Standard Bank’s ECO2Fleet – Reducing Operation Costs and Carbon Emissions for Fleet Managers

Modern-day fleet managers are constantly looking for ways to procure operational costs of the business’s vehicles in order to save the company money spent on fuel – especially with the drastic petrol hikes in South Africa, which has seemingly become a norm in 2022, and may be an economic crisis for many businesses in the future.

However, Standard Bank, and its new ECO2Fleet web-based tool, enables fleet managers to do more than just that. The ECO2Fleet system also allows fleet managers to reduce the fleet’s carbon footprint. With sustainability being a popular trend in many aspects of business, the ECO2Fleet system is ideal for fleet managers who work within a company that deploys an integrated approach in managing business finance and reducing the business’s carbon footprint – thus, reducing its impact on the environment. It is an all-round win-win situation for the fleet department, as it will be reducing its environmental impacts and operating costs. According to an article by Arrive Alive (2014), a company such as Babcock South Africa – which uses ECO2Fleet for examining fleet vehicle emission levels and “model how fleet costs would increase if various levels of taxation were applied” – is a typical example of a company that is optimally utilising fleet sustainable technologies, such as the ECO2Fleet. This web-based tool also enabled Babcock South Africa to apply ratings to vehicle types, their emission levels and fuel consumption. This would generally enable any fleet manager to address hefty costs involved in the company’s driving habits and can also be used to influence company driver’s to adopt “cleaner” driving habits.

Joanne Tucker (2021) states that there are several main benefits that accompany fleet sustainability and the integration of a web-based tool for fleet managers, such as ECO2Fleet by Standard Bank, for improving driving practices and, in turn, reducing the fleet’s carbon footprint. These benefits include:

• Fleet department compliance with any current and potential emissions regulations.

• The drastic reduction of vehicle maintenance costs and overall operating costs.

• Consuming less fuel, which will result in less money spent on purchasing petrol, diesel, or oil for the organisation’s vehicles, or a reduction in the contract-based costs payable, which are stipulated in legal contracts between the company and fuel producers or suppliers.

The General Benefits of Standard Bank’s ECO2Fleet

• ECO2Fleet allows fleet managers to achieve a status of “reduced-carbon” through better management of the environmental impact and carbon emissions.

• Fleet managers can easily access and analyse data on the web-based tool once various eco-friendly fleet systems are implemented.

• ECO2Fleet enables fleet managers to monitor vehicle performance 24/7.

• ECO2Fleet provides efficient carbon-cutting data.

It is evident that there are a variety of benefits that accompany the decision to adopt a fleet sustainability tool, such as ECO2Fleet. Thus, making it a noteworthy technology for fleet managers from different types of companies with a small or large number of fleet vehicles. To find out more about Standard Bank’s ECO2Fleet, visit www.standardbank.co.za.