GE Capital Fleet Services achieved $191 million in identified customer cost savings for the first half of 2013. Overall, through analyzing customer fleet data for savings and increased productivity, GE Capital has identified more than $1.6 billion in potential savings opportunities for customers since 2008. For the first half of this year, program enhancements were identified as the leading source for cost savings.
“Streamlining routine, but critical processes, continues to be an important component of cost savings plans,” said Steve Jastrow, Strategic Consulting Services Manager at GE Capital Fleet Services. “Utilizing programs to cut down the time and cost burden surrounding violation expenses, for example, has proven beneficial for fleet managers.”
For the first half of this year, the largest areas of cost savings identified by GE Capital Fleet Services include:
- Program enhancements in maintenance, fuel, accident and safety costs, telematics, licensing and registration fees, and toll & violation expenses.
- Vehicle replacement analytics used for determining the optimal time to cycle vehicles in a fleet to reduce costs and depreciation.
- Vehicle selection to ensure a fleet has the best vehicles to meet their specific needs.
- Lease versus reimbursement that identifies cost-cutting opportunities to convert companies’ driver reimbursement programs into vehicle leasing programs.
- Lease versus purchase to understand whether leasing or owning vehicles is the most cost efficient way to manage a specific company’s fleet.
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.
