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. Fleet management was historically built on the foundation of data. The more data you had, and the more you could combine various data sources, the easier it was to gain insight into how your fleet is operating, allowing you to make better decisions. Fleet management continued to evolve beyond just seeing the data, but now needing to make decisions on the data and take action. Over the years, as more companies are forced to do more with less, we’ve seen the rise of the “mobile office.” Fleet managers need to not only receive data in a digestible format today, they need the ability to make changes to their account, in real time, in the field. So mobile utilization has taken off in the last several years, and is accelerating. You could say, in the fleet industry in particular, that mobile is everything. This means developers need to deliver products that are mobile friendly. This trend will only continue in the coming years and we’re seeing that reflected in our product roadmap strategy as well as in the feedback we’re hearing from our customers. When fleet owners and operators look to boost efficiency, is price top of mind, or is control? Fleets are looking for the most cost-effective, frictionless way to manage their fleets. Sure, price typically is top of mind, but factors such as convenience and controls also need to be factored in. Fleets today want companies to tell them what they don’t know, what they haven’t thought about yet. Anyone can look at the posted price and make a decision, but was that site off route? Does the card program and the site provide controls to ensure company policies are being followed? Will I get data that allows me to determine better options for fueling? These kinds of questions are directly being answered in some of the analytical and trending analysis tools WEX provides its customers. Both our ClearView and Carrier TrendSource tools allow customers to access data such as, gaining insight into fuel purchasing analysis, knowing how their volumes are trending based on peer performance, route optimization, and much more. Plus, the evolution of mobile applications, geared towards the driver are making it easier for companies to put a policy in place and for the driver to adhere to it.
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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