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
(€793m).
Innervision is analysing TDG’s UK lease agreements, and is in
dialogue with banks and lessors with a view to securing future
facilities for commercial vehicle leasing. These will later be
expanded to cover operations in seven other European
territories.
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The contract reflects Innervision’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.
Innervision is also a growing source of business for European
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.
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By GlobalDataInnervision’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.”
