Press Release
May 18th, 2011
Fleet Dealers Reduce Debt with MoDel
Fleet specialist dealers can improve cash flow and reduce debt days thanks to MoDel, a new online solution from Oxford-based software provider, Ebbon-Dacs, which automates and speeds up the new vehicle delivery handover process by employing electronic authorisation and invoicing.
Ebbon-Dacs calculates that the MoDel solution reduces debt days by an average of at least one day per vehicle because of the automated nature of the solution. For dealers that supply large numbers of vehicles on behalf of leasing companies, that can make a huge difference. In some cases such as lost or spoiled paperwork, or where there is a weekly deadline for invoice submissions, the savings could be significantly higher.
MoDel, short for mobile delivery, is the latest extension of the highly successful Leaselink e-procurement trading platform, which is used by dealers and leasing companies around the UK and in mainland Europe to electronically source and manage more than 100,000 new vehicle transactions per annum.
A subscribing dealer can freely distribute the MoDel software to as many approved electronic devices, such as PDAs or smart phones, as are required to facilitate the volume of deliveries they have, including supplying the software freely to third party logistics suppliers.
Therefore the dealer decides how many electronic devices they need to buy, and when to buy them. The MoDel subscription remains the same regardless.
Robert Pilkington, managing director of Ebbon-Dacs Leaselink division said: "MoDel really is a Godsend for busy fleet dealers. Imagine you supply 1,000 fleet vehicles per year. With MoDel you invoice each of them, on average, one day earlier than usual and, as a result, you get paid a minimum of one day earlier thereby saving 1,000 debt days during the year.
"This is the proposition MoDel delivers to fleet dealers nationwide. One day doesn't sound like much at first until you realise that each year more than 100,000 vehicles are traded on the Leaselink system. Then it adds up to some very big numbers indeed.
"MoDel speeds up payments and frees dealers to raise invoices far more quickly and efficiently," he said.
The new MoDel solution has been developed as a joint venture between Oxford-based Ebbon-Dacs and well-known motor accessories supplier, VGroup International, and was launched at the end of last year.
So far, a number of major leasing companies and dealer groups plus a top five motor manufacturer have adopted the new solution as they believe it speeds up the delivery and handover process for customers and suppliers.
"MoDel really does speed up the whole delivery and handover process," said Rob Pilkington. "Within minutes of the vehicle handover, the dealer invoice can be uploaded via MoDel into the Leaselink system and can be authorised on the same day, starting the clock ticking immediately. Not to mention the complete eradication of spoiled, lost, indecipherable delivery and collection notes.
"We are seeing real interest in MoDel and expect many major leasing companies to be using it by the end of this year," he said.
MoDel is an extension of Leaselink, the fleet industry's leading e-procurement platform which is currently used by 10 of the UK's 15 largest contract hire and leasing companies who between them supply and manage over 590,000 company vehicles*.
Rob Pilkington, Managing Director of the Leaselink International division of Ebbon-Dacs
*Top contract hire and leasing companies as identified by the 2010 FN50 league table of leasing companies
Ends
Notes to Editors
About Leaselink
Following seven year’s development, Leaselink is Europe's market leading web based e-procurement solution, linking franchised dealers and motor manufacturers to major fleet management, leasing and rental companies.
An established online community, Leaselink is accessed by over 700 franchised dealers and dealer groups every day to respond to tenders and optimise the supply of fleet vehicles. In 2008 the trading platform was responsible for in excess of €3.15bn worth of fleet orders in the UK and Europe.
About Ebbon-Dacs
Ebbon-Dacs is an online solutions company based near Oxford and specialises in delivering hosted, web technology solutions. The company has a presence in France and the Netherlands and, through partners, in Italy, Germany, Australia and Portugal.
Ebbon-Dacs, which is owned by a private equity group, provides business process automation solutions to a wide range of automotive business enterprises through a number of different business tools and solutions and is a leader in hosted solutions for the automotive industry.
About VGroup International
Launched in 1992, VGroup International is a full process supplier of vehicle accessories to all sectors of the new car market, including motor manufacturers, accessory departments, the fleet and leasing industry, dealers and dealer groups and major retail outlets.
VGroup International operates in UK, China and the United States of America and is opening an outlet in Australia. It is looking further to establish itself in the Middle East and South Africa.
One in three new cars sold in the UK have a VGroup International product in them, and the company also has programmes for light commercial vehicles, from graphic design and manufacture to ply lining manufacturing and fitment.
Contact information:
Andrew Wilson
Sales director
Ebbon-Dacs
Tel: 01865 866810
Mob: 07976 337637
Email: andy.wilson@ebbon-dacs.com
Press enquiries:
Mike Gunnell
MGMedia Services
Tel: 01832 275060
Mob: 07786 971 544