Compass Rent, the new company of Compass Banca Spa specialized in long-term car rental, has chosen the technological innovation of Targa Telematics – a tech company specialized in the development of digital solutions in the fields of telematics, smart mobility and IoT platforms for mobility operators – to rapidly develop a new business model: an innovative rental formula that allows users to choose from a wide range of used and zero km cars available at affiliated dealers.
Thanks to more than fifteen years of experience with the main short and long-term rental companies, Targa Telematics provides its IoT platform and its hardware and software technologies to enable Compass Rent to launch this innovative rental service, in which dealers take on a fundamental role as suppliers of mobility and not just of vehicles.
In particular, Targa Telematics’ digital solutions allow Compass Rent to:
- ensure the preservation of the value of the vehicle, the reduction of the risk of theft and misappropriation through the Stolen Vehicle Recovery service provided by Targa Telematics’ Control Rooms located throughout Italy and Europe;
- reduce TCO by optimizing third-party liability insurance policies;
- check the condition of its fleet through an effective monitoring of routine and extraordinary maintenance, encouraging proactive actions by dealers towards customers, such as planning the interventions to be carried out;
- ensure the safety of the vehicle, the driver and the passengers by providing the Private E-Call service, which involves the Control Room calling the customer, in case the on-board device detects a significant impact, in order to send help or a tow truck;
- allow drivers to always have useful information at hand on their vehicle, such as fuel level, mileage, vehicle location, etc., in real time in their App,
Moreover, Targa Telematics supports Compass Rent and dealers during all phases of the car rental service, providing a portal to view the entire management flow, from estimate to order, from device installation to testing, as well as assistance and training for dealer technical personnel.
“In a constantly evolving context such as that of mobility, the role of dealers is increasingly fundamental and strategic in order to direct end consumers towards the best solutions.” said Alberto Falcione, Targa Telematics Sales VP . “Like Targa Telematics, we want to expand our ecosystem of partners, increasingly including the dealer who, in our opinion, will continue to have a preferential relationship locally with the end customer. The partnership signed with Compass Rent goes precisely in this direction and we hope that in the future it can evolve with the integration of new services, to respond even better to the evolving needs of end users”.
“The analysis of the market and of driving behaviors is fundamental in the long-term rental market because it is able to offer innovative and differentiating services in favor of dealers and customers. – said Nicola de Cesare, Compass Rent General Manager. In particular, being able to count on an advanced platform throughout the entire rental process will allow dealers to expand new business opportunities, while customers can count on a fast, safe and worry-free service. In this perspective, the collaboration with Targa Telematics allowed us to structure a technologically advanced platform, which, at the same time, guarantees speed in the automation of processes and maximum protection in the management of our customers‘ data” concluded de Cesare.
ABOUT TARGA TELEMATICS
Targa Telematics is an IT company with 20-year of experience in connected vehicles. It provides technological solutions in telematics, smart mobility and digital IoT platforms for mobility operators. The company addresses short and long-term renters, large finance companies and large fleet with a range of services from insurance telematics to asset and fleet management, remote diagnostics and telemetry for vehicles, professional and construction-site vehicles, through to the management of airport service vehicles. Managing over half a million of connected asset, in 2020 Targa Telematics reported revenues of €40 million, 130 employees and more than 950 customers. For more information: www.targatelematics.com
Compass Rent is the new company set up by Compass Banca specializing in long-term car hire services. Launched in 2021, the company serves car dealers primarily, offering them long-term hire solutions for their fleets of vehicles. The company, based in Milan and Trento, plans to achieve more than 1,000 associated dealers in its first two years of activity, with a managed fleet, once fully operative, of some 20,000 vehicles.
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