaces) for additional integrations 

The hardware component makes it easier to capture real-time vehicle data, which is then sent to the central analytics engine for in-depth analysis. To obtain a better understanding of driving conditions across different routes and vehicle types, you can also incorporate datasets from other sources such as traffic control systems or weather apps. 

VTPL helps businesses to deploy a customized fuel management solution. We collaborate to align technologies to adhere to business objectives and focus precisely to deliver the best possible results. Our solution ensures customers with comprehensive fuel monitoring insights with real-time analytics and reporting. 

Final Words 

Fuel management is a time-consuming and complex operation. Particularly when you cannot access critical data, analyze usage patterns, or identify the most expensive drivers. A fuel monitoring system acts as a data generator, collecting, storing, and analyzing data in a reliable form. In exchange, you will obtain a complete view of your past, current, and forecast fuel expenses, as well as advanced reporting features and connectivity with other fuel management technologies. Contact VTPL experts to learn more about customized fuel management solutions and how we can help to accelerate your business. 

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