Lease management provider
expands in Europe, reports Fred Crawley.
Go deeper with GlobalData
Lease portfolio management
specialist Innervision has secured a new contract with TDG, a
European logistics and supply chain management company with annual
turnover of more than £660m.
Innervision is analysing TDG’s UK
lease agreements and is in dialogue with banks and lessors with a
view to securing future facilities for vehicle leasing. These will
later be expanded to cover operations in seven other European
territories.
The contract reflects
Inner-vision’s growing credentials as an international lease
management provider. Since relocating to central London in October
2008, it has shown an increasing appetite for European business,
including a 22-country, 3-currency contract with GE Healthcare
signed last year.
As of the end of 2009, it had
nearly £500m of leases under management, and reported turnover up
25% year-on-year, a growth rate that has been consistent since the
company’s foundation in 1992.
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By GlobalDataInnervision is also a growing
source of business for lessors. As a result of clients’ leasing
needs, in 2009 it originated £42m in new contracts. In the year to
end-July, £46m of new contracts were placed with a total of £80m
expected by end of the year.
It takes no commission or payment
from leasing companies, with fees instead paid by clients. In
return, clients can expect savings on the costs involved in their
leasing activities. Administrative savings are one consideration:
Domino’s Pizza, for example, reported a 50% reduction in time spent
on leasing as a result of a managed portfolio.
Innervision’s web-based Lease
Optimisation and Information System (LOIS) is now on its 34th
release since going live in May 2006.
LOIS pulls together all of a
client’s lease details, including scanned documentation, as well as
providing financial summaries, management reports and reminders of
contract notice obligations.
It allows clients to access all
details of leasing agreements, as well as displaying the
consequences of potential agreement restructures and lease-end
options.
Vince Baczor, Innervision director said: “We are thriving in a
very tough market, with a tightly managed and balanced approach to
lease management.”
