Trucking is a numbers game.
Ever tried to navigate your way to a new destination without a map?
A good sense of direction might get you close, but won’t get you to the exact spot you need to be.
Think of your business goals as a new destination. Knowing the destination is great, but you need information to help get you there, aka a map. Your map will be made up of different things, but arguably most importantly – reporting.
Reports are more than just a way to keep track of kms, fuel use and other expenditures. They are vital to your day-to-day operations and can provide you with the information and data you need to steer your decision-making to the right destination.
MyTrucking reporting is quick and simple. An efficient Transport Management Software will save you time and money on data entry and reduce double handling of job data.
We’ve put together information on the importance of reporting and how you can do custom reporting with MyTrucking.
Why do I need reporting?
Simple, knowledge is power. Reporting equips you with the information you need to track your journey from Point A to Point B. From tracking your expenses and revenue to finding out where you can make savings, to analysing statistics for a particular customer and even keeping track of your vehicle miles. All of this information can help you make informed decisions about your business and steer it in the right direction.
By tracking data in your business you can:
- Adopt the best practices
- Keep your trucks in the best condition
- Reduce idling time (for trucks and drivers!)
- Ensure you’re using the latest technology
- Keep track of spending
- Save time and money
- Increase profit.
Help you become more aware of the intricacies of your business
Tracking different elements of your business through reporting may seem daunting, but it will be the best thing you can do to ensure its success. By tracking things like business expenses, vehicles, products and customer stats, you provide yourself with a benchmark of sorts to assess what’s working, what’s not, where savings can be made, where opportunities are and where deadweight can be unloaded.
Honing in on the important figures
As the main pricing measurement for trucking is the kilometer, it is crucial that businesses understand their vehicle cost per km. It provides an easier way to match operating expenses with pricing decisions.
Travel cost per km is used to calculate the profit margin on each load, making price planning for future shipments more accurate and helping to increase profits through load planning.
It’s not just all about the dollars and cents
When we say reporting, people often automatically jump to financial reports. But you can run other reports on other data sets within your business that are vital too. View the full spectrum of trends in your business, look at vehicle maintenance schedules, and driver hours. If you collect the data you can collate a report on it.
Something as simple as running a report specific to drivers could help you optimise and save time and create changes to improve driver wellbeing and morale, and make their jobs easier.
Custom reporting with MyTrucking
Say goodbye to hundreds of spreadsheets you can never find when you want, and say hello to custom reporting.
MyTrucking was designed by truckers for truckers, so of course, we’ve got you covered for your reporting needs. Need to send a report to a subcontractor without your pricing information? Easy, create a custom report, tick the boxes you need, save it, label it, and boom, you’re done.
MyTruckings’ custom reporting feature allows you to create customised reports specific to your business that you can save and use over and over again. Easily group and filter the information you want to report on so you can get key insights into different areas of your business.
Authorised Xero add-on partner
We designed the Xero integration to make it super simple to get your invoices from MyTrucking into Xero. All required job information is captured automatically by MyTrucking as the job is being carried out. With the click of a button, all invoices are pushed through to Xero with meaningful invoice descriptions that your customers require.
GL (General Ledger) and tracking categories means you can do profit and loss reports by vehicle in your Xero. Simply add all your vehicles in Xero as tracking categories, and the vehicle will go across from MyTrucking automatically against each job, and profit and loss reports by vehicle are produced for you.
Knowing your income per km/hour is essential for every trucking business, no matter the size. And yet many small to medium businesses don’t know this information.
The EROAD-MyTrucking integration pulls the kms in at midnight each day, and automatically calculates per km and per hour rates in real-time.