The International Accounting Standards Board (IASB) and the Financial Standards Accounting Board (FASB) recently issued new accounting standards related to lease assets. For public companies following FASB standards, the effective date for implementation is for the fiscal year beginning on or after Dec. 15, 2018. For all other companies, the effective date of the FASB standard will be for the fiscal year beginning on or after Dec. 15, 2019.
2017 Fleet Management Technology Report The Current State and Experiences of the Fleet Management and Telematics Marketplace
The Telematics industry continues to grow as commercial fleets are adopting the technology at a steady rate. Fleets across all industries are finding that Telematics is providing insight they never had before which helps them reduce costs, reduce risk and increase revenue. Continue »
Fleet Managers across the country are quickly turning to GPS tracking software for all of the benefits the technology offers, but many of them don’t know how to introduce the program to their employees. Continue »
Sometimes, renting equipment makes perfect sense. In this still-tight credit environment, some lenders aren’t willing to finance a large piece of equipment, or an outright purchase might not add up financially if the equipment is only needed for a short duration. For contractors on a budget, rental companies usually have the latest models in their inventories, a luxury that is out of reach for many smaller firms. Plus, renting equipment is convenient, with the duty of maintenance, setup and transportation being someone else’s problem.
Use Mileage Tracking Apps to Save More at Tax Time Apps Can Help Construction Contractors Take Full Advantage of Mileage Deductions
Contractors drive an average of 75 miles every day, according to a recent study by The Aberdeen Group. Those miles equate to more than $10,000 in tax write-offs each year However, the vast majority of miles go unreported and dollars are never claimed due to lack of awareness or failure to use tracking technology.
It has taken some time, but the construction industry is finally experiencing the benefits of using e-commerce to buy, sell and rent used and surplus equipment and materials. The old days of a construction project manager working the phone with a broker or intermediary to source or dispose of supplies are over. E-commerce, and its use through mobile tablets and smartphones, has radically changed the process, thereby increasing the speed of transactions, lowering costs, reducing project timelines—and even improving the planet’s carbon footprint.
Building a positive brand image is incredibly important to every business because it is how your customers recognize and remember you. The way your brand is perceived will determine the tone that your brand is talked about within the community. Along with building a brand that is positive and recognizable, you also need to protect your fleet from being recognized for the wrong reasons. Continue »
There is a common misconception that vehicle-installed and cell phone GPS tracking systems are practically the same technology, but they are actually very different. There are many GPS-enabled applications, like field service and workforce management software, that use GPS data from cell phones as their main source of location information. It is important to recognize that cell phone tracking information is not the same as what you will receive from vehicle-installed GPS tracking devices. Continue »
There’s nothing worse than investing money into a Telematics solution only to find out later that it is not what you expected. There are many variables to consider when choosing the best Telematics solution for your business. Some variables you expect, but it is the unexpected ones that can wind up costing you big money and causing headaches. Continue »
Overall, confidence in the equipment finance market is 73.4, an increase from the December index of 67.5, according to the Equipment Leasing & Finance Foundation’s January 2017 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). January marks the highest index since the MCI was launched in May 2009 to track recovery after the 2008 downturn.
OSHA to Increase Crane and Derrick Operator Requirements Construction Contractors Must Prepare and Train Employees Now on Safe Equipment Operation
This time next year, OSHA’s new certification requirements for crane operators goes into effect. The new requirements revise the current Cranes and Derricks Standard to detail work practices and qualifications necessary for employees to safely use cranes and derricks, according to OSHA.