Fleet management – where do I start?
New to the fleet management game? Paul Hollick, Chairman of the Institute of Car Fleet Management (ICFM), and Peter Eldridge, a director of the ICFM, had some sage words at Fleet Management Live for anyone starting out
The world of fleet management is a complex business.
With no two fleets the same, an off-the-shelf solution is not going to deliver, so it’s essential to choose the right partner if you don’t want to go it alone.
Paul Hollick, Chairman of the Institute of Car Fleet Management (ICFM), and Peter Eldridge, an ICFM director, used their Breakfast for Beginners address at Fleet Management LIVE to give those who are new to fleet management a heads-up on what to expect.
After outlining the main option for funding fleets – such as outright purchase for cash-rich organisations through to hire purchase, contract purchase, finance lease and contract hire –Paul explained why it’s paramount to find the right funding partner.
Paul said: “It’s important to find the right fit for you. Think about how they can help and whether your initial discussions lead to a sense of partnership and trust.”
Peter added that the new technology available to manage fleet assets is very exciting but also has its pitfalls.
He said: “How fleet managers can use ‘big data’ – the information we can get from smartphones – is very exciting but can also be risky because the motor industry’s infrastructure is not designed for it. The tastes of drivers are changing. They demand gadgetry and connected cars – ones that can link to the internet – but alongside that they need to be protected from cyber-attacks.”
Paul agreed: “The biggest challenge to the motor industry is the connected car and how we harness the data it can provide. Is data the cart or the horse? The next three to five years will be pivotal in how fleet management progresses.”
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