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. Demand for EV charging is definitely growing. EV sales in the U.S. increased 21 percent from 2016 to 2017, with 26 consecutive months of year-over-year increases. So, vehicle manufacturers naturally are putting a lot more R&D into these models, as we are seeing now in longer travel ranges and higher demand for charging stations. We love to see fleets leaning in to the future, because that demands more of us as suppliers. We see it as a growth opportunity with tremendous innovation and competition. However it shakes out, we obviously want the trusted partnerships we’ve developed with our customers over time to survive this transition many fleets will be making. While issues remain – How do you process an EV charge? How do you invoice it? How do you marry that data stream to your liquid fueling reports, or your telematics data? – WEX is close to being able to deliver a fueling experience at an EV station that’s identical to the experience they get with traditional fuels. That’s our goal: EV charging stations that not only accept WEX Fleet Cards, but protects and reports on the transaction in the way only WEX has been able to over the period of nearly 40 years. EV is available in spots now. The typical early adopters – huge commercial fleets, government agencies and other organizations with mandates – are using it now. We think pervasive, commercial EV charging will be available to commercial fleets anywhere certainly within the decade.
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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