Fleet Advantage, a leading innovator in fleet data analytics, fleet financing solutions, and lifecycle cost management (LCCM) today announced it has been named one of the most innovative companies in equipment finance by Monitor magazine. Monitor m
As a leading innovator in fleet analysis and modernization, Fleet Advantage is being recognized for the essential role it plays in aiding numerous fleet organizations to deliver food and necessary health items like the COVID-19 vaccine to an estimated 350 million Americans. Many companies had to quickly respond and adjust to a new normal that required more flexibility in their business operations. On top of this, finance executives in the transportation sector had to continuously do more with less. They were tasked with increasing efficiencies, monitoring, and complying with regulatory mandates and meeting customer expectations – all while saving money.
To help alleviate organizations of financial strains, Fleet Advantage developed its Sale-Leaseback program. With this program, a company can select the assets from their fleet that are older models, which are inefficient and less reliable, and Fleet Advantage will purchase those assets and lease them back to the fleet for an interim period until they can then transition to new equipment when ready. This enables organizations to generate cash in the near term, which is especially critical today, given the COVID-19 pandemic and strain it has placed on companies as well as the economy. The cash gained can then be used for immediate internal needs or to provide extra working capital.
“Innovation is a multi-faceted process that allows us to get creative to evolve and transform concepts to better assist our customers,” says John Flynn, CEO of Fleet Advantage. “Last year, we really focused on our innovative thinking to help fleet organizations whose businesses were turned upside down due to the supply chain demand from the pandemic.”
Organizations that take advantage of the Sale-Leaseback program also reap the benefits of Fleet Advantage’s proprietary ATLAAS (Advanced Truck Lifecycle Administrative Analytics Software) platform. The platform alone makes Fleet Advantage innovative by transforming how private truck fleets and for-hire carriers operate, manage, and evaluate fleet costs through several strategic advancements and new solutions.
Since inception, ATLAAS has helped customers save an estimated $200 million, and as a result Fleet Advantage has over $1 Billion of assets under management and serves America’s top truck fleets. ATLAAS has over 18 billion miles of data as part of the company’s tracking and analysis and monitors over 54,000 vehicles offering advantages in benchmarking of operating costs and providing monthly, quarterly, and annual fleet reporting for Total Cost of Ownership.