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News

New tool enhancement gives fleet managers firmer handle on fluctuating fuel prices

AZDEL : 22 August, 2007  (New Product)
GE Commercial Finance Fleet Services recently added daily fuel reporting to its integrated, web-based reporting applications, my.Dashboard and my.Reports. New daily fuel reporting delivers information based on all fuel transaction data including transactions that have not yet been billed.
As a result, customers can analyze their actual fuel usage and can take action on reducing it sooner rather than later, so they get immediate financial and environmental results.

'Dealing with and managing fuel prices that are fluctuating daily is a huge issue for our customers. Waiting a month or more for fuel card bills and then spending days thereafter analyzing the data makes the fleet manager's job all the more challenging,' said GE Commercial Finance Fleet Services' fuel general manager Brian Wright. 'We're delighted to have an easy-to-use solution for our customers so they can optimize their fleet's performance and grow their business.'

Daily fuel reporting within my.Dashboard and my.Reports consists of one consolidated exception report encompassing all available exceptions criteria. With one click, customers can see exception transactions that fall outside of their policies. The consolidated exception report is organized by driver information, providing fleet managers instant visibility to drivers with the highest level of improvement opportunity.

In addition, my.Dashboard provides trend charts that display a customer's variance to the fuel market average for the last 15 and 30 days by state, fuel marketer, fuel type and the customer's organizational structure.

Wright noted that the average price U.S. consumers paid for gasoline jumped by two cents the second week of July 2006, following a 3.9 cent increase in the prior week. According to the U.S. Department of Energy, the latest increase brings the average price U.S. consumers paid for gasoline to $2.99 a gallon, the highest since last September when Hurricane Katrina disrupted petroleum supplies and a 67 cent increase from one year ago.

'Those increases, which happen overnight, have a substantial impact on our customer's business. The sooner they have access to information they need, the better able they are to manage the assortment of issues involved,' say Wright.
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