Data captured by Seven Asset Management on every aspect of a vehicle’s in-life operation enables the company to obtain absolute visibility of all issues linked to mileage and service, maintenance and repair (SMR) to ensure clients’ fleets function at maximum efficiency and meet all regulatory requirements.
The Suffolk-based commercial vehicle contract hire specialist operates an expanding fleet of some 1,700 commercial vehicles ranging in size from light commercial vehicles to 44-tonne HGVs and including specialist tanker, crane and refrigerated vehicles and trailers incorporating various ancillary equipment.
Seven Asset Management introduced Jaama’ Key2 software system three years ago and the technology is a vital tool in enabling the business to deliver added value service to customers through the generation of data which contributes to critical decision-making, in the day-to-day management and production of monthly KPI reports.
Steve Cole, deputy managing director of Seven Asset Management, said: “Mileage information feeds enable us to inform clients of exactly when vehicle inspections are required and services and MoTs are due.
“We use data to support customers in terms of their regulatory compliance. The information we gather dictates what is planned in respect of future servicing and inspection schedules to meet ‘O’ Licence conditions.
“Our whole service offering is built around supporting clients’ businesses and we will maintain their vehicles in accordance with their compliance requirements.
“A robust system is required to deliver solid outputs and we use Key2’s maintenance reports extensively - perhaps more than any of Jaama’s other leasing company customers - to record every component on a vehicle that is replaced.”
Now in possession of data highlighting around £30 million worth of maintenance and component replacement costs, Mr Cole said: “We are able to slice and dice that information to provide ourselves and in turn our customers with a clear picture of future SMR costs based on historical trends.”
Accurate SMR costs are critical for Seven Asset Management so there are no shocks or surprises and its risk exposure is minimised. Additionally, that data helps the company to accurately reflect SMR costs within lease rates.
Mr Cole said: “Knowledge and understanding of SMR costs is one of the fundamental factors in commercial vehicle contract hire. The data captured enables us to measure vehicle downtime effectively and drive through improvements.”
Minimising vehicle off-road time and maximising vehicle up-time is critical for fleets, and Key2 enables Seven Asset Management to create a detailed audit trail that measures response and repair times and ensures a van or truck is back on the road as quickly as possible.
Additionally, vehicle defect reports sent from drivers and fleet managers are logged on the system. SMR that requires immediate attention is dealt with, while non-urgent issues are logged for attention at the next service or inspection interval.
Around 250 reports are sent out to customers each week providing them with the very latest management information on individual vehicles within their fleets with monthly KPI reports also being produced.
Mr Cole said: “The reports provide the very latest in-depth information and, relative to mileages, we can flag up any potential excess costs early so perhaps vehicles can be swapped and mileages balanced where appropriate.”
The information generated also allows customers to measure performance across any number of their own sites, for example, which is extremely useful when looking at damage repair levels across different locations.
He concluded: “Key2 is a robust system and the information visibility provided enhances the decision-making processes for ourselves and our customers. Vehicle downtime is a key measurement and the data we capture means no surprises or shocks, which is customer-critical as they can then measure value for money.
“The Seven Asset Management business is growing steadily backed by solid service and data generated by Key2 is a contributory factor.”
Key2 replaced a vehicle management system that could no longer support Seven Asset Management’s dynamic customer focussed, expansion-led business model.
Jaama managing director Martin Evans said: “We have developed a very close working relationship with Seven Asset Management as it seeks to further improve operating efficiencies and cost control for both itself and its customers.
“The UK’s contract hire sector is a core target market for Jaama and a number of leading vehicle leasing suppliers have introduced Key2 to improve operating efficiencies and cost control for both themselves and their customers.”