Nexus launches new management tools to help fleets identify cost savings

Nexus Vehicle Rental has added a new management information (MI) suite to make it easier for fleets to pick out trends and make cost savings.

The addition to Nexus’ Iris rental booking and management system will give fleets access to previously unavailable bespoke data, including a snapshot of their rental profile, that features the number of bookings, vehicles on rent and rental durations, in addition to top delivery locations, popular vehicle groups and fuel types.

Nexus’ Iris software is used to help manage 550,000 vehicles across more than 2,000 locations in the UK.

The platform highlights the number of out of hours and one-way rentals to identify avoidable costs, with graphs and charts.

All figures are comparable to the previous user defined period and can now be filtered by date to help identify trends down to specific driver profiles and highlight variances. Nexus said visibility from these new tools should help fleets to recognise and reduce spend.

Nexus’ own figures show that it has helped customers to save up to 20% of their rental expenditure by using data to support efficiency measures.

The system can provide insight into individual driver compliances, including data on fuel, mileage costs and fines incurred, the number of damage claims and their historical value.

David Brennan, Nexus Vehicle Rental chief executive, said: “We are constantly innovating to support our clients’ evolving mobility requirements.

“Our new management information suite enables customers to monitor Nexus’ service level performance transparently and ensures we are meeting our service level agreements, providing data on booking satisfaction and information on the number of deliveries and collections that are on time.

“Customers are able to access key billing data through the portal, including total rental cost, the number of invoices received and billing accuracy.”

Brennan said that in the last year more than 99% of Nexus invoices were correct first time and 98% of invoices were produced within three days of off hire.