Whole of Life Cost Calculator - Formbird FLEET Meet-Up #21

Welcome to the Formbird Fleet Professionals Community! In this video, we’re excited to explore the Whole of Life Cost Calculator, a key feature of Formbird FLEET that empowers fleet managers to make informed decisions based on comprehensive cost analysis. This powerful tool has been refined with input from fleet experts to ensure you have the most accurate and useful data at your fingertips.

Discover how the Whole of Life Cost Calculator can help you predict and manage the total costs associated with your fleet assets, from acquisition to disposal. Considering all variables, including maintenance, fuel, and depreciation, this tool provides a clear picture of the actual cost of owning and operating your fleet.

More about the tool:
The Whole of Life Cost Calculator from IPWEA offers a detailed approach to understanding the full financial impact of your fleet assets. It includes:

Acquisition Costs: Initial purchase and setup expenses.
Operating Costs: Fuel, maintenance, and repairs over the asset's life.
Depreciation: How the asset’s value decreases over time.
Disposal Costs: End-of-life expenses, including resale value.

Video Time Stamps
Speaker: Host
Welcome and introduction to the 21st Formbird Fleet Professionals Community meetup.
News and Updates
00:54 News about sponsorship at the AFMA conference and a humorous note about sponsoring the toilets.

02:11 - Discussion on Whole of Life Cost Calculator
Speakers: Host, Mark Hosking, Mark Siebel
Introduction to the whole-of-life cost tool, its history, and recent updates.
05:04 - User Experience - Ryan's Insights
Speakers: Mark Siebel, Ryan

11:01 Ryan shares his experience and the operational benefits of using the whole-of-life cost tool.
Tool Demonstration
Speaker: Paul
Paul demonstrates the functionality of the whole-of-life cost tool, including entering data and generating reports.

15:05 Detailed Analysis and Comparison
Speaker: Paul
Explanation of detailed and weighted comparisons, using reference and average data, and managing contacts.

20:52 Administrator and User Views
Speakers: Paul, Mark Hosking
Differences between administrator and user views and how projects are managed within the tool.

26:33 - Future Developments
Paul, Mark Hosking
Future improvements are planned for the tool, including better data integration and using reference assets.

30:02 - User Testimonials
Speakers: Ryan, Mark Hosking
Ryan's testimonial shows how the Whole of Life Cost Calculator has helped with decision-making and internal charge rates.

36:05 - Q&A Session
Speakers: David Bailey, Stephen Penny, Jamie, Paul, Mark Hosking
Q&A session addressing questions about future improvements, operating leases, and importing data.

46:21 - Closing Remarks

Speaker: Host
Final thanks and information about the next meetup.