TransUnion and Autolytix Launch Partnership Set to Innovate Vehicle Management
TransUnion and Autolytix have officially launched their Fleetlink partnership that will utilise big data to provide actionable insights for businesses to optimise their fleet, leasing and finance requirements through analytical Residual Value (RV) and Cost Per Kilometer (CPK) models.
Nick Tuttelberg, Director: Business Development at TransUnion says Fleetlink will create a market standard by providing an analysis of the life-cycle of vehicles and a data-based recommendation plan to companies which manage vehicle fleets, vehicle financiers and insurers. “Businesses across industries rely on their fleets for their operations. Our partnership with Autolytix allows us to provide plans for the benefit of businesses in terms of how they optimise their processes and strategies for what is a core business asset.”
In order to find a unique, actionable solution for each business, millions of lines of data need to be analysed – including information about fuel, maintenance, accidents and productivity over each vehicle’s life cycle.
What sets Autolytix apart from similar companies is the following key elements:
• Vast data sets regarding vehicle statistics and performance accumulated over many years;
• Analytical expertise and over 15 years’ experience in the fleet Industry;
• User friendly software to meet each client’s specific needs;
• Models cater for macro-economic movements e.g. exchange rates, interest rates and trade-in assistance, which makes this solution unique in the market.
Werner Henning, Managing Director at Autolytix says: “Big data is not just about being able to capture information, it’s about being able to accurately and effectively interpret the data and then map out strategies which align to business objectives.”
The partnership will also provide big data agility by bringing together the expertise of data scientists, data-driven technology, vehicle life-cycle insights and business acumen between TransUnion and Autolytix.
Tuttelberg says the vast amount of data available to TransUnion – which is only utilised when given the necessary consent by clients – will set Fleetlink apart from other products in the market as it provides the depth of data required for detailed analyses.
Fleetlink is comprised of two main offerings which can analyse a vehicle’s RV and a CPK analysis. Both these products directly translate into understanding the risk that companies are exposed to with their fleets.
“Currently, the majority of the market is not understanding or appreciating the future residual value risk of vehicles and many companies only estimate their exposure to risk without any data to back up their decision making process,” says Henning.
“Fleetlink creates a market standard where the value, cost per kilometre and risk for each and every vehicle can be measured, allowing businesses to quantify the risk they are putting on their books, allowing clients to price right in the market for a long term view.”
Tuttelberg concludes: “Fleetlink will provide businesses with the competitive edge and will continue to evolve and adapt to market conditions and our customers’ needs while simultaneously remaining cost-competitive.”