WEX Wrap-Up: March 2017

Another month of big news and important insights from your leader in corporate payments solutions in fleet, travel, media, insurance, and more. Each month, we like to look back at the news and views from each of our business lines in a monthly feature called the WEX Wrap-Up.

WEX Fleet

• How to Survive Pothole Season: Thanks to the freeze-thaw cycle of early spring, pothole season is upon us, and with it comes the damage these potholes can cause for drivers. This WEX Fleet Blog shares six tips to avoid damage from potholes and advice on how to survive the season.
• Pros and Cons of On Site Fueling: To acquire the fuel they need, fleets have three main routes: They can choose to utilize gas stations, install an on-site fueling station, or use a combination of the two options. While gas and diesel stations are prevalent, sometimes it pays to build your own on-site fueling station for your fleet. Learn more about the pros and cons of on-site fueling here.

News: NFI Goes Live with EFS Fuel Card

One of the leading supply chain solutions providers in the US and across North America. Headquartered in Cherry Hill, N.J, NFI has over 2,200 tractors across North America, and turned to EFS to address many of the challenges facing it. NFI will leverage EFS’ fuel card and real-time integration, as well as EFS’ fuel tax solution, fuel management solution, purchasing control solution and its terminal fuel solution. Learn more in the press release on the WEX website.

WEX Index: March 2017

Gas and diesel prices remained flat throughout March and the first quarter as a whole, according to the WEX Index. Price movements along the supply chain have been very light through the first two months keeping retail gasoline in a relatively tight range so far this year. Read more about the gas price trends in the WEX Index for March 2017.

WEX Travel

• A Timeline of Travel Tech Firsts: From the first elevator to the first television set in a hotel room to some of the modern marvels of today, the travel industry has seen a lot of innovation over the years. This timeline shows some of the biggest advances in travel technology since the 19^th century, showing just how far it has come.
• An Airline’s Battle Plan for Mobile Technology: Mobile technology has taken off in the travel space, and thanks to the global trend pointing toward mobility, what should brands be doing to capitalize on the opportunities? We share three key focuses, as well as an example to watch in “Mobile Liftoff: How Airline Carriers Can Adopt Mobile Technology to Drive Growth.”
• Reducing Paper in a Global Economy: Amidst globalization the world of business has been transformed into a cross-currency, cross-border market place. In a recent interview with PaymentsSource, our very own Jim Pratt talked in travel’s role in improving payments, as well as some of the opportunities that persist for connecting with new markets of unbanked people around the world. We share some of the key takeaways here.

Infographic: Airlines vs. Accommodations: How Different Suppliers Are Paid

Whether it’s for moving or for staying, your suppliers have unique needs. This infographic and blog looks at a recent Phocuswright study on European travel payments—how the payments are settled, the challenges in paying both airlines and hotels, and more. Read the blog and download the infographic to learn more.

WEX Health and the Healthcare Trends Institute

• Employer Innovation to Address Healthcare Cost Challenges: Even if increases to healthcare costs remain flat, they are still increases—hovering around 6% YoY. This means higher costs for insurers, employers, and of course, consumers. Learn more about the importance of engagement, planning, and innovation in reducing healthcare costs here.
• Healthcare Organizations Need to Embrace Price Transparency: Price transparency continues to take several steps forward and then a half-step backwards. With the shift to high-deductible health plans, more consumers have realized the importance of transparency from providers, and are now demanding it. Learn more about healthcare organization efforts to provide more transparent pricing here.
• Five Reasons Private Healthcare Exchanges will Thrive: Employers have been considering the benefits of private healthcare exchanges for years, and 2017 may be the perfect year to make the move. This article shares five reasons a private exchange strategy will take off in 2017.

Update your bookmarks: Healthcare Trends Institute is now officially at healthcaretrendsinstitute.org. We have made the decision to separate the Healthcare Trends Institute website from the WEX Health website and have moved the Healthcare Trends Institute to its own domain. If you are following them for the latest news in healthcare benefits, please click here to view their new website.