TML implements RAM's tank leasing and repair management software

International tank container lessor, Taylor Minster Leasing (TML), has kick-started 2007 by implementing the Rental4000 lease management system from specialist software provider Real Asset Management Plc (RAM). Rental4000, which will support TML in managing all aspects of its daily business, replaces a previous, in-house system. In tandem with its investment in Rental4000, TML has also implemented RAM's Repair4000 system to control the maintenance and repair of its tank container fleet.

With offices in the UK, Benelux and USA, TML concentrates exclusively on tank container leasing. The company now controls a fleet in excess of 4000 units, with a wide range of capacities and types for carrying foodstuffs, general and specialised chemicals and liquefied gases.

"We had been operating for some time with older, in-house software and, after evaluating the market, felt that Rental4000 was the most effective way of proceeding," said Alan Van Emden, TML's Financial Controller.

By automating many of the processes associated with lease management - such as invoice creation, depot stock control and billing - as well as providing a wide range of standard and bespoke reports, Rental4000 enables users to minimise time spent on administration and focus more on strategic business and financial management.

Core functions of the software include a dedicated procurement facility to create work and purchase orders for new builds or purchased equipment, the ability to set up and maintain a variety of standard and bespoke contracts, automated on-hires, off-hires and billing, complete inventory records, depot stock management and control of disposals. TML stated that a number of key features influenced its decision to select Rental4000, including the ability to match invoices to authorised repair and testing costs. This is key as the authorisation process is carried out across America, Singapore, the Netherlands and the UK. Van Emden explained that TML issues invoices in four principal currencies - US dollars, Euros, Singapore dollars and UK sterling - but needs to deal with all currencies on the costing side.

Van Emden noted that the version of Rental4000 adopted by TML includes a number of bespoke aspects. "We incorporated some specific modifications into the package to meet our requirements and some further enhancements were suggested by RAM." He added that RAM provided excellent support during this process. "The RAM team was great in its ability to respond to our wishes and then make things happen.

"It is early days and we are only just going live," concluded van Emden. "We need to take some time to bed the software in and get used to working with it as part of our daily operations but I am very happy both with the software and RAM's efforts in ensuring that it works effectively." "I am delighted that Taylor Minster Leasing has selected Real Asset Management as its preferred supplier," said Keith Dolby, RAM's Managing Director. "As a fast growing, dynamic tank lessor that is very well known in the industry, TML is an ideal customer for us. My team and I are very much looking forward to a long and successful partnership."

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