Written by Angelica Reeves on August 09, 2019
A recent TomTom Telematics survey revealed that almost half of fleet management decision-makers agreed that paperwork, especially invoicing and quoting, takes up too much of their time. Core business processes also rely on accurate documentation, which includes purchasing documents such as, fuel receipts, tire changes, accident tickets, and repairs. On top of that, there is the implementation of new global regulations, like the International Accounting Standard Board and the Worldwide Harmonised Light-Duty Vehicles Test Procedure, both of which affect fleet companies in Europe and across the globe. As the supply chain and logistics industry continue to go digital, document management software (DMS) for fleet companies is a management solution that is becoming more and more imperative.
DMS provides a central repository for all fleet management paperwork, including emails and logs. Not only does this reduce the amount of paper a fleet company uses, but it also has many other benefits.
Reduce risks of document loss. A single unpreventable accident like a fire can cripple your fleet management systems if you do not shift to a digital data system. Computer files can be stored on a cloud network or in multiple locations, which means that the risk of losing them is much smaller.
Optimize cost in time and money. Deploying a DMS lessens overhead costs in terms of storage, printers, document delivery services, and insurance. French fleet management company Arval noted on their site that administering documents takes up 31.4% of an employees’ time, which in turn costs up to €13,600 per employee annually.
Data at your disposal. Digitized and secured documents can also be accessible anywhere. This enables your business to scale and grow based on in-demand data that can be aggregated in a matter of seconds. Advanced DMS can also significantly improve your customer relations as client walkthroughs and reports can be retrieved immediately. Alphabet’s Chief Executive Nick Brownrigg notes that their shift to digital helped the fleet company “overcome some of the hurdles such as internal workflow for response times and reports for larger customers with better data analytics”.
In an article written by Mario Zules for OpenKM news, he states that the move towards a paperless office also leads to streamlining business processes. With the right DMS, employees can review, delegate, authorize, and transfer information at a click of a button. This is currently being widely implemented by British fleet companies. Verizon Connect details how job forms can be customized for each worker, which improves how each delivery is carried out, as drivers can complete them on the go. Not only does it reduce the amount of paperwork a company uses but also the time drivers spend behind the wheel. A good example of how a DMS, integrated with a fleet management software program, can speed up every aspect of a fleet company.
Automation and artificial intelligence are also being developed so that it can be integrated into DMS nowadays. Estimated to grow up to €2.6 billion in Europe by 2030, AI in transportation and fleet management is making huge strides in innovation. TT News reports that natural image processing and predictive analytics are the two most pertinent AI applications in DMS. With image processing, a driver can now send a photo of a traffic ticket, and AI can file and automate its documentation. Fleet tracking can then add a geolocation tag to the documentation, increasing transparency. What’s more, is the capability of AI-powered DMS to analyze and suggest courses of action. This is from learning patterns found in paperwork such as flagging counter-productivity, risk, and accident-prone vehicles and personnel, and faulty GPS fleet tracking.
As fleet management becomes more complex with trends shifting to financing and remarketing in fleet management companies, a great DMS like OpenKM ensures that a company is able to scale when they need to.
Author Bio: Angelica Reeves is a senior logistics consultant born and raised in Barcelona. Angelica is constantly chasing the next big disruption in the industry. On her free days, she watches theatre plays with her two lovely daughters.
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