Q. What are the newest data analytics tools in fuel management?
A. Data visualization is probably the hottest trend in fuel management right now...
A. We’re starting to see a lot of points of integration, whether that be with data or systems. Telematics devices provide a rich data set that can be utilized in a number of ways. Driver safety, are they using a seat belt? Optimized routes, are they going far out of their way to job sites? Vehicle efficiency, are they idling at jobs or accelerating harshly? These are just a few of the benefits of telematics data. But we’re also beginning to see more decisioning tied to both telematics and fuel card data. For example, in certain market segments, we have pioneered the ability to marry engine control module (ECM), telematics and mobile communications data with the fuel transaction, which enables us to efficiently deliver greater insight; more proactively drive certain behaviors and manage exceptions in real time; and provide better financial controls for the company. We can also leverage this technology as a fraud prevention measure. An example of this is how we are leveraging the integration of the vehicle device and fuel card data to measure real-time tank-level data against the fuel transaction, which allows us to identify a siphon or theft event instantaneously. Through this proactive monitoring, the company outlines their desired ‘trigger events’ and we send real-time notifications back to the fleet managers when any of those ‘triggered events’ occurs. We can also utilize this technology to decline a transaction before the authorization process, based on certain criteria established in the technology integration.
Senior Vice President and General Manager
A. Data visualization is probably the hottest trend in fuel management right now...
A. I think we always want to collect more data. Our partners and customers expect that from us...
A. Absolutely. That’s becoming a huge need in the marketplace...
A. Fraud is definitely a big issue for companies managing their fuel costs. One of the biggest issues is...
A. We are in the electric space today. We’ve got acceptance at a number of charging stations, including ChargePoint...
A. Today’s fleets are considering all types of fuels — and robust reporting on these transactions is a must...
A. Absolutely, and fuel cards are a key control...
A. Level 3 data capture is one of the fundamental ways fleet operators are able to better identify and more effectively rein in costs...
A. Fuel cards help businesses fuel their vehicles, document and analyze those fuel purchases, and limit exposure to unauthorized purchases...
A. Not all fuel cards are the same. Here are some popular criteria that fleet managers use when selecting a card program...
A. Fuel cards were designed to make it easier for businesses to pay when they fuel their vehicles. As fuel cards became more sophisticated, they also began offering businesses discounts and rebates plus the ability to track and analyze fuel purchases, creating the ability to control costs, making it easier to track expenses and enhance the bottom line without carrying cash or relying on inaccurate manual data entry.
A. We have 10.5 million WEX fuel cards in circulation worldwide...
A. We start off with basic levels of consumption: usage, trends, when they’re buying, where they’re buying. Then we’ll drill down a bit deeper to say...
A. Established in 1983, we are an industry leader known for developing technology that pioneered the closed-loop, proprietary fuel card network...
A. Not any time soon. There’s a deadline of 2020, but...
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