Recognized for Pioneering Programs that Kept Fleets Moving in America
During the COVID-19 Pandemic
FORT LAUDERDALE (April 13, 2021) – Fleet Advantage, a leading innovator in fleet data analytics, fleet financing solutions, and lifecycle cost management (LCCM) today announced it has been named one of the most innovative companies in equipment finance by Monitor magazine. Monitor magazine is the leading source for equipment finance and equipment leasing industry news. This is the first year Monitor is celebrating innovative companies with this award – recognizing leading edge companies that revolutionize the equipment finance realm among other various industry categories.
As a leading innovator in fleet analysis and modernization, Fleet Advantage is being recognized for the essential role it plays in aiding numerous fleet organizations to deliver food and necessary health items like the COVID-19 vaccine to an estimated 350 million Americans. Many companies had to quickly respond and adjust to a new normal that required more flexibility in their business operations. On top of this, finance executives in the transportation sector had to continuously do more with less. They were tasked with increasing efficiencies, monitoring, and complying with regulatory mandates and meeting customer expectations – all while saving money.
To help alleviate organizations of financial strains, Fleet Advantage developed its Sale-Leaseback program. With this program, a company can select the assets from their fleet that are older models, which are inefficient and less reliable, and Fleet Advantage will purchase those assets and lease them back to the fleet for an interim period until they can then transition to new equipment when ready. This enables organizations to generate cash in the near term, which is especially critical today, given the COVID-19 pandemic and strain it has placed on companies as well as the economy. The cash gained can then be used for immediate internal needs or to provide extra working capital.
“Innovation is a multi-faceted process that allows us to get creative to evolve and transform concepts to better assist our customers,” says John Flynn, CEO of Fleet Advantage. “Last year, we really focused on our innovative thinking to help fleet organizations whose businesses were turned upside down due to the supply chain demand from the pandemic.”
Organizations that take advantage of the Sale-Leaseback program also reap the benefits of Fleet Advantage’s proprietary ATLAAS (Advanced Truck Lifecycle Administrative Analytics Software) platform. The platform alone makes Fleet Advantage innovative by transforming how private truck fleets and for-hire carriers operate, manage, and evaluate fleet costs through several strategic advancements and new solutions.
Since inception, ATLAAS has helped customers save an estimated $200 million, and as a result Fleet Advantage has over $1 Billion of assets under management and serves America’s top truck fleets. ATLAAS has over 18 billion miles of data as part of the company’s tracking and analysis and monitors over 54,000 vehicles offering advantages in benchmarking of operating costs and providing monthly, quarterly, and annual fleet reporting for Total Cost of Ownership.
About Monitor Magazine
Since its launch in 1974, Monitor has evolved into the leading independent trade publication in the equipment finance and leasing industry. Employing a unique content deliver format, each issue includes timely articles authored by industry specialists and regular features, which are a hallmark of the magazine.
The Monitor’s seven annual offerings include the Monitor 100 Issue in addition to the publication’s six bi-monthly issues. In June of each year, the Monitor publishes its most popular issue — the Monitor 100 — our annual ranking and analysis of the top 100 equipment finance and leasing companies in the U.S. This 30+ page exclusive report has served as a benchmark for the industry for over 20 years. For more information on the Monitor’s reports and rankings, visit www.monitordaily.com/monitor100/.
About Fleet Advantage
Fleet Advantage has over $1 Billion of assets under its Life Cycle Cost Management (LCCM) program and serves America’s top corporate fleets. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet financing solutions with matching proprietary data driven IT processes and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S. In 2018, Fleet Advantage was ranked the 9th Top Private Independent from Monitor Daily; and in 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation. In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida – Emerging Category award.