Q. How do you see the market for fuel card services evolving over the coming years in terms of partner programs?
A. I think you see most oil companies focus on what they’re good at...
A. Data visualization is probably the hottest trend in fuel management right now. Fleets used to say, “Give us all our data.” Now they’re saying, “You have our data. Tell us what it all means.”
At WEX, we’ve developed an advanced analytics platform we call ClearView Advanced Analytics that delivers unprecedented fuel price optimization. It helps managers of a company’s vehicles identify top opportunities for fuel savings at a glance.
So, for example, using the Cost Outlier function in ClearView, managers can look at a quick chart and hone in on which drivers’ sub-optimal purchasing habits represent the greatest opportunities for savings. They can see who purchases unnecessary fuel grades, as well as those who consistently buy from high-priced merchants. Each driver’s name is a link to an individual Driver Purchasing Analysis that provides more detail—estimated savings per week, month, and per year, as well as individual transaction data.
That’s the kind of thing where we’re hearing from our customers they don’t want data, they want insight, so a lot of the charts and graphs in ClearView show them that without them having to pick through reams of data.
Senior Vice President and General Manager
A. I think you see most oil companies focus on what they’re good at...
A. I think you will get both. It’s going to take a lot of time to change to just one solution...
A. I think down the road everybody probably assumes that we end up in a cardless society...
A. No, not necessarily. It may be more of a partnership opportunity as they start to get more involved in other aspects of the business...
A. Vehicles will always need to be fueled...
A. In these regions, a lot of what we do is following our customers. We are fortunate enough to have a database of more than 300,000 customers...
A. We’re getting it more from the customers. If I manage a fleet and I have a presence in 15 different countries, I have a global fleet manager that oversees it all...
A. Obviously, a partner will have more presence than an individual customer. A fleet is just one entity, whereas a fleet management partner might have 20 or 30 accounts in a given region...
A. We’re starting to see a lot of points of integration, whether that be with data or systems. Telematics devices provide a rich data set that can be utilized in a number of ways...
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...
A. The pace of change today is faster than it’s ever been, and yet slower than it ever will be from this point forward...
A. The single biggest mistake we see is to view parts of your fleet operation independent of each other...
A. There are many things, beyond the obvious, such as developing a written preparedness plan and training your employees to implement it so you protect your vehicles and equipment and identify which employees play essential roles during a disaster...
A. Arriving at work, Fran Fleetkeeper scans a large board with dots on a map. Some of the dots are green. Some are red...
A. Imagine waking up one day to no fuel, damaged roads, and unknown damage to your fleet of 500 vehicles. It’s the ultimate nightmare for a business with any exposure at all to mobility...
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