Situation:

Corporations with geographically dispersed company vehicles and/or storage facilities are challenged with keeping their assets properly inventoried and inspected in a cost-effective and efficient manner. Vehicle fleets - whether they consist of company cars for field representatives, transport trucks, rental moving trucks, buses, etc. – must be inspected periodically to assess their condition. Inspections can be conducted to identify damage, document odometer mileage and validate that recommended service has been completed. This is important considering the significant costs involved with insuring these fleets of vehicles. Some companies make the strategic decision to lease their vehicles, in which case the vehicles’ condition must be tracked leading up to the end of the lease term.

Storage facilities must also be inspected to ensure that contents are properly stored (kept dry, proper temperature, etc.) and contents must be inventoried periodically. Full accounting of facility conditions and inventories must be presented to insurance companies and/or regulators if claims need to be filed or if there is an issue with regulatory compliance involving potentially hazardous contents. Some contents need to be inspected to ensure that assigned expiration dates are honored.

Solution:

Global Compliance™ provides inspection and inventory services for companies with large vehicle fleets or off-site storage facilities. With thousands of trained inspectors located throughout the United States, Canada, Puerto Rico, Guam and the U.S. Virgin Islands, we can complete inspections within 3-5 days from request to facilitate rapid and cost-effective turnaround. Our Web-based management system allows tracking of inspection status in real time. It also enables clients to store inspection data in reportable formats should insurance companies and/or regulators require it.

Outcome:

Outsourcing inspection and inventory procedures of fleets and storage facilities to a third party provider is a sound business practice as it reduces costs involved with having internal company resources complete the inspections, and it enables corporations to focus on core competencies. Insurance companies and regulators favor the reporting capabilities of a Web-based tracking system. Further, validation carries more credibility if done through an independent, unbiased third party.