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Around 200 of the most senior executives in the UK’s vehicle leasing companies came together at the Williams Formula 1 base in Oxfordshire for the British Vehicle Rental and Leasing Association’s (BVRLA) annual technology conference.
The audience came along to hear from industry thought leaders on how vehicle rental and leasing companies offer can smarter, safer and more efficient road transport by addressing the big issues, the main challenges and the opportunities for their businesses that are presented by these technological developments. Speakers addressed Technology Roadmaps, Working with Fleet Suppliers and the Next Generation Supply Chain.
As DRIVE is a critical supplier to some of the biggest names in vehicle leasing, the BVRLA invited DRIVE’s own Martin Drake to be one of the key speakers. Martin presented alongside Matthew Key Head of Customer Innovation at BT Global Services, who looked at Blockchain as a new payment system for the sharing economy, Lee Hudson Chief Operating Officer at AppyParking and Rupert Pontin of vehicle pricing and data firm Glass’s Information Services who talked about issues of Remarketing and De-Fleet.
Martin used his presentation to highlight to the audience just how fast the business world is being altered by developments in technology and how they will need to adapt, particularly around mobile, saying “We now expect to be able to do all of our transactions with our mobile.”
Cautioning the leasing companies from the naive idea that they can simply apply technical sticking plasters to their creaking old systems, Martin added, “IT is set to become hugely more complex, if we are not careful, we plug more and more bits into the system and we end up with Spaghetti. We should never underestimate the skills that are needed to achieve this, people development is a very important part of IT success.”
The fleet sector is set to undergo a revolution, with changes driven by advances in both automotive and non-automotive technology, evolving customer demands and market conditions creating new threats and opportunities for vehicle leasing companies in equal measure. That is was the vision set out by Martin Drake of DRIVE Software Solutions as he presented to some of the top executives in Europe’s largest leasing companies at the recent Leaseurope forum in Brussels.
Drake was invited to present to Leaseurope’s Car Leasing Working Group which is responsible for developing positions on car leasing for Leaseurope the organisation which acts as a pan-European umbrella for all of the national vehicle and rental trade bodies such as the UK’s BVRLA.
Talking to a high level audience made up of board members from national associations as well as directors of household names such as Leaseplan, Alphabet, Arval, Drake pulled no punches saying that “the 3 year, 60,000 mile contract will be a thing of the past” and “corporate car policy will evolve to become mobility policy, characterised by composite contracts”, where the challenge will be to maximise usage. One of the biggest challenges for leasing companies, according to Drake is how firms cope with the concept of asset-less contracts and related incident management.
Talking about Martin Drake’s presentation, Richard Knubben of Leaseurope said, “Martin Drake’s presentation at Leaseurope’s Car Leasing Working Group sent a strong message to automotive leasing companies regarding the need to be able to properly analyse and consequently utilise the ever increasing amount of data being generated by drivers and vehicles. Leaseurope is happy to have experts such as Mr. Drake on board within its associate membership program.”
The mobility landscape across Europe is changing, driven by a number of factors. Growing populations are increasing demands on an already constrained transport infrastructure that also has to cope with the changing needs of an ageing demographic. Old models of vehicle ownership and traditional travel habits cannot keep up with emerging requirements for seamless, integrated travel options. Individuals, funders, and organizations need to embrace the new concept of “total” or “intelligent” mobility, which involves making greater use of technology, and in particular data about travel patterns, to create a new approach offering more choice and greater flexibility about how people get around.
DRIVE is once again very proud to have been able to sponsor the International Auto Finance Network Spring and Awards, a high level business event put together by the International Auto Finance Network held at Canary Wharf in London's Docklands financial district.
The event draws top executives from UK and European finance and leasing companies and sets out to look at the key tasks that lie ahead for a market being transformed by technological change.