Optimising every vehicle’s total cost of ownership (TCO) is a critical challenge for every organisation. It’s typically a task for fleet managers, but it can only be possible with total transparency into the factors affecting costs. Do you have the necessary information and data to make the best decisions?

In an essential in-depth whitepaper, Holman’s experts explain how you can use data-driven insights and in-life management to optimise the total costs of ownership. They also explain the role of a trusted partner in the process.

This article explores key themes and lessons to help you learn how Holman can help you drive what’s right for 2023 and beyond.

Calculating the TCO

A potential recession is putting pressure on profit margins, leading many businesses to search for cost savings with fleets a familiar target. But, alongside the pressure to cut costs, fleet managers must prepare for the future – developing a vehicle mix and fleet strategy that continues to deliver for the business.

TCO combines many factors and touchpoints in a vehicle’s life, including selection and funding, fleet servicing and maintenance, and driver management.

The key to optimising TCO is to use data-driven insights to inform decisions. From selecting suitable vehicles, managing service and repair schedules, and vehicle disposal – utilising information can help you make the best decisions and optimise the return on your fleet investment.

A step-by-step approach to optimising TCO

Optimising your TCO involves using data to drive better decisions. Here’s how Holman can help you use data to make better decisions at every step of the process:

Stage #1 – Vehicle selection & financing

• A strategic approach to vehicle selection – We will spend time analysing your organisational requirements, priorities, and future plans before purchase.
• Evaluate finance options – Our experts will explore different finance options (purchase, contract hire, and finance lease) and assess their impact on your business before buying.

Stage #2 – Vehicle operation

• Optimise operations – Fleet managers face decisions each day that can impact the TCO of every vehicle. Detailed data provided by a partner like Holman can help you make the best decisions about operating, managing, and maintaining vehicles. Key areas data can optimise operations include:
• • Service, maintenance & repair
  • Compliance
  • Accidents
  • Fuel
  • Tyres

• Driver management – Telematics data can provide real-time information on driver behaviour, efficiency, and performance that can help you optimise vehicle operation. We can identify issues, spot trends, and tackle poor behaviour by analysing data. Better driver management can include targeted training programmes and resource allocation to maximise your return on investment ROI).

Stage #3 – Vehicle Disposal

• Data-driven vehicle disposal – We can support fleet managers in using the data provided throughout the vehicle’s lifetime to identify the most efficient time to dispose of it to maximise return. At Holman, we work with fleet managers to support them in making the best decisions on when to service, maintain or repair a vehicle ­or to sell it. Our advice and expert insights can enable you to achieve the best returns.

Optimise TCO with a trusted partner

Clear, accessible and transparent data is critical to optimising TCO. At Holman, we offer our customers access to data that enables them to make better decisions. As a trusted partner, we can provide impartial expert advice and guidance in all aspects of fleet management. Our agents offer an end-to-end service, from vehicle selection, through its service lifetime, until its eventual disposal.

We’re with you at every stage of the journey, helping you to drive what’s right.

You can download the whitepaper The impact of optimising the total cost of ownership through data-driven insight and in-life management here.