The commercial vehicle contract hire specialist operates an expanding fleet of some 1,700 commercial vehicles ranging in size from light commercial vehicles to 44-tonne HGVs and including specialist tanker, crane and refrigerated vehicles and trailers incorporating various ancillary equipment.
Seven Asset Management introduced the Jaama software system three years ago and says the technology is a vital tool in enabling the business to deliver added value service to customers through the generation of data which contributes to critical decision-making, in the day-to-day management and production of monthly KPI reports.
Steve Cole, deputy managing director of Seven Asset Management, said: “Mileage information feeds enable us to inform clients of exactly when vehicle inspections are required and services and MoTs are due.
“We use data to support customers in terms of their regulatory compliance. The information we gather dictates what is planned in respect of future servicing and inspection schedules to meet ‘O’ Licence conditions.”
Now in possession of data highlighting around £30m worth of maintenance and component replacement costs, Cole said: “We are able to slice and dice that information to provide ourselves and in turn our customers with a clear picture of future SMR costs based on historical trends.”
Accurate SMR costs are critical for Seven Asset Management so there are no shocks or surprises and its risk exposure is minimised. Additionally, that data helps the company to accurately reflect SMR costs within lease rates.
Cole said: “Knowledge and understanding of SMR costs is one of the fundamental factors in commercial vehicle contract hire. The data captured enables us to measure vehicle downtime effectively and drive through improvements.”
Around 250 reports are sent out to customers each week providing them with the very latest management information on individual vehicles within their fleets with monthly KPI reports also being produced.
The information generated also allows customers to measure performance across any number of their own sites, for example, which is extremely useful when looking at damage repair levels across different locations.
Cole concluded: “Key2 is a robust system and the information visibility provided enhances the decision-making processes for ourselves and our customers. Vehicle downtime is a key measurement and the data we capture means no surprises or shocks, which is customer-critical as they can then measure value for money.
“The Seven Asset Management business is growing steadily backed by solid service and data generated by Key2 is a contributory factor.”