Company: Enterprise Fleet Management
Company Division/Group: A division of Enterprise Rent-A-Car
Company Description: Enterprise Fleet Management, a full- service fleet management company for businesses with mid-size fleets, helps customers improve cash flow, lower costs, and expand credit lines. We have the products and services our customers need and are committed to providing a level of local customer service unmatched in our industry.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: New Product or Service of the Year - Transportation

Nomination Title: Enterprise Fleet Management Programs

Tell the story about this nominated product or service (up to 500 words). Describe its function, features, benefits, and performance to date.

Most vehicles lose 15 to 20 percent of their value each year, with the greatest loss in the first year. For most businesses a fleet of vehicles is not only one of their largest expenses, but also one of the most rapidly depreciating assets on their balance sheets.
Today more than 7,000 companies take advantage of outsourcing their fleet management to leverage Enterprise’s 55 years of managing company vehicles. Enterprise Fleet Management realizes the importance of lessening the impact of vehicle depreciation with innovative programs and solutions that drive value for every customer. Toward that end, Enterprise Fleet Management strives to minimize depreciation by managing the entire life cycle of a fleet of vehicles while improving a company’s cash flow.

Life cycle management includes the following:
• Vehicle Acquisition -- the largest purchasers of new cars in the United States – buying four to five percent of all new cars and trucks made in the U.S. each year – Enterprise on average helps its customers reduce their acquisition price by more than $1,000 per vehicle and get the best possible prices on aftermarket equipment.
• Separate Line of Credit – by establishing a separate line of credit through Enterprise Fleet Management, customers can preserve their bank lines of credit to invest in the growth of their business. Enterprise also provides aggressive fixed-rate financing which frequently reduces interest cost.
• Cycling Strategy -- remarketing professionals conduct a comprehensive vehicle analysis, reviewing how a customer uses vehicles, mileage, vehicle type, age, maintenance history, warranties, time of year, future trends and current used car sales market to determine how and when to sell vehicles to achieve optimum performance and the best resale value.
• Annual Client Review Tool – as part of a customized continuous improvement program to control and reduce fleet operating costs, this technology tool lets the dedicated account manager provide an accurate analysis, enabling a year-over-year comparison of performance and costs for the customer’s business, as well as its standing relative to its industry average and like-kind fleets.
• Fleet Replacement Schedule – a program that can be pre-loaded with details about active leased and maintenance units to determine optimum replacement timing for both Enterprise and non-Enterprise units in a company’s fleet, including details of the customer’s equity position of leased units.
• Resale Prices – by tapping into a national network of fleet wholesalers, direct franchise dealers and auctions, Enterprise Fleet Management aggressively pursues the highest prices for used vehicles in local markets nationwide, regardless of the mileage pattern or physical condition of vehicles.

The results are conclusive. Enterprise Fleet Management’s solutions not only help customers save an average of approximately $1,000 per vehicle acquisition but also generate an average of approximately $575 higher than the market average in resale price. In addition, during the most recent fiscal year (July 2010-July 2011), Enterprise Fleet Management’s National Service Department saved customers more than $13 million in maintenance and repair costs by negotiating the best prices on maintenance and repairs, as well as ensuring customers received maximum warranty benefits, rebates, price breaks and other opportunities to reduce expenses.

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Provide a brief (up to 100 words) biography about the leader(s) of the team that developed this nominated product or service:

Steve Bloom began his career with Enterprise in 1983 as a management trainee at one of the company’s rental offices in Southern California, shortly after graduating from San Diego State University. As is the case with every Enterprise management trainee, Steve started behind the rental counter learning the importance of superior customer service, an Enterprise trademark. As one of the company’s top performers throughout the last 20 years, Steve has been instrumental in helping the company achieve its tremendous success and growth. In December 2000, Steve took on the position as Senior Vice President of the Fleet Management division.