BCA’s DocuSafe document management service now has capacity to store documents for up to 500,000 vehicles – a total of one million items – after the increase in capacity.
Executives predict the firm will have to increase its storage even further to cope with 750,000 vehicles before the end of next year to meet rising demand.
Research by BCA shows that on average 10% of vehicle documents are likely to be missing, while 50% will contain minor errors.
With V5s costing £19 to replace, the firm installed hi-tech document storage facilities to hold paper and keep an electronic copy to avoid costly losses.
The firm has also extended its service so it now undertakes Road Fund Licence renewals on behalf of customers. About 10,000 vehicle licence applications are dealt with every month and the tax discs are then sent to the relevant vehicle location.
Business development director Nigel O’Keefe said: ‘We have had an extraordinary response to this service from customers.
‘The current standard of document management in many UK fleets is costing them money and has the potential to cause problems in the future.
‘Our high-tech system alleviates problems by automating the entire filing process, making it impossible to misplace documents.’