Buying the best rate

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BUYING THE BEST RATE

Fuel prices change from time to time (vary with time). Political conditions, international issues and market fluctuations will affect fuel prices and consumption. The location of the fuel terminal and supplier company also affects prices due to the ingredients used to blend into the fuels. For these reasons, fuel delivery companies always have a tough time tracking the fuel prices for the day and deciding the location to buy. Going through all the emails for the price updates from those companies or calling them daily is always a problem. Finding the best price of the day and having a portal which lists out the fuel prices at all the vendor locations are the biggest challenges for the fuel delivery companies, reducing their buying power. 

 

Seeing the prices from various vendors in one place is a dream solution for these fuel delivery companies.

 

A portal with prices from all the selected vendors with updates in prices from time to time helps these companies to save a lot of time. A portal listing all the prices will solve the central puzzle of choosing a location to get the fuel for the day and save all the hassle of reaching out to them or going through their emails. A solution to auto-select the vendor for the day based on the prices and calculate the price for each client based on the rack price will be a great asset for the company as it will help them invoice the customers quickly.

How does the Fuel Management System from Manage Petro solve these pain points?

 

Fuel Management System (FMS) from Manage Petro is one SAAS solution that solves these pain points faced by fuel delivery companies. Manage Petro’s FMS Dashboard lists the rack prices from all the fuel terminals accessible to the company and can auto import those prices directly from the supplier’s portals at regular intervals. Companies can also benefit from a better price from Manage Petro’s partnership with some suppliers. Margins can be set for each fuel type based on the location of the terminal, which will determine the unit price of the fuel for the day. FMS will also auto-calculate the fuel price for each client listed on FMS based on the margin for each fuel type and send an email to them with the price for the day. Fuel prices sent to the Clients include all the applicable taxes and fees based on the terminal and the client’s address. Buying the fuel for the best price is one of the challenges for Fuel Delivery Companies, and it has ripple effects until invoice creation.

Manage Petro’s Fuel Management System with features like auto importing fuel prices from supplier’s portals and auto calculating client’s unit prices can help fuel delivery companies overcome the pricing challenges they face.

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Eliminate human errors

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LOSS OF INVENTORY - THEFT

Loss of inventory can hurt any business. In the case of the Fuel delivery companies’ inventory loss can be a physical loss or an adjusted loss. Physical loss of fuel is actual loss from the tank, which can be through a spill during its delivery or a leak. An oil spill is a nightmare for the fuel delivery company as they must deal with all the environmental regulations to clean up a spill. Oil spills can sometimes result in hefty fines, and spills in residential areas involve a lot of rules for cleaning, which can lead to losses up to millions of dollars. Adjusted loss is due to accounting discrepancies due to poor data tracking practices that are incremental and can add up over time. Without proper data tracking, most of the inventory will be untracked and prone to theft from drivers or clients. These can eat into the company’s profits and hinder its growth.

One of the safest ways of avoiding fuel loss or fuel spills is by controlling the fuel pump. Such a solution for Fuel delivery companies will be a dream come true. Controlling the fuel pump and the registers will also help properly track the inventory. Adding to that solution, registers which can save digital records of all the dispenses and the ability to read them can help track down the stock. This kind of control on the pumps and a proper inventory management system will help keep track of the type and quantity of fuel available in each truck. Using IOT sensors to monitor the inventory in storage tanks can help keep up with the availability and identify fraudulent activity. These features can help fuel delivery companies to reduce their losses.

Manage Petro’s Fuel Management System (FMS), a web application, is an ideal solution to tackle all the inventory tracking challenges faced by fuel delivery companies. FMS integrates with the mobile app to get information about the truck’s location and helps control the fuel pump. The pump can be directed to open only at the delivery location, and the register reading can be captured directly instead of a manual entry. Integration between FMS and the mobile app also helps in knowing the live inventory in the truck and the dispensing information. FMS processes all the live data and lists the records, including the rebranding records in the inventory management module, which helps track the discrepancies. FMS also use the data from the mobile to create a path the truck has taken during its trip. FMS is integrated with multiple IOT sensor providers and tank monitors to keep track of the inventory and fuel level. Tank monitors can also create automatic customer orders based on the tank’s fuel level. 

With all these features, FMS can track every millilitre of fuel bought and sold by the company. This way, Manage Petro’s FMS can help the fuel delivery companies to keep track of their inventory and also help their growth.

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Eliminate human errors

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ELIMINATE HUMAN ERRORS

Everyone makes mistakes at work, which makes us human errors in any business, resulting in significant loss of productivity and profit. Fuel delivery companies are always at risk of these errors as the workflow involves a lot of manual tasks. These companies go through the process of taking an order, making a dispatch, calculating fees, calculating unit prices for the fuel, preparing invoices, running payments at the office level, and having drivers fill out the forms about their deliveries. Tasks performed by the office staff and the information gathered by the drivers depend on each other. Any error in one place has a ripple effect on other jobs. These human errors will cause significant damage to the company by losing customers’ credibility and sometimes losing their business altogether.

Automation is one-way fuel delivery companies can avoid human mistakes by automating repetitive tasks.

Human errors are primarily due to a lack of knowledge or experience performing particular tasks or a slip in concentration. Fuel delivery companies need data collection, data transfer and fuel price calculation to be automated and digitalized (as anything involving paper is always prone to errors). Automating these tasks will help apply the appropriate fees and taxes at the office level, thereby improving the accuracy in calculating the unit prices of the fuels. Adding to this, if the data collection part of the drivers is automated, it will impact the accuracy of the invoices. Automating all these tasks will help the company improve productivity, have inventory transparency, and build trust with their clients. 

How does Manage Petro Fuel Management System (FMS) portal help to eliminate human errors?

Manage Petro provides an automation solution to fuel delivery companies through its Fuel Management System (FMS) portal with features which automate all the tasks from placing an order to collecting the payment. FMS can automate office tasks like creating orders, preparing a dispatch and executing a delivery and an invoice. FMS will also help with the calculation of fuel prices. Through its mobile app, FMS can also control fuel truck registers to get all the readings automatically and send them to the office instantly. This communication between the FMS, mobile app and the records on the truck will help the drivers by providing timely warning messages. It warns the drivers when incorrect fuel types are selected during delivery and when opening the pumps at the wrong locations. With instant data transfer between the driver and the office, the office can be aware of the live inventory available at their disposal for planning their dispatch. FMS is also a portal and an automation solution, providing companies with an option to let clients access it. Clients can log in to it to place orders and look at previous orders and invoices. FMS can also be integrated with various accounting software through which data can be synced and help the bookkeeping.

Manage Petro’s FMS features which automate certain functions of the fuel delivery workflow, will help prevent human errors and improve the company’s productivity.

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Fast Invoicing

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FAST AUTO INVOICING

What are the benefits of automated invoice processing for fuel delivery companies?

Every business needs an efficient flow of money to keep it running. In the case of fuel delivery companies, delay in invoicing a client is a significant obstacle as this delay leads to a delayed collection of those invoices. Preparing an invoice for a client of a fuel delivery company requires a lot of information ranging from the register readings to calculate the amount of fuel delivered to the taxes that the fuel and the Client are subjected to. Time taken to transfer that data between the drivers and the office is a critical factor in the delay of the invoicing process. Human errors in recording those register readings to calculate the amount of fuel delivered and mathematical errors in calculating the unit price for the fuel type by including all the margins and taxes are two challenges in finalizing the invoices. A minor fault in this process will cause the clients to raise concerns and delay collecting the payments on those invoices. All these factors lead to huge labour costs for the company.

Manage Petro is a SAAS solution that can automate the invoicing process for fuel delivery companies

Any solution that eliminates errors in collecting the data from the fuel registers and calculating the fuel unit price for the clients is a dream for fuel delivery companies. Suppose that it calculates the unit price for the Client automatically and can gather information directly from the register into a log. In that case, it will resolve the major hurdle in invoice preparation (which will eliminate the data entry errors). Automatic data transfer between the office and the delivery driver is another feature of an ideal solution which will lead to quick invoicing. Add to it the ability to process, record and follow up on invoice payments, making the solution a fantasy for fuel delivery companies.
Fuel Management System (FMS) from Manage Petro is a SAAS solution that can automate the invoicing process for fuel delivery companies. FMS is integrated with a mobile app that can communicate with the fuel registers, collect all the information from the registers into logs, and provides all the information required for an invoice, eliminating the need for manual calculations. This integration will result in live data transfer between the office and the driver, eliminating the waiting time in creating the invoices. All this data is saved into forms and will be available for the drivers, clients and the office. Along with the data collection, FMS also calculates the unit price of the fuels by including the company margins and taxes based on the Client’s billing address. FMS can automatically send the invoices to the clients after the delivery is completed using the data transferred from the mobile app. FMS also helps in processing and recording payments for the invoices and sends out reminders for unpaid invoices.
Quick invoicing and payment collection are significant factors that will affect the company’s health. Manage Petro’s FMS with its automation will help speed up this process and eliminate human errors to avoid payment delays.

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