DURING the current COVID-19 pandemic, for many brokers just getting to the future would be an ideal outcome.
But once the padlocks are off lockdown, brokers will be able to offer a compelling mix of vibrant entrepreneurialism and great personal lease deals to willing consumers, believes Keith Allen.
The former MD of ALD Automotive and ARI Fleet says:
“Brokers fit neatly between the leasecos and the end users as private contract hire takes off. The big six leasing companies are now effectively wholesale finance providers, and have become highly dependent on brokers.
“This dependency is providing brokers with a more dominant position in the marketplace, as long as brokers meet regulatory compliance expectations.”
Allen added that coronavirus lockdown is changing working trends and making people more nervous about venturing out.
“Therefore managing the digital process is more relevant now than ever before, which is why I see such an important future role for brokers.”
However Allen warned that relying on legacy or outdated systems would hold back this growth.
“Way too many businesses are still relying on legacy back office systems for managing vehicle fleets and leasing contracts. Companies relying on outdated systems are missing out on productivity increases and cost of delivery and quality of service benefits. Those things are vital if they are to survive in a dynamic and very different future.”
Keith Allen recently joined CBVC Vehicle Management as an independent consultant. He is also an independent consultant for fleet, leasing and mobility platform provider Bynx and a director and shareholder in APD Compliance Solutions.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
