CABFUSION: A NEW ENDEAVOUR
CabFusion is a new endeavour that now owns both Cordic Technology and Cab
Guru. CabFusion will allow operators to put jobs into a virtual pool and offer bookings that they can’t cover out to participating fleets.
CabFusion is creating an actual virtual network of UK-wide independent operators, which has developed a virtual fleet of easy, low-barrier accessibility to join, adding to our capabilities for operators, suppliers of work, software houses and service offerings such as insurance, vehicles and innovations.
What is the virtual fleet? This is a network of all operators who are currently on our Cab Guru virtual pool. This is a virtual fleet of vehicles nationwide and allows both consumer and business work to be passed directly and automatically, selecting the most suitable and compliant vehicle available.
Cab Guru provides both B2C and B2B work into its new virtual fleet. B2C work is received via the Cab Guru app/web portal. It offers a comparison between price, star rating, and (if applicable) ETA and goes directly to the fleet that the consumer has selected.
B2B is increasingly plugging into our new virtual fleet capability and automatically selects the most suitable, available vehicle. All our B2B work will be done via the virtual fleet.
CabFusion supports fleets with a combined total of 15,000 vehicles nationwide and provides independent fleet operators with a one-stop shop to drive efficiencies and economies of scale into both the fleet and customer side of the UK licensed private hire sector. By creating a single, integrated provider of all necessary platform and technology services for the industry, CabFusion aims to add to this number, and with over 100,000 vehicles on the fleets of operators using DMS, there is enormous potential here.
CabFusion aims to create a unified virtual pool of fleets - all working together through a national network, delivering an improved product and service. Combining Cab Guru’s customer and fleet management platform and Cordic’s
fleet 18
management and despatch systems together under one roof. Both Cab Guru and Cordic will continue to operate as separate business units while working together collaboratively across the industry. Crucially, the infrastructure for building a single, virtual pool of fleets is system-agnostic by design and able to connect fleets running any fleet management system through API connectivity.
Cab Guru has a management team which is available to provide assistance to operators and clients and happy to provide extra support when needed.
Idris Davies, Chief Executive Officer of Cordic, said:
“I’m really excited about this deal. But, of course, the services that both companies provide to current clients will remain unaffected. The great future potential lies in our infrastructure, connecting fleets running on any underlying operating system. CabFusion’s vision for the industry’s long-term future puts all the power in the hands of the operators, who are free to decide how they run their business, including which platforms and software services are right for them. We’ve done this deal to better serve the interests of independent operators across the country.”
Joe Polley, Chairman of Cab Guru, and Phil Bailey, Vice Chairman of Cab Guru, said:
“Our mission is to establish a national services and technology business for independent licensed private hire fleets and provide an open, national marketplace with unrivalled reach. Our partnership provides fleets with a network which will enable them to protect their position in a highly competitive market. At the same time, and whichever part or parts of our company they work with, operators are, of course, entirely free to choose the technology and platforms that are right for their businesses.”
CabFusion will, in the not-too-distant future, seek investment and offer shareholding opportunities to enable other operators to own a piece of the network.
Anywhere, anytime, for anyone, serviced by operators and owned by operators. That is the guiding principle of CabFusion.
MAY 2023 PHTM
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