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Lex saves more than £1.5m for customers during first year of benchmarking service

Lex saves more than £1.5m for customers during first year of benchmarking service

Lex Autolease, the UK’s largest vehicle leasing and fleet management company, has saved customers more than £1.5 million through ‘fleet benchmarking’ since launching the service in earlier this year.

Customers who run 500 vehicles or more can draw on data from Lex Autolease’s fleet of almost 390,000 vehicles across the UK to identify cost and operational efficiencies, enhance driver benefits and improve their duty of care focus.

Fleets can be anonymously benchmarked against others in the same sector or against a business of a similar size to view like-for-like comparisons across all measureables, ensure short-term competitiveness and lay the groundwork for long-term fleet improvements.

Andy Barrell, head of business development at Lex Autolease, said: “Companies are keen to understand how their fleets are performing from operational, risk and cost perspectives but until recently, all they’ve had to go on is their own data from previous years. Now, fleets can benchmark their performance against our entire corporate customer base, drawing on competitor insights and industry best practice to drive policy change and development.

“For example, the fleet manager at a mid-sized utilities firm can benchmark their own fleet against other utilities’ providers, similar-sized companies in other sectors or fleets identified by us as best practice examples. These comparisons can highlight important areas to develop and provide a yardstick for measuring fleet improvements.”

Benchmarking insight has been used to deliver the following successes to date, according to Lex Autolease:
  • Lowering emissions, amending mileage rates and restricting engine capacity to save £1.4 million for a major retailer;
  • Improvements to the management of accidents, motor offences and driver recharge to save £820,000 for a healthcare provider;
  • Simplifying the choice list, introducing electric vans and improving the management of end-of-contract damage charges to save £89,000 for a transport contractor.

Mr Barrell said: “The global automotive industry is going through a transformative period and fleets are under increasing pressure to cut costs and reduce emissions. Adding an extra layer of insight to the decision-making process is proving invaluable, especially for customers trying to establish whether to start the transition towards alternative fuels.

“Looking ahead to another year of technological and legislative change, data will continue to underpin the work that we do in making sure our customers’ fleets are not only fit for purpose, but fit for the future.”