Brian Fournier, Americas SVP & GM of fleet and mobility at WEX, discusses the importance of fuel spend management for fleets, emphasizing its role in preventing fuel theft and fraud while enhancing operational efficiency and cost savings.
Fuel is a significant expense for businesses of all sizes, from single-vehicle operations to very large fleets.
Fournier shares how machine learning and AI are used to detect fraud, the development of cardless solutions and embedded payments in vehicles, and WEX's commitment to simplifying transactions to align with company policies.
The goal is to provide a seamless, policy-compliant transaction process that aggregates spend and represents cost savings for businesses.
Learn about:
How fuel is the largest expense for vehicle-operating businesses, regardless of size or segment, and Fournier highlights the risk associated with this expense.
Solutions that help control fuel costs by ensuring drivers adhere to policies, simplify business administration, and allow businesses to focus on their core operations.
The use of machine learning and AI models to detect transactional fraud, noting the complexity of protecting the petroleum marketplace with its numerous locations and dispensers.
Using telematics and vehicle data to ensure transactions align with company policies, addressing both traditional and new forms of fraud.
Simplifying transactions to be painless and policy-compliant and aggregating spend to represent cost savings for businesses.