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Year End Message from David Brennan CEO

December 18, 2018 1:34 pm

A year to remember…Toy Car with Xmas Tree

As we approach Christmas, we are all reflecting on the year that has passed. Amidst wider, ongoing economic uncertainty, at Nexus we are proud to have delivered a record year of growth.

Like many industries, the fleet and logistics sector is experiencing a wave of digital disruption as new technologies emerge that enable us to rethink the way we operate in the fleet sector. We are finding many customers coming to us for access to a flexible, on-demand mobility solution as people increasingly transition from ownership to usership.

Our commitment to innovation sees us leading the way; our investment in developing new technologies to benefit our customers has continued throughout 2018, enabling us to meet their needs and exceed their expectations. This year we updated our “on-the-move” offering, further developing our rental technology system, IRIS, to help streamline processes and make complete rental fleet management possible from any location. Now, around 90% of our bookings involve no human interaction at all, putting our customers in the driving seat.

New features of IRIS include a tool that helps customers upload images of pre-existing vehicle damage through the platform, immediately alerting us and our suppliers. It is value-added services like this that we are proud to offer to all our customers to help them save money in these uncertain times. Our work to reduce vehicle repair costs led to us saving one client £350k in 12 months – a figure we aim to beat in 2019. Alongside this we also launched our new management information (MI) suite, providing our clients with access to their rental data, helping them streamline operations and save 20% on their rental expenditure.

For Nexus, securing new funding through Phoenix Equity Partners has been supportive in helping us to add these new features and we are excited for the New Year ahead. This year we reported double-digit growth for the fifth consecutive year following a record year for our rental numbers. We hit our milestone two millionth booking and brought on around 200 new customers, including one of the largest fleet market contracts.

Recognised as one of the fastest growing tech companies in the North as part of the Northern Tech Awards, we also came away from the Yorkshire Leadership Awards with two wins. The highlight for me, however, was seeing Nexus recognised as one of the brightest companies in the country when we claimed the Elite London Stock Exchange Scale-Up Award at the Lloyd’s National Business Awards. This was testament to our market leading increase in sales, headcount, profitability, market share and geographical expansion and the result of the hard work of everyone at Nexus.

We have a lot to be proud of and have achieved a great deal this year. The future is very bright for Nexus and I am looking forward to leading another year of growth while providing the best standard of service for our customers. I’d like to thank all my colleagues, our suppliers, partners and customers for making it a year to remember and to wish you all a very Merry Christmas and a Happy New Year.

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This post was written by Helen Wakefield

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