Reduce administration costs
Time spent manually checking depot invoices can be reduced from 15-30 minutes down to less than 5 minutes, dramatically reducing admin time.
Avoids the need to estimate accruals
By self-billing and producing pro-forma invoicing, companies can anticipate costs more accurately and calculate precise accruals with ease.
Access true profitability
By collating all costs associated with a unit, a true profitability report can be produced so managers can accurately review how efficiently the business is running and analyse the profitability of the fleet.
By automating the process of depot and vendor cost management, leasing companies can considerably reduce administration time and remove the need to manually verify invoices. Users can also produce data to manage cost accruals, report on exact operating costs and quickly assess the profitability of all units or contracts.
Without effective vendor cost management, admin staff are required to manually verify invoices against other data and the workload of administration staff associated with depot invoices can be reduced by up to 75%.
Daily operations are more efficient and administration staff can concentrate on tasks that improve profitability rather than manually checking for errors and outstanding issues. Leasing companies no longer have to estimate accruals and wait up to 2-3 months for depots and vendors to send final invoices for verification. An accurate calculation of costs per unit is always obtainable and information is ready to be exported to the accounts system.
By self-billing and producing pro-forma invoicing, companies can anticipate costs more accurately and calculate precise accruals with ease. Over time, users can build up operational data to be analysed such as cost per location, cost per customer, etc and therefore lessors can gain peace of mind that their investor pay-out calculations are accurate.
By collating all costs associated with a unit, a true profitability report can be produced. This allows managers to accurately review how efficiently the business is running and analyse the profitability of the fleet. With tight profit margins in current day leasing economics, just a fraction of a percent increase in profit is crucial. Immediate action can be taken to ensure that financial targets are met and the number of transactions which result in loss or unnecessary low profit margins can be reduced.