GE Fleet Services Identifies $100M in Cost Savings
EDEN PRAIRIE, MN – GE Capital Fleet Services has identified nearly $100 million in cost savings for customers in the first quarter of 2009. Over the last five years, GE has helped companies with commercial car and truck fleets maximize their return on their fleet investments by identifying nearly $2 billion in cost savings.
"We're focused on partnering closely with customers to help them manage their fleets as efficiently and effectively as possible," said Mark Smith, strategic consulting services leader at GE Capital Fleet Services. "Most companies today are already operating with lean budgets, so the key is to develop and implement more effective fleet strategies that allow companies to increase compliance, manage spend and drive productivity."
Some of the areas where the highest levels of savings were identified in the first quarter include:
-- Strategic fleet plan development: Implementing plans that take into account each aspect of the fleet and provide data on an individual and aggregate basis for high-level analysis.
-- Vehicle model-year planning: Optimizing OEM and vehicle selection process in combination with total cost of ownership analysis
-- Technology optimization: Deriving full benefit of technology solutions, such as telematics, that deliver near real-time access to fleet data and analysis including vehicle asset performance metrics, trend charts and customizable mapping.
-- Vehicle-replacement analysis: Determining optimal time to keep vehicles in fleet given applicable costs.
-- Lease options versus reimbursement programs: Moving from mileage reimbursement plans to company car programs.
"Business leaders are increasingly looking to GE as their strategic partner responsible for supporting critical business initiatives," said Clarence Nunn, president of GE Capital Fleet Services. "From increasing productivity and optimizing their fleet operations to driving green initiatives, we specialize in providing information, analysis, and fleet management services to help our customers achieve their business objectives."
About GE Capital, Fleet Services
GE Capital, Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Europe, Japan, Australia and New Zealand. Visit the Web site at www.gefleet.com. GE Capital offers consumers and businesses around the globe an array of financial products and services. GE is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at www.ge.com.