Called "Full Distance", the new solution allows corporate customers to record the exact monthly costs for each car on the fleet based on a pre-agreed matrix of prices linked to the actual mileages driven during the month.

Business mileages are captured directly from the driver or fleet manager based on odometer readings, or downloaded from an in-vehicle telematics ‘black box’ straight into the Sofico system. 

Based on the number of miles/ kilometers driven, this gives a total monthly cost per vehicle that can then be allocated to a specific internal project or job, thus providing a complete cost picture for that project. So far, a test fleet of 150 vehicles is trialling the scheme while several other customers have expressed serious interest in the new solution.

Auto-Interleasing was able to develop the new product through its use of the latest release of Sofico’s Miles system which had been updated with the functionality specifically required for its development.

Philipp Spaniol (Inset), IT director at Auto-Interleasing, explained: 'The latest release of the Miles system has been adapted to our exact requirements to be able to develop Full Distance and offer it to our clients.

'It is this extreme flexibility, allied to the ability of Sofico to refine the product in order to meet the precise needs of its customers, which makes Miles such a formidable and useful system,' he added. 

Jan Bouckaert, head of Business Development at Sofico, said: 'We are delighted that Auto-Interleasing, Switzerland’s oldest and most widely respected leasing company, is using the functionality and flexibility within the latest generation Miles system to provide its corporate customers with such an interesting and innovative new product as Full Distance, and we wish them all possible success with it.'