FORT LAUDERDALE, FL (January 17, 2018) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and lifecycle cost management announced today it has reached a significant company milestone, securing $1 Billion in Total Lease Originations, with over $200 Million in originations in 2017 alone.
Much of this accomplishment can be attributed to a growing adoption of the lifecycle and asset management solutions offered by Fleet Advantage, which works with private fleets and for-hire operators by providing innovative solutions to help modernize their fleet operation and business strategies, reduce operational costs, increase financial flexibility, and help with driver recruitment.
Innovation and data analytics have been the cornerstone of Fleet Advantage, which uses a consultative approach to identify ways that fleets can lower costs through a shorter asset lifecycle, dating back to the company’s inception in 2008. With the help of Fleet Advantage asset management strategies and products including the EXchangeIT® leasing solution and ATLAAS software, over 40 fleets across the United States including the Sygma Network, Air Products and Toyota are now recognizing financial benefits from a shorter asset lifecycle combined with flexible leasing solutions and strategic modernization plans that focus on improving utilization.
Fleet Advantage’s entrance and rapid acceptance in the for-hire carrier market has also contributed to the success of the company. With this continuous improvement model, companies benefit from lower equipment acquisition costs and save millions of dollars in fuel, maintenance and finance expenses.
“Achieving $1 Billion in Lease Originations is a significant milestone not only for Fleet Advantage, but for the overall transportation industry, which has demonstrated its desire to shift philosophies to improve everything from financial performance to environment impact and driver safety,” said John Flynn, CEO of Fleet Advantage. “We look forward to continuing to provide more innovative solutions for our clients, and are thankful in having a team of highly focused and dedicated associates to help make it happen.”
About Fleet Advantage
Fleet Advantage serves America’s top truck fleets and guarantees the absolute lowest cost of ownership by providing truck leasing and matching proprietary data driven IT processes with fleet analytics using the latest eco-efficient clean diesel technology to achieve optimum vehicle productivity, while reducing fuel and maintenance costs. 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 2015 and 2013, Fleet Advantage was also 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.