Home: ELD Answers: ELDs Improve Fleet Profitability

Can ELDs Increase My Profits?

With some technologies, the investment is repaid many times over in increased productivity and decreased operating expenses.

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The right ELDs for your business can help boost profitability. They can reliably cut day-to-day administrative costs, prevent catastrophic accidents and crippling HOS violation-related fines.

Lower administrative overhead
With no more need to transcribe or store large amounts of paper, commercial operations can reduce administrative costs and physical space to file these documents. Drivers won't have to spend additional time filling out paper logs and faxing them back to the office.

Accuracy that’s right on the money
With the data captured automatically, there’s less chance for the kind of mistakes that appear in even the best handwritten records. That means getting back the time otherwise lost in revisiting those records and having to file corrections.

Savings in safety
Estimates based on an FMCSA study put the average cost of just one CMV accident (that cause serious injury) at more than $300,000 and one associated with a fatality at $7.9 million. In either of those scenarios, a carrier's insurance foots the bill but the spike in insurance premiums can be detrimental to a business. Drivers with ELDs have been shown to drive better.

Reduced HOS violations
Hours-of-service fines are one of the biggest expenses racked by CMV carriers. They end up affecting the driver and the company. A technology that keeps those violations from happening is going to deliver large dividends.

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