Fleet Advantage, an innovator in truck fleet business intelligence, equipment financing and lifecycle cost management, announced a new significant innovation and extension to its award-winning ATLAAS platform (Advanced Truck Lifecycle Administrative Analytics Software) with the addition of predictive Lifecycle Management Software (LMS). This addition enables Fleet Advantage to help its clients predict the optimum replacement cycles and operational cost savings on their aging trucks.
The announcement was made at the American Trucking Associations' Technology & Maintenance Council (TMC) Annual Meeting & Transportation Technology Exhibition in Atlanta, GA.
ATLAAS is an innovative and pioneering business intelligence resource for private fleets and for-hire carriers. The software platform is used to manage all pertinent fleet information with data analytics and visualizations to manage an entire fleet with a few keystrokes, on one platform, without the need for a support team of analysts or data scientists. The software notifies fleets months in advance of when an individual truck or group of trucks will reach their TIPPINGPOINT, the point at which a truck reaches economic obsolescence, and costs more to operate than to replace with newer equipment.
“With ATLAAS, we’ve shown a distinct commitment to preserving the bottom line for our transportation fleet clients through innovation and business intelligence resulting in smarter and more profitable decision-making,” said Brian Holland, President and Chief Financial Officer of Fleet Advantage.
This new enhancement helps Fleet Advantage identify, predict and forecast each truck’s TIPPINGPOINT by selecting future dates to analyze any number of criteria, including truck make, model and type; as well as utilization characteristics such as usage location and fuel metrics. This critical insight helps predict the savings over the next one, two, or three years and shows where unit replacements would present operational cost savings over the predicted time allotment during that time span.
Predictive modeling allows organizations to create future business insights with a significant degree of accuracy. With the help of sophisticated data analytics tools and modeling, Fleet Advantage can now use past and current truck utilization data to reliably forecast budget trends in months and years into the future. Predictive modeling and analytics tools are expected to reach approximately $10.95 billion by 2022, growing at a compound annual growth rate (CAGR) of around 21 percent through 2022, according to Zion Market Research.
“Our new LMS predictive modeling is the next evolution of our superior consultative approach and allows us to more closely forecast the profit and loss statement for the entire fleet as well as individual vehicles,” said Jim Griffin, Chief Operating Officer and Chief Technical Officer of Fleet Advantage. “With the new LMS module, we can better identify when trucks should be replaced, equipping fleet managers with their total cost of ownership metrics in advance to help set their budget and be more proactive as opposed to reactionary.”