Decisiv

Is Lack of Asset Visibility Hurting Your Truck Leasing Profits?

Posted in Fleet Maintenance on November 17, 2016

asset visibilityWhen your revenue depends on a healthy truck leasing operation, you face three key challenges.

First, you need to keep your customers happy so they continue to rely on you for their truck needs. Second, you need to ensure that your operations, including maintenance, run efficiently so you don’t squander your profits. Finally, you need to maintain your assets in peak condition to maximize resale value.

When you lack information about your assets and visibility into their performance, overcoming these challenges becomes even more difficult. Fortunately, technology exists that provides transparency into your assets and allows you to be proactive about their maintenance and repair needs.

Keep reading to explore the maintenance efficiency and asset visibility challenges that truck leasing companies face, and learn how Service Relationship Management (SRM) technology enables you to protect your profits with improved maintenance and repair efficiency.

Lack of Asset Visibility Increases the Risk of Costly Breakdowns

As a lessor, you own your assets, but your customers drive them hither and yon. This creates asset visibility challenges that make it difficult to maximize efficiency and control costs.

When a breakdown occurs, you may not even be notified until the fleet submits an invoice to you for the service. Plus, if you lack an automated way to capture preventative maintenance activity, you run the risk of additional breakdowns, which harm customer satisfaction and could negatively impact your profitability. Breakdowns also create the risk of greater damage to your assets, which could affect resale value.

Lack of Asset Visibility Makes Accurately Capturing Repair Data Challenging

Because you’re working with multiple customers and, potentially, service providers in multiple locations, you may struggle to capture timely, reliable repair data. Without a single system to capture and track VMRS-coded repair data, you could inadvertently pay for a comeback repair that should have been covered under warranty. You could also struggle to properly track other warranty claims, threatening your bottom line by increasing costs for covered items.

Finally, without an automated system to capture asset repair data, you may be relying on error-prone manual data entry. A manual system creates the possibility of costly data entry errors and creates extra administrative work for your team, which takes them away from more pressing tasks.

SRM Technology Makes Your Assets Visible

improved asset visibilityAn SRM platform solves your asset visibility challenges by connecting you with your customers, dealers, manufacturers and service providers. It provides real-time access to the information you need to manage your assets.

This real-time data enables you to be proactive about maintaining and repairing your trucks, which helps you control your costs, satisfy your customers and preserve the long-term resale value of your assets. The platform also helps you communicate more efficiently with your customers, OEMs and service providers, enabling you to cut down on administrative tasks and stressful phone calls.

Take the Next Step

Improved maintenance efficiency and lowered costs are within your grasp. Set up a conversation with Decisiv to learn how easy it is to implement SRM technology in your truck leasing operations.

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Topics: Fleet Maintenance