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. I think you see most oil companies focus on what they’re good at, what are their specialties. I don’t think that card programs necessarily need to be their specialty.
To succeed, you need to have the systems in place; you need to build scale. When you’ve got a partner like WEX -- who already has the scale and can immediately bring that and drive the operations and the sales, handle the billing and other things -- it just makes more sense to partner with somebody.
And oil companies are now focusing back on their core business. I think you’re seeing them even going further that way. The oil companies are getting out of owning the stations. Exxon Mobil made the decision a year ago to leave the gas station business. I think companies as a whole are specializing in their core business and partnering with those that do the pieces of their business that’s core to them. So it creates opportunities for WEX and others to do the processing and run the card programs for most of the major oil companies.
We have 20 to 25 oil company partners, including some of the biggest: ExxonMobil, Chevron, Sunoco, etc. Most of the oil companies are with WEX today. There’s just a small handful that are not.
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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