Leasing software and fleet management converge to create synergies

This article discusses the accounting side of telematics and fleet tracking.  When integrating the software of the tracking system to other software platforms that perform other functions, powerful systems can be created that really save time and resources for businesses.  The key is finding the right tools to link these software platforms together.  Automation is key, key, key in creating systems that are stable and reliable.

After extensive research, Fleet management consultants Odessa Technologies, Inc. recently identified key trends shaping the fleet management industry. Among these key trends, in addition to real-time exchange of information, users can expect to see greater functionality derived from (1) the integration of leasing software and fleet management systems and (2) web-based fleet/leasing software. With the advent of Internet-based fleet management software, fleet management companies can now leverage the accessibility of the Web to create significant advantages over traditional leasing software products.

Benefits of web-based design
One of the benefits of the added functionality attributed to Web-based software is an increase in operational efficiencies. In the past, the ability to manage complex relationships across all customer types has been challenging. Current technology enables users to connect with the fleet management company or lessor from any location equipped with Internet access. The traditional one-way pipelines of data delivery thus become forums for information exchange. Additionally, the integration of leasing software and fleet management systems can result in demonstrable cost savings for the business. More specifically, fleet management software is capable of connecting business partners in real-time, thereby significantly reducing communication cycle times.

Integrated Lease & Fleet management software solutions
Designed specifically for fleet and lease management companies, Odessa’s software suite can address the entire range of fleet operations while comprehensively managing the entire life -cycle of the underlying lease contract. Typically, the fleet leasing life-cycle begins with the issuance of a fleet card and ends when the vehicle is taken off-road. With a continually expanding choice of services, fleet management companies can choose software applications that are equipped with fuel purchase management, maintenance work management, accident management, license management, fleet card administration, exceptions reporting, and customer billing capabilities, just to name a few. When this is coupled with fully integrated lease management functionality, there is a new value add that is brought to the table. The customer can now be viewed in terms of all the services or products that they are paying for and not just in isolated fleet or lease terms. Further, the company’s internal profitability, as a result, can also be better analyzed. This allows salespersons, for instance, to more effectively negotiate the various terms of a customer relationship that includes fleet and leasing products.

Integration and customization
Fleet leasing services can be administered either as value-added services that complement the lease life-cycle or as separate, stand-alone product offerings – independent of leasing. The choice is entirely dependent upon the individual business’s needs. An advanced fleet management software product provides seamless integration between existing systems and allows for some level of customization thus ensuring the long-term success of the investment.

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