LEX Autolease says its Fleet Benchmarking service has saved its customers over £1.5m since launching the service in February this year.
The service is available to the leasing company’s customers that run in excess of 500 vehicles.
It draws on data from Lex Autolease’s fleet of almost 390,000 vehicles. The tool helps identify cost and operational efficiencies, how to enhance driver benefits and steps to improve duty of care focus.
Fleets can be benchmarked anonymously against others in the same sector or against a business of a similar size to view like-for-like comparisons across all measurable activities. Lex Autolease says it ensures short-term competitiveness and can provide the foundations for long-term fleet improvements.
Andy Barrell, Head of Business Development at Lex Autolease, commented:
“Companies are keen to understand how their fleets are performing from operational, risk and cost perspectives but until recently, all they’ve had to go on is their own data from previous years.
“Now, fleets can benchmark their performance against our entire corporate customer base, drawing on competitor insights and industry best practice to drive policy change and development.”
“For example, the fleet manager at a mid-sized utilities firm can benchmark their own fleet against other utilities providers, similar-sized companies in other sectors or fleets identified by us as best practice examples. These comparisons can highlight important areas to develop and provide a yardstick for measuring fleet improvements.”
Lex Autolease points out that Fleet Benchmarking has helped to:
- Lowering emissions, amending mileage rates and restricting engine capacity to save £1.4m for a major retailer;
- Improvements to the management of accidents, motor offences and driver recharge to save £820k for a healthcare provider;
- Simplifying the choice list, introducing electric vans and improving the management of end-of-contract damage charges to save £89k for a transport contractor.
Barrell continued: “The global automotive industry is going through a transformative period and fleets are under increasing pressure to cut costs and reduce emissions. Adding an extra layer of insight to the decision-making process is proving invaluable, especially for customers trying to establish whether to start the transition towards alternative fuels.
“Looking ahead to another year of technological and legislative change, data will continue to underpin the work that we do in making sure our customers’ fleets are not only fit for purpose, but fit for the future.”