Failing to invest in fleet technology could waste 20% in fleet costs

Nexus Vehicle Rental is suggesting that failure to invest in the right fleet technology results in fleets spending up to 20% more on running costs.

The findings follow recent Trade Union Congress (TUC) research which shows Britain ranks among the worst for investment in new technology in the developed world and is last out of 34 members of the Organisation for Economic Cooperation and Development (OECD) for spending on transport equipment.

Nexus conducted the analysis across its 870 customers and found that average savings on daily rental of up to 20% are being made through functions within its online rental booking and management system, IRIS, such as identifying under-utilised vehicles costing the company money and the availability of real-time management information.

David Brennan, CEO at Nexus, said: “With the cost of motoring expected to continue to increase against the backdrop of economic uncertainty it’s now more important than ever for businesses to be operating as efficiently as they can, and one way to do this is by reducing fleet costs.

“The differences in costs between businesses that seek tech-enabled fleet solutions and those which don’t are around a fifth of overall spend and many organisations are missing out on the potential to improve operating efficiency.

“As a nation, we rank way behind our neighbours in investment in technology due to a reluctance to increase spend but ultimately accessing innovative technology can make a major contribution to efficiency, using the analysis of trends and usage in turn to become more profitable.”

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