{"id":9440,"date":"2021-12-16T20:07:00","date_gmt":"2021-12-17T01:07:00","guid":{"rendered":"https:\/\/uk.holman.com\/uk\/?post_type=post&#038;p=8183"},"modified":"2024-01-11T10:09:49","modified_gmt":"2024-01-11T15:09:49","slug":"best-practices-for-protecting-finances-and-budgets-in-2022","status":"publish","type":"post","link":"https:\/\/uk.holman.com\/uk\/resources\/best-practices-for-protecting-finances-and-budgets-in-2022\/","title":{"rendered":"Best Practices For Protecting Finances and Budgets In 2022"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>\t\t\n\t<section class=\"header-variation-section white\">\n\t<div class=''><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav><\/div>\n\t\t<div class=\"variation-inner\">\n\t\t\t<div class=\"header-left\">\n\t\t\t\t<div class=\"header-left-inner\">\n\t\t\t\t\t<h5 class=\"headline-5\"><\/h5>\n\t\t\t\t\t<h1 class=\"page-title headline-1\">Best Practices For Protecting Finances and Budgets In 2022<\/h1>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"body-1\"><p>Holman Marketing<br \/>\nDecember 16, 2021<\/p>\n<\/div>\n\t\t\t\t\t\t\t\t\t\t<div style=\"width:70%;display:flex;justify-content:space-between;flex-wrap:wrap;\">\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"header-right\">\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" class=\"header-right-image-one\" src=\"https:\/\/uk.holman.com\/uk\/wp-content\/uploads\/2022\/09\/BestPractice_2022Budget_FEATURE.png\" alt=\"A calculator on top of papers\" >\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t<style>#holform-sub{margin-bottom: 0px !important;}<\/style>\n<style type=\"text\/css\">\n\t.header-variation-section .variation-inner .header-right{flex-basis:50%;}\n\t.header-variation-section .variation-inner .header-left{flex-basis:50%;}\n\t.noscroll{overflow:hidden !important;overflow-y:hidden !important;}\n#form-success, .form-success{height:100%;width:100%;display:none;}\n#success-container{display:flex;flex-direction:column;justify-content:center; margin:0 auto;text-align:center;height:100%;padding:40px;}\n#success-container a{font-weight:500;font-size:12px;color:#0069a7;margin:62px auto 0;text-decoration:none;border-bottom:2px solid #0069a7;}\n#success-container h2{margin:8px auto;color:#0069a7;font-size:24px;font-weight:500;}\n#success-container p{margin:8px auto;font-size:14px;font-weight:400;}\n#success-icon{max-width:60px;margin:0 auto;}\n.wpcf7 .wpcf7-spinner{display:none;}\n\t.noscroll{overflow:hidden !important;overflow-y:hidden !important;}\n\t.btn1.ghost{background-color:white;color:#0069A7;border:1px solid #0069A7;}\n\t.header-variation-section .video-box video-js{height:100%;}\n\n\t\t.btn1\n\t\t{\n\t\t\tbackground-color: #0069A7;\n\t\t\tbox-shadow: 0px 14px 23px rgba(0,0,0,0.08);\n\t\t}\n\n\t\t.btn1:hover\n\t\t{\n\t\t\tbackground-color: #2C9942 !important;\n\t\t\tcolor:white;\n\t\t}\n\n\t\t.btn2\n\t\t{\n\t\t\t background-color: transparent !important;\n\n\t\t\t color: #0069A7 !important; border: 2px solid #0069A7; \n\t\t}\n\n\t\t.btn2:hover\n\t\t{\n\t\t\t background-color: transparent !important;\n\t\t\t\/*background-color: #2C9942 !important;*\/\n\t\t\t color: #2C9942 !important;\n\t\t\tborder: 2px solid #2C9942; \n\t\t}\n\n\/* .header-variation-section .vjs-poster{background-size:cover;} *\/\n.header-variation-section .vjs-tech {\n  position:relative;height:auto;\\;\n}\n\/* .header-variation-section .video-js{\n\tdisplay:contents !important;\n} *\/\n.header-variation-section .video-js .vjs-control-bar{padding-left:45px;}\n\t\t.btn1\n\t\t{\n\t\t\tbackground-color: #0069A7 !important;\n\t\t}\n\t\t.btn1:first-child{margin-left:0;}\n\t\t.btn{box-shadow: 0px 14px 23px rgba(0,0,0,0.08);}\n\t\t\n.btn.ghost{background-color:white !important;border:1px solid #0069A7;color:#0069A7 !important;}\n.btn:hover{background-color:#2C9941 !important; color:white !important; border:none !important}\n.ghost:hover{background-color:#2C9941 !important; color:white !important; border:none !important}\n\/* .header-variation-section .variation-inner .header-right .cloudflare-video{height:61% !important;} *\/\n.header-variation-section .variation-inner .header-right:has(.cloudflare-video){margin-top:auto;margin-bottom:auto;}\n\n\t\t@media (max-width: 575px)\n\t\t{\n\t\t\t.header-right{flex-basis:98% !important;margin:0 auto;}\n\t\t\t.btn1 {width: 100% !important; margin-top: 20px !important;}\n\t\t\t.btn2{margin-left:0px !important; width: 100% !important; margin-top: 20px !important;}\n\t\t\t.header-variation-section .variation-inner .header-right{flex-basis:100%;}\n\t.header-variation-section .variation-inner .header-left{flex-basis:100%;}\n\t\t}\n\n\t<\/style>\n\t<\/section>\n\t\n\n\n\n    <section class=\"wysiwyg\" id=\"\">\n        <div class='inner'>\n            <p>When the vehicle supply chain is tumultuous and vehicle availability is severely limited, you gain a greater appreciation for the vehicles you do have in service. More than ever, you see them as an investment that is vital for delivering your company\u2019s core goods and services.<\/p>\n<p>Suddenly you see more clearly how driver behaviour puts wear and tear on your vehicles and how we must maintain vehicle performance. Increased operating expenses (maintenance, parts, fuel, etc.) from vehicles kept in service longer than is optimal could cut into the capital on hand once new vehicles begin coming off the production lines more regularly.<\/p>\n<p>Now\u2019s the time to work in more cost control best practices throughout the vehicle lifecycle: buy, drive, service, sell. This checklist will help.<\/p>\n<h3>Buy<\/h3>\n<p>Ensure your current <a href=\"https:\/\/uk.holman.com\/uk\/funding\/\">funding options<\/a> best match your company\u2019s strategic and tactical goals, and be sure to examine those options in conjunction with market fluctuations.<\/p>\n<p>By aligning your lease terms with your cost analysis and replacement strategy, you can reduce the financial burden on annual capital expenditure budgets.<\/p>\n<p>Control acquisition costs by right-sizing your fleet to your business needs. Best case scenario: you can buy and spec vehicles to suit the job requirements. You may need to flex more on models and trim options based on availability during supply chain shortages.<\/p>\n<p>Choose models and specs projected to return maximum resale values and reduce your total cost of ownership.<\/p>\n<h3>Drive<\/h3>\n<p>Implementing <a href=\"https:\/\/uk.holman.com\/uk\/fleet-management\/technology\/\">telematics technology<\/a>, so the integrated data contributes to a more thorough analysis of driver behaviour and vehicle performance will identify actionable opportunities to control and lower operating costs relative to maintenance, fuel, and accidents.<\/p>\n<p>Use telematics to validate your electric vehicle decision making, which includes determining the right kind of EV for your fleet plus budgeting for infrastructure needs.<\/p>\n<p>Monitor driver behaviour and proactively assign targeted training to prevent vehicle accidents, higher repair costs, increased downtime, and potential liability issues.<\/p>\n<p>If your risk mitigation strategy has shown a reduction in accident rates and liability costs, don\u2019t hesitate to ask your insurance company to lower your rates.<\/p>\n<h3>Service<\/h3>\n<p>Track fuel efficiency rather than fuel costs. Pinpointing driver behaviour and vehicle productivity is still your best strategy for monitoring and controlling your fuel spending as prices increase steadily.<\/p>\n<p>Continue to evaluate preventive maintenance schedules compared to operating costs. Make adjustments based on current usage if vehicles are kept in service past expected replacement dates.<\/p>\n<p>Delays with new vehicle deliveries and licensing requirements contribute to lost productivity and revenue. Keep a broader view of operations by tracking status and exceptions.<\/p>\n<p>Vehicles off the road for maintenance and repairs aren\u2019t just raising operating costs. Soft costs like lost work and revenue also significantly impact your entire organisation. Use proactive analysis and actionable findings to reduce downtime.<\/p>\n<h3>Sell<\/h3>\n<p>Remember that while used vehicles may have reached their end game with you, they may still hold value to a potential buyer. Find the right market to reach that buyer.<\/p>\n<p>Plan a consistent annual replacement cycle. Predictable capital forecasting helps your finance team align the fleet budget with their needs for improved cash flow, faster growth and competitive advantage \u2013 which also increases the odds they\u2019ll favour your request.<\/p>\n<p>Consider options such as refinancing existing leases, increasing amortisation terms, or tapping into the potential equity in existing vehicles to generate capital from your current fleet.<\/p>\n<p>Your fleet is an investment. Implementing best practices that manage your fleet holistically will get you through challenging times more smoothly.<\/p>\n<p>Stay up to date on automotive and supply chain industry developments and setbacks. Subscribe to the Morning Brake newsletter.<\/p>\n<p><a href=\"https:\/\/uk.holman.com\/uk\/about-us\/contact-us\/\">Contact us<\/a> to understand how you can better control all aspects of your fleet.<\/p>\n        <\/div>\n    <\/section>\n\n\n\n\n\n\n\n\n\n\n\t\t\t<section class=\"content-feature-three\" id=\"\">\n\t\t\t<div class=\"inner\">\n\t\t\t\t<div class=\"feature-imgbox-mobile\"><img decoding=\"async\" src=\"\" alt=\"\" \/><\/div>\n\t\t\t\t<div class=\"content-feature-sec\">\n\t\t\t\t\t<div class=\"content-feature-content\">\n\t\t\t\t\t\t<div class=\"headline-4\"><\/div>\n\t\t\t\t\t\t<div class=\"feature-imgbox\"><img decoding=\"async\" src=\"\" alt=\"\" \/><\/div>\n\t\t\t\t\t\t<div class=\"feature-btn\">\n\t\t\t\t\t\t\t<a class=\"btn\" href=\"\" download=\"\">\n\t\t\t\t\t\t\t\t<span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\t\n\t\t\t\t\t\t\t\t<span>\n\t\t\t\t\t\t\t\t\t<img decoding=\"async\" class=\"icon\" src=\"https:\/\/uk.holman.com\/uk\/wp-content\/themes\/holman\/assets\/images\/white-download.svg\" \/>\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\n\n\n\n\n\n","protected":false},"excerpt":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>","protected":false},"author":5,"featured_media":8175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[131,136],"tags":[102,119,120],"blog-type":[91],"featured":[90],"legacy":[99],"topic":[],"class_list":["post-9440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fleet-management","category-funding","tag-blogs","tag-business-management","tag-lifecycle-optimization","blog-type-blog","featured-no","legacy-yes"],"acf":[],"permalink_manager":null,"_links":{"self":[{"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/posts\/9440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/comments?post=9440"}],"version-history":[{"count":3,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/posts\/9440\/revisions"}],"predecessor-version":[{"id":17009,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/posts\/9440\/revisions\/17009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/media\/8175"}],"wp:attachment":[{"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/media?parent=9440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/categories?post=9440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/tags?post=9440"},{"taxonomy":"blog-type","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/blog-type?post=9440"},{"taxonomy":"featured","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/featured?post=9440"},{"taxonomy":"legacy","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/legacy?post=9440"},{"taxonomy":"topic","embeddable":true,"href":"https:\/\/uk.holman.com\/uk\/wp-json\/wp\/v2\/topic?post=9440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}