The vast majority (85%) of fleet departments are facing increased pressure from board level execs to make spending cuts, new research has revealed.

Latest solutions that can unleash efficiency improvements through fleet management insights are taking centre stage

The study by Bridgestone and Webfleet found more than a quarter (27%) expect their businesses to contract this year. Just over half (55%) anticipate growth.

The cost of business squeeze has also made the fleet manager role increasingly important to business strategy and board level decisions; 87% of fleet decision-makers believe their role has become more dominant in business plans, shaping future developments and helping companies to protect their profit margins.

Beverley Wise, Webfleet regional director for Bridgestone Mobility Solutions, said the industry was seeing a shift to a focus on robust cost control, supported by the latest fleet solutions and their specialist abilities to identify areas for efficiency savings.

“As economic headwinds intensify endangering the competitiveness of UK plc, shrewd cost control strategies are called for to help protect profit margins,” said Wise.

“But with resources at breaking point for many businesses, innovative solutions must be found that achieves this without jeopardising productivity and service standards.

“Fleet operators are no strangers to ingenuity and digital solutions, such as advanced telematics platforms, that can unleash efficiency improvements through fleet management insights are taking centre stage.”

Fuel is the biggest target for cost savings, cited by a third (33%) of fleets, with more than two-thirds planning to introduce new fleet fuel strategies. This is closely followed by vehicle financing (29%), and drivers’ wages and overtime (28%).

Three-quarters (75%) also said they were more likely to opt for cheaper tyres on their next purchase – but Bridgestone has warned that this can prove a false economy.

David Almazan, commercial business unit director, Bridgestone North Region, explained: “There is no one-size-fits-all solution when it comes to the most cost-effective tyre choice, but upfront savings should be balanced against the performance, durability and fuel efficiency gains of premium products.”

The survey also revealed an increasing move to consolidate fleet services from suppliers; four in five survey respondents said they plan to review opportunities here.

“Significant total cost of ownership, sustainability and safety benefits, can be realised where supplier services are streamlined in a way that frees up resources and drives savings across the entire fleet operation,” added Almazan.

“Fleetcare from Bridgestone, for example, combines Webfleet with Bridgestone’s tyres and tyre management solutions, to offer a modular solution that allows businesses to cost-effectively address fleet needs from a single mobility partner.”

The full cost of business squeeze research report is available here.

The report also aligns with the Bridgestone E8 commitment and its eight values – Energy, Ecology, Efficiency, Extension, Economy, Emotion, Ease and Empowerment.