May 06, 2008
Wheels Launches Web-Based Expense Analysis Tools
DES PLAINES, IL – Wheels, Inc. has just introduced two major new fleet decision tools: Expense Variance and Cost Projection. The innovative tools are designed to provide fleet, sourcing, and finance executives and managers with an organized and straightforward look at all fleet expenses, capturing and presenting the data needed to make optimal decisions for their fleet.
"These additions to Wheels' FleetView take online fleet management technology to a new level," said Scott Edidin, Wheels senior account manager. "Fleet expenses are challenging to understand and explain. Executives and managers can now easily and quickly mine fleet data in real-time to control their fleet costs, avoid expense surprises, identify savings opportunities, and reach the best possible business decisions."
New Technology Focused on Expense Control
In Expense Variance, clients can drill into seven different fleet expense categories in order to rapidly and accurately identify where and why costs have changed over time. This feature uses best-practice-guided analysis to review expenses from one period to the next, in line with how corporate management evaluates fleet costs. Managers can easily identify the factors driving fleet expenses.
The new Cost Projection tool is an online modeling application that focuses on all of the major elements affecting fleet costs, such as fleet size, capitalized cost, and fuel prices. The tool contains prior year and year-to-date data and calculators to help managers make accurate forecasts and weigh alternative budget strategies going forward. With this capability, budgets can be created in minutes rather than days, resulting in significant time savings and, most importantly, helping to avoid budget surprises later in the year.
The output from both decision tools is available in standard document and spreadsheet formats, providing for quick and convenient management reporting.
The new tools will be introduced formally to all Wheels clients through an exclusive web seminar this month. "These are the first in what will be a series of fleet decision tools that will be delivered to our clients," Edidin said.