How GPS tracking and fuel transaction data simplify fleet management

Fleet managers face a unique set of challenges especially when it comes to keeping drivers safe, and keeping track of fuel expenses. GPS tracking technology and fuel transaction data help streamline these parts of the business. They also make your job a little bit easier.

How fuel transaction data helps fleets stay on top of spend

WEX ClearView fleet analytics is a cloud-based data analytics platform. It uses fuel transaction data to help fleet managers improve performance, manage budgets, and find cost savings. WEX ClearView enables users to quickly spot and troubleshoot red flag activity and exceptions, detect overspending, and investigate suspicious transactions. 

What analytics options are available for fleets of every size?

Regardless of the size of your fleet, there is a WEX ClearView analytics and insights solution to help you manage budgets, find cost savings, and improve performance:

• Snap – Stay informed with easy-to-interpret, highly visual reports delivered directly to your inbox.
• Essentials – Explore compelling visuals and drill-down capability to better manage your fleet.
• Advanced – Move from insight to action with advanced options to target non-compliance.

Now, with the addition of WEX SecureFuel® to a fleet manager’s toolkit, telematics data provides additional heavy lifting — helping stop unauthorized fuel purchases before they happen.

How does SecureFuel stop fuel fraud before it starts?

Telematics data is one of the most powerful fraud-prevention tools a utility fleet manager has. Fraud and misuse can drain between 19-22% of a business’ total fuel spend. Traditional card controls and telematics tools on their own do not always give a complete picture of what happened at the pump.

That is the gap SecureFuel is designed to close. SecureFuel combines WEX fuel card transaction data with real-time vehicle telematics and AI-powered fraud models to identify unusual purchases and help stop them before they are approved, not after.

Here’s how it works:

• The WEX proprietary, closed-loop network — which is found in approximately 95% of US fuel stations — captures detailed purchase information at the pump, including fuel quantity, fuel type, and merchant location.
• SecureFuel cross-references vehicle location against telematics information to confirm the transaction is aligned with the appropriate vehicle.
• If the vehicle is out of range, the AI-powered fraud model can flag or stop the transaction before it goes through, reducing fraud losses and driver misuse.

SecureFuel builds on more than 40 years of WEX experience in fleet card controls and roughly a decade of applying telematics data to fraud prevention in its over-the-road business. It integrates with major telematics providers, including Geotab and Samsara, with additional providers planned. Most customers can activate SecureFuel directly within the WEXOnline platform using compatible telematics supplied by WEX or by a supported third-party provider, so fleets that have already invested in GPS tracking can put that same data to work stopping fraud.

Next steps

Learn more about ClearView, and start taking action today to make your fleet more efficient. To see how telematics data can help protect your fuel spend, explore SecureFuel.

Whether you are looking to modernize your insight and reporting efforts, save on fuel costs, prevent fraud, or take advantage of the latest GPS tracking technologies, WEX offers solutions to simplify the business of running a business. To learn more about WEX, a dynamic and nimble global organization, please visit our About WEX page.

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Editorial note: This article was originally published on October 23, 2019, and has been updated for this publication.