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 are in the electric space today. We’ve got acceptance at a number of charging stations, including ChargePoint. We continue to build out that network. We’ve got customers and partners who have electric vehicles and need to have charging facilities. We do business with the Federal Government and the Department of Energy is a customer of ours and we’ve got a huge push. The GSA (General Services Administration) also has got a huge push for EVs. A lot of the needs are related to the infrastructure: Where can you find these charging locations? What’s the charge time? What’s the battery life? I think our role is to allow people to get the charge reported back and settled. And we help companies establish where they should put charging stations, based on where we know our customers have EVs.
We’ve had conversations with these stakeholders, the same way we have had these with alternative fuels such as CNG (Compressed Natural Gas). The charging stations represent an interesting dilemma in that it’s probably not going to be your traditional gas station that will put a charging station and have vehicles there 30 minutes or an hour. It’s going to be somewhere else.
Is the value chain the same as in fuel?
The value chain is certainly different in that we’re not trying to find the best charging rates for fleets the way we would with fuel. Now it is just about getting the network set up.
That’s what our value proposition is today. Very much the way it was 30 years ago when we started WEX. First, we want to help vehicles get a charge and then we’ll try and optimize that experience.
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. 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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