New innovative fleet management solution will reduce transportation costs

New innovative fleet management solution will reduce transportation costs

- FLEETEK a custom-built fleet management solution developed by HITEK, to provide transport fleet managers with an innovative, sustainable and cost-effective way to address logistical issues

Leading UAE-based IT smart Facilities Management (FM) solutions company HITEK Services, which is part of the Farnek group of companies, has launched an innovative in-house digital solution, that can optimise the performance of company transport fleets.

The smart fleet solution, appropriately called FLEETEK, was developed by HITEK’s in-house technology team and has been launched in the wake of November’s 9% rise in the cost of petrol announced by the UAE’s fuel price committee, which links domestic petrol prices to movements in global oil prices.

“The price of Brent Crude has risen by over 10% this year, from $77 a barrel in January to $85 yesterday (23 November), with an average year-to-date price of $103. However, according to Reuters, a survey of 42 economists and analysts on 31 October 2022, forecast benchmark Brent Crude would average $95 in 2023.

“This will offer some respite for fleet managers, but with hundreds of vehicles, travelling thousands of kilometres a day, fuel remains a major expense and that is on top of rising interest rates and other inflationary pressures on leasing costs,