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. Right now, they can’t. That’s why you don’t see this application in the market – and probably won’t for a while. Within a decade you might see some sort of real-world application, but it’s still early. The future of the connected car, and how it shakes out in the world of fleet, rests on two big dependencies. One is the ability of connected car players to make meaningful business partnerships. That’s easier said than done. Especially where you have an emerging technology that everyone wants to own, division of intellectual property is but one barrier to bringing multiple vendors together to find a workable solution. Throw government regulations into the mix and it’s anyone’s guess as to when we will see this technology in real time. The other dependency is simply the issue of data security. Companies without a pedigree guaranteeing the sanctity of customer data may find trust is a serious barrier to entering the autonomous vehicle market. At WEX, partnerships and data security have been intrinsic to our tech development since 1983. We couldn’t develop, own and operate a closed-loop network – accepted at more than 95% of all U.S. fuel and maintenance locations -- if we didn’t have the cooperation of multiple players along the way: individual service stations, Big Oil, plastic vendors, Point-of-Sale developers and many more. And we wouldn’t have been able to win the trust of hundreds of thousands of customers through the years unless we had a solid reputation for responsible data capture, thorough analysis and reporting, and helpful customer service in a pinch. So, while it’s early, WEX fully expects to be a player in the connected car space. We think about it this way: WEX Fleet Card transactions are already secure on plastic. Let’s just remove the plastic and turn the car into the card. We’re working on it.
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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