Your company’s fleet would not be able to operate without safety, fuel, and maintenance programs. You would also never think to eliminate your remarketing program. In today’s business landscape, asset management is just as critical to your fleet’s success. The first step to optimizing your fleet program is knowing the total amount you are spending per asset or your total cost of ownership (TCO). Getting to your TCO can be difficult unless you have a high-quality, customized, data-driven asset management program.

Asset management programs use data integration to help fleet managers organize and automate processes in their workflow, make informed decisions, and operate at peak efficiency. The best program will use a single solution to integrate all your asset-related data including maintenance management, fuel management, vehicle inspections, miscellaneous operating costs, asset utilization and asset performance. This will provide a full picture of your assets, helping you identify opportunities for cost savings.

When building your asset management program, it is important to choose technology that provides the ability to integrate multiple sources, as well as an intuitive interface and a dynamic reporting tool. By choosing a solution that collects and interprets data from all your existing sources and allows you to define your own KPIs, you will be able to make smarter asset management decisions. The best asset management solutions connect the dots across all the spend areas associated with a particular asset. This provides a strong foundation for interpreting the data and making cost-saving optimizations. With the rise of data visualization and mobile dashboards, asset metrics are more accessible than ever.

At Onward, we use a single integrated platform to provide clients with accessible asset management analytics. After we answer what you are really spending per asset, we leverage our diverse partnerships, programs and best practices to turn opportunities into quantifiable value.