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Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners
 

Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners

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Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners, a sponsor company at the marcus evans CFO Summit 2013, on ...

Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners, a sponsor company at the marcus evans CFO Summit 2013, on better fleet management.

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    Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners Reducing Cost through Better Fleet Management: Interview with: Christopher Carey, Managing Director - Corporate Division, FleetPartners Document Transcript

    • Reducing Cost through Better Fleet Management with them, by funding them through off- What trends should CFOs prepare balance sheet mechanisms. That is how for? we can help CFOs. The Australian economy is shifting How could outsourcing fleet significantly. Companies are slowly management reduce cost? investing back into the market, and I believe the cost of capital is going to be It is about getting economies of scale a premium going forward. Smart by working with a company of our size. companies will be those that are We have 50,000 vehicles under investing in income-producing assets, management, so we have very good and divesting the ownership of non- arrangements with the supply chain. income producing assets.Interview with: Christopher Carey, Ask most CFOs “How much was the That is going to be key for CFOs, toManaging Director - Corporate total cost of your fleet last year?” and make sure they are focused onDivision, FleetPartners the answer is unclear. “Where does your delivering cost reductions, while getting team see the areas to improve maximum return from the assets that efficiency and reduce cost of your they do own. Most CFOs I speak withChief Financial Officers (CFOs) need fleet?”, again sometimes a difficult today are planning to invest andto look at the whole life cost of their question. FleetPartners provide these increase capex over the next 12 monthsorganisation’s fleet, to identify where answers. but do not want to increase risk on theirrisk and cost can be reduced, says balance sheets.Christopher Carey, Managing Director - To give you an example, we wereCorporate Division, FleetPartners. recently able to save a customer with Any final words of wisdom?Better fleet management could save 500 vehicles over AUD 1 million, againstcompanies with large fleet millions of them running their own fleet. We did an CFOs need to look at the whole life costdollars, he goes on to say. analysis of their current fleet using our of the organisation’s fleet. Once they Fleet Strategy Framework that allows us understand that, there are multiple costFrom a sponsor company attending the to look at eight different control and points within that equation that canmarcus evans CFO Summit 2013 in cost pillars/leavers, understand each reduce cost and risk.the Gold Coast, Queensland, Australia, one and identify the cost drivers moving10 - 12 March, Carey highlights the cost the fleet management. We look at allsaving opportunities when it comes to processes and try to optimise them.fleet management. This includes risk control, getting drivers to actually drive well and makingWhat are CFOs focusing on today? vehicles fit their purpose. Six sigma processes allow us to make sure we are A company should onlyCFOs are expected to do more with pulling out costs from every step andless, to deliver more value with existing pass that along to the customer.resources. They are focused on gettinga return on assets, reducing operatingcosts, and getting the most productivitythey can out of staff and assets. The framework lets us analyse the total cost of the fleet or the whole life cost of a vehicle. Cost saving is not about the own assetsMany CFOs we have spoken with have lease payment, as this is the smallest cost of running a fleet, but it’s where that actuallytold us that their company owns a lot of CFOs can save money in other parts ofassets, but that they are mostly non-income producing assets. That is crazy. their fleet management. make them moneyA company should only own assets that And finally, converting the cashactually make them money. However, purchasing mentality into operatingthings like computers and cars are expense i.e. taking a balance sheet itemrequired for people to do their job and and turning it into a profit and loss itemdo not physically make money for the is quite beneficial for a company. Itcompany. CFOs keep telling us that they removes risk, provides greater controlwant to turn those into operating and allows better use of capital andexpenses and control the risk associated debt.
    • About the CFO Summit 2013 The Finance Network – marcus evans Summits group This unique forum will take place at the RACV Royal Pines Golf Resort & Spa, Gold delivers peer-to-peer information Coast, Queensland, Australia, 10 - 12 March 2013. Offering much more than any on strategic matters, professional conference, exhibition or trade show, this exclusive meeting will bring together trends and breakthrough esteemed industry thought leaders and solution providers to a highly focused and innovations. interactive networking event. The Summit includes presentations on ensuring structural consistency, utilising digital and social media to boost financial results and improving the quality and speed of decision making to deliver improved outcomes. www.cfo-anz.com Please note that the Summit is a Contact closed business event and the number of participants strictly Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits limited. Division Tel: + 357 22 849 313 Email: press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.comAbout FleetPartnersFleetPartners is a leading leasing and fleet management company, managing over 50,000 vehicles across Australia and NewZealand. From a multinational corporation with a corporate fleet to a small business with ten vehicles, right down to the individualdrivers’ personal vehicle financing requirements – FleetPartners diverse product offering ensures our customers mobility.www.fleetpartners.com.auAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsCFO Summit (North America) - www.cfosummits.comChief Procurement Officer Summit (North America) - www.cpo-summit.comEnergy CFO Summit (North America) - www.energycfosummit.comTo view the web version of this interview, please click here: www.cfo-anz.com/ChristopherCarey