Asset Management: Rental vehicles
Life in the fast lane with rental fleets By REBECCA MCKEVITT: Business Rental Expert at Nexus Vehicle Rental
AS consumption habits continue to shift from ownership to usership, vehicle rental is forming an increasing part of businesses’ mobility plans across a wide variety of industries, including recycling and waste management.
Collecting, transporting, recycling and disposing of waste requires a diverse range of vehicles. Waste management fleets often require specialist equipment as well and, as such, the management of a fleet can be a large undertaking.
Quality, availability, downtime and price are just a few of the concerns for those operating in the sector.
As uncertain economic conditions continue, we are seeing fewer businesses inclined to invest in depreciating assets, instead opting to diversify their fleet through rental, keeping fixed costs down whilst flexing their fleet with the demands of the season.
Saving you time and money Buying and maintaining the specialist vehicles required to operate a waste management fleet can be an expensive exercise and rapid asset depreciation is common. Similarly, leasing the right vehicles can be time consuming, seeing fleet operators tied into long-term contracts. It’s important that fleets are well maintained, but operations also need to deliver against the bottom line, maximising budgets and minimising cost.
Although rental is often seen as a short- term solution, fleets are increasingly turning to the flexibility of daily, short, medium and long-term rental as it covers all eventualities without large scale financial commitment. Customers are not tied into a contract and can off-hire vehicles without penalty or delay when they are no longer needed. In a deadline- driven industry, rental means you only need to pay for vehicles when needed, minimising downtime and costs and enabling fleet capacity to be rapidly scaled up to cope with peak periods.
Driven by tech Today, the rental proposition goes beyond just providing the vehicles themselves. It also includes rental management software which can handle all compliance, such as LOLER and PMI ‒ a key and time-consuming task in the waste management sector.
Nexus’ unique rental booking system, IRIS, enables customers to book vehicles at the click of a mouse or via a smartphone, extend agreements and review business requirements. Within this, the Management Information (MI) suite provides real time data on all areas of rental, including billing data, customer services, fines and damage management, as well as highlighting cost inefficiencies, helping fleet managers handle all of their operations effectively.
The system also automatically identifies the most cost-effective options for customers and outlines inefficiencies in the rental booking process, saving customers up to 20% of their rental spend each year.
Seeking a flexible rental solution through a third party such as Nexus means businesses are always equipped to meet their changing mobility needs.
www.nexusrental.co.uk
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