GE Capital Fleet Services announced $191 million in identified customer cost savings for the first half of 2013, with program enhancements cited as the leading area for savings. By analyzing customer fleet data, GE Capital highlights areas for cost savings and increased productivity and has identified more than $1.6 billion in potential savings opportunities for customers since 2008.
“We are in constant communication with our fleet customers to identify areas where they can realize cost savings and make productivity improvements,” said Steve Jastrow, Strategic Consulting Services Manager at GE Capital Fleet Services. “Streamlining routine, but critical processes, continues to be an important component of cost savings plans. Utilizing programs to cut down the time and cost burden surrounding violation expenses, for example, has proven beneficial for fleet managers.”
The largest areas of cost savings identified by GE Capital Fleet Services during the first half of 2013 include:
- Program Enhancements: Utilizing programs to properly manage time and expenses including; maintenance, fuel, accident and safety costs, telematics, licensing and registration fees, and toll & violation expenses.
- Vehicle Replacement Analytics: Determining the optimal time to cycle vehicles in a fleet to reduce maintenance and fuel costs and to decrease overall fleet depreciation.
- Vehicle Selection: Ensuring a fleet has the best vehicles to meet their company’s specific needs.
- Lease Versus Reimbursement: Identifying cost-cutting opportunities to convert companies’ driver reimbursement programs into vehicle leasing programs.
- Lease Versus Purchase: Determining whether leasing or owning vehicles is the most cost efficient way to manage a specific company’s fleet.
“One of our top priorities is to identify time and cost savings solutions for fleet managers so that they can focus on the day-to-day operations of their fleet,” said Ken Johnson, Managing Director, Strategic Consulting and Fleet Management Solutions at GE Capital Fleet Services. “We strive to make sure our customers have the best knowledge and resources to enable an optimal return on their fleet investment.”
GE Capital Fleet Services has recently unveiled several new products and services to help customers realize savings and safety goals, including:
- Driver Accountability, a violation management solution;
- An agreement with Mobileye to provide customers with access to the collision-avoidance system;
- A safety-recall reporting system built through a partnership with Carfax.
Fleet managers also have access to GE Capital Fleet Services’ award-winning customer call center and expert consultants to help identify additional opportunities for cost savings.