Every business love cutting its costs and saving the hard-earned revenue so that the net profits for the owner or the shareholders can be high. Isn’t that why the board created this business in the first place?! The concept of ‘Spending money to save money is quite intriguing and widely accepted but only theoretically. When it comes to practicing it, businesses tend to hesitate and back out from it. What if I tell you that one, simple practice which will cost you only a little but can potentially save you thousands of dollars, is up for the grab, and back up my claims with information and hard statistics from viable sources?
Now that your interest has been piqued, let’s begin.
Table of Contents
Protection Against Fraudulent Claims
Shockingly, there’s a drawback of having an extremely strong and delivering justice system. Not directly, but unfortunately people can at time take advantage of it by using false claims and allegations. These people plan and execute these fraudulent stunts so perfectly, the act leaves behind little to no evidence that victims can use to fight the case, which results in a huge payout expense to the scam artists. Even just fighting these cases in the court of law can take up an exorbitant amount of time and money. The fee of lawyers and complicated policies of insurance companies can be very difficult to deal with without evidence. A Dashcam can easily help you completely avoid such fraudulent incidents by recording the whole thing as hard evidence that no one can question.
Prove your Innocence in an Accident
Just because your company drivers are well-trained and have been instructed to always drive responsibly and safely, doesn’t mean others will follow suit. Dangerous and less learned drivers will always be there in the traffic who either want to look cool or get somewhere fast. If one of these reckless drivers crashes into your company’s vehicle at a site with little to no witnesses, your company will automatically fall into the problem of ‘my word against his’ even though your driver was not even slightly responsible for the car crash. If the problem persists and is taken to the court to be solved, you will again have to deal with expensive lawyers and annoying insurance company claims to deal with it. Unless your vehicle had a Dash Cam installed and everything was recorded on a memory stick. Now you can present irrefutable evidence into the court and prove the innocence of your driver and get your company out of the whole mess without having to spend a single penny.
Data Collection and Driver Behavior
Once you hire the drivers and they are driving the vehicles around the city of your company, you would want to keep a tab on them to know whether they are driving responsibly or not because any type of vehicle damage, minor or major, in the end, you will be responsible for it all. Knowing the driving speed, and driver’s attitude towards others can help you keep them all in line. You can even determine if your employee is being idle for too long or using the company purchased petrol for personal use. The drivers will know that they are always under company supervision and will behave more professionally. This will regulate the speed limit, improve their behavior towards others and keep a high productivity level because they all will know that whatever happens, they will be held responsible with solid evidence.
Theft & Driver Safety
Just like your drivers will behave well and professionally under supervision, the people around will do the same. It is a known fact that the public tends to be more passive, tolerant, and especially law-abiding when their actions are being recorded. Your parked company vehicle if carrying goods could be broken into and the goods can be stolen which could cost you thousands of dollars. Or the company car can be stolen altogether which will result in a bigger expense for the business. Dash Cams help you keep a watch on your company goods and vehicle when they are vulnerable to theft. Since they are an effective deterrent against criminal activities, burglars are less likely to target your vehicles since a Dash Cam is recording them. And if that doesn’t stop them and your vehicle and/or goods are stolen still, you will have all the evidence you need to get everything back in a short period. Depending on the quality and number of cameras installed in your vehicle, the thieves could possibly be caught just the next day since newer models come with a GPS locater installed. So, be sure not feel cheap when buying them because this one expense could save you thousands in the future!
The Statistics
According to a detailed study carried out by BLACKVUE, the results of installing a Dash Cam have proved to be extremely profitable to companies. Here is the data:
- Improved driver behavior (65.9%)
Increased fuel savings (58.5%)
Improved driver safety (46.3%)
Reduced emissions (29.3%)
Shorter delivery time (26.4%)
Reduced maintenance costs (19.5%)
Improved scheduling of routes ($200k per year)
Minimizing stopping times ($350k per year)
Reducing unproductive driver behavior ($600k per year)
Removal of underutilized vehicles ($2.8 million per year)
The Lesson so far…
By now as a business-minded person, you should have grasped the excellent opportunity you have been presented with especially if your company relies heavily on automobiles to carry out the operations. This small expenditure can truly save you from a journey that could cost you so much more and not just in terms of money, but time as well. Not falling victim to fraudulent claims and your company cars being driven responsibly around the town will also ensure that such incidents don’t tarnish your brand image, which is invaluable to the goodwill of the company. At this point, there’s no reason for you not to get your vehicles equipped with a Dash Cam!
