In our previous posts in this supply chain series, we’ve discussed the ways integrated technology can solve problems inherent in manual systems, from supply contract and allocation management to consumption-based forecasting, and unified dispatch. The deliveries are made, but the real challenge unfolds now: Reconciling invoices and ensuring accurate financial records. This meticulous process reveals the true efficiency measure of your fuel supply chain. 

Traditional systems: A tangled web of paperwork 

The final step in fuel supply chain logistics—back-office processes—can be the most complex, as matching and reconciling orders is almost never straightforward. A supplier invoice comes through and a customer invoice needs to be generated, but if they differ, which is correct? Is the ledger accurate? How many systems are being used to verify accuracy?  

To answer these questions, legacy systems rely on manually cross-checking multiple sources, opening the door to potential errors and significant delays such as:  

• No early warning systems for mistakes, allowing incorrect data to propagate unchecked 
• Error-prone tax management spreadsheets rather than digital records 
• Inability to reconcile BOL in real-time, causing inefficiencies and excessive Days Sales Outstanding (DSO)   
• Limited visibility into missing and unknown deliveries   

As a result, inaccurate data can permeate the process, often going undetected for days or weeks until an irate customer sounds the alarm.  

Digital transformation: Speed and precision 

Ensuring financial accuracy is critical for fuel operators. Integrating industry-specific technology maintains accuracy by unifying multiple data streams into one centralized hub. Order details, driver assignments, product specifications, delivery confirmations, BOLs, and exception management reports are cross-referenced, matched and reconciled in seconds, saving significant time and labor resources.  

Integrated digital capabilities greatly optimize Enterprise Resource Planning (ERP) or traditional accounting system so that everyone involved has the correct view into a streamlined and automated process.  

For the fuel retailer, this means that in mere minutes: 

• All data sets are combined and matched in real-time, and transactions are evaluated for accuracy within seconds. 
• Clean transactions are immediately integrated into the accounting system for payment processing and receivable generation. 
• An Exception Management System (EMS) tracks configurable exceptions and alerts across all fuel supply chain modules (supply management, forecasting, and dispatch) to flag any discrepancy that deviates from plans.  
• Flagged discrepancies are highlighted in exception management reports for prompt investigation. 
• Once resolved, corrected transactions move swiftly into accounting 

A unified data hub consolidates functions into a single digital interface, empowering fuel operators to instantly manage common errors like delivery variances, duplicate invoices, unknown deliveries, missing deliveries, and more—all while automatically reconciling BOLs and reducing DSO. 

The take-away is clear: Digitized, data-driven fuel supply chain solutions propel efficiency and revenue growth for fuel operators competing in a fast-moving landscape. From forecasting to logistics, dispatch, delivery, and back-office functions, innovative technology seamlessly integrates to streamline processes, save labor hours and increase profitability.  

Ready to give your fuel operations the speed and accuracy it deserves? Talk with one of our solution consultants here, and discover how our cutting-edge platform can drive your success. 

Artificial Intelligence (AI) is a widely discussed topic, but opinions on its impact vary. Will it be a major advancement or come with challenges? 

To truly understand AI, however, it’s important to view it in the context of a specific use. Just as AI has revolutionized operations in industries ranging from e-commerce and finance to healthcare and manufacturing, it holds the key to fuel supply chain optimization.  

How AI works 

AI and machine learning use complex algorithms to ingest data from various sources, analyze it against historical trends, and dynamically adjust or recommend the most optimal course of action for a given situation. 

For example, let’s say a fuel operator has three different supply contracts at three different terminals, all within the same distance of the end location. They also have access to the historical sales data for that location. With traditional systems, the supply and dispatch teams need to manually determine the best options for load scheduling, pick up, and delivery. As we’ve discussed in previous posts, fuel supply chain workflows that rely on manual touchpoints leave the door open to costly slowdowns and errors.  

By contrast, AI-driven technology makes those determinations in seconds, providing the operator with the best option from a price and a site run-out perspective. The supply and dispatch teams are freed up to focus on execution, and the risk of manual errors is driven down, saving time and revenue. 

AI across the fuel supply chain 

In the bigger picture, the transformative impact of AI and machine learning extends across the entire retail fuel workflow spectrum. From supply and contract management to forecasting, dispatching, and even reconciliation and invoicing, AI-driven insights significantly reduce reliance on manual decision-making processes, enhancing overall operational efficiency. 

Across the fuel supply chain, AI can: 

• Predict how much fuel is demanded at a site on a given day  
• Automatically assign loads to trailers and drivers, optimizing order assignments to maximize capacity across multiple trucks where needed 
• Optimize delivery route planning, finding the best path to minimize travel distance, align with hazmat considerations, and create an optimal order of delivery points 
• Monitor dynamic fuel demand over time, enabling a user to pinpoint which day a demand spike is most likely to occur, as well as assign the demand spike for the appropriate season based on short/long term historical consumption trends 

By harnessing the power of data-driven insights and automated decision-making, fuel operators can optimize operations, unlock untapped potential and drive revenue growth. AI is the not-so-secret weapon for positioning themselves for sustained growth and competitiveness in an increasingly dynamic marketplace. It becomes the tool that augments human capabilities, not replaces them. 

To learn how AI automation and integrated technology can power your business growth, set up time to talk to one of our solution consultants here.

In the most recent post in our Supply Chain Logistics blog series, we explored how data-driven technology can power accurate, consumption-based inventory forecasting. After your fuel order is generated automatically by the forecasting engine, the question then becomes, what next? The key lies in efficient delivery – getting the product to your customers on time, every time, with accurate invoicing on the same day. 

The bottleneck of traditional dispatch methods 

Like so many facets of the retail fuel business, dispatching has long been a manual process dependent on phone calls, faxes, and mountains of paperwork to coordinate deliveries. Carriers predominantly receive daily loads via email, with no easy way to adjust for terminal outages or optimize routes based on capacity and timing.  

This manual approach creates a perfect storm of inefficiencies: 

• Communication delays: Information gets lost in the shuffle of paperwork and emails, leading to delays, inaccurate carrier information, and a lack of critical updates.  
• Inaccurate data: Siloed systems that aren’t directly integrated with the forecasting engine require manual data entry which increases the risk of errors.  
• Limited visibility: Lack of real-time tracking makes it hard to monitor progress, adjust as needed, and scale.  

Centralize and innovate for seamless operations 

Every day we read about fuel businesses growing revenue, expanding their footprint or prepping for the next big acquisition. Today’s ultra-competitive landscape demands that fuel operators work more efficiently than ever to grow revenue while keeping stakeholders and customers happy.  

That’s where universal dispatch comes in. Imagine a centralized hub that acts as a single source of truth for all your fuel delivery data. Universal dispatch uses various forms of integrated technologies such as APIs and ATG feeds to connect your disparate systems, enabling the seamless exchange of information. In other words, your systems finally talk to each other, enabling real-time data exchange and automation for better decision-making. 

Here’s how automating order creation and load planning with universal dispatch leads to key advantages over traditional methods: 

• Effortless order assignment: Dispatchers can leverage automated features like load and route optimization to automatically assign orders to their own trucks and drivers, who can accept them instantly via mobile app. 
• Third-party integration: Seamlessly integrate third-party haulers into your workflow. They can accept and manage auto-generated orders within their existing systems or from the convenience of a secure and easy-to-use webpage. 
• Real-time tracking and visibility: Track all assigned orders, regardless of hauler or driver, in real-time. Stakeholders get instant updates like ETA and delivery alerts to proactively address any issues, while drivers and dispatchers can use a mobile app for real-time messaging. 
• Streamline invoicing: Digitized BOLs and drop tickets automate reconciliation, comparing ordered, dispatched, and delivered quantities. Invoices are generated automatically upon delivery completion. 
• Identify exceptions and alerts: An exception management system pre-populated with a robust set of rules enables a dispatch manager track issues before they hit the back office; i.e. alerting the dispatch manager if a trailer isn’t loaded to capacity or if a driver lifts from a wrong terminal. 

End-to-end visibility: The watchtower advantage 

Universal dispatch systems provide a watchtower view of your entire delivery process, from order creation and dispatch to modification and delivery. The end-to-end visibility with up-to-the minute data minimizes errors, streamlines operations and optimizes revenue through smart inventory management. 

Next up: Back-office magic 

Coming up next in our deep dive supply chain series, we’ll focus on the magic of automating back-office functions like reconciliation to further fuel your success.  

To speak with a Titan Cloud solutions consultant about how our supply and logistics module can help you optimize fuel planning and automate for success, visit us here. 

In the third and final session of our Future of Filling Up: Faster, Easier, Frictionless webinar series, Titan Cloud’s Vice President of Solutions Consulting Paul Lauinger and TRUEFILL Co-Founder & President Wade Lowe explored the ways connectivity, visibility and automation can optimize fuel logistics, assets and operations. 

Here are some takeaways from the conversation. To catch a full recording of the webinar, From Chaos to Clarity: Demystifying Fuel Logistics visit here. 

No standard workflow 

In response to one of the webinar’s poll questions, more than half of the attendees reported experiencing higher operating costs due to reactive or over-allocation situations. The conversation turned to visibility into those allocations, and how differing workflows can impact the flow of information. 

“Although it would seem that most companies’ workflows would be the same—because they’re doing the same job for all intents and purposes—it’s actually not true. About 80% of a workflow may be the same as another, but 20% is different,” said Lowe. “And it’s not always different in the same way; it’s different in a unique way, every time. Even if an operator’s workflow is, I need to buy, move, deliver, and reconcile, how they operate is unique inside each business. Exceptions and errors happen because in any fuel transaction, so many manual components are operating across multiple systems, groups, and individuals. It can create a lot of havoc.” 

Automating and centralize

To reduce the large number of touchpoints inherent in traditional fuel transactions and lessen the opportunity for error, Lauinger and Lowe outlined the critical role of automation.  

“You’ve got your supply team determining best buy, operations team responsible for executing on that strategy to get the fuel where it needs to go, and the back office. Those three different components inside of a business typically work in siloes and you have to use different systems for each one,” Lowe explained. “When you automate, you centralize all of that so your supply team, your operations team and your back-office team are all in one place; you don’t have disparate systems and different people in different places trying to figure out what’s going on.” 

Lowe was also quick to add that integrating automated technology into the fuel supply chain doesn’t replace employees, it enhances their productivity. 

“We’re not suggesting that people don’t need to be involved. What we are suggesting is that technology can help people make better decisions,” he said. “If we’re looking at the fuel inventory levels and the consumption rates, the system can predict what needs to go, as well as the where, when and how, and it will build loads. That allows the dispatcher to focus on dispatching, not on figuring out what sites are about to run out or not. The system’s handling that.” 

Lowe and Lauinger agreed that fuel supply chain technology and automation should be viewed as a co-pilot charged with reducing manual touchpoints, minimizing errors, and streamlining operations. Fuel operators who integrate such platforms will gain the centralized visibility needed to optimize operations and drive revenue. 

To watch a recording of the full conversation, From Chaos to Clarity: Demystifying Fuel Logistics, visit here. 

In a traditional procurement-to-payment workflow, the sheer volume of manual touchpoints can be overwhelming. Counting supply and contract management, forecasting and dispatching, as well as reconciling and invoicing, it’s not uncommon for such workflows to include over a hundred touchpoints.  

The correlation between such a high number and the efficiency of a process is unmistakable. A high-touch workflow inevitably leads to slower processes and increased error rates, including inventory variance factors, billing discrepancies, and ultimately, lost revenue. 

How can fuel operators drive this number down? Workflow automation is the key. 

API integration for automation 

Manual touchpoints spur specific errors and issues depending on where they lie in the workflow. A traditional tank chart, for example, relies on manual measurements and periodic ATG readings. As a result, traditional tank charts can be pretty inaccurate, sometimes being off by 7% or even more. On the back-office side of the equation, manual invoice matching doesn’t always reveal inaccuracies quickly, leading to lost time and delayed payments. Resolving billing issues requires even more time and labor hours as operators “chase paper” through multiple workflow systems to reconcile discrepancies. 

The power of integrating API technology is its ability to connect multiple workflow applications, centralizing data streams for a watchtower view of all moving parts. An API solution can connect to pricing feeds, tank monitors, tax engines, ERPs, 3rd party haulers, routing tools and more so that fuel operators have a single connection point for all workflow services and tools. They gain end-to-end visibility via a single source of truth—a central hub where they can view and act on all relevant data all in one place. 

Business value of automation 

By minimizing manual interventions and maximizing efficiency throughout the supply chain, workflow automation helps companies unlock substantial revenue growth opportunities while ensuring unparalleled operational excellence. It enables fuel operators to reduce manual touchpoints, flag disparities in near-real time for prompt response and resolve back-office invoice matching and reconciliation prior to data hitting the accounting system.  

In addition, automated systems facilitate: 

• Complex buy- and sell-side contracts across providers and terminals with daily price changes Best buy purchases with smart pricing and freight consideration 
• Precise, consumption-based inventory forecasting 
• Universal dispatch and carrier management 

In short, automation moves orders through the procurement to payment workflow seamlessly, transforming businesses and adding substantial value to their bottom line. 

To learn how your business can benefit from API integration and automated workflow, talk with one of our Titan Cloud solution consultants here. 

In our first post of this series, we explored the ways in which digital innovation can help optimize fuel procurement, contracts, and allocation. Next up, we examine forecasting. 

Every day, fuel supply operators grapple with balancing supply and demand, minimizing holding costs, and reducing the risk of runouts. They cycle through the same series of fuel inventory forecasting questions: What needs to go? When does it need to go? Where does it need to go? Who’s going to take it?  

All answers point to the same goal: Strike the right balance to avoid runouts and excess inventory. 

To minimize risk and maximize outcomes, fuel retailers must base inventory management decisions on sound data and analysis. They need a clear view of accurate data, statistical models, and market insights to make the best fuel inventory forecasting decisions for their business. 

Manual Systems = Lost Revenue  

Operators using legacy systems, however, depend on dispatch experts to orchestrate these critical components; a liability, as their absence for even a day can create a significant risk to the business. When such experts are available, they utilize manual processes that take time and leave room for costly errors. Hours are spent looking at tank levels, analyzing sales history, managing carrier schedules, and trying to prioritize orders. Often, these tasks require multiple, siloed systems requiring extensive knowledge and training prior to ramp-up, adding business cost and risk. Needless to say, the margin for error is great. 

There are three main pain points fuel operators may encounter due to incorrect or inefficient forecasting. Runouts when fuel arrives too late, retains when inventory arrives too early and stays on the truck, and tank overstocking when too much fuel is delivered into lower consumption tanks, such as those holding premium gas. The risk of all three scenarios is more prevalent for fuel retailers relying on outdated methods which lack:  

• Real-time tank readings needed to track inventory, analyze consumption rates and execute accurate forecasting  
• Predictive analytics needed to plan out supply logistics days in advance 
• Continuous allocation management data needed to grab best buys / spot buys with smart pricing 
• Automated reconciliation to ensure what you get is what was ordered 

All these shortfalls lead to the same undesirable outcomes: Revenue loss. 

Innovation = Increased Profits 

Today’s leading fuel operators remain competitive while maximizing revenue by leveraging technology to enhance operational efficiency. Industry-specific supply chain logistics solutions powered by machine learning, AI, and automation can streamline operations, significantly reducing both errors and time spent on unnecessary tasks.  

As inefficiencies are minimized and resources are allocated more effectively, this translates to tangible cost savings. Put simply, fewer mistakes mean fewer runouts, money saved on excess inventory, and less time spent adjusting and readjusting supply logistics.  

Data Analysis = Accurate Forecasting 

Automated systems streamline processes by combining historical consumption data, inventory tracking, and fine grain tank chart management into a single interface. This enables fuel operators to: 

• Quickly determine which sites to focus on based on standardized priorities assigned during forecasting (i.e. Must Go, Should Go or Could Go). No more manual calculations or best guess scenarios. 
• View real-time predictions based on optimal delivery windows, historical patterns and current inventory, informing optimal forecast settings at a single site or multiple sites at one time 
• Use data analytics based on algorithms that forecast at the tank level, so fuel deliveries are perfectly timed and sized 

Advanced forecasting isn’t just about predicting future demand—it’s about optimizing operations, reducing costs, and ultimately, positioning fuel supply chains for sustainable growth.  

Stay Tuned for the Next Post! 

Coming up next in this series, we’ll explore how data-driven technology can automate fuel logistics to unified dispatch. 

To speak with a Titan Cloud solutions consultant about how our supply and logistics module can help you optimize fuel planning and automate for success, visit us here. 

Managing fuel for a distributed fleet, network of retail or commercial and industrial (C&I) locations is a constant challenge, with varying needs and never-ending demand. Furthermore, keeping track of contracts, buying fuel at the best price, and ensuring that you aren’t over-allocated is a daunting task. 

Now, throw outdated software and manual processes into the mix. Suddenly, an already complex task becomes a maze of endless spreadsheets and paperwork. It’s slow, error-prone, and ultimately eats away at your profits. This is the reality most fuel operators face today–but it doesn’t have to be. 

From Manual to Modern 

In the past, fuel management relied on guesswork and siloed information. But the fuel industry, like many others, is embracing digital solutions. With the influx of real-time data feeds like DTN, innovative operators are ditching the traditional approach in favor of smart supply management software. 

As part of optimizing fuel assets, innovative operators may choose to enlist a supply management solution. This software automates tasks, unlocks valuable data, provides real-time visibility around fuel pricing, supply, and demand to appropriate team members so they can execute the most profitable strategy.

In short, automation optimizes every step of supply management. It acts as a centralized hub with all your procurement, sales, and supply-related data in one digitally integrated command center. Accessible to everyone who needs it, this hub lets stakeholders across teams view critical documents like contracts, pricing information, remaining allocation, and other data feeds.  

By continuously processing multiple data streams, the supply management software helps you make the best fuel purchasing decisions, like real-time ‘best buys’ for your business. It continuously evaluates various factors such as price, volume and freight to present the best options with the greatest impact on your operations and revenue margins.  

Simplified Allocation   

Consider this scenario: An operator needs to determine the most cost-effective option for scheduling, pickup, and delivery of a load from one of three different terminals. Those terminals are each governed by distinct supply contracts.   

• Legacy system: Contracts and all related purchasing data exist in disparate holding areas, unable to be evaluated side-by-side.  

• Integrated system: With all your key records in one place, you can leverage historical sales data alongside variables like distance, pricing, and contracts to find the optimal course of action.  

De-Siloed Operations  

Supply chain logistics management systems also eliminate the disconnect between contracts and dispatch by:  

• Keeping a master log of load codes that can be accessed by multiple users, updated and exported to dispatchers and drivers   
• Creating simple and complex index or market-based pricing plans which can be assigned to multiple contracts   
• Monitoring allocation levels at terminals, providing immediate data insights into contract performance so fuel operators can see how they’re performing against contracts to ensure they’re facilitating the best contract performance. 
• Providing all data above in a digestible and traceable format based on delivery BOL so operators can see load codes, cost, pricing, revenue, profit and remaining allocation for each BOL transaction   

Expedited Invoicing   

Once a BOL is provided, the benefits of an automated supply management solution continue. Data-driven automation can seamlessly generate buy and sell prices, streamlining processes in which records are matched, reconciled, and invoiced in a fraction of the time. Manual intervention is minimized, enhancing accuracy and boosting efficiency across the entire procurement and sales lifecycle.   

Stay Tuned for the Next Post! 

Coming up in this series, we’ll explore how industry-specific technology can facilitate consumption-based demand forecasting and inventory management. 

To speak with a Titan Cloud solutions consultant about how our supply and logistics module can help you optimize fuel planning and automate for success, visit us here.  

In the second session of our Future of Filling Up: Faster, Easier, Frictionless webinar series, Titan Cloud’s Vice President of Solutions Consulting Brent Puzak and Solutions Consultant Michael Lewis discussed the negative chain reaction of undetected fuel inventory variance, and how real-time data analytics can help fuel operators get ahead of variance factors to mitigate loss. Below are some takeaways from the conversation.

To catch a full recording of the webinar, Fuel Inventory Variance Control: Why Speed and Precision Matter, visit here.  

Traditional variance measurement systems can’t properly identify root cause 

It’s a well-established fact that fuel inventory variance causes a domino effect of problems across the entire supply chain. Early detection and quick action are key to minimizing the damage, yet traditional systems still fall short when it comes to pinpointing the source of the problem.  

“Most ERP systems have limited functionality when managing multiple concerns. They’re generating various reports, providing visibility that there’s loss, but they’re not able to identify the root cause of loss. If you can’t validate where that loss comes from, you can’t put steps in place to mitigate it. It’s decreasing the productivity of your teams,” Puzak said. 

Part of the problem, he added, is that outdated tank charts can provide an incorrect baseline that throws off the entire tracking system from the start.  

“The data that’s fed into these systems is coming from tank charts which have a lot of inaccuracies in them, and then from gauges which feed off the tank charts, so there are errors already baked in.” 

Tank imperfections and environmental factors affect variance data 

Part of the problem with traditional tank charts is that they don’t consider physical imperfections, wear and tear over time, and other factors that can cause small errors in volume calculations. Those errors compile over time. 

“These are the challenges that organizations face day in and day out, trying to reconcile a variance where you have these imperfections or deformities of the tank systems; they’re actually invoking additional variance points into the readings you’re capturing,” said Puzak. “A traditional tank chart with normal ATG programming is never going to catch that level of malformation within the structure.” 

Lewis agreed, adding that tank imperfections can be inherent or can happen as the result of outside influences.  

“Any sort of environmental factor, any sort of shift in the tank wear and tear over time, even if you’re in an area with frequent earthquake patterns,” he said. “Anything that’s going to disturb the relationship between the height and volume of your probe is a consideration.” 

Data-driven technology can pinpoint variances and improve efficiency 

When fuel operators get a handle on what variances they have, and specifically which they can control, they’re able to focus operations teams on investigating actual issues instead of relying on guesswork.  

“Many companies, no matter where they are around the world, are trying to investigate inventory loss with one arm tied behind their back. Leveraging new technology outside of what traditional ERP systems offer is like pulling off the blinders,” said Lewis. “A data-driven solution provides greater visibility and a much more granular view of what’s actually happening within your tanks and your tank systems. Whether it’s a tape leak or a meter calibration or stock probe—it can tidy out the noise within a variance audit on a day-by-day basis so you can have much more efficient workflows in fixing ongoing problems.” 

Fine grain tank charts capture more data for better fuel inventory variance control 

Traditional tank charts rely on 4-20 monitoring points to extrapolate volume information. Even the higher end of that scale leaves plenty of room for inaccuracy when you consider tank imperfections, environmental factors, human error, and other impactful elements. Fine grain tank charts far surpass these capabilities, using 40,000 – 50,000 points of measurement for pinpoint granularity. 

“A 20-point setup is going to give you more monitoring points and a shorter interpolation but at the end of the day, the challenge is still that you could have deviations between that are throwing off your overall readings,” said Lewis, explaining that fine grain tank chart technology uses tens of thousands of measurements to close that gap. “What we’re doing is we’re leveraging high- frequency data captured from inventory transactions on a continual basis. We’re counting for temperature, we’re counting for deliveries, any inputs and the outputs that are coming from the systems. This gives us a much more granular view than what you’re getting with a typical tank chart.”   

To watch a recording of the full Fuel Inventory Variance Control: Why Speed and Precision Matter conversation, visit here. 

Next up in The Future of Filling Up: Faster, Easier, Frictionless webinar series: 

From Chaos to Clarity: Demystifying Fuel Logistics | May 22 | Register Here 

In the first two posts of this series, we discussed the domino effect of inventory variance across the fuel supply chain, and the vital role of fine grain tank chart technology in using high-frequency data capture to mitigate variance with pinpoint accuracy.  

By now we know that managing fuel inventory variance is vital for operators looking to avoid lost product and revenue. More than simply the cost of doing business, these deficits can add up to big money in the wider picture. 

The 1% Variance Factor 

Inventory variance is a multi-departmental responsibility, and response to issues usually depends on which operational functions are impacted. Stakeholders have differing perspectives based on their own concerns and budgets and tend to view matters from a more reactive viewpoint. 

In the broader corporate sense, fuel businesses assume a certain amount of inventory variance, and typically respond only when a pre-determined threshold has been crossed. At that point, traditionally, a protocol is triggered. Companies may send out a team to investigate, often made up of specialists focused on the impacted area. An environmental team would address any compliance implications, for example, or a facilities team could be engaged to identify and plan remediation for maintenance issues.  

All these approaches require time and money—potentially a significant amount, depending on what’s discovered during an investigation. In addition, investigations can further impact fueling operations by limiting customers’ ability to fuel while tests are being performed. All factors considered, 1% can add up to a considerable loss. Operators who proactively engage solutions to prevent such a domino effect, however, stand to increase revenue significantly:  

A Holistic View

Write-offs may be a given in most industries, but they don’t have to be a necessary evil; in fact, they can be greatly reduced to lessen the hinderance to business growth. Write-offs represent both a financial loss and an opportunity loss when budgets are shifted away from business enhancements to cover operational deficits.  

So how do fuel operators get ahead of these losses? When a single digit threshold extrapolates to a revenue loss in the millions of dollars, even quick response to inventory variance issues isn’t good enough. Pinpointing variance factors in near real-time saves operational budget, which connects to revenue margins. Today’s fuel operators need to understand the bigger picture and take a more holistic approach to preventing fuel inventory variance altogether.  

Inventory variance is a business problem regardless of industry; just ask any company accountant or corporate controller. At the C-level, executives see the more far-reaching implications of a compromised revenue cycle. This is particularly true in the extremely competitive retail fuel industry where operators can be fighting off stiff competition or positioning for merger activity on any given day.  

Proactive Data Capture = Better Business Decisions  

The best way financial leaders in the fuel business can support getting ahead of inventory variance is to budget for investment in industry-specific, integrated technology that monitors systems and flags potential issues to pinpoint trouble spots in real time. Allocating funds to bring in this type of technical innovation now can save millions of dollars in the long run. 

Global c-store leader 7-Eleven is a great example of this. The chain enlisted Titan Cloud’s help in automating operations, to detect and resolve inventory variance issues quickly. As a result, the company reported improved detection and mitigation of fuel loss and more efficient response to variance issues. Other Titan Cloud customers have recorded a lessening of inventory variance by up to 99%, with a 57% reduction in investigation costs.  

By using connective data-capture technology like the Titan Cloud platform, operators can get answers to vital questions, be better positioned to fine tune the cause of variance and make informed decisions around where to put time and money. Key questions include: 

• What is the root cause of the loss? Is it a controllable factor like meter drift or theft? Or uncontrollable, like weather or temperature fluctuation? 
• What equipment do I need to utilize or install to address the specific cause of the variance? If it’s spillage, for example, theft protection tools aren’t going to help and would be an unnecessary cost. 
• Do I need to dispatch a team or launch an investigation into the variance, or can I pinpoint the problem without spending additional money on those resources? 

In short, operators can use data generated by automated technology to understand the big picture, consider its interconnectivity, and take a more holistic approach to making better business decisions.  

To learn how Titan Cloud’s end-to-end solution can help you detect and mitigate issues in near real-time and minimize write-offs, talk to one of our solution consultants here.  

Connect with our team on-site to discover how our single fuel asset optimization platform can help you boost your fuel planning, logistics, maintenance and environmental compliance efforts.

Titan Cloud makes a splash in Europe

We’re thrilled to announce that Titan Cloud will be exhibiting at the 2024 UNITI Expo, the leading European trade fair for the retail petroleum industry that takes place from 14 -16 May 2024 at Stuttgart, Germany.

Visitors to Titan’s booth 5A70 can see firsthand our Fuel Asset Optimization Platform for proactive fuel management and connect with our team to discuss how we can help transform your petroleum business with our suite of software solutions.

Whether you’re looking to optimize your fuel assets, reduce fuel losses and variances, increase site uptime, streamline fuel supply logistics or simply explore new possibilities, our team can guide you every step of the way.

“Building upon our extensive global footprint and decades of industry expertise, we are strengthening our commitment to Europe, where we are actively expanding our customer and partner base. UNITI Expo provides the perfect platform to connect with local industry leaders and showcase our cutting-edge enterprise-wide fuel asset optimization software,” said Chris Cooper, President of International at Titan Cloud.

Trusted by top brands in the retail petroleum industry and commercial fleet market, including 7-Eleven, BP, Circle K and EG America, Titan Cloud currently monitors 50% of all U.S. consumer gasoline throughput and covers more than 85,000 facilities globally.

Titan Cloud optimizes fuel assets for industry leaders to better manage fuel supply logistics, reduce maintenance costs, increase revenue and ensure environmental compliance—from terminal to consumer.

Titan’s Fuel Asset Optimization connects people, equipment, and facilities to deliver precise data to the right people in real-time for better proactive decision-making and can integrate siloed systems, organizing key data to provide clear, current, and actionable operational intelligence.

Key highlights of Titan Cloud’s platform include:

• Enterprise-wide visibility, insight, and access control
• Centralized data source and consolidated asset repository
• Fuel analytics and automation to drive efficiencies and proactive management
• Flexible and scalable platform primed for acquisitions and divestitures
• Software-first, hardware-agnostic solution for unrivaled device connectivity, operational flexibility, and scale

If you’d like to learn more, get in touch with us to arrange a meeting or book a demo at UNITI with our team.

UNITI EXPO 24 | May 14-16, 2024 | Schedule a meeting

Location: Messe Stuttgart, Stuttgart, Germany
Booth: 5A70