Grosvenor has announced its biggest strategic shift in its history, aimed at preparing itself for the future of business travel. The company, which has a customer fleet of over 20,000 vehicles, said its new approach was based on extensive research among its customers, with a focus on how the generation now entering the workforce views mobility.
The review process is said to have begun almost two years ago, at which point Grosvenor, although aware of certain industry mobility trends, wanted to make sure it formed its own views about the way forward.
It says in-depth interviews with major clients, as well as suppliers, funders, and fleet experts, supported a view of the future heavily underpinned by technology, with younger workers highly interested in sustainability, and an increasing number joining businesses without driving licences.
It therefore concluded a shift in approach was needed to encompass all the ways its customers’ employees might want to travel, and how younger ones are likely to be more tech-savvy, while at the same time recognising that people don’t always want to do everything through an app, and therefore making sure that personal customer service is retained,
Grosvenor managing director Lee Brown said: “For the last five to ten years, business travel has primarily focused on the company car, supported by technology solutions and public transport. But primarily the company car has been at the forefront of business travel.
“I think what we are going to see is that will shift over the next five, maybe ten years, where business travel is primarily driven by technology, supported by the company car and a range of other options to get from A to B.”
Despite the new strategic direction being announced, there is not an immediate launch of lots of new products and services, although some are on the way. Instead, Grosvenor has stressed the importance of developing its offerings in collaboration with customers, rather than just presenting them as a fait accompli.
It also says there is still very high demand for traditional products such as contract hire fleet management and EV salary sacrifice.
One step it has outlined is the launch of Vista, a consultancy service to help customers transition to broader mobility solutions.
Referring to what the company describes as a heavy investment in the next era of digital solutions, Brown said that a mobility app, car sharing technology, and a new fleet management system were planned – the main focus being on supporting customers where they need it most.
He said: “There’s a huge investment going into technology to streamline internal processes, and to ensure that we have the capacity and resource to fully support our clients and their own objectives.”
As part of its shift, the company has rebranded. It previously referred to the Grosvenor Group, with sub-brands Grosvenor Leasing and Interactive Fleet Management, but the strategic review concluded that this could lead to customer confusion. To address this, references to the Group are being dropped, while the former Grosvenor Leasing operation is now known simply as Grosvenor, reflecting how it wants to be known for a broader range of mobility solutions. In addition, Interactive Fleet Management will gradually shift to being known simply as IFM.
The company says the role of Grosvenor is to provide funded fleet management and future mobility solutions, while IFM offers a ‘virtual fleet department’ service, bringing together the best suppliers and managing them in a tailored solution for clients.
The company says its immediate focus with its new strategy is to develop its proposition in line with future customer needs to best serve its existing client base.
Brown said: “The primary focus at the moment is offering a broader range of mobility solutions for our existing customers, underpinned by leading digital applications and exceptional personal service.
“This isn’t driven by winning new business. It’s making sure that we evolve as a business to be best placed to support our current and future customer needs.”
www.grosvenor-leasing.co.uk | Tel: 01536 536 536 | Email: info@grosvenor-leasing.co.uk
