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A new product that enables leasing companies to offer an off-the-shelf service, maintenance and repair (SMR) solution for customers who lease vehicles without maintenance has been launched by software provider Epyx.
Integrated into Epyx's 1link Service Network platform, it offers an online vehicle maintenance booking, authorisation and billing tool, connected to a national network of garages.
For leasing companies, it is designed to provide a new revenue stream and boost customer retention by increasing the number of customer touch points.
Epyx says adoption is especially easy for leasing companies it already works with, as it uses existing 1link processes, its garage network and its data formats.
For customers leasing cars and vans without maintenance, the new pay-as-you-go offering allows them to control SMR on their fleet.
They can manage all work online, approve or decline any recommendations made by garages, and benefit from pre-agreed labour rates and parts discounts negotiated by leasing companies.
It also allows them to diarise when actions such as servicing and MOTs are needed, find the most suitable garage, make bookings, have invoices checked through Epyx's rules engine, and then receive a single monthly invoice for vehicle finance and maintenance.
Epyx commercial director Tim Meadows said: "Some leasing companies see up to a third of their vehicles leased without maintenance, with the trend seemingly increasing.
"By offering a maintenance solution for these clients, leasing companies will be able to give control to the customers and build an ongoing relationship.
"Importantly, as well as accessing a new revenue stream, the new product provides a greater opportunity to retain these customers at end of contract whilst protecting the vehicles' residual values."
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