Though building a safety solution may seem like the best way to reduce your fleet’s liability in the wake of rising Nuclear Verdicts, you need to understand the true cost of this endeavor before proceeding.
As an example, let’s say a fleet wants to build a solution that would consolidate their pre-hire and onboarding processes into one platform, a task that solutions like Safety Suite® currently do.
The Hidden Costs: What Most Fleets Forget About
1. Time to Go-Live
Everyday you don’t have a safety solution in place is a day your fleet is at-risk for a Nuclear Verdict, meaning your fleet needs a solution now. The estimated time to go-live for building a software solution is anywhere from 9 months to multiple years, while the time to go-live for Safety Suite is anywhere from 2.5 to 5 months.
You’ll need to retain some of your build team for regular maintenance, and potentially the full team if you want to roll out regular updates. Software like Safety Suite, however, is updated regularly at no additional cost.
Recruiting software engineers is a wholly different task than recruiting drivers, and you’ll likely need to employ an outside recruiting firm to get it done. In doing so, you’ll be competing with tech companies and Fortune 500 organizations. Additionally, you’ll need to put time into getting software engineers on board with the mission of your fleet, which necessitates extra expenses.
4. Continuous Development
When you build your own safety solution, you have to pay additional fees for each new feature you add. With pre-built software, updates are delivered to you automatically and for free, meaning the value of the product grows exponentially over time while the cost remains the same for the life of your contract.
Does Your Fleet Have What it Takes to Be a Software Company?
If you’re not sure you can absorb all the costs above, which only apply to building a relatively small safety solution, you may want to leave the software development to dedicated trucking technology companies.
Because your fleet still needs a solution, you should consider investing in Safety Suite. Safety Suite integrates all your fleet systems and uses AI and machine learning models to analyze your driver data. Safety Suite then informs managers which of your drivers are at-risk, why they’re at-risk, and recommends training to address their specific needs. This reduces your liability by showing you where your fleet’s risk lies and documenting the steps you took to address it.
If you’d like to learn more about reducing liability through safety, watch a 2-minute demo on Safety Suite here.