Benefits of Using Speed Tracking Devices for Businesses
How do you know how fast your drivers are going on the road? You’ll never know the answer for sure until you have speed tracking devices in your business vehicles. These devices are often included in regular tracking systems that use GPS signals, so you always know where your vehicles are and even how your drivers are acting on the go.
Getting the right vehicle tracking device for your business can mean lower insurance costs and improved security. Comparing devices means you can find a system that has all the features you need to match your budget. Here’s how a speed tracking device can help your business.
(Updated Thu, 2 February 2023)
What are speed tracking devices?
The devices are installed in vehicles to monitor the speeds of drivers. These devices use GPS signals to see where the vehicle is and where it’s going. Using that data, the device can accurately calculate how fast your driver is from A to B. Many of these devices now come with an online account or app, so managers can check their drivers’ speeds on the go.
Top 5 benefits of speed tracking devices
1. Check for speeding
GPS tracking devices can alert you if an employee is speeding. Speeding is one of the worst causes of accidents, so if you can find poor driving behaviour and nip it in the bud, you’ll be saving your business a lot of hassle in the future. Many speed tracking devices also have an online portal, where you can sort the information by driver and check their speeds on journeys. This will show you their average speeds and driving behaviour.
2. Track your fuel usage
How much fuel are your drivers using? GPS tracking devices have an online system, where managers can check how much fuel their drivers or fleet are using. These devices can also pick up when vehicles are idle for too long, which wastes fuel.
iCompario tip:
Do you use fuel cards? If you don’t already use fuel cards, it might be worth considering if monitoring your fuel usage is a big part of why you want tracking devices. Speed tracking devices can be combined with fuel cards to get even more accurate reports. This helps you monitor your fuel usage to the litre. Businesses that already use fuel cards or have multiple vehicles will get the most use out of this.
3. Improve route selection
One of the ways businesses spend more on fuel is by using inefficient routes. Getting stuck in traffic and using a longer route than needed can all make your drivers use more fuel than they really need to. Tracking systems let you keep an eye on your vehicle’s location and monitor which routes work best.
4. Find stolen vehicles
Speed tracking devices equipped with GPS can be used to track down stolen vehicles. Simply login and check the vehicle location, then pass on the information to the police. Tracking devices help you improve your security and improve vehicle recovery times. Some GPS trackers are easier to remove than others for thieves, but you can get small and hard to remove devices. Many thieves tend to avoid vehicles equipped with GPS trackers because of the extra risk of being traced. While they can’t give you 100% security, they can help to give that extra reassurance and get your vehicles back faster, so your business isn’t interrupted.
5. Reduce insurance costs
Whether you get a basic tracking device or add extra security features, many insurance companies will offer lower prices. This is because the devices help to prevent speeding and accidents, so you’re less likely to make a big claim. Before getting your devices installed, it’s worth checking with your current provider what prices they can offer and doing an insurance comparison if they can’t lower your current prices.
Types of speed tracking devices
There are many types of tracking devices to suit every budget and fleet size. Some tracking devices can even be self-installed or combined with your fuel cards for convenience. These are just some of the most popular types of devices:
Self-installed devices
Some devices will have to be installed by the provider, so you will have to pay an extra fee for them. Self-installed speed tracking devices are quick to set up and are often the cheapest because the provider doesn’t have to get involved. You often don’t need a mechanic or a lot of experience yourself to do the job as long as you follow the instructions for the self-install tracking device.
While self-install devices are cheap to install and can help you keep an eye on speeding and location, they can’t monitor your fuel usage. You’ll need a different type of device for that.
Fuel card integrated
These speed tracking devices combine your fuel card system for the most accurate fuel usage reporting. For businesses who want to cut down on fuel costs, this type is your best fit. The device uses your fuel card spend data and GPS location to give you accurate MPG (miles per gallon) reports. This helps you manage your fuel spending with all the added benefits of speed tracking in one place.
Fleet speed tracking devices
Medium to large size fleets will benefit the most from this type of device. Many providers will offer you a customisable fleet management system. This online account lets you monitor your drivers to avoid speed, discover which drivers are at risk of accidents, and create alerts for events that are important for you. Fleet management tracking devices are the most flexible and customisable. While they are usually more expensive, you do get what you pay for.
Fleet speed tracking devices can even be integrated with your fuel cards and dash cams for highly accurate data. For businesses looking to upgrade their security and admin, these devices are one of the best tools available to help you in every step of the business.
Who can get speed tracking devices?
There are speed tracking devices and GPS apps available for personal use. Business speed tracking devices are more in-depth and designed to help prevent profit loss and minimise risks on the road. There are many types of devices out there for every business type and budget.
Personal use devices are not very suitable for business use, especially for fleets and businesses that need a secure option. Personal use trackers also don’t come with the extra features business providers offer, so you will be missing out on many of the benefits.
How to get speed tracking devices
First, you’ll need to find your tracking device provider. After that, providers will send you quotes based on the features you select. You’ll then either self-install or the provider will send out a mechanic to get the job done for you.
Many providers can offer you a deal, but not every device will be a good fit for what you need. We can help you decide which features are best for you and what you need based on your business size and what vehicles you have.
Use our free quote tool to find your device. We compare self-install, basic and advanced speed tracking device options to get your best fit.
