Caribbean’s one of the largest Petroleum Distribution and Marketing Company that distributes liquid petroleum fuels to dealers and fuel stations across the country. The company has a variety of businesses such as fuel distribution, U-Stores and also planning to start new branches all over Trinidad & Tobago. Established in 1990, it is wholly owned & locally operated company. It began trading of transportation fuels in the year 2000 and is now engaged in the marketing and wholesaling of liquid petroleum fuels. Currently, it has a network of twenty-four (24) service stations across the country, both owned and operated by themselves and by dealers. They also transport bulk fuel to large commercial customers via their Transport Division.
Challenges
- It was difficult for fleet managers to manage drivers, fleets and manage fuel consumption and payment for each of the fleets.
- They needed a customized software solution & mobile app that could automatically transfer all fuel usage data directly from the merchant device to our developed solution via a third-party app.
Solution
The company decided to modernize its payment system in order to improve customer service, build loyalty, and increase business efficiency. That is why to meet all the needs of our clients we integrated various features into their fleet management system, Such as –
- We provided them with a flexible payment solution called convenience pay in order to improve their payment solution with more flexibility and go cashless when their fleet or vehicles purchase fuel, which is a fleet management solution that will work as software as a service in the SAAS model, where different companies can manage their fleet or vehicles based on a subscription model platform.
- Using the convenience pay solution, various sizes of fleet companies can manage their entire business, drivers or staff can effectively pay their daily fuel consumption or vehicle maintenance bill with a cashless prepaid card in a systematic order.
- Their prepaid card is perfect for fleet management companies because it allows them to effectively measure and manage the merchant payment settlement for keeping track of how much they spend on gas, as well as any other fuel itemized expenses such as equipment asset fees or repairs. Even more, Prepaid Card can be topped up whenever required from this largest Petroleum Distribution and Marketing Company.
- With the third-party integration, every fuel station’s merchant can keep track of their receipts automatically after every transaction and can also store & transfer the data of every fuel consumption & transaction from remote places to their web portal via cloud software.
- This fleet management system also helps the fuel stations to become faster and reduce falsification in transactions of fuel stations.
- Mobile refueling helps to automatically pay and refuel drivers using the mobile app. Even more Drivers can navigate to fuel station, choose fuel type, amount, payment method, choose dispenser as well. Afterward, dispenser automatically activates, and user can refuel vehicle.
- Even there is a digital wallet, as a result, they do not have to stand in the line, within a very short time & easy way they can make payment using this mobile app.
- Most importantly, these mobile app assist fleets or drivers in locating the nearest gas station using store locator, which is integrated with map service to provide instructions and display the distance from the current location to the site along with list view or a map view with drop pins and now drivers can see the sea point as well.
Business Impact
Fuel Wholesaling’s Business Impact:
- Improved Customer Satisfaction: The introduction of Fleet Management gave confidence to the fleet companies that everything related to their vehicles could be maintained under one solution which is why they are getting a large customer base for a long time. The subscription-based service improved overall Customer Satisfaction
- Increased Sales: while also ensuring more fuel consumption at their fuel stations. In fact, the number of drivers and fleet authorities who have already been introduced to Convenience Pay branding (fuel consumption cards), it is likely that they will become future customers for this innovative fintech wallet.
Fleet Company’s Business Impact:
- Fuel Consumption Control and Reduction: The extensive monitoring and reporting system enables fleet managers to manage fuel consumption Control and Reduction. It also helps to prepare a proper budget and forecasts financially more accurately.
- Increased Efficiency and Cut Overhead Costs: Fuel consumption is now efficiently managed as the financial movement and fuel transaction rates have been monitored.
- Improved Driver Safety: Vehicle tracking and other records in the system improved driver safety, while cashless transactions are always considered safe and convenient.
- Optimized Routes: Utilizing the mobile app, the driver can reach nearest and best pricing fuel stations using the navigation features.
Future Impact (Business Transformation):
- Fuel Industry Automation: Fleet Management is the first step towards the whole fuel industry automation with digital transformation across their ecosystem as users will no longer need to carry cash and card to pay for goods and digital services. Every action will have digital footprints, even for home users, such as: automatic order placement based on (automatic detection of) LPG consumption
- Ecosystem: Convenience Pay will encourage Open Banking, and is going to be a platform to solve problems for a wide range of markets, including, Payment Service Providers, ecommerce (Website, mobile app, vending machine), ride sharing, charging stations for electric vehicles, Crowd Funding, Fintech Technologies, Software as a Service (SaaS), Business as a Service (BaaS), etc.