Fleets can now calculate and compare the total cost of ownership for petrol, diesel and electric vehicles using Dynamon’s new Financial Planner feature.
A major new update to its award-winning ZERO software, Financial Planner automatically pulls together the critical pieces of data needed to calculate Total Cost of Ownership (TCO) and generates results that compare owning and operating an electric vehicle (EV) fleet to that of an internal combustion petrol or diesel engine (ICE) fleet.
Additionally, the tool offers insights into which ICE vehicles should be prioritised for a switch to electric and which ones can be transitioned later.
‘Our new Financial Planner feature gives fleets a tool they have been craving for some time: a definitive way to determine the costs of electric vehicles compared to internal combustion ones,’ said Dynamon CEO Angus Webb.
Core to the offering is a ‘rate card’ that uses a wealth of data from the fleet, including purchase price or leasing costs, vehicle age, mileage, residual value, charging tariffs, insurance, SMR, and taxation. For ICE vehicles, it can also factor in emission zone fees, fuel price and fuel efficiency, while for EVs, it adds in EV tariffs for public, workplace and domestic charging.
The software then generates an in-depth financial report on the fleet, suggesting which vehicles can switch to EVs now and which ones can be transitioned later.
So many factors are involved when considering switching an ICE vehicle to an EV, with cost being one of the most important. For fleets, comparing multiple costs and the impact on TCO is incredibly complex.
Dynamon’s Financial Planner does the heavy lifting, creating a clear cost pathway for fleets to help roll out their EV strategy based on informed data in every facet of the operation.
Combined with other features in the ZERO package, businesses can visualise precisely what their operation could look like now and in the future as they transition to electric. They can now accurately forecast and compare vehicle costs, model which EVs would be most suitable, predict how routes and jobs may need to change, and understand the charging infrastructure required.
Further innovations in the software include forecasting future fleet expenditure based on varying operational vehicle lifecycle scenarios and charting the capital expenditure required to switch to EVs.
It can also identify subsets of vehicles within the fleet that are ripe for electric transition and report and predict fleet greenhouse gas emission reductions based on the replacement plan for switching petrol and diesel to electric.
Choosing the right commercial EV for the right job is fundamental to their success, and Financial Planner is a critical element of ZERO that makes this process far more straightforward and more precise. Fleets can use this significant innovation to make informed choices with confidence about future costs – and that will be genuinely transformational for many businesses.
Dynamon will be exhibiting at Fleet Vision International – THE SHOW on April 11 at the Guildhall in London. Register to attend here.
