SunTec, recently in headlines for wiring up Axis Bank?s relationship-based customer billing, has found an unlikely domain of vehicle leasing. A world-renowned carleasing and fleet management company has signed up SunTec for its TBMS-F product suite.
It?s for the first time anywhere that a billing solution like this is used in vehicle-fleet optimisation. The new deployment claims maximum vehicle mobility with minimum loss of finance, both for the client and the fleet-owner.
Since the company, within the European Union-fold, prefers to keep mum on its newfound cost-advantage, it would rather not reveal its identity.
The European vehicle leasing firm has operations in more than 35 countries.
The solution is almost an adaptation of the TMS-F product suite, K Nandakumar, president and CEO, SunTec told FE. The European client runs about 60,000 vehicles on the new system, Kumar said.
But the product may also make good business sense for medium firms with a fleet-size roughly over 5,000. Both companies are cagey about the deal price.
?Leasing?, in Vehicle Mobility Solution, is arranging the finance for purchasing the vehicle and providing the services for the purchased vehicle. Similarly, ?fleet? is leasing without financing.
The European vehicle leasing firm wanted a pricing platform, that accomodates full use of every link in the leasing value chain. It needed global statements and global price lists producing consolidated invoices for their customers. For this, billing processes, spread across several countries had to be integrated to a single system.
?After BFSI (Banking, Financial Services and Insurance), CME (Communications, Media and Entertainment) and utilities, vehicle leasing and fleet management is our fourth domain,? Kumar said.
It was only early this year that SunTec had stepped into data management solutions for utility companies using wireless meters.
In banking, the Kerala-firm enjoys clientele like London-based Lloyds TSB, HSBC, ING Bank and in CME vertical those in the league of the US cable giant Comcast.