TO increase efficiency and lower operational costs, leasing and fleet management companies must embrace digital transformation, says PAVE, an AI-based inspection platform that automatically inspects and appraises vehicles in real-time.
Without taking steps to incorporate AI and automation, then PAVE says de-fleet costs will continue to escalate.
PAVE says that AI-powered vehicle inspections offer cost-saving benefits for leasing companies by increasing efficiency, accuracy, and consistency in inspections. They also enable early detection of issues, providing data-driven decision-making insights, improving customer satisfaction, and critically speeding up the de-fleet process to improve days to sell, the business added.
Phil Deegan, UK Head of Business Development at PAVE, said: “AI has the potential to transform end-of-lease inspections in the fleet management industry.
“Despite rising business costs, NI contributions and tighter consumer spending, there is still potential for growth with more cost-driven payments. Integrating AI-driven inspection tools can significantly streamline operations, reduce costs, and enhance customer satisfaction, ultimately leading to a more profitable and sustainable business mode.”
The benefits of AI inspections
- Automated inspections save both time and labour costs while increasing throughput.
- Minimises human error, ensuring consistent and accurate inspections across all vehicles.
- Facilitates early issue detection, identifying minor damages early on and preventing costly repairs and disputes.
- Empowers data-driven decisions, generating valuable data for informed maintenance, replacement and operational decisions.
- Improves customer satisfaction through real-time inspections and independent transparent reporting, allowing the driver time to make informed decisions, which builds trust and reduces disputes with lessees.
- Reduces unnecessary vehicle movements, significantly supporting sustainability objectives.
Phil concludes: “The best way for leasing and fleet management companies to face the challenges head-on, in this current climate, is to embrace change and adapt. Data driven decision making has always been the most effective way to manage any business. Adopting PAVE’s AI inspection technology to gather this intel earlier in the process will enable any leasing and fleet management company to harness the full potential of this latest innovation.”
Automotive and fleet writer for Broker News
