GE Capital Fleet Services Reaches $1 Billion Milestone for Identified Customer Cost Savings
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- GE Capital Fleet Services today announced it has identified $1 billion in customer cost savings over the past four years. Through its cost savings identification program, GE Capital Fleet Services analyzes customers' fleets to help maximize efficiency and determine opportunities for cost savings.
"As fleet managers continue to evaluate ways in which they can control costs and increase productivity, our Strategic Consulting team helps them review how their fleets operate to identify ways they can maximize their fleet investments," said Brad Hoffelt, senior vice president and general manager of products & services at GE Capital Fleet Services. "Identifying $1 billion in cost savings opportunities is just one of the ways we go beyond our core finance and service offerings to help customers build stronger businesses by meeting their fiscal and operational goals."
In the first six months of 2012, GE Capital identified $262 million of cost savings opportunities for customers. In evaluating the top opportunities for fleets, GE Capital Fleet Services identified three major categories:
Lease versus reimbursement: Identifying cost-cutting opportunities to convert companies' driver reimbursement programs to vehicle leasing programs
Accelerated replacement analyses: Determining opportunitiesto accelerate the service life cycle of vehicles in order to decrease overall fleet depreciation
Optimal replacement analyses: Determining the optimal time to cycle vehicles in a fleet to drive reduced maintenance and fuel spend costs
"By evaluating in-depth data and benchmarking metrics from the fleet management services we provide, we are able to analyze all aspects of our customers' fleets and identify opportunities to streamline operations," said Steve Jastrow, strategic consulting services manager at GE Capital Fleet Services. "Helping our customers make informed decisions about how they can optimize fleet productivity ultimately leads to cost savings."
About GE Capital Fleet Services
GE Capital Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Europe, Japan, Australia and New Zealand. Visit the website at gefleet.com or follow the company's eco news and updates via Twitter (@GEFleetSvcs).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
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