Fleet “belt tightening” leading to faster adoption of new technology, reports epyx

“The outcome is probably the strongest propensity to adopt new technology in the more than two decades epyx has existed. There is a genuine thirst for new products and ideas that can ease cost pressures through this wave of belt tightening.”

This was primarily taking the form of better use of data, Marc said, as AI made it possible to interrogate information much more quickly and effectively, creating new insights.

“For years, fleets have had access to huge and growing amounts of data but there was a shortage of tools to interrogate it effectively. AI has changed that, creating the potential to ‘play’ with numbers quickly and easily in a way that was previously unavailable. Imaginative approaches are revealing many kinds of different insights that have commercial value.”

Marc said epyx had seen an increase in demand for its data and reporting as a result of this trend.

“We almost certainly have more UK fleet service, maintenance and repair (SMR) data than anyone else and over the last couple of years, there has been a definite increase in fleets who want to access and leverage our information to drive new efficiencies.”

The other key area of growth had been in new products that enabled substantial process improvements, Marc said.

“We introduced AVA – for Automatic Vehicle Authorisation – earlier this year that uses machine learning to automatically authorise a much wider range of SMR jobs than previously possibly. It was adopted by fleets totalling more than one million vehicles inside three months, which is quite dramatic. That figure shows the kind of hunger for genuine innovation that exists.

“We’re currently seeing a similar pattern emerge around direct booking, which allows fleets to access workshop diaries in real time in order to reserve work. Usage is increasing on a daily basis and we expect to have 70% coverage of our workshop network by the end of the year, again because the benefits available have obvious value.”

Marc said financial pressure on major fleets was unlikely to ease in the short term, with key negatives likely to persist at least through the medium term.

“The good news, however, is that through the adoption of new technology and other progressive ideas, it’s clear that fleets are rising to the challenge.”

About epyx

Based in Meriden, Warwickshire, epyx has been a leader in digital solutions for the automotive sector for more than two decades, and today operates not just in the UK but also Australia, Austria, Czechia, Denmark, Finland, France, Germany, Hungary, Ireland, Portugal, Slovakia, Sweden and Switzerland.

Its market-defining products are the 1link platforms, which improve the efficiency of car and van fleet operators and their suppliers, covering key functions including vehicle maintenance, hire and remarketing. These have been adopted by major fleets totalling more than seven million vehicles internationally, over 37,000 garages and other service providers, and nearly all major motor manufacturers on behalf of their franchise networks.

Many of epyx’s customers have worked with the business almost since the company’s inception, with expert account management helping to continually improve processes in a highly dynamic sector, while also delivering data that creates new insights and enables innovations to be conceived and implemented.

epyx is part of Corpay (NYSE: CPAY), a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner.

About Corpay

Corpay (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (like fuelling and parking), travel expenses (like hotel bookings) and payables (like paying vendors). This results in our customers saving time and ultimately spending less. To learn more visit www.corpay.com.