The case for switching to digital accounting

Should the paperwork of fleet operations be... paper? Where do you stand on digital accounting systems? Let's dig into the issue as we buckle up for today's edition of The Inside Lane.ย 

The case for switching to digital accounting

Should the paperwork of fleet operations be... paper? Where do you stand on digital accounting systems? Let's dig into the issue as we buckle up for today's edition of The Inside Lane. 

Inside today's newsletter

โž•The switch to digital invoicing
๐Ÿšš Rumored Flexport layoffs
๐Ÿ“ˆ FMCSA's proposed rules
๐Ÿ›ฃ๏ธ Love's pit stop upgrades
๐Ÿš˜ Tesla's Autopilot update

Is paper invoicing holding your fleet business back?

With most experts predicting a tough year for trucking in 2024, moving away from labor-intensive, paper-based accounting could help unlock efficiencies that help your fleet thrive.

How does digital accounting control costs? Fleet expenses are varied and inherently complicated to manage. A digital accounts payable system could help manage those payments in a single location - from fuel and wages to maintenance, repairs, and invoices. It can also reduce the risk of duplication, mistakes, and invoices getting lost, all of which affect your reputation with clients and suppliers.

What else can automation offer a fleet? There are direct and indirect benefits for fleets. Automation reduces the need for employees to get tied up in manual data entry and analysis, and itโ€™s more scalable than paper-based processes. It also offers new levels of visibility - identifying trends in fuel consumption, parts wear-and-tear, and other inefficiencies that might otherwise go unnoticed.

Learn more about digital accounting at CCJ Digital.

๐Ÿ™‚ GOOD DAY

Gas prices have fallen 38 cents per gallon since last January, to a national average of $3.10. Wyoming has the cheapest gas, at $2.63 per gallon, while the lowest diesel prices are in Oklahoma - at $3.38 per gallon compared to $3.87 nationwide average.

 Check out the stats at Automotive Fleet.

๐Ÿ™ BAD DAY:

Rumors are circulating that logistics platform Flexport is about to lay off almost 20% of its 2,600 workers, which will be the third time it has downsized since the start of 2023. The California-based startup has yet to confirm whether those rumors are true.

 Delve into the stats in Transport Topics News.

FMCSA's upcoming rules to impact fleets and speed limiters

The FMCSA has set out its rulemaking schedule for the coming months, including two controversial decisions that could affect truck fleets. The report suggests rules mandating speed limiters for trucks will be published in May, but doesnโ€™t include proposals to require more transparent record-keeping for freight brokers.
Get the latest insights on FMCSA's rulemaking schedule on Overdrive.

How well protected is your fleet from emerging cyber threats?
In an increasingly connected world, itโ€™s increasingly difficult to stay ahead of cyber criminals, but education is a great first line of defense. With scammers finding new ways to target every layer of a business, experts are warning fleets to be vigilant about emerging threats.
Find out how to stay safe from cyber threats on Fleet Owner.

Truckers oppose FMCSA's proposed 25% UCR fee increase

The Federal Motor Carrier Safety Administration (FMCSA) proposes a 25% increase in 2025 Unified Carrier Registration (UCR) fees, sparking trucker opposition. Applicable to carriers with an active U.S. DOT number, fees would vary from $46 to $44,836 based on fleet size. Truckers argue the hike is unfeasible in the tough economy and would increase consumer costs. FMCSA is accepting comments on this proposal until February 8.

Learn more about the proposed UCR fee hike at LandLine.


Have you made the switch from paper accounting to electronic? Has it helped? We'd love to hear from you.

Safe travels -

Katie Parsons

Editor, The Inside Lane