How your ELD can make you more money

ELDs have been mandated by federal law for a little over a year now, and the window is closing for every truck to have one.

Many carriers have expressed their discontent with the devices over time, citing the feeling of less flexibility over how drivers run their operations.

However, ELDs are here to stay and informed fleet managers and owner-operators can unlock many hidden benefits with them. Did you know ELDs can even help you earn more money?

Keep reading to learn how.

1. Drivers earn more today, and can get paid even faster

Many truckers said they would get out of the industry once the ELD mandate went into effect.

Upon leaving, a need grew for more carriers on the road. This new demand saw truckers getting more loads at better pay. Since June 2017, driver pay has increased between 10 to 12%, with half of truckers surveyed in National Transportation Institute’s quarterly survey getting a pay increase in 2018.  

Carriers can utilize the data on ELDs to manage payout and incentivize good driving.

Pay can be adjusted by seeing hours, activity, and efficiency to create clear compensation models. Also, fleet managers can build performance-based rewards systems for drivers with good records on safety and efficiency.

Shipwell takes the perceived burden some carriers see in ELDs and turns it into an amazing opportunity to earn more money fast.  

By integrating your ELD with Shipwell, drivers receive payment in 72 hours with Quick Pay with no additional cost to carriers after receiving proof of deliver.

2. Benchmark your pricing to identify missed revenue opportunities

ELDs hold so much detailed data that when you partner with Shipwell, we’ll help make sense of it all.

With an ELD integration with Shipwell, you’ll get actionable analytics on what you could have made that week or month on the lanes you run. We’ll show you how much you made per mile compared to DAT and other load boards to help you earn more money on future runs.

Sign up here to get started making more money!

3. ELDs help build your reputation

ELDs give you the opportunity to showcase a great driving record and accrue more loads. For instance, owner-operators can get contracted by carrier companies on a regular basis. Because of the hours of service (HOS) restriction, companies have reached out to owner-operators frequently to source capacity.

ELDs track how safely truckers drive. Having an exceptional safety score is notable for brokers looking for consistently responsible drivers to work with.

Allowing the shipment to be tracked will attract more shippers to regularly choose those carriers. Best of all, ELD-tracked shipments mean less check calls for drivers!

4. ELDs help uncover costly dwell time

Research at the Department of Energy says that the trucking industry wasted 6 billion gallons of fuel due to idling. Not only does this affect carrier revenue, but the emissions harm the environment.

Shipwell has integrated with top ELD providers that have features to track idle (or dwell) time. From filling out driver logs to spending too much time at a stop, carriers could be wasting valuable time. By shaving off 10 minutes of idle time a day, truckers can drive around 238 additional miles a month, adding to the bottom line. Numbers like this can rack up for fleet managers monitoring several trucks, resulting in huge company savings.

The Department of Transportation says detention time disputes cost carriers between $250.6 million and $302.9 million annually. ELDs have GPS tracking and monitor trucks arrival to destinations. As a result, carriers are in a better position to win detention time disputes.

5. ELDs help save drivers time (and time is money)

Shipwell has integrated with most of the top ELD providers to help automate workflows for carriers. From fleet management to booking loads, carriers will save time spent on the phone or computer and more time on the road.

With Shipwell’s newest dock scheduling feature, carriers can avoid delays by automatically setting appointments.

Plus, drivers who integrate their ELD don’t send nearly as many daily truck logs to Shipwell (compared to other brokers they work with).

We’ll get all the info we need on our end with the ELD data so you can get back on the road as fast as possible.

Because hours of service are limited, truckers can better schedule equipment maintenance. As a result, drivers save money on expensive breakdowns and unforeseen issues. A smooth running truck means a happy driver.

Rather than stress over new regulations, carriers can utilize new freight tech to make more money. By integrating your ELD with Shipwell, you will maximize your income and optimize your hours of service.

6. Shippers can find your trucks based on location, getting you more loads

ELDs capture critical geolocation data on a truck’s location at any time. When you hook up your ELD with Shipwell, this means shippers can push loads to you based on your fleet’s location.

When shippers have high-priority, last-minute pickups needed in their area, it will be the carriers who they know are in the area that win.

Does this all sound good to you? Carriers can tell us what ELD they use on this page to begin hooking up their ELD with Shipwell.

In return, you’ll get the information you need to make more money in 2019 in the smartest way possible.